The Latest Sign That Permian Shale Oil Is Choking Down: HAL Warns on Q3 Earnings
From Investor’s Business Daily Oilfield services giant Halliburton (HAL) warned on third-quarter earnings at a conference Wednesday as customers face “budget exhaustion” while a transport backlog in the Permian Basin hits shale oil stocks. At the Barclays conference in New York, Halliburton CEO Jeff Miller cited pipeline bottlenecks, a tight labor market and inflation that created a worse-than-expected downturn in the Permian. These