Halliburton Co, the world's No 2 oilfield services provider, reported a smaller-than-expected quarterly loss and said it expects to see a "modest uptick" in North American rig count in the second half of the year.
Shale oil companies have started putting rigs back to work, encouraged by a near 70 percent jump in US benchmark oil prices since hitting a 12 year-low of $26 in February.
The rig count in North America has improved by 26 over the last several weeks, Halliburton said on Wednesday.
"We believe the North America market has turned," Chief Executive David Lesar said in a statement.
"With our growth in market share during the downturn, we believe we are best-positioned to benefit from any recovery, including a modest one."
Halliburton, which derives about 40 percent of its revenue from North America, is more exposed to the region than rivals Schlumberger NV and Baker Hughes Inc.
Halliburton and Baker Hughes scrapped their deal - valued at about $35 billion when it was announced in November 2014 - in May after opposition from US and European antitrust regulators.