Shortage of Frack Gear Is Helping to Hold Back US Oil Production [Financial Post (Toronto, Ontario, Canada)]
Halliburton Company (HAL)
Last halliburton company earnings: 4/20 06:45 am
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Source: Financial Post
(Bloomberg) — In a dusty corner of Oklahoma, close to where Erle Halliburton founded his eponymous oil services empire 103 years ago, a group of workers shows why US oil production growth has been underwhelming in spite of a price boom. This particular Halliburton Co. crew is busy cannibalizing older frack pumps — the powerful, truck-mounted engines that help to squeeze hydrocarbons out of shale rock — to meet the high demand for gear in US oilfields. It’s hectic work, and currently extremely profitable. Halliburton and its competitors are choosing this path — the reconditioning of existing equipment — over significant new investment in manufacturing for a reason. The oil services sector, much like the exploration and production companies it serves, is scarred by the severity of the previous industry downturn that’s only just receding in the rear-view mirror, and it’s keen to avoid a repeat of the experience, which included painful layoffs and downsizing. Such caution means that, e
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- Halliburton (NYSE: HAL) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating.MarketBeat
HAL
Earnings
- 1/23/24 - In-Line
HAL
Sec Filings
- 4/2/24 - Form DEFA14A
- 4/2/24 - Form DEF
- 4/1/24 - Form 4
- HAL's page on the SEC website