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Halliburton cutting capex but expects multi-year growth
Halliburton intends to spend 20% less on capex in 2019 than in 2018, looking for ways to improve returns without higher pricing. Despite the 40% drop in crude prices during 4Q18, “supply and demand fundamentals for multi-year industry growth are still intact,” CEO Jeff Miller said. Halliburton revenue in 4Q18 of $5.94 billion was a 3.8% sequential drop but flat YOY.CFO Lance Loeffler called $1.6 billion an “appropriate level of capex given the strategic......
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