One of the world's biggest frackers optimistic on U.S. rig count
Date
7/21/2016 8:08:06 AM
(MENAFN- ProactiveInvestors - Australia)
U.S. oil field services giant Halliburton (NYSE:HAL), one of the world";s biggest frackers, had some guarded optimism today as it flagged expectations for a ‘modest uptick"; in the American rig count.
Halliburton chief executive Dave Lesar, in a quarterly financial update, highlighted that the US rig count had dropped 78% from the 2014 peak and reached a 'landing point” during the second quarter.
He added: 'Since reaching the bottom, the rig count has improved by 26 over the last several weeks, reflecting operator confidence in stabilizing commodity prices”.
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