Oilfield services (OFS) companies continue to report steady growth in revenue and upstream activity throughout Latin America, with onshore and offshore operations each playing a role.


Halliburton Co. reported a 40% year/year increase in Latin America revenue to $915 million during the first quarter. The growth was “due primarily to increased well construction services and stimulation activity in Mexico and Argentina, higher completion tool sales across the region, and improved project management activity in Mexico,” the company said. “This increase was partially offset by lower software sales in Mexico.”

CEO Jeff Miller told analysts during the first-quarter earnings call that he expects international revenue growth in the “high teens” for 2023, “with most new...