UPDATE 1-RPC posts Q3 loss - Reuters

) reported a third-quarter loss as depressed oil andgas prices led to lower drilling activity that continued topressure pricing for the company's services, and it also gave acautious outlook, sending its shares down as much as 7 percent.

Manufacturer of Hydraulic Oil Tanks India

Oilfield services companies were hit hard as oil and gasproducers slashed spending this year. Firmer oil prices havehelped stabilize spending in some areas, but natural gas pricesglobally have been too low to justify drilling many new wells. "No one knows for certain if we've seen the bottom of thisindustry wide downturn," Chief Executive Richard Hubbell saidon a conference call with analysts.

Full Story: UPDATE 1-RPC posts Q3 loss - Reuters