Baker Hughes, which General Electric Co. bought in July, said its losses narrowed 17% in the third quarter to $122 million, from $147 million in losses in the previous quarter, as it works to merge the oil-field services businesses of the two companies.
Lorenzo Simonelli, CEO of the newly combined company, agreed with his counterpart at Schlumberger, saying he saw a “deceleration” in U.S. drilling activity in the last quarter.
—Bradley Olson contributed to this article.
Write to Christopher M. Matthews at