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Halliburton Lifts Payout for the First Time in More Than 7 Years

  • Halliburton sees North American drilling budgets rising 25%
  • Multi-year expansion cycle underway worldwide: Halliburton CEO
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Shale-oil companies are using almost all of the fracking equipment and crews available as exploration expands, accelerating cost inflation and pointing to worsening supply-chain disruptions across the industry.

North American oil drillers appear likely to expand spending by more than 25% this year while overseas explorers are on course for a more modest increase in the mid teens, Halliburton Co. executives said on Monday after reporting their biggest quarterly profit in seven years.