Halliburton’s profit jumps, outlook improves as drilling activity increases – Reuters

Halliburton’s profit jumps, outlook improves as drilling activity increases – Reuters

April 19 (Reuters) - Oilfield services firm Halliburton Co (HAL.N) on Tuesday posted an 85% rise in first-quarter adjusted profit and raised its forecast for customer spending in North America as a rally in oil and gas prices boosted demand.

Halliburton said it anticipates North American spending to grow by 35% this year due to stronger activity and inflation, revising higher an earlier estimate of a 25% increase.

Oil futures climbed to their highest in more than a decade during the quarter on market turmoil stemming from Russia's invasion of Ukraine. U.S. oil is around $105.34 a barrel while Brent is trading at $110.25 a barrel.