Halliburton sees ‘modest uptick’ in rig count this year

 Jul 21 2016
Photo Courtesy The Dickinson Press
Halliburton, the world's No.2 oilfield services provider and a major operator in North Dakota’s Oil Patch, said it expects a "modest uptick" in rig count in the second half of the year, but emphasized that the current low pricing environment was unsustainable.

Shale oil companies have started putting rigs back to work, encouraged by a near 70 percent jump in U.S. benchmark oil prices since February.

"We believe the North America market has turned," Chief Executive David Lesar said in a statement Wednesday.

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