Two U.S. energy companies report net loss in third quarter

Two U.S. energy companies, Baker Hughes and Weatherford International, on Tuesday posted a profit loss in the third quarter of this year.

Baker Hughes, a leading Houston-based oil fields services company, reported on Tuesday a net loss of 429 million U.S. dollars in the third quarter of this year as compared with the loss of 159 million dollars during the corresponding period of last year.

The company recorded a loss of 911 million dollars in the second quarter of this year, according to a statement issued by the company.

The company attributed the profit loss in the third quarter mainly to the decisive actions it took to right-size its operating structure.

In the third quarter, the company also cut additional 2,000 jobs, and this move globally brought its tally of workforce reductions to 28,000 positions in less than two years during the oil bust.

Meanwhile, Weatherford International, which has its main operations in Houston, also reported a 1.8-billion-dollar net loss in the third quarter of this year, although its North American revenues slowly began to increase from the previous three months.

The oil field services company, which reported a loss of 170 million dollars during the same period of last year, posted a 565-million-dollar loss in the second quarter of this year. Endi