Global Supply Chain Contagion Hits Oil Service Firm Baker Hughes Earnings

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.

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