Source: Fortune.com
Summary
Halliburton’s CEO Jeff Miller says the US oil sector is in the “early innings” of a rebound, driven by the Iran war and the need for energy security. The company expects growth in North America, South America, and Africa, and is seeing signs of recovery in the US oil supply. Halliburton reported a net income of $461 million in the first quarter, up from $204 million year-over-year.
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Halliburton’s CEO Jeff Miller is optimistic about the US oil sector’s rebound, citing the Iran war and energy security as drivers. The company is seeing signs of recovery in North America, with smaller oil producers already hiring more fracking fleets and keeping drilling rigs contracted for longer. Halliburton is also expecting growth in South America and Africa. The company’s operations were hit hard in the Middle East, but Miller says they are “intact” and ready to support customers when they are able to go back to work.
The US oil sector’s rebound is entering its “early innings,” and Halliburton is positioning itself for growth.
Author: Evan Null
