BAKU, Azerbaijan, Apr.22
By Leman Zeynalova – Trend:
Completion and Production revenue of Halliburton in the first quarter of 2021 was $1.9 billion, an increase of $60 million, or 3 percent, when compared to the fourth quarter of 2020, Trend reports citing the company.
The company’s operating income was $252 million, a decrease of $30 million, or 11 percent. The increase in revenue was driven by higher stimulation and artificial lift activity in North America, higher cementing activity in the North Sea, improved stimulation activity in Argentina and Mexico, and higher completion tools sales in Latin America.
This increase was partially offset by lower cementing services in Russia, lower pressure pumping activity in the Middle East, reduced seasonal completion tools sales, and lower well intervention services in the Eastern Hemisphere. Operating income was negatively impacted primarily by decreased completion tools sales, as well as reduced pressure pumping activity in the Eastern Hemisphere.
Drilling and Evaluation revenue in the first quarter of 2021 was $1.6 billion, an increase of $154 million, or 11 percent, when compared to the fourth quarter of 2020, while operating income was $171 million, an increase of $54 million, or 46 percent. These increases were primarily due to higher software sales globally, improved drilling-related services and wireline activity in the Western Hemisphere and Norway, and increased project management activity internationally, which were partially offset by lower drilling-related services in Asia.
Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry.
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