Halliburton Slides as Tariffs Hit Oil Prices and Drilling
Attendees pass in front of the Halliburton Co. booth during the Offshore Technology Conference in Houston, Texas.
Photographer: Aaron M. Sprecher/BloombergThis article is for subscribers only.
Halliburton Co., the world’s largest provider of hydraulic fracturing services, fell sharply after warning investors that tariffs will impact a wide swath of the company’s business units.
The dominant North American oil field services provider told investors Tuesday on a conference call that tariffs will have an impact of 2 to 3 cents per share during the second quarter, with 60% of the hit affecting its completions-and-production unit, which houses the fracking business. The rest of the tariffs impact will be to its drilling and evaluation segment.