Halliburton Looks Past Recession Fears to Overseas Growth
- World’s biggest fracker is forecasting ‘multi-year upcycle’
- Company is the first among biggest oil contractors to report
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Halliburton Co. is gearing up for years of oilfield expansion despite warning signs of a looming global recession.
The world’s biggest provider of fracking services is banking on a “multi-year upcycle” outside of its North American base, according to a statement Tuesday. Many of the world’s most significant oil provinces are in regions controlled by state-owned oil explorers that are immune to shareholder pressure and profit thresholds that steer publicly traded companies.