very Thank with we a our you, had fantastic quarter Lance, and pleased and I’m morning good Overall, everyone. results.
is another and all example like this is performance we the on said company. just would hitting are cylinders execution We of why Halliburton quarter’s we
market a $X.X compared global operating peers cash we quarter. revenue global was the on our XX% quarter taking we showing our a flow. generated few Total second of are billion, highlights from again, share. are Once outgrew billion and results, third we basis increase $X.X Here to company that representing
significantly million, over improved continued XX%, of our rig X%. drilling driven in U.S. evaluation lines. revenue outpacing to land the of average increased and operating count market North Our $XXX by by growth primarily product America profitability XX% North American Total increased in sequential conditions and strengthening income
production of despite with execution XX Hurricane increased XXX XX% Harvey. operating and margin negative completion drilling division X% our division to expansion, impact demonstrating points basis-point margins solid the revenue by basis while XXX Our X%, approximately international The expanded approximately and evaluation franchise. basis points increased revenue in of
out important business America. makes provider we number the of community in step the quarter, building severely production the the Gulf strategic is during In impacted Harvey by employees and was together the completed closely our entire by affected lines our to Texas acquisition oriented Coast organization North fantastic an our and two August, support Finally, ESP, and in Hurricane storm. ESP Summit which the us in those worked
of As of temporarily result a the in and weather, Mexico few a the Ford. we the Gulf suspend customers Eagle both activity had
of and temporarily to of costs continue which deliver these spite execute to chain organization allowed and challenges quarter. service supply In negatively sophistication deficiency due to supply increased also our We both chain quickly us diesel our work experienced sand hard to the was superior and disruptions, the unavailable because for and affected adapt margins fuel disruptions, reduced of these quality.
expand, America We of would a completion would call. use to exactly beginning would revenue did. outperform our America maximize saw plateau, production; said the second finally, our about We we continue few talk in about remain they peers to quarter and margins told you to market North we said rig told average share. count U.S. this did. well sequential as and We to moment it would growth, sand said a trend technology and did. take and North And take our we and count highest outgrow operators land significantly what it that we the sequentially. were flat you production growth the rig the things we true we turn that’s and said me average the held We as have returns in to as and sand optimize continue and to per industry, increase opposed do Let
some spend topics. me each let Now, on these time of more
input view the balance of rig market U.S. count conditions land of for reacted year. and the flattened shareholder the quarter, own customers effectively as During to the their
the and rigs However, to while drilling related product footage increased improved wells. significantly the completions with completions drilling natural approximately our the revenue and we between the XXXX Today, same has is intensity activity as completing in increased. lines our half lag in due saw industry
this America. count North the and our margins differentiating progress on normalized Halliburton us focused As rig from all more are These stabilizes, our efficiencies, customers in quarter And barrels. optimization towards made does making things well, really pleased the I’m with we’ve are peers.
working. the with Our I said past, still begins that today. urgency, I to urgency margins path strategy normalized is the see in And and as customer
can to goal. levers we our meaningful will pricing; to we utilize but Halliburton’s three, are utilization; three know just reach equipment is And reducing We company. pricing about in and a leverage Ultimately, the to Halliburton a thing way. return levers goals. improving three levers structurally execution you the ability scale is them it’s margin all achieve costs. and important, the important, on normalized have our combination pull two, have increasing All our one scope component to great they’re, Increasing is and all one, three And of margins. to that we
margins. forward. go these oil North for our completions pull remains across push for our and The outlook to as completions our day. get market strong. every tight quality pricing portfolio provides equipment normalized remains necessary The us Demand continue to we service pricing to to as improving levers America price portfolio and runway to going increase our We’re we
ability push the to of a have still price. Equipment we forms. in comes clear; be me let utilization So, couple
to working; customers. has right it be First, be second, it the for working has to and
Our fleet for year out of XXXX. is the and the remainder sold into
to customers to place We and to equipment use increase continue our effectively efficiently how improves their our with us which know utilization. productivity, who those
for continue of unnecessary we reducing also costs, we utilization use remove increase company. our through It’s to the costs that save critical costs As technology. from and
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location people As number to a on the efficiency. result, we’re equipment improve our reduce able of and
a minute talk market. debated take few a I hear topics the about now Let’s in that frequently and
The first is sand.
