Halliburton

Halliburton Co. shareholders have rejected for the first time an executive compensation plan that management had touted to line up with company returns and retain key employees.

Resilient activity in the U.S. land business between January and March helped power Halliburton Co. to a 34% increase in revenues, and it broke a record for stages per spread in March, the CEO said Monday.

Halliburton Co., the largest pressure pumper in North America, last year built its estimable capacity and surpassed 4 million hp by adding roughly 700,000 hp to its fracturing toolbag, Rystad Energy said.

A surging North American market, particularly for U.S. land services, helped to push Halliburton Co.’s profits higher in the final three months of the year, with the outlook for 2018 looking stronger, the CEO said Monday.

Houston-based Halliburton Co., the largest pressure pumping operator in North America, was “hitting on all cylinders” during the third quarter, and market conditions appear to be strengthening, CEO Jeff Miller said Monday.

Halliburton Co. CEO Jeff Miller said the company isn’t concerned about a onshore rig count plateau, viewing it as a sign that customers are trying to ferret out the best opportunities for production. Meanwhile, the largest oilfield services company in North America is navigating through $50/bbl oil, even as global oil production could decline by as much as 1 million b/d by 2021.

Weatherford International plc has appointed Karl Blanchard as COO.He spent more than 30 years at Halliburton Co. and most recently was COO of Seventy Seven Energy. Weatherford CEO Mark McCollum, who is working to turn around the company, formerly was CFO at Halliburton. Blanchard is to oversee all region and product line operations; quality, health, safety, security and environment; sales; engineering, research and development; and supply chain. “Mr. Blanchard has a long track record of bringing teams together to deliver operational excellence, strong financial performance and disciplined growth,” said McCollum. “I have witnessed the effectiveness of his leadership first-hand, and I am very much looking forward to working with him to create a more balanced and integrated organizational structure at Weatherford. By aligning several elements of our business under Mr. Blanchard’s direction, we will establish greater collaboration, innovation and process discipline across our organization.”

Taking a page from one of its top competitors, Halliburton Co. said Tuesday it plans to combine its oilfield services (OFS) wizardry with Microsoft’s data capabilities to drive a “digital transformation” across the oil and natural gas industry.

North America’s rig count growth has begun to plateau, as producers slow activity “all over the place in North America,” a sign that they are learning from their high-spending days of the past, Halliburton Co. Chairman Dave Lesar said Monday.