Poor Haliburton!

From their most recently quarterly filing: (thanks Footnoted.org!)

“Forecasted crude oil prices for the remainder of 2008 and for 2009 have dropped substantially in the last month…Any prolonged reduction in oil and natural gas prices will depress the immediate levels of exploration, development, and production activity. Perceptions of longer-term lower oil and natural gas prices by oil and gas companies can similarly reduce or defer major expenditures given the long-term nature of many large-scale development projects. Lower levels of activity result in a corresponding decline in the demand for our oil and natural gas well services and products, which could have a material adverse effect on our revenue and profitability.”

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