For several quarters, Schlumberger 's(NYSE: SLB) management team has probably been the most pessimistic about when the recovery for the oil and gas market might come. Halliburton (NYSE: HAL) CEO Dave Lesar said very similar things about the timing of the recovery across the oil and gas industry. An odd symptom of the recovery There is no denying the fact that service cost deflation has played a big part in shale drilling becoming much more economical over these past couple of years.