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-
HOME
-
ABOUT
- About Us
- Organization
- Footprint
- Corporate Governance
-
PRODUCTS
- ꀒ BHA Drilling Tools
- Drilling Motors
- Drilling Stabilizer
- PDC Drill Bits
- Tricone Rock Drill Bits
- Diamond Core Drill Bits
- Hole Opener
- Roller Reamer
- ꀒ Tubulars
- Non-magnetic Drill Collar
- Heavy Weight Drill Pipe (HWDP)
- Drill Collar
- Drill Pipe
- HDD Drill Pipe
- Kelly
- Sucker Rod
- Casing Scraper
- Casing-OCTG
- Tubing-OCTG
- ꀒ Jars
- Hydraulic Drilling Jar
- Mechanical Drilling Jar
- Hydraulic Mechanical Drilling Jar
- Super Fishing Jar
- Double Acting Drilling Jar
- Hydraulic Jar Intensifier
- Mechanical-Hydraulic Shock Absorber
- ꀒ Bearings
- Spherical Ball Bearing
- Thrust Ball Bearing
- Angular Contact Ball Bearing
- Deep Groove Ball Bearing
- Thrust Roller Bearing
- Spherical Roller Bearing
- Needle Roller Bearing
- Tapered Roller Bearing
- Cylindrical Roller Bearing
- ꀒ Subs & Tool Joints
- Torque Reduction Sub
- UBHO Sub
- Top Drive Saver Sub
- Crossover Sub
- Wear Sub
- Lifting Sub
- Casing & Tubing Pup Joint
- Casing & Tubing Couplings
- ꀒ Drilling Valves
- Kelly Cock Valve
- Full Opening Safety Valve (FOSV)
- Float Valve
- ꀒ Drilling Equipment
- Mud Pump
- Mud Pump Spare Parts
- Hydraulic Bucking Unit
-
QHSE
-
INFORMATION
-
CONTACT
Halliburton 4Q Result Beats Estimates, But Profit Drops 43.9%
The second-biggest services provider has slashed quarterly dividend and reduced its capital spending and workforce to cope with the decline in demand as its clients - oil and gas producers - cut drilling activity amid a fall in crude prices below breakeven levels.
Halliburton generated free cash flow of $1.15 billion in 2020, above the $1 billion it had targeted, thanks to the cost cuts.
Crude prices also ticked up in the last three months of 2020 to average about $45 per barrel, prompting some producers to complete wells.
Revenue from Halliburton's completion and production business was $1.81 billion in the fourth quarter, 15% higher than in the third quarter, while its drilling and evaluation revenue rose 1.9%.
Halliburton Chief Executive Officer Jeff Miller said he expects international activity to bottom in the first quarter of 2021, adding that he was "optimistic about the activity momentum in North America".
Halliburton, which kicked off fourth-quarter earnings for service providers, said revenue from North America rose 25.8%, while international revenue grew 0.4%. Total revenue of $3.24 billion in the quarter ended Dec. 31 beat analysts' estimates of $3.21 billion, according to Refinitiv IBES data.
Adjusted net income was 18 cents per share, 3 cents above estimates.
However, the company's profit was down 43.9% and revenue fell 37.6% from the fourth quarter of 2019 as activity levels were still well below a year earlier.
Halliburton shares, which lost about 23% of their value in 2020, were up 2.7% at $21.30 in premarket trading.
Rivals Schlumberger and Baker Hughes are also set to post results later in the week.