Halliburton profit spikes in 3Q

Driven by North American market, oilfield services provider Halliburton recorded a significant increase in its profit and revenues for the third quarter of the year compared to the prior-year period. 

In its financial report on Monday, Halliburton posted a $365 million net profit attributable to Halliburton for the third quarter of this year, a significant increase from the profit of $6 million made in the corresponding period of 2016.

Further according to the report, Halliburton’s revenues during the third quarter 2017 rose to $5.4 billion from $3.8 billion in the same period of 2016.

“We had a strong quarter and I am very pleased with our results. Our North American business is hitting on all cylinders and our international business proved resilient in a challenging environment,” remarked Jeff Miller, President and CEO.

“Total company revenue was $5.4 billion, representing a 10% increase compared to the second quarter of this year. Total operating income was over $630 million, primarily driven by continued strengthening of market conditions in North America and improved profitability in our Drilling and Evaluations product lines.”

Namely, Halliburton’s North America revenue in the third quarter of 2017 was $3.2 billion, a 14% increase sequentially, relative to a 6% increase in average U.S. rig count.

International revenue in the third quarter of 2017 was $2.3 billion, a 4% increase sequentially, resulting primarily from increased activity across multiple product services lines in Latin America, and increased pressure pumping services and drilling activity in the Eastern Hemisphere.

Offshore Energy Today Staff

Share this article

Follow Offshore Energy Today

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

Africa Oil Week 2020

For over 25 years Africa Oil Week has been the meeting place for Africa’s most senior E&P stakeholders.

read more >

CERAWeek 2020

 Each year, CERA clients gathered for a few days in Houston…

read more >

Offshore Technology Conference (OTC) 2020

The Offshore Technology Conference (OTC) showcases leading-edge technology for offshore drilling, exploration…

read more >

2020 EXPLORATION AND PRODUCTION STANDARDS CONFERENCE ON OILFIELD EQUIPMENT AND MATERIALS

The development of consensus standards is one of API’s oldest and most successful programs.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply