Halliburton Shares Sell Off as Market Views on Pressure Pumping Move Closer to Our Expectations
Halliburton announced its second-quarter results Monday, with the company posting a sequential doubling of operating income. A strong driver of these results is the ongoing recovery in U.S. shale activity and service pricing, with the company’s pressure pumping business particularly benefiting from both higher utilization and higher pricing. Indeed, Halliburton’s completion & production segment, which derives about half its revenue from pressure pumping, saw its operating margins rise to 13%...Halliburton assists its customers throughout the lifecycle of the reservoir, from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion and optimizing production throughout the life of the asset. The company's segments are: Completion and Production, which delivers cementing, stimulation, intervention, pressure control, specialty chemicals, artificial lift and completion products and services; and Drilling and Evaluation, which provides field and reservoir modeling, drilling, evaluation and wellbore placement solutions that enable customers to model, measure, drill and optimize their well construction activities.
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