Halliburton: North American Drilling Market to Improve in 2010

By Admin
North Americas drilling market could see an upswing in 2010, according to Halliburton. The oilfield services giant posted a 12 percent rise in revenue...

North America’s drilling market could see an upswing in 2010, according to Halliburton. The oilfield services giant posted a 12 percent rise in revenue from increased drilling rig and oil and gas activity in shale gas fields. Dave Lesar, Chairman and Chief Executive says this year will see significant improvement over 2009’s levels as long as natural gas drilling activity maintains a steady growth pattern.

During a meeting on fourth quarter results, Lesar highlighted natural gas storage levels for the US, which stood at 2.607 Tcf the week of Jan 15 - one percent higher than last year and slightly less than the five-year average, according to Dow Jones. Lesar said it would be necessary to stay on track with historical levels in exiting the winter heating season.

Oilfield services demand shows less promise on the international front, according to Lesar.

“We’re seeing our customers trying to remain flexible in their spending patterns, and they continue to focus on restraining oilfield services.”

Learn more at: Wall Street Journal

(Edited by Gabe Perna)

Share
Share

Featured Articles

Honeywell debunks hydrogen energy and its global challenges

Maya Gomez, Director of Green H2 CCM at Honeywell, uncovers the different types of hydrogen and the challenges of applying them for more sustainable energy

ABB Motion & WindESCo partner to strengthen wind energy

ABB Motion invests in WindESCo to sustain wind turbine performance, in a renewable energy drive that will help ABB in its net zero ambitions

Shell Energy UK and Germany acquired by Octopus Energy

Octopus delivers industry leading service whilst investing in clean energy systems — we will deliver this to the new customers too, says CEO Greg Jackson

Sustainability LIVE links to energy and electrification

Sustainability

Green energy: A hot topic at Sustainability LIVE 2023

Sustainability

Sustainability LIVE London sells out on 2023 conference

Sustainability