Why Oilfield Service Giants Are Dumping Assets

The three biggest oilfield service providers have all announced asset sales as they adapt to an environment featuring laxer demand for their services, Reuters reports. Halliburton is selling its pipeline and process services business and hopes to find a buyer and finalize the sale by the end of June. Schlumberger and Baker Hughes are selling various business operations, according to unnamed sources who spoke to Reuters, that could fetch up to $200 million each. Combined, the asset sales sought by the big three, which hold a combined 26 percent…