Halliburton Archives - Page 6 of 11

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

March 24, 2020

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 spending target, but is testing scenarios including a 60-65% reduction in some areas of the oilfield services sector, Chief Financial Officer Lance

U.S. was net exporter of crude, fuel for five straight weeks, longest streak on record: EIA- oil and gas 360

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

March 18, 2020

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 Belt Campus will work one week and take one week off during the 60 days, the company said. Employees won’t be

Halliburton wins offshore wells contract for Australian LNG project

January 28, 2020

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 the next phase of offshore field development in the Browse Basin off the coast of northern Australia. In one of

Halliburton closes 2019 with $1.7 billion loss

January 21, 2020

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 compare to a nearly $1.7 billion profit in 2018. Halliburton reported $22.4 billion in revenue for the year, a 7 percent

Halliburton to close office in Oklahoma, lay off 800 employees

December 3, 2019

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 Vice President of the MidCon Area Michael Queener wrote that the company expects to close its office in El Reno, Oklahoma.

U.S. rig count had an increase of 1 this week, at 255- oil and gas 360

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

November 11, 2019

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 sides agreed to resolve the matter in court. But the temporary shutdown is another example of the tensions and uncertainties that U.S. energy

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

October 28, 2019

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 Concho Resources (CXO.N) this week kick off quarterly earnings reports for a group whipsawed this year by volatile pricing and investor demands

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

October 24, 2019

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 amid weak oil prices has prompted U.S. shale producers to reduce spending, forcing rig providers to lower costs in the

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

October 21, 2019

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 hydraulic fracking services provider, which earlier this month cut 650 jobs in North America, said it would take steps over the

Halliburton lays off 650 employees in four western states

October 9, 2019

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 company laid 178 workers from its Grand Junction, Colo. office. Company officials attributed the layoffs to “local market conditions.” The

Lonestar Announces Results for Horned Frog Wells - Oil & Gas 360

Energy Bankruptcies Back on the Rise in 2019

August 15, 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 the aggregate debt from 2019 bankruptcy filings of almost $20 billion has already surpassed the roughly $17 billion from a

Halliburton Lands Nine Contracts for Offshore Project in West Africa

August 12, 2019

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 part of the first phase of developing the SNE Field off the coast of Senegal. Financial terms have not been

Premium Content