Halliburton Receives International Gains to Close Out 2018
Houston-based Halliburton Company ended 2018 on a high note as the oilfield services giant recorded total revenue of $24 billion for the year, a 16 percent increase from 2017.
Halliburton’s fourth quarter 2018 total revenue was $5.9 billion, a period when crude oil prices took a tumble.
While North America revenue in 4Q was $3.3 billion – an 11 percent decrease sequentially – international revenue saw a 7 percent increase sequentially at $2.6 billion. The international gains were driven by increased year-end product and software sales in the Middle East/Asia and Latin America.
“I am pleased with our overall financial results for the year and for the fourth quarter,” Halliburton CEO Jeff Miller said in a company release. “Our team optimized our performance in North America as the market softened, and the recovery of our international business continued.”
“As expected, in North America, the demand for completion services decreased during the fourth quarter, leading to lower pricing for hydraulic fracturing services,” Miller added.
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