Overview

• Halliburton's Q3 profit surpassed market expectations due to increased global drilling and equipment demand, offsetting North American weaknesses.
• The increased global demand has been driven by oil and gas companies seeking new offshore and international sources after the market disruption caused by Russia's invasion of Ukraine.
• Halliburton's international revenue rose 3% to $3.2 billion from a quarter ago, led by strong performance in Latin America.
• Conversely, the company saw a 3% fall in North American revenue to $2.6 billion, driven by lower demand for onshore pressure pumping services and weaker maintenance and repair work in the Gulf of Mexico.
• Despite beating earnings estimates, Halliburton shares fell 1% in premarket trading.