Service & Supply | Quarterly / Earnings Reports | Oilfield Services | First Quarter (1Q) Update | Frac Markets - Pressure Pumping
Halliburton Increasing NA Pressure Pumping Capacity
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Quick takes from Halliburtion 1Q-2017 update,
“First quarter revenue in North America increased 24% sequentially, significantly outperforming our largest peer. This result was primarily driven by increased activity in our pressure pumping and well construction product service lines.
Completion and Production revenue in the first quarter of 2017 was $2.6 billion, an increase of $336 million, or 15%, from the fourth quarter of 2016, driven by material improvement in pressure pumping pricing and utilization in the United States land market.
North America activity increased rapidly during the first quarter, which was highlighted by our U.S. land revenue growth of nearly 30%, outperforming the sequential average U.S. land rig count growth of 27%.
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