Halliburton Sees Signs of an Oil Rebound in North America
by Bloomberg | Emma Sanchez
click here to read this article at Rigzone.com
*this article was not written by Roseland Oil & Gas
Halliburton Co. said it sees signs of a resurgence in oilfield activity in North America, comments that come after the Iran war upended the global crude market and pushed energy prices sharply higher.
“In North America, I see clear signs that we are in the early innings of a recovery,” Halliburton Chief Executive Officer Jeff Miller said in the company’s first-quarter earnings statement Tuesday.
Gaps in the company’s schedule for the second quarter in the region are “all but gone,” Chief Operating Officer Shannon Slocum said during a call with analysts and investors Tuesday. Planned activity is accelerating and business for the second half of the year is firming up, particularly from smaller customers that tend to move faster, Slocum added.
“I think the next flip of the coin would be rig adds and some longer-term discussions” on fracking activity, Slocum said.
The world’s biggest provider of fracking services said its performance in international markets outpaced disruptions from the Iran conflict. In Latin America, revenue grew 22% compared with the same period in 2025. That region is expected to lead gains in Halliburton’s international revenue outside of the Middle East this year, Slocum said during the call.
Halliburton Co. said it sees signs of a resurgence in oilfield activity in North America.
Halliburton is the first major oil contractor to report results since the start of the war, which has all but cut off the flow of oil and natural gas from the Persian Gulf. That’s been a blow to oilfield service providers counting on the Middle East for growth as shale fields in the US mature.
For the first quarter overall, the company’s adjusted earnings per share beat the average analyst estimate. Still, Halliburton said the conflict in the Middle East affected its drilling and evaluation divisions, reducing net income by about 2 to 3 cents per diluted share. Impacts could range from 7 to 9 cents per share for the second quarter, Chief Financial Officer Eric Carre said on the call.
The company’s shares rose as much as 5.5%, the most in more than three months, on Tuesday in New York before paring some gains.
Halliburton “posted a solid beat across the board” that was “driven by international strength that more than offset continued North America softness,” James West, an analyst at Melius Research, wrote in a note to clients.
Halliburton generated about 26% of its revenue last year from the Middle East and Asia. SLB, the world’s largest oilfield contractor, relies on the regions for about a third of its sales and will report results on Friday.
While the war poses challenges for oil contractors in the short term, Halliburton and its rivals may benefit in the long run once the conflict ends and nations rebuild their damaged energy infrastructure.
by Bloomberg | Emma Sanchez
click here to read this article at Rigzone.com
*this article was not written by Roseland Oil & Gas