Post Tagged with: "halliburton"

Source: Reuters

Oilfield spending to fall 21% as producers slash outlays: report

Reuters


Global spending on oilfield equipment and services this year will fall 21% from 2019 to $211 billion, the lowest level since 2005, according to a report to be released on Wednesday by consultancy Spears & Associates, as oil and …

Source: Houston Chronicle

Fracking giants warn shale crash will be faster this time

Houston Chronicle


Two of the world’s biggest oilfield service companies are warning of a bigger shale crash than the one that hit the U.S. and Canada just five years ago.

While the decline in North American drilling rigs could approach …

Source: nasdaq.com

Halliburton to ‘significantly’ cut 2020 capex below $1.2 billion budget

Reuters


Oilfield services firm Halliburton (HAL.N) is accelerating its cost-cutting and will significantly reduce spending this year below its original $1.2 billion budget, its finance chief said on Tuesday.

The Houston, Texas-based company did not disclose a new …

Source: Houston Chronicle

Halliburton to furlough 3,500 employees in Houston amid falling oil prices

Houston Chronicle


Oilfield service giant Halliburton plans to furlough about 3,500 employees of its Houston headquarters for the next two months amid grim market conditions that include four year-low oil prices and the coronavirus outbreak.

Employees at the company’s North …

Source: Houston Chronicle

Halliburton wins offshore wells contract for Australian LNG project

Houston Chronicle


Houston oil-field service company Halliburton has landed a contract for offshore natural gas wells that will feed an LNG project in Northwest Australia.

In a statement released early Monday, Halliburton said it won drilling and completion services for …

Source: Houston Chronicle

Halliburton closes 2019 with $1.7 billion loss

Houston Chronicle


Houston oil field service company Halliburton said Tuesday that it closed 2019 with a $1.1 billion loss amid an ongoing shale slump in the United States that has weakened demand for hydraulic fracturing and related services.

The loss …

Source: Houston Chronicle

Halliburton to close office in Oklahoma, lay off 800 employees

Houston Chronicle


Houston oilfield service company Halliburton plans to close an office just west of Oklahoma City where more than 800 employees are losing their jobs.

In a Monday morning letter filed with the Oklahoma Office of Workforce Development, Halliburon …

December 3, 2019 - 12:00 pm Closing Bell Story‎, Economy, Energy News, Oilfield Services, People
Venezuelan mayor seizes Baker Hughes office for ‘not paying local taxes’

Venezuelan mayor seizes Baker Hughes office for ‘not paying local taxes’

Source: Houston Chronicle


A mayor in Venezuela temporarily seized an office belonging to Houston oilfield service company Baker Hughes, claiming that the company “chronically failed to pay municipal taxes.”

Baker Hughes said the office has since been reopened after both …

Source: Reuters

Investors brace for poor U.S. shale earnings amid weak oil and gas prices

Source: Reuters


(Reuters) – Investors are bracing for weaker results from U.S. shale players in coming days as lower oil and natural gas prices and cost-cutting measures have weighed on third-quarter operations.

Major shale producers ConocoPhillips (COP.N) and …

Source: patenergy.com

Patterson-UTI cost cuts help it post smaller-than-expected loss

Source: Reuters


(Reuters) – Oilfield services firm Patterson-UTI reported a smaller-than-expected loss on Thursday, as cost cuts helped it limit the impact of an ongoing decline in North American shale activity.

An investor push toward higher returns instead of growth …

FILE PHOTO: Oil production equipment is seen in a Halliburton yard in Williston, North Dakota, U.S., April 30, 2016. REUTERS/Andrew Cullen/File Photo

Halliburton vows more cost cuts as shale demand dwindles, shares rise

Reuters:


Halliburton Co on Monday promised more cost cuts after reporting a bigger-than-expected drop in quarterly revenue as the oilfield services looks to counter weak demand from North American shale producers, sending its shares up about 7%.

The biggest …

October 21, 2019 - 8:53 am Closing Bell Story‎, Oilfield Services
Photo: Steve Gonzales, Staff

Halliburton lays off 650 employees in four western states

Houston Chronicle


Houston oilfield service giant Halliburton has laid off 650 employees in four western states from New Mexico to North Dakota.

In a notice filed on Monday with the Colorado Department of Labor and Employment, Halliburton reported that the …

October 9, 2019 - 3:21 pm Closing Bell Story‎, Economy, Oilfield Services
Source: Lonestar Resources

Energy Bankruptcies Back on the Rise in 2019

From The Houston Chronicle


After a recovery from the last oil bust, energy bankruptcies are back on the rise in 2019.

