U.S. Plunge in Gas Drilling Means $1 Billion Lost Profit

U.S. Plunge in Gas Drilling Means $1 Billion Lost Profit

George Frey/Bloomberg

A Halliburton Co. natural gas drill stands in a gas field outside of Rifle, Colorado. Four of the biggest service companies, including Halliburton Co. and Schlumberger Ltd., will see their collective third quarter operating profit drop by more than $1 billion in North America compared to a year earlier, according to estimates from Houston-based Tudor Pickering Holt & Co.