March 24, 2020 / 3:04 PM / 11 days ago

Halliburton will reduce spending below earlier $1.2 billion budget

March 24 (Reuters) - Oilfield services firm Halliburton is accelerating its cost-cutting and will reduce spending below its original $1.2 billion budget, its finance chief said on Tuesday.

The company did not disclose a new spending target, but is testing scenarios including a 60-65% reduction in oilfield activity, Chief Financial Officer Lance Loeffler told investors on a webcast.

Reporting by Gary McWilliams Editing by Chizu Nomiyama

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