Halliburton has reported net income of $461m, equating to $0.55 per diluted share, for the first quarter of 2026 (Q1 2026), an increase of around 126% from the $204m, or $0.24 per diluted share, reported in the same quarter last year.
Adjusted net income attributable to the oil service company for the reported period ended 31 March 2026 was also $461m, a decrease of 10.8% compared to $517m in Q1 2025.
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Total company revenue for Q1 2026 was $5.4bn, remaining relatively flat, with a slight decline of roughly 0.3% compared to the $5.42bn reported in Q1 2025.
Adjusted operating income for the period was $679m, an increase of around 57.5% from $431m in Q1 2025.
In terms of segment performance, the completion and production division reported revenues of $3bn, a contraction of 3.8% from the $3.12bn reported in Q1 2025.
The drilling and evaluation segment posted revenues of $2.38bn, a 3.93% rise from the $2.29bn reported in Q1 2025.
Halliburton chairman, president and CEO Jeff Miller said: “I am pleased with Halliburton’s performance this quarter. In North America, I see clear signs that we are in the early innings of a recovery.
“In international markets, our performance around the world outpaced disruptions from the Middle East conflict.
“I expect that our consistent focus on returns and capital discipline will drive long-term success for Halliburton and its shareholders.”
In terms of operations, Halliburton introduced a series of innovative technologies and initiatives during the reported quarter.
Among these is the HyperSteer MX directional drill bit, a shankless matrix-body bit designed to enhance durability and optimise directional control.
The advanced matrix materials used in the HyperSteer MX bit are said to significantly extend its lifespan and improve operational efficiency and reliability.
Halliburton has also unveiled the XTR CS injection system, a wireline-retrievable safety valve solution specifically designed for CO₂ injection in carbon capture, utilisation and storage wells. This system offers flexibility as a primary or backup safety valve and as a deep-set reservoir fluid-flowback prevention device.
Additionally, the company has launched the RangeStar Geothermal Well Spacing and Intercept Service, part of the RangeStar magnetic ranging services family. This next-generation solution supports geothermal development by enabling faster, more accurate and fully integrated well placement.
The service is said to enhance accuracy within formations and depths, with rapid ranging determination reducing decision time from hours to minutes. It is said to support detection distances up to 130m.
In a collaborative effort with ExxonMobil Guyana, Sekal and Noble, Halliburton achieved a milestone in digital well construction by delivering the deep-water industry’s first fully automated geological well placement with complete rig automation offshore Guyana.
Earlier this month, Halliburton Petronas Suriname Exploration & Production and Valaris signed a strategic collaboration agreement to develop Suriname’s offshore assets.
