Shares of Halliburton Co. fell on Wednesday as crude-oil prices slipped and other oil services shares dropped, hurt by the toll the economic slowdown has taken on oil and gas exploration financing.

Halliburton shares fell 36 cents, or 2.3 percent, to $15.06, shedding 73 percent of its value since its summer peak of $55.38. Crude-oil prices dipped 17 cents to $46.79.

Oil service providers such as Halliburton and Schlumberger Ltd. contract with oil companies who hire them for a variety of well-site jobs that can include seismic tests, directional drilling and reservoir management.

Houston-based Halliburton last month warned that the global economic downturn and tumbling oil prices could damage revenue growth and other performance targets next year. Since crude-oil prices reached a record high this summer, crude has shed over two-thirds its value, with prices falling below $50 a barrel. These factors combined have caused many producers to cut back on spending and stop some drilling projects.

Still, Mark Brown, an analyst with Pritchard Capital Partners, said on Wednesday that he believes Halliburton can weather this slowdown. He said the company “appears well-positioned due to its services breadth, blue chip customers, differentiated technologies and international growth.”

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