Halliburton Earnings Due As Oilfield Services Demand Booms; Biden OKs New Drilling - BitcoinEthereumNews.com
KabuhayanHalliburton Earnings Due As Oilfield Services Demand Booms; Biden OKs New Drilling04 / 16 / 2022Balita ng Ethereum ng Bitcoin Oilfield services giant Halliburton (Hal) will report first-quarter earnings on Monday as $100 crude oil and Russias Ukraine invasion is spurring a pickup in drilling activity. On Friday, the Biden administration said it will resume selling leases to drill for oil and gas on federal lands starting Monday. n n n Xn n n n Halliburton rivals Schlumberger (SLB) At Baker Hughes (BKR) report later in the week. HAL stock is at multiyear highs, while SLB stock and Baker Hughes are consolidating just below highs. Even as crude oil prices rose in 2021, shale producers were reluctant to ramp up drilling activity, vowing to focus on profits and shareholder returns. But with Russias Ukraine invasion pushing crude above $100, drilling activity is picking up. Oil rig counts, while well off the levels of late 2018 and early 2019, have risen for four straight weeks. With Russian crude likely out of favor for an extended period, shale operators may feel more confident that ramping up production wont lead to a glut that slashes prices and profits. All that points to steadily rising demand for oilfield services and