Monday, November 18, 2019

Halliburton Co News

Hunting Warns on Profit

(Photo: Hunting Plc)

British oilfield services firm Hunting Plc warned on Tuesday that annual core profit would be at the lower end of market expectations as it grapples with a slowdown in the U.S. onshore drilling market, sending its shares down as much as 7%.Without giving numbers…

US Gives Chevron More Time in Venezuela

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The U.S. Treasury Department on Monday renewed a license allowing Chevron, the last U.S. operating energy company in Venezuela, to continue drilling in the country for another three months through Jan. 22.The license has been a subject of…

Halliburton Promises Cost Cuts

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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…

ProPetro Cuts Almost 150 Workers

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ProPetro Holding Corp this month cut about 150 workers, people familiar with the matter said on Monday, the latest sign of growing trouble in the oilfield services sector as U.S. shale producers reduce drilling.The job cuts reflect slowing shale activity due to weak prices for oil and gas…

Baker Hughes: U.S. Oil Drillers Cut Rigs Again

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U.S. energy firms this week reduced the number of oil rigs operating for a third week in a row after drilling slowed for nine straight months as independent producers cut spending by about 10% this year.Drillers cut four oil rigs in the week to Sept.

Halliburton Profit Beats Estimates

(Photo: Halliburton)

Halliburton Co on Monday beat analysts' estimates for second-quarter profit as its Completions and Production unit outperformed expectations, pushing its shares up 6.8 percent in early trading.The Houston, Texas-based company is a leading…

Oilfield Services Firms Keane, C&J Merge

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Oilfield services company Keane Group Inc said on Monday it will merge with rival C&J Energy Services in a $745.7 million all-stock deal, as it looks for scale amid spending cuts by crude producers.The oil service sector has been battling lower demand and pricing pressure as U.S.

Baker Hughes Profits from Foreign Focus

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Baker Hughes reported negative free cash flow for the first quarter at a time energy investors have been pushing companies to aggressively shore up capital for dividends and buybacks, sending its shares down as much as 8.5 percent.Oilfield service companies…

Halliburton Reports Activity Uptick

(Photo: Halliburton)

Halliburton Co said on Monday a pricing downturn that has plagued the oilfield services sector was bottoming out, as it reported modestly higher activity levels in North America in the first quarter from a year earlier.Oilfield services…

Schlumberger Names Olivier Le Peuch as COO

Olivier Le Peuch (Photo: Schlumberger)

Schlumberger NV on Friday named Olivier Le Peuch as chief operating officer, setting him up as a possible successor to Paal Kibsgaard for the top role at the world's largest oilfield services company.Le Peuch has previously served as the…

Schlumberger Names Le Peuch as Chief Operating Officer

Olivier Le Peuch (Photo: Schlumberger)

Schlumberger NV on Friday named Olivier Le Peuch as chief operating officer, setting him up as a possible successor to Paal Kibsgaard for the top role at the world's largest oilfield services company.Le Peuch has previously served as the…

Baker Hughes Adjusted Profit Surges 85%

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Baker Hughes, General Electric Co's oilfield services arm, posted an 85 percent jump in adjusted quarterly profit on Thursday, boosted by surging demand for its services.Unlike rivals Schlumberger NV and Halliburton Co, Baker Hughes has…

Halliburton Profit Beats on International Demand

(Photo: Halliburton)

Halliburton Co beat Wall Street estimates for quarterly profit on Tuesday, as higher demand for its oilfield services in international markets offset a slowdown in North America.Clients in North America, Halliburton's biggest market by revenue…

Baker Hughes Predicts Oil Market Growth, Misses on Profit

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Baker Hughes, General Electric Co's oilfield services arm, fell just short of estimates for profit in the third quarter while forecasting a rise in North American and foreign markets in 2019 that ran contrary to signals from its peers.The…

Halliburton Sees Lower Fourth-Quarter Profit

Halliburton Co on Monday forecast lower per share profit for the fourth quarter due to pipeline bottlenecks and lower spending by customers in North America.The oilfield services provider expects fourth-quarter profit to be in the range of 37 to 40 cents per share…

Baker Hughes to Bid for Petrobras Production-sharing Contract

General Electric Co's unit Baker Hughes is preparing an offer for a production-sharing deal with Brazil's Petrobras, a Baker Hughes executive said on Tuesday, as the state-run oil company seeks creative ways to boost output from mature fields.Reuters…

Weatherford CEO's Rebound Plan Relies on Getting Smaller

(Photo: Weatherford)

Four years ago, oilfield company Weatherford International Plc pledged to sell non-core businesses and make paying down debt its top priority after years of borrowing and over spending.It almost worked. Asset sales provided some $1.8 billion to pare debt…

Halliburton Revenue Beats on Higher North America Rig Count

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Oilfield services provider Halliburton Co's quarterly revenue rose 24 percent to beat analysts' estimates on Monday as higher oil prices encouraged U.S. oil and gas producers to put more rigs to work.U.S. rig count, an early indicator of future output…

US Oil Rig Count Continues Climb

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The U.S. oil drilling rig count rose for the fourth week in a row and ended the month sharply higher as producers plan to boost output as they reap profits from crude trading near three-year highs.Drillers added five oil rigs in the week to April 27…

Halliburton Revenue Jumps 34 pct

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Oilfield services provider Halliburton Co reported a 34 percent jump in first-quarter revenue on Monday as rising oil prices prompted North American companies to boost oil and gas production. Net income attributable to Halliburton was $46 million…