The oilfield services company vows to “streamline operations” in the fourth quarter to generate $300 million in cost savings. Halliburton Company intends to cut costs to the tune of $300 million as the Houston-based oilfield services firm grapples with a challenging North America land market. In a third-quarter earnings call with analysts, Halliburton’s CEO Jeff Miller said the market for both drilling and completions services in North America softened during the third quarter, impacting activity. The company’s net income for the quarter was $295 million (equivalent to 34 cents per share), compared to $75 million net income in the second quarter 2019. Revenue for 3Q 2019 was $5.55 billion, down six percent from 2Q 2019. Revenue for North America (which is Halliburton’s largest market) was $2.95 billion, an 11 percent sequential decline driven by customer activity declines and execution of Halliburton’s new playbook, the company said. “The U.S. land […]