"Any recovery in gas drilling is likely to be relatively modest for the rest of 2009,"...

|By:, SA News Editor

"Any recovery in gas drilling is likely to be relatively modest for the rest of 2009," Halliburton (HAL +1.6%) CEO David Lesar warns investors on this morning's earnings call (full transcript later). Natural gas storage levels have swelled despite a brisk pullback in drilling; nat-gas inventory, currently 2.886T cubic feet, is 26% higher than a year ago and 19% higher than the five-year average.