The number of oil and gas bankruptcy filings through mid-August has nearly equaled the total tally from 2018, and …

Halliburton Lands Nine Contracts for Offshore Project in West Africa

Halliburton Lands Nine Contracts for Offshore Project in West Africa

From The Houston Chronicle


Houston oilfield service company Halliburton has landed nine contracts to drill and complete a series of wells off the coast in West Africa.

Australian exploration and production company Woodside Energy awarded the contracts to Halliburton as …

GE’s Baker Hughes Beats Estimates on International Demand, LNG Drilling

GE’s Baker Hughes Beats Estimates on International Demand, LNG Drilling

From Reuters


General Electric Co’s oilfield services arm, Baker Hughes, beat quarterly profit estimates on Wednesday, driven by higher LNG drilling and demand for its oilfield services in international markets, sending its shares up nearly 6%.

Revenue in the oilfield …

Halliburton Cuts 8% of North American Jobs in Frack Slowdown

Halliburton Cuts 8% of North American Jobs in Frack Slowdown

From Bloomberg


Company executing new ‘playbook’ to deal with customer changes, shale producers are trimming spending amid investor pressure

Halliburton Co. is shifting strategy in its largest region to deal with subdued customer spending by trimming 8% of its North …

Source: Kuwait Oil Company

Kuwait Teams Up with Halliburton

By Tyler Losier, Energy Reporter, Oil & Gas 360

First offshore project for Kuwait since early 1980s
Kuwait Oil Company (KOC) and Halliburton (stock ticker: HAL) have signed an integrated offshore drilling services contract for six high-pressure, high-temperature exploration wells

Source: Emerson

Former Baker Hughes CEO Martin Craighead Joins Board

By Tyler Losier, Energy Reporter, Oil & Gas 360

Emerson Electric (stock ticker: EMR) named Martin S. Craighead, former chairman, president, and CEO of Baker Hughes, to its board of directors.

Most recently, Craighead served as the vice chairman of

Service Giants May Offer Signs of Recovery During Earnings

Service Giants May Offer Signs of Recovery During Earnings

From Bloomberg

It’s been a tough few years for Schlumberger Ltd. and Halliburton Co., but the oilfield services giants may finally be on an upward curve, thanks to a recovery in international drilling activity and signs of something similar …

Heard On The Call: Halliburton

Heard On The Call: Halliburton

Halliburton (ticker: HAL) Chairman, President and CEO Jeff Miller discussed the company’s perspective and prospects in Halliburton’s conference call.

“Today, our industry is going through a transformation, brought on by the Shale Revolution and the recent down cycle. Because of

Halliburton Shares Fall as North America Lags

Halliburton Shares Fall as North America Lags

From Reuters

Shares of oilfield firm Halliburton Co (HAL.N) fell sharply on Tuesday after the company forecast lower revenues in key business areas in the first quarter, overshadowing a quarterly profit beat and a pledge to reduce 2019 …

January 22, 2019 - 12:13 pm Closing Bell Story‎, Earnings, Energy News, Oilfield Services
Halliburton CEO Miller Becomes Chairman

Halliburton CEO Miller Becomes Chairman

Lesar retires as exec chairman
Halliburton (stock ticker: HAL) CEO Jeff Miller has been named chairman, effective Jan. 1, 2019, following the retirement of Executive Chairman Dave Lesar on Dec. 31, 2018.

"I appreciate the confidence that the Board has

Halliburton’s Guided Tour of the U.S. Basin Slowdowns

Halliburton’s Guided Tour of the U.S. Basin Slowdowns

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

The Latest Sign That Permian Shale Oil Is Choking Down: HAL Warns on Q3 Earnings

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 …

Halliburton Doubles Operating Income

Halliburton Doubles Operating Income

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 …

Aramco Hires Halliburton for Unconventional Gas Completions

Aramco Hires Halliburton for Unconventional Gas Completions

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 …

May 29, 2018 - 10:27 am Closing Bell Story‎, Energy News, International
Halliburton

Halliburton Writes Down All Remaining Venezuela Investments

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 …

The North Sea Will Have Legs in 2018: Halliburton CEO Miller

The North Sea Will Have Legs in 2018: Halliburton CEO Miller

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 …

Oil & Gas Consolidations Move Ahead

Oil & Gas Consolidations Move Ahead

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

Europe Clears Acquisition of Baker Hughes by General Electric

Europe Clears Acquisition of Baker Hughes by General Electric

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 …