EnergyWatch

Drilling surge in the US boosts Halliburton

The rising drilling activity in the US has been cited as bad news for OPEC's attempts to sustain a high oil price. But the surge in drilling was good news for Halliburton.

Photo: David Zalubowski/AP/POLFOTO

US-based oil service company Halliburton had a strong first quarter. For the first time since late 2014, Halliburton is able to present a quarterly result showing a growth in revenue.

This growth came to 1.9 percent, pushing Halliburton's revenue in the first quarter 2017 to USD 4.28 billion. This improvement, according to the company, was predominantly achieved in the US where a surge in the number of drillings – especially after the election of Donald Trump as President – has spurred demand for Halliburton's services.

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