Halliburton Co Reports Q3 $0.83(adj) v $0.83e, R$7.47B v $7.51Be - North America Rev $2.92B v $2.97B y/y - Latin America Rev $412M v $373M y/y - Europe/Africa/CIS Rev $636M v $523M y/y - Middle East/Asia Rev $528M v $419M y/y
- Comments: During the quarter, we saw improvement in activity levels across the United States land market as drilling and completion efficiencies continue to drive an improved well count. The United States land rig count, however, remains sluggish. Additionally, oversupply of service capacity in North America continues to put pressure on pricing in a number of areas. - However, we expect to see margin improvement during 2014 as Gulf of Mexico activity expands, we deploy our Battle Red and Frac of the Future initiatives, and we continue to see revenue gains as unconventional service intensity improves. - Globally, we will continue to expand our portfolio in deepwater, mature fields, and unconventionals. We believe the underlying fundamentals for our industry are strong, and I am optimistic about Halliburtons relative performance as we move into 2014, concluded Lesar