Halliburton Announce Third Quarter Profits

US-based oil services company Halliburton has announced a 19% rise in third quarter net income, aided by an increase in customer activity and new international contracts.

Net income was up from US$611m to US$727m compared to the same period last year with operating income rising from $870m to $910m.

North America has seen "record" third quarter 2007 revenue growing by 6%, despite "the loss of two weeks of work in the Gulf of Mexico due to storms and pricing declines for some services in the United States land market", says Dave Lesar, chairman, president, and chief executive officer.

Halliburton's consolidated revenue in the third quarter of 2007 was $3.9bn, up 16% from the third quarter of 2006.

By staff writer