The oilfield services giant outlined plans for deeper spending cuts after recording a $3.7 billion charge, thousands of job cuts and a pipeline outage in Ecuador.
Halliburton reported a net loss of $1.7 billion, or $1.91 per share, in the second quarter ended June 30, which included a $2.1 billion impairment charge amid a slump in oil prices and the resulting collapse in drilling.
The company's capital outlay cuts of $800 million are the steepest by a major energy company so far. Halliburton will reduce other costs by about $1 billion. It has laid off hundreds and furloughed thousands of workers.
