Halliburton Has Huge Operations In Heart of the Bakken -- For Investors Only

Forbes link here.

Halliburton will surge on its North American business, particularly fracking as the U.S. shale play continues to evolve, analysts at RBC Capital Markets argue.  The large oilfield services provider won’t derive much profit from its international operations, but it will see Iraqi production stabilizing and unconventional gas plays develop across the globe, setting it up to benefit in the future.

While exploration and production companies have had a stellar year, with Exxon Mobil and Chevron both showing double-digit percentage gains, oil and gas service providers have substantially underperformed.  Halliburton and Schlumberger, the two largest players, are down 18% and 12% for the year, respectively.

But Halliburton’s luck could begin to change.  With about 75% of its revenues coming from its North American operations, RBC’s equity analysts believes the company is poised to surge on the expansion of shale plays and hydraulic fracturing, or fracking.

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