Halliburton Firm has secured a contract from Petrobras to offer a full vary of companies in Brazil for built-in properly interventions and the plugging and abandonment of offshore wells.
The multi-year contract is ready to start within the second quarter of 2025, Halliburton mentioned in a information launch. The monetary particulars weren’t disclosed.
Beneath the settlement, Halliburton will present a variety of companies together with fluids, completion tools, wireline, slickline, flowback companies, and coiled tubing. The corporate will combine and coordinate these companies via Halliburton’s venture administration service line to make sure environment friendly and efficient execution, it mentioned.
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“Our long-standing relationship with Petrobras exemplifies our capability to collaborate and engineer options to maximise their asset worth,” mentioned Halliburton Chairman, President, and CEO Jeff Miller. “Halliburton’s offshore properly intervention capabilities optimize manufacturing, prolong properly life, scale back prices, and entry difficult reserves”.
The contract, which covers almost two-thirds of all interventions and plug and abandonment work for Petrobras, “reinforces Halliburton’s strategic place within the Brazilian market,” in accordance with the discharge.
In the meantime, Halliburton’s board of administrators has declared a third-quarter dividend of seventeen cents ($0.17) per share on the corporate’s frequent inventory payable on September 25, to shareholders of file on the shut of enterprise on September 4.
In its most up-to-date earnings launch, Halliburton reported web earnings of $709 million, or $0.80 per diluted share, for the second quarter. This compares to web earnings for the primary quarter of 2024 of $606 million, or $0.68 per diluted share and first quarter of 2024 adjusted web earnings of $679 million, or $0.76 per diluted share.
Halliburton’s complete income for the second quarter was $5.8 billion, sequentially flat. Working earnings was $1.0 billion within the quarter, a rise of 5 p.c sequentially.
“Halliburton’s returns and money circulation are robust and I’m happy with our efficiency this quarter. The standard of our folks, the readability of our technique, our main applied sciences, the depth of our pipeline of alternatives, and the competitiveness of our enterprise segments all give me confidence in Halliburton’s future,” Miller mentioned in an earlier assertion.
“In our worldwide markets we see robust demand for Halliburton’s companies, excessive exercise ranges, and tools tightness throughout all main basins,” Miller continued.
Worldwide income within the second quarter of 2024 was $3.4 billion, a rise of three p.c sequentially.
In accordance with the discharge, the corporate’s Latin America income within the second quarter of 2024 was $1.1 billion, sequentially flat. Improved exercise throughout a number of product service strains in Argentina and the Caribbean, increased strain pumping companies in Mexico, and elevated drilling-related companies in Brazil have been offset by decrease drilling-related companies, decreased venture administration exercise, and decreased software program gross sales in Mexico and decrease completion software gross sales within the Caribbean.
Europe/Africa income within the second quarter of 2024 was $757 million, a rise of 4 p.c sequentially. This enhance was primarily pushed by increased properly development exercise and improved wireline exercise in Norway together with elevated completion software gross sales and better stimulation exercise in Angola.
Center East/Asia income within the second quarter of 2024 was $1.5 billion, a rise of 5 p.c sequentially. This enhance was primarily on account of increased properly development exercise within the United Arab Emirates, improved completion software gross sales in Saudi Arabia, elevated stimulation exercise and improved venture administration exercise in Kuwait, and elevated fluid companies in Asia.
“In North America, our technique to maximise worth in North America delivers shareholder worth, and I anticipate that we’ll proceed to ship robust returns via this cycle,” Miller concluded.
North America income within the second quarter was $2.5 billion, a 3 p.c lower sequentially. This decline was primarily pushed by decreased strain pumping companies on U.S. land and decrease exercise throughout a number of product service strains within the Gulf of Mexico, Halliburton mentioned.
To contact the creator, e-mail rocky.teodoro@rigzone.com.
