Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: steve harris who wrote (35769)	1/25/1999 10:45:00 AM
From: Snowshoe	Read Replies (3) of 95453

Here's a couple of snippets... Analysts and investors will dig through Halliburton's (HAL:NYSE) fourth-quarter earnings report today not so much to see what happened but to find clues about what will happen next. Bill Herbert, head of oil-services research at investment bank Howard Weil Labouisse & Friedrichs in Houston, expects that Halliburton executives will talk about managing the company's cash and focusing on revenue per employee. In short, they'll talk about cutting workers, which could keep revenue per employee at least flat as actual revenue falls. (Howard Weil hasn't performed underwriting for Halliburton.) Halliburton already has announced layoffs totaling nearly 11,000 workers, or about 11% of its workforce, for reasons including depressed oil prices and the need to consolidate recent acquisition Dresser Industries. (You can read the whole thing if you go with the free 30-day trial offer)

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