HAL - Halliburton: Beneficiary Of Oil Rising Production
2024-02-14 05:28:03 ET
Summary
- Halliburton achieved record margins in 2023 and is expected to continue increasing average revenue per rig.
- The oil market is projected to be balanced in Q2-Q3 2024, leading to a downward revision in the forecast for the average Brent oil price in 2024.
- Despite a reduction in drilling rigs and oil production volumes in the US, Halliburton's financial results are expected to remain positive.
Investment thesis
We have covered Halliburton (HAL) before and in Q4 2023 the company reported according to our expectations, and the forecast logic has been maintained. In this report, we present the adjustments we have made to our forecast, in particular taking into account changes in the forecast for oil prices, oil production volumes in the United States, and rig count....
Halliburton: Beneficiary Of Oil Rising Production