Unnamed Client in Mexico Owes SLB, Halliburton Over $1 Billion
- Drillers don’t name which customer owes $1 billion-plus
- State-producer Pemex has more than $100 billion in debt
A Halliburton Co. worker at a fracking site in Colorado.
Photographer: Jamie Schwaberow/Bloomberg
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SLB and Halliburton Co., two of the biggest oil field contractors, warned investors that the magnitude of unpaid work in Mexico has grown over the past three months.
SLB had $1.2 billion of so-called receivables related to Mexico at the end of last month, the company said Wednesday in a federal filing. That’s up 20% from the end of last year. Over the same period, Halliburton said in separate filing that unpaid bills from its unnamed “primary customer” in Mexico has expanded to represent a larger piece of its overall collections.