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. Cameron International's business is much more tied to the offshore and deepwater part of the industry, and chances are that will take much longer to recover than other parts of the business -- such as North American shale.