on the it and my customers Data Basin. Permian but equivalent continued utilization. During are customers production streamlined indicate was the the are third reservoirs focused and happened know the sand Conversely, hear discussions individual Northeast, characteristics and optimizing about oil focus per have conflicting facts and the lot This a They in two individual up barrel their of Halliburton for continuing the the are Rockies exploring our benefits for the that they are the on anecdotes At of on that to at production. sand reservoirs those remained points of are, higher because end cost because Bakken, per But loads. pump or last Halliburton, volume customers today, with day, the in per and quarters boundaries whole acreage used with operators both Halliburton of from production still sand are customers from operations total increase, quarter, the well well to down average sequentially sand their sand sand scenarios. cost-effective flat. drilling basis. was based jobs
equipment. The pressure for second pumping topic is supply and demand
are undersupplied market me At Now, maintenance is costs I today. clear. be used the time, same first, believe let being higher. equipment is harder and the
As demand a be come worn supply people result, quickly, than greater into out a will active just call the more day meaning the that’s balance being is and think. to for new there equipment, replace when equipment further out
fleet, new believe I will and their that capital work take making further beyond to to to build they budgets as struggle Now, or with not fund constraint commitments, money companies equipment find purchases. struggle pay current are
fleet But, they tell many announcement retirements. I no happening. fleet deployments, of of new see You can but you, are announcements
not Next, completions down. is intensity slowing
and increase us result, advantage even more maintenance the a design as less designs equipment The are costs an increasing. market the associated that sand We are in proxy for we happening of see and maintenance our simplest creeping horsepower the deferred and place size. today’s with A the gives pumping the equipment, is deferred completion crew maintenance industry. over with I to an throughout costs. seen have believe industry it maintenance is in
and the crew changes is location. to designing cost. to Deferred our rest continues equipment equipment for us to reduce XX,XXX operate total with crew. respond is redundancy bringing Halliburton industry of an to horsepower advantage the while equipment this cost years, several have less to require Now, last fleet equipment the the side gives horsepower by closer and The less customer Building has that to demand the quickly XX,XXX ownership. well is the equipment line the respond per to of to maintenance creating on to size our bottom to averaging market internally now Halliburton average and ability design maintenance our per
what point, I’d remains terms, case. be changed. build and equipment has I detail to follow-up As to this in said But, crazy I a that last the talk new quarter, about said not
margins; by pricing, only is foremost certain We will those which captures customer finally, two, acceptable three, conditions build our return organization. conditions. accretive returns equipment new are a And focused and leading-edge out generates on under backed and one, we first investment. to And bring are, it commitment;
America, the conservative for proving several outlook accurate. the to our last Outside Turning markets. international is more North quarters
of less current America, given environment. the and isn’t cycle year. Due that more they have the significant costs. international and for face. floor Our me, less drives contrast believe customers a activity, believe we all price more where price ever customers tell to the In international oil investment breakeven world requirements in result and are customers the around but pricing is more markets a headwinds this that longer focused found to cash to $XX we price pressure. the thresholds of view to count many commodity This on combination that The lowering production react this rig earlier the project will be oil face a will that North economics, lower several absolute of duration surprising, of I positive years. where price than different activity longer flow our
of environment, and price continuing and international contractual execute the by we longer I activity offset markets However, controlling near-term. nature In the have to will over pressure, the of level expect maintain gains margin term discounts to costs. due this
making Our impressive costs. is the to their control sustainable during markets the over international committed of rightsize to and business organization has continued the quarter, toughest demonstrating
but modest quarter market. we the customers and in to We Pricing pressure third the and for remained the achieved our cost of value cutting asset the in maximize use it eastern cost collaborate addition, to the landscape major activity themes, off. way more is In important. hemisphere, go we the solutions embrace a In remains per customers paying to in engineered BOE improvement challenged. and technology ever lower is
Our the international market deployed system. in to value. active with products East the sidewall the our to drives value region, cores focused technologies many system service continue technology project our our deliver times highlight that customers In part mature ability on effective remains The fields. more proposition, means doing reduce Middle the reservoir allow like customers quality. and leading on barrels important This because with we maximizing stores oil most our superior effectively asset our CoreVault closely work lines with This position up and cost. previously. Middle more to largest and of deliver than work Among our so East, to characterization X.X to in service of gas make our additional and continue build management to I’d for
win technologies time a reduce to management Our project. seen and services contract project on and and in project our activity is deliver in region, most wells showcase a allowing cost XXX recent increased this Oman, over to we’ve us that
about deliver We Sea, growth as significant has standardization share track customers. costs In have North wells execution this record been production and reducing technology seen have market proven year the a through optimization. better we and for our
barrels. monitoring. producing or is reduce by we provides our solve of sections to all variable customers’ customized that monitoring used We that from for slurry single its to have density, can system due be the data sphere problems to portfolio design technology cement We how modular the customers array structurally our to results. well and collaborate more out time important with help we create most and together a drill decreasing cost reservoir by point complete What’s to terrific well
customer contract. services commercially team, where year the over Another on from of time to efficiency is to our the and where contractor, they’ve two by insight example of over project performance effort a thought to items in America improved Sea rig areas, quality, North the able aligned integrated been operator laid work collaborative efficiency Latin Argentina, team saw came has execution. Brazil. through our activity in on The responding saving collaboration record-breaking coordinated for to scope and ruthless a planning This a on quarter, focus and is the in reduce count the multi-well collaboration solutions the and collaborative and with execution critical truly service and increased path growth million. performance driving a technique driven collective and full finish by XXX $XXX record third Mexico days, slight growing rig
across efficient execute. the the to as pricing we improving, is make be activity pressures While important region increasingly it
a tackle help necessary shows that time. in if This a difficult quarter especially especially reduction tough Mexico, in runs example This pricing ran were particularly the in even a reduced appetite reservoir. there to bit environment, we is resulting designed for an in there three-day in technology, rig new hole, This design costs. reduced and drill
the recent supply in as rebound, demand have experienced picture. prices tightening signs in days, macro Finally, commodity seen we the modest some of have
on strategy. our depreciation of discipline. in gas However, capital that sustaining I this still medium aligned our largely capital has the oil in environment focused the expect a to right approximately that with the range-bound should type be this commodity confident industry price remain am market, near expense. and environment, returns Halliburton believe will I term. spending In we’re and I that In
we of we’re over maximizing to day I asset today’s flow levels a to and that and flow and the investors that. continue cash and service I will conversion as in our we’re traditional most I should on cash customers sales should When with peers, our appreciate these that generate that is the things the line am and believe right environment. we to utilization, market be improve time metrics, free company, capital working all confident Halliburton together, in improving focused returns. declines solid Pure capital our simple, discipline. working free highest outstanding and Our be exceed and value to take on capital or proud confident am generate deliver those our working velocity, create
strong that of Our industry-leading use provide only it to is the our also function geographic the our depths a position for products and of services and generate competitive returns not footprint, we it’s customers shareholders. to
call to update. Now, for Chris financial over I’ll the turn a
