Energy services company Baker Hughes,reported weaker than expected third quarter earnings on Wednesday before the market open. Oilfield services were negatively impacted by Hurricane Ida and supply chain problems. $BKR peers Halliburton reported Monday and Schlumberger reports Friday.
Halliburton Sees Multi Year Upcycle Unfolding With Increased Demand for Services
Oil and gas servicing giant Halliburton reported mixed third quarter earnings Tuesday before the market. EPS were as expected but revenue lower. Improved North American and international markets for drilling, completion, and production with $HAL’s aggressive approach to cutting costs flowed through. The Baker Hughes oil rig count benefiting oil service companies have been recovering since falling off the cliff with the decreased activity in North America and the world since the Covid pandemic. Halliburton serves the upstream oil and … Continue reading “Halliburton Sees Multi Year Upcycle Unfolding With Increased Demand for Services”
Drilling Ramps Up in Oil Patch With Natural Gas Rig Count Unchanged
U.S. oil rigs in service rose 7 this week with U.S. oil production at 11.40 million bpd and oil prices consolidating between $65 and $75. US Natural gas rigs remained flat. US natural gas prices at 3 year highs and 10 year highs in Europe all eyes are production numbers.
Halliburton Earnings Rise as Multi Year Upcycle Unfolds
Oil and gas servicing giant Halliburton reported better than expected second quarter earnings Tuesday before the market. Improved North American and international markets for drilling, completion, and production with $HAL’s aggressive approach to cutting costs flowed through.
U.S. Oil Rigs Fall Back To All Time Low, Natural Gas Rise 1
The U.S. oil rigs in service fell back to the all time low after last week rising for the first week since March 13. Crude production remain unchanged at 11.100kbpd. Natural gas rigs rose 1 in the US.
Halliburton Delivers Surprise Profit Despite Pandemic Hit Oil and Gas Industry
Oil and gas servicing giant Halliburton reported better than expected second quarter earnings Monday before the market with a surprise profit in Q2. $HAL’s aggressive approach to cutting costs flowed through. $HAL is ahead of Schlumberger’s report
U.S. Oil Rigs Fall For 18 Straight Weeks To Just 180 Record Low
The U.S took off 1 oil rig out of service to a new low 180 as U.S.oil production stayed at 11100kbpd. US Natural Gas rigs fell 4 to 75. Canadian oil rigs fell 1, natural gas rigs fell 3.
U.S. Oil Rigs Fall For 15 Straight Weeks To Just 188 Record Low
The U.S took off 1 oil rigs out of service as U.S.oil production roses 500kbpd to fall to 11100kbpd. US Natural Gas rigs were unchanged. Canadian oil rigs fell 1, natural gas rigs fell 3.
U.S. Oil Rigs Fall For 13 Straight Weeks To Just 199 Record Low
The U.S took 7 oil rigs out of service as U.S.oil production continues to fall to 11100kbpd. US Natural Gas rigs rose 5. Canadian oil rigs were unchanged,natural gas rigs rose 1
U.S. Took Down Another 16 Oil Rigs To Just 206 Record Low
The U.S took 16 oil rigs out of service as U.S.oil production continues to fall to 11200kbpd. US Natural Gas rigs fell 1. Canadian oil rigs were unchanged,natural gas rigs rose 1