Halliburton sees North American activity levels gradually increasing in 2013 Says beginning to see signs of North American activity improvements in Q1 as compared to December, but could take longer for activity levels to fully rebound to 2Q12 or 3Q12 levels given the pronounced seasonal decline seen in Q4. For remainder of 2013, Halliburton expects activity levels to gradually increase but expects continued pricing pressure as stimulation contracts renewed. Says improvement in pricing will require meaningful decrease in excess capacity. Sees N.A. industry to add "hardly any capacity this year" and over time should see a drop in excess horsepower due to normal attrition.
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