Frac market temporarily weakening Like oilfield services giant Schlumberger (ticker: SLB) reported on Friday, this week Halliburton (ticker: HAL) said it too is seeing a slowdown in the overall U.S. frac landscape. The company saw a slight increase in revenue in Q3 despite the slowdown, receiving $6.17 billion compared to $6.15 billion in Q2. Operating and net income showed declines,
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
Oilfield service giant Halliburton Company (NYSE: HAL) reported Q2 income from continuing operations of $511 million, or $0.58 per diluted share. This compares to reported income from continuing operations for the first quarter of 2018 of $46 million, or $0.05 per diluted share, and adjusted income from continuing operations for the first quarter of 2018 of $358 million, or $0.41
From the Houston Chronicle Saudi Arabia will partner with Houston-based Halliburton as it hopes to unlock a natural gas revolution similar to the shale boom that began in the U.S. more than a decade ago. State oil company Saudi Aramco signed a three-year contract Sunday with the North American fracking leader to handle the hydraulic fracturing and completions of its
Market is 1 million to 1.5 million horsepower undersupplied Halliburton Company (ticker: HAL) reported an income of $46 million, or $0.05 per diluted share for the first quarter of 2018. This is an improvement over Q1 2017’s net loss of $32 million, or $(0.04) share. “We achieved total company revenue of $5.7 billion, representing a 34% increase compared to the
Venezuela’s citizens are left holding a bag, one that is saddled with $60 billion dollars worth of debt. Citizens of Venezuela have been buying into bonds due to government policies of subsidizing the purchase of foreign debt by individual investors, Reuters reported in December 2017. Big businesses in the country have also poured money into the bonds, hoping to capitalize
Halliburton Company (ticker: HAL) announced a loss from continuing operations of $805 million, or ($0.92) per diluted share, for the fourth quarter of 2017. Adjusted income from continuing operations for the fourth quarter of 2017, excluding charges related to United States tax reform and Venezuela receivables, was $462 million, or $0.53 per diluted share. This compares to income from continuing
BHI, GE, Shell, Halliburton make, wrap deals Baker Hughes-GE complete $32 billion mega-deal; combined business began trading today under new symbol: BHGE Baker Hughes, a GE company (ticker: BHGE) completed its combination of GE Oil & Gas with Baker Hughes Inc. The combined company becomes the world’s second largest oilfield services company, fitting between Schlumberger at the top of the
One step closer to final After an investigation of possible competition concerns, the European Commission has cleared unconditionally the acquisition of Baker Hughes Incorporated (ticker: BHI) by General Electric Company (ticker: GE), the Commission announced today. The Commission concluded that the transaction would not adversely affect competition in the relevant markets. On a number of specific markets the two companies sell competing
Dave Lesar passes CEO baton to Jeff Miller, remains executive chairman After nearly 17 years at the helm of Halliburton (Ticker: HAL), Dave Lesar will be passing the title of CEO on to the company’s current president, Jeff Miller. The company announced Wednesday that its board of directors unanimously elected Miller to the role of both president and CEO effective
Efficiency is way more important than pricing: Lesar Halliburton (NYSE: HAL) released its fourth quarter 2016 results Monday, reporting numbers that indicate that the recovery is well underway in North America’s oil and gas sector. Improved pricing in the second half of the year saw E&P companies drilling more wells, which led to higher demand for Halliburton’s services and a
Monster fracs, superlaterals are here to stay Remember when that kid you didn’t like in middle school used to tell you to ‘go pound sand’? Somebody who later became a petroleum engineer has heeded that advice and began to work on the monster frac. Sand, known in the oil and gas industry as proppant, is what’s hot. In today’s world
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