Schlumberger Ltd. and Halliburton Co. offered a sober reminder during their third quarter conference calls that producers working in the Lower 48 have reduced their activity and their spending, with neither likely to recovery by year’s end.
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Articles from Halliburton
Halliburton Idling North American Equipment as Onshore Activity Erodes
North America’s biggest pressure pumping provider Halliburton Co. warned of waning activity for the remainder of the year as customers shun completions and new drilling.
Natural Gas Finding Niche in E-Fracking, But Diesel Still Rules
As operators look for ways to squeeze more efficiencies from Lower 48 basins, business opportunities are expanding to make use of flared natural gas using electric pressure pumps.
Halliburton Stacking Equipment with Eye on Lower 48 E&P Capex
Halliburton Co., the largest pressure pumping operator in the Lower 48, stacked hydraulic fracturing equipment throughout the second quarter and will continue to do so where management does not see acceptable returns, CEO Jeff Miller said Monday.
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Halliburton Sees North American Fracture Spend Off 6-10% but Worst of ‘Pricing Deterioration’ Over
Halliburton Co. CEO Jeff Miller said things are looking up for the year, with international activity expanding and U.S. land hydraulic fracturing (fracking) work accelerating on higher commodity prices and “refreshed” customer budgets.
Halliburton Cuts 1Q Outlook on Equipment Oversupply in North America
The No. 1 completions expert in North America, Halliburton Co., said pricing pressure is likely to continue through the first quarter because of an overabundance of onshore fracturing equipment following the sharp decline in oil prices late last year.
Haynesville’s Soaring Natural Gas Output Said Sustainable as LNG Exports Grow
Natural gas production in a former darling of the onshore unconventionals, the Haynesville Shale, is getting serious looks from new suitors, including operators looking for export stores, with production on course to hit record heights, according to Rystad Energy.
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People — Jeff Miller
Halliburton Co. CEO and President Jeff Miller has assumed the role of board chairman with the retirement of Dave Lesar. Miller joined Halliburton in 1997 and served as COO from 2012 to 2014. He became president and joined the board in 2014. Lesar, who joined the Houston-based oilfield services giant in 1993, retired as CEO in 2017 but remained executive chairman. Lesar had served as chairman and CEO since 2000 when predecessor Dick Cheney was nominated as U.S. vice president.
Halliburton Cuts 4Q Guidance on ‘Budget Exhaustion,’ Capacity Constraints
Halliburton Co.’s operating income slumped 9% sequentially in the third quarter on a “softening” market for North American completions, but beyond the holidays, as customers reload budgets, the market should improve, CEO Jeff Miller said Monday.
Halliburton CEO Cites Lack of ‘Customer Urgency’ in North America; 3Q Outlook Cut
U.S. onshore well completions expert Keane Group Inc. joined Halliburton Co. this week in reducing third quarter forecasts on less demand than anticipated, with customer drilling efficiencies beginning to level off.