Halliburton’s Reliance on U.S. Work Is Fading During Frack Slump
- Fracking giant is looking internationally for better growth
- Company has slashed jobs, cut dividend in recent months
A Halliburton Co. worker walks through a hydraulic fracturing site north of Dacono, Colorado,.
Photographer: Jamie Schwaberow/Bloomberg
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Halliburton Co. is looking away from its traditional North American heartland for sales growth as the fracking behemoth works its way through an historic oil bust.
Shares for one of the world’s biggest oilfield service providers surged more than 8% on Monday after it posted $456 million in second-quarter free cash flow -- more than double expectations. Halliburton also told investors it’s charting a “fundamentally different course” after slashing jobs and the dividend in recent months.