Halliburton executives recently discussed market conditions, the COVID-19 pandemic and Russia/Ukraine conflict. They said oil and natural gas prices continue to be impacted by the efforts to contain COVID-19, the pace of economic recovery, and changes to OPEC+ production levels.
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This Week’s Market Buzz
• The hydraulic fracturing market through 2023 is expected to be tight. Horsepower and water demand are both projected to rise next year, and sand will likely continue to be an issue, according to Luke Smith, U.S. onshore analyst at Westwood Global Energy Group.
Read MoreHalliburton Sees Spike in Total Revenue
Halliburton Co. announced net income of $109 million, or $0.12 per diluted share, for the second quarter of 2022. This compares to net income for the first quarter of 2022 of $263 million, or $0.29 per diluted share. Adjusted net income for the second quarter of 2022, excluding impairments and other charges, was $442 million, or $0.49 per diluted share.…
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• At press time, West Texas Intermediate crude futures were trading above $122 per barrel, while Brent Crude was trading above $123 per barrel.
Read MoreHalliburton Loses $1.7 Billion for Quarter
Halliburton announced a net loss of $1.7 billion, or $1.91 per diluted share, for the second quarter of 2020. This compares to a net loss for the first quarter of 2020 of $1.0 billion, or $1.16 per diluted share.
Read MoreHalliburton Addresses COVID-19, Quarterly Results
Halliburton Co. announced a net loss of $1.0 billion, or $1.16 per diluted share, for the first quarter of 2020. This compares to net income for the first quarter of 2019 of $152 million, or $0.17 per diluted share. Adjusted net income for the first quarter of 2020, excluding impairments and other charges and a loss on the early extinguishment…
Read MoreHalliburton Celebrates 100th Anniversary
Halliburton Co. celebrated its 100th anniversary, including more than 60 years of service in Argentina. Since its operations began in the country in 1956, Halliburton Argentina has led local oil and gas industry development by introducing new techniques and technology to the region.
Read MoreHalliburton Cuts Workers; Idles Gear
Halliburton Co. is shifting strategy in its largest region to deal with subdued customer spending by trimming 8% of its North American workforce and shelving unused frack gear, according to Bloombeg.
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Select Sands Corp. announced as part of its plans to improve logistics and create better efficiencies, the company has completed a new private road to gain direct access to a recently rebuilt Federal Highway from its producing Sandtown Quarry in Arkansas. Zig Vitols, president and CEO of Selects Sands said, “We continue to see strong demand for our Northern White…
Read MoreMicrosoft, Halliburton Collaborate on Digital Project
Microsoft and Halliburton announced plans to enter into a strategic alliance to drive digital transformation across the oil and gas industry. The relationship will combine the expertise of a global leader in cloud and digital transformation with a global leader in exploration and production (E&P) science, software and services.
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