Investopedia: Another Quarter Of Discontent For Energy Services

It looks like the energy services sector isn't going to deliver any sort of Christmas miracle this year. While I don't believe investors were expecting especially strong results for the calendar fourth quarter, early guidance is suggested that this is going to be a disappointing end to what has been a pretty dismal year.

Rigs Keep Easing
The data from Baker Hughes (NYSE:BHI) on global rig counts for November was not especially strong. The United States rig count fell more than 1% from October and the November 2012 count was about 10% lower than the 2011 figure, as producers continue to cut back in the face in the face of low natural gas prices.

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