WRAPUP 1-Fluor, McDermott show where the energy activity is

* Fluor gives weaker outlook; McDermott Q3 beats estimates

* Fluor feels brunt of energy slump, outlook "cautious"

* McDermott benefits from offshore oil & gas building boom

* Fluor shares down 6 percent, McDermott shares flat

By Braden Reddall

SAN FRANCISCO, Nov 9 (Reuters) - Third-quarter results from two big U.S. engineering and construction companies on Monday offered a timely snapshot of where money is and isn't being spent right now in the oil and gas business.

On the one hand, Fluor Corp (FLR.N) took a $1.2 billion hit to its backlog of orders -- now $28 billion -- due to exposure to an indefinitely delayed Russian gas processing facility.

This and a reduced 2009 profit outlook weighed on the shares of the sector's largest publicly traded company, which fell 6 percent in after-hours trading. [ID:nN09277429]

While the Russian drilling market has shown signs of improvement recently, a collapse in natural gas prices in the past year has jolted energy companies exposed to the country.