SLB - Halliburton CEO Miller points to bottom in North American oil drilling

Halliburton (HAL) +0.7% pre-market after posting better than forecast Q3 adjusted earnings while revenue fell by a sharper than expected 46% Y/Y to $2.98B from $5.55B in the year-ago quarter, as the second largest oilfield services company coped with plunging demand and lower oil prices.The company swung to a net loss of $17M from net income of $295M in the year-ago period.But Chairman, President and CEO Jeff Miller believes the industry may have bottomed out in North America, saying "the pace of activity declines in the international markets is slowing, while the North America industry structure continues to improve, and activity is stabilizing."Q3 revenues from Halliburton's completion and production business fell 55% Y/Y to $1.57B, while drilling and evaluation revenue dropped 31% to $1.4B, both falling just shy of analyst consensus estimates.Q3 revenues from North America plunged 66% Y/Y to $984M; international revenues slid 23% Y/Y to ~$2B.Rival Schlumberger (SLB) also

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Halliburton CEO Miller points to bottom in North American oil drilling