USA: Halliburton Profit Climbs

Halliburton Profit Climbs

Halliburton announced today that income from continuing operations for the second quarter of 2012 was $745 million.

This compares to income from continuing operations for the first quarter of 2012 of $635 million. First quarter reported results included $300 million ($191 million, after-tax) for an estimated loss contingency related to the Macondo well incident.

Halliburton’s consolidated revenue in the second quarter of 2012 was $7.2 billion, compared to $6.9 billion in the first quarter of 2012. Consolidated operating income was $1.2 billion in the second quarter of 2012, compared to $1.0 billion in the first quarter of 2012. All international regions experienced double-digit percentage revenue and operating income growth from the first quarter of 2012. North America margins were negatively impacted, however, by rising costs and pricing pressure in production enhancement services.

I am pleased with our second quarter results, which set a new revenue record for the total company and all three of our international regions,” commented Dave Lesar, chairman, president and chief executive officer of Halliburton.

LNG World News Staff, July 23, 2012

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