Halliburton takes $2.2 billion charge on fracking, swings to loss

(Reuters) - Halliburton Co swung to a loss in the fourth-quarter as it took a charge of $2.2 billion on its fracking business due to falling demand from oil and gas producers in North America, its largest market.

The company on Tuesday reported a net loss attributable to it of $1.7 billion, or $1.88 per share, compared with a profit of $664 million, or 76 cents per share, a year earlier.

Reporting by Shariq Khan in Bengaluru; Editing by Sriraj Kalluvila

Our Standards:The Thomson Reuters Trust Principles.
Reuters, 21 Jan, 2020

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