Global oilfield services major Halliburton has announced registering a profit of $128mn in the third quarter of this year, up from a $3.88bn loss in the second quarter.
Revenue held steady from Q2 2016 at $3.83bn, but was down from $5.58bn in the same period last year. The net income attributable to the Houston-based company climbed to $6mn, compared to a $54mn loss in the year-ago quarter.
Europe/Africa/CIS revenue fell 6% sequentially to $744mn in the third quarter due to reduced activity in Nigeria and Continental Europe. As for the region’s operating income, it increased 19% sequentially to $76mn in the third quarter.
Middle East/Asia revenue fell 3% from the prior quarter to $1bn in Q3 2016, while the operating income declined 4% sequentially to $154mn.
International revenue dropped 6% sequentially in the third quarter to $2.2bn due to a ‘decline in drilling activity and well completions, as well as continued pricing pressure,’ the company said. Similarly, international third quarter operating income fell 2% from the second quarter to $241mn.
For completion and production, the revenue fell to $2.17bn from $3.2bn in Q3 2015 and the operating income declined to $24mn in the third quarter, down from $163mn in the same period last year.
Drilling and evaluation revenue came in at $1.65bn for Q3 2016 compared to $2.38bn for the year-ago quarter, while operating income dropped to $151mn in the third quarter compared to $401mn in the same quarter last year.
Corporate and other operating income came in at a loss of $47mn compared to a $58mn loss in the prior year quarter.
