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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Douglas V. Fant who wrote (32664)	12/10/1998 9:43:00 AM
From: Crimson Ghost	Read Replies (1) \| Respond to of 95453

Home - Yahoo! - Help [ Business \| US Market \| By Industry \| IPO \| AP \| S&P \| International \| PRNews \| BizWire ] Tuesday December 8, 9:32 pm Eastern Time Weatherford sees recovery from Q3 1999 HOUSTON, Dec 8 (Reuters) - Weatherford International Inc chairman Bernard Duroc-Danner said on Tuesday a recent round of downsizing and cost-cutting in the oilfield services industry had set the stage for an earnings recovery in the second half of 1999. ''Just on the cost side, probably around the second quarter, the industry will bottom out and around the third quarter you will see the beginning of a recovery in terms of earnings,'' he told the Arthur Andersen Energy Symposium in Houston. Weatherford and other companies that provide services to oil and gas companies have axed thousands of jobs in recent months in anticipation of reduced exploration spending by oil companies next year as a consequence of weak oil prices. Oilfield service stocks have fallen sharply this year, mirroring the decline in oil prices. More Quotes and News: Weatherford International Inc (NYSE:WFT - news) Related News Categories: US Market News Help Copyright © 1998 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. See our Important Disclaimers and Legal Information. Questions or Comments?