“Our strategy remains unchanged. We are focused on maintaining a strong customer portfolio, investing in more efficient technology, and delivering reliable, best-in-class service quality for our customers. We are looking through this cycle, drawing upon our management’s deep experience and preparing the business for growth when the industry recovers,” said Miller.

Halliburton and Baker Hughes, which do the physical work of drilling wells and extracting oil and natural gas for energy companies, trail only Schlumberger Ltd. in the marketplace.

Halliburton Company (NYSE:HAL) announced today that income from continuing operations for the third quarter of 2015 was $265 million, or $0.31 per diluted share, excluding special items. This compares to income from continuing operations for the second quarter of 2015 of $380 million, or $0.44 per diluted share, excluding special items. Adjusted operating income was $506 million in the third quarter of 2015, compared to adjusted operating income of $643 million in the second quarter of 2015. Halliburton's total revenue in the third quarter of 2015 was $5.6 billion, compared to $5.9 billion in the second quarter of 2015.

Halliburton Co., the world’s second-largest oilfield services provider, has cut 2,000 more jobs, mostly in North America, the region hardest hit by the crude collapse.

Baker Hughes Inc (BHI.N), which is being bought by Halliburton Co (HAL.N) for $35 billion, said it expects "unfavorable market conditions" to persist in the second quarter as drillers turn off more rigs, intensifying a glut in oilfield services.

Halliburton has cut 9,000 jobs in about six months and is considering additional cost-cutting moves as falling oil prices reduce demand for its drilling help.

Halliburton shareholders have overwhelmingly approved the company’s long-awaited merger with Baker Hughes. Baker Hughes also announced on Friday that its stockholders adopted the merger agreement, thereby approving the merger. Each company held their own special meetings Friday morning.

Halliburton says it will eliminate at least 5,000 jobs

Oil drilling in the United States will continue to fall in the first half of this year, and could even halve, according to major oil service companies looking to past slowdowns as a guide.

Halliburton Co. , the world’s second-largest oilfield-services company, said Thursday it will lay off 1,000 employees outside the U.S.