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
Halliburton: things are getting better for us and our customers In Halliburton’s (ticker: HAL) Q3 2016 conference call today, CEO Dave Lesar characterized the business climate in Q3 for the company and gave some hints about where the industry feels like it is heading in Q4 2016 and into 2017. The following excerpts are from Lesar’s and other HAL executives’
A detailed look into the drilling of the industry’s longest onshore lateral – an exclusive interview with Eclipse Resources’ COO Tom Liberatore, Halliburton VP Tony Angelle, and Deep Well Services’ Matt Tourigny As oil and natural gas producers search for ways to create profitability in today’s market, drillers are looking to make each well they drill more economic than the
You can’t underestimate the positive change in attitude that we are seeing in our North American customers, they’re getting back to business: Lesar Oilfield service giant Halliburton (ticker: HAL) announced its second quarter results today, reporting a larger loss than in the first three months of the year, but the company’s management was clearly optimistic that this quarter represented what
Halliburton + Baker Hughes Deal Dies, but their Intriguing Backstory Lives On Now that the Halliburton+Baker Hughes (tickers: HAL, BHI) merger deal is going into the history books as an official bust (as of yesterday’s announcement), it’s entertaining to read the backstory behind the making of the deal that would have created the world’s second largest oilfield services company. The chain of
