Baker Hughes said it expects revenue from its onshore business in North America to increase in the first half of the year as customers ramp up drilling activity and pricing improves.
The firm, which is being acquired by General Electric, said improvement in pricing would remain limited as the market remained oversupplied.
Meanwhile, in international markets, activity declines in its deepwater business are expected to be more severe.
The firm said net loss attributable to it was $417million in the quarter ending December 31st.
This was compared with a year earlier when it was $1.03billion.
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