The Traderszone Network

Published in TZ Latest News 6 August, 2015 by The TZ Newswire Staff

‘Frack now, pay later,’ top services companies say amid oil crash

Business is so tough for oilfield giants Schlumberger NV and Halliburton Co that they have come up with a new sales pitch for crude producers halting work in the worst downturn in years. In some cases, they are willing to take on the role of traditional lenders, like banks, which have grown reluctant to lend since the price drop that began last summer, or act like producers by taking what are essentially stakes in wells.

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