Halliburton Co
XMUN:HAL
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Halliburton Co
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Halliburton Co
Halliburton is one of the world’s biggest oilfield services companies. It does not produce oil itself. Instead, it helps oil and gas producers find wells, drill them, complete them, and bring the oil or gas to the surface. Its main work includes drilling services, well construction, cementing, pressure pumping, and tools and software used to steer and monitor wells. Its customers are mainly oil and gas companies, from large integrated producers to smaller exploration and production firms, plus some national oil companies. Halliburton makes money by charging for equipment, labor, specialized tools, and service contracts tied to drilling and well completion projects. A lot of its business depends on how much its customers spend on drilling activity and on maintaining existing wells. What makes Halliburton’s role important is that it sits in the middle of the energy production chain. It sells the know-how and equipment needed to turn underground reserves into usable production, especially in technically difficult wells like shale and deepwater projects. That makes it a service provider to energy producers rather than a commodity producer itself.
Halliburton is one of the world’s biggest oilfield services companies. It does not produce oil itself. Instead, it helps oil and gas producers find wells, drill them, complete them, and bring the oil or gas to the surface. Its main work includes drilling services, well construction, cementing, pressure pumping, and tools and software used to steer and monitor wells.
Its customers are mainly oil and gas companies, from large integrated producers to smaller exploration and production firms, plus some national oil companies. Halliburton makes money by charging for equipment, labor, specialized tools, and service contracts tied to drilling and well completion projects. A lot of its business depends on how much its customers spend on drilling activity and on maintaining existing wells.
What makes Halliburton’s role important is that it sits in the middle of the energy production chain. It sells the know-how and equipment needed to turn underground reserves into usable production, especially in technically difficult wells like shale and deepwater projects. That makes it a service provider to energy producers rather than a commodity producer itself.
Results: Halliburton reported first-quarter revenue of $5.4 billion, operating margin of 13%, and net income per diluted share of $0.55, with international strength partly offset by weakness in North America.
Middle East: Management said conflict-related disruption in the Middle East hurt both revenue and costs, and they now expect a $0.07 to $0.09 per share impact in Q2, assuming some offshore work restarts mid-quarter.
North America: The company said U.S. land is showing early signs of recovery, with first-half frac calendar gaps now largely filled and tighter supply beginning to support pricing.
International growth: Outside the Middle East, Halliburton expects international revenue to grow in the mid- to high single digits for the full year, led by Latin America.
Technology wins: Halliburton highlighted a multibillion-dollar Argentina award with YPF and progress in automated drilling and closed-loop geo-steering, including the Sekal acquisition and ZEUS electric fracturing expansion.
Capital returns: Buybacks were lighter at $100 million in Q1, but management said repurchases should step up in Q2 and in the second half of the year.
