Results for the third quarter were indicative of a market under pressure, though oilfield services company Baker Hughes said recovery was on the horizon. The company, which was the target of a takeover bid by rival Halliburton at the depth of the market downturn early this year, said it took a $429 million net loss for the third quarter. That follows steep reductions in staffing, but marks an improvement over the $911 million loss during the previous quarter . Chairman and CEO Martin Craighead said project delays and a reduction in activity in the Gulf of Mexico, West Africa and Norwegian operations were to blame for much of the declines for the third quarter. “Looking ahead, in the fourth quarter of 2016 we expect activity in North […]