Chief Executive Dave Lesar said Monday that demand for oil field services in North America, such as hydraulic fracturing, continues to grow faster than companies like his can add equipment as producers rush to drill unconventional oil basins.
Halliburton reported a profit of $739 million, or 80 cents a share, up from $480 million, or 53 cents a share, a year earlier. The latest period included a penny in restructuring-related costs. Revenue climbed 35% to $5.94 billion, which set a new company record.
Analysts polled by Thomson Reuters most recently forecast earnings of 74 cents a share on revenue of $5.71 billion.
Tuesday, July 19, 2011
Halliburton: Fracking Industry Can't Keep Up With Demand -- Bakken, North Dakota, USA
Link here.
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