HOUSTON (Bloomberg) --Halliburton Co. is looking away from its traditional North American heartland for sales growth as the fracking behemoth works its way through an historic oil bust.
Shares for one of the world’s biggest oilfield service providers surged more than 8% on Monday after it posted $456 million in second-quarter free cash flow -- more than double expectations. Halliburton also told investors it’s charting a “fundamentally different course” after slashing jobs and the dividend in recent months.
“As oil demand recovers, I expect the international business will continue to be a more meaningful contributor to our revenue going forward,” Chief Executive Officer Jeff Miller told analysts and investors during a conference call. “North America production is likely to remain structurally lower in the foreseeable future and has slower growth going forward.”
https://www.worldoil.com//news/2020/7/20/halliburton-looks-beyond-us-shale-charting-a-fundamentally-different-course?id=31307113
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