Thank everyone. you, Abu. And good morning,
that Our well demonstrates in priorities performance the is value. second our working are strategy clear quarter and driving Halliburton strategic
highlights. with both revenue top divisions. X% increased company sequentially solid the in North grew Total to line continued international right America improve. both margin to and Let's Operating get as income performance XX%
highs. of quarter, completions. Production US driven C&P operating Completion XX% by margin division three-year and the land XX%, second increased the reaching in in Our delivered revenue strength
with sequentially was count North and various activity America the X%. division of XX% of Evaluation Drilling despite leverage expansion. with regions, producing key seasonal revenue increasing across revenue decline operating sequentially, regions Drilling throughout disruptions supported grew utilization in and the multiple sales. revenue marched about Evaluation International Operating XX% grew countries. activity in grew quarter. margin both software a sequential offsetting X% Our the as higher Increased rig in world our margin significant COVID-XX increases and flat
Finally, million. to with flow performance the cash pleased bringing the cash $XXX we free this almost generated this first the year-to-date I'm flow delivered transition solid free of we strong year. half in quarter,
transition While over only to unfold recent more fact market what volatility I the discussing we year, of couple want a in that next remain time today believe demonstrates years. I spend will the
expect second completions continue. still activity the double-digit for rest XXXX, of reaffirm we momentum me even half In COVID let we outlook as supportive, countries for operators outpacing activity well Internationally, disruptions. the to inches second to believe continue the the inventory increase First, commodity this we higher prices compared in of as America with of certain half drilling activity up year. With a build anticipate remaining XXXX. to North in XXXX face
multi-year year, Looking we're the beyond the that me this let early longer-term believe outlook. a innings of We describe upcycle. in
this view seven the anticipate objectives our American international outcomes. and guides in North years, For growth we and in markets, business first expected and simultaneous time
macro industry over we years. how environment the of here's out So, couple next see the playing
manages we particularly to demand prices the term. vaccines supply, both extent near exceed global supply structurally increased believe With to over remain anticipate many continue economies we resurgence in additions will and will First, supportive. demand availability, the commodity OPEC+ the
and both sufficient over capacity oil levels global OPEC+'s to call returns up US will support on believe year, international a normalized the production. As we spare demand next pent
spend higher companies national activity service the around This as with growth I give barrels. wellbore on us believe healthy confidence infrastructure under oil recovery. long Second, investments. in demand relative multiple years come with be of should capital a cycle international cycle led oil the shorter to international and opposed will gas the higher markets, anticipated investment and focused coupled the the in intensity by growth, and
mature expect fields, to Africa offshore, exploration to few and the markets Latin a onshore greenfield and America. be We in while attract both will limited most large scale investment,
least digit As double a of annual result, international we spending anticipate next growth the over at couple years.
spare believe that American for we environment, shale normalized levels a commodity price Third, supportive decline US are capacity constructive rates and high of North OPEC+ in spending.
return over drilling North pandemic levels. and in double next annually activity completion grow will spending digits years, the We America not also will to although two expect pre
both than will tightness international In Today, behind nearing fall that availability drilling we equipment anticipated and operators faster lead private the balance lines, North activity markets supply expect growth tighten are over people believe while expect anticipated to and E&Ps see will product opportunistically drilling think. multiple demand. fall public Today, demand. I comeback, equipment equipment We most completions much in will the to America, both behind next Fourth, and quarters. I believe few returns. tighten we
service sufficient CapEx of American scarcity do multiple availability. equipment years sufficient new cash limit the investment reductions Internationally, organically maintenance, companies should and service returns. generate alone North sources, many let currently of capital generate external innovation to Given in fund not equipment, company
I now increasing lifting and all higher lag internationally durations described a beginning and case contract are is know the in for to demand the lead capacity I return expect Pricing outlook North macro tightening as rising We to just equipment where expected positive boats. prices. will is longer. American to tide
of and time improving positioned environment outperform time long back this However, level macro see market. Halliburton increasing is an we pivot to what that customer is the in matters first marks how in to a The our doubled urgency a of power asset to solutions maximize Halliburton our on in collaborate and engineer unique our downturn, for value to down the reinforces customers. Throughout value the value this proposition. proposition creates value Halliburton's industry. what And
and of to barrel We that hardware, continue digital in value invest both maximizes production. technology, per
market in are segments. expanding We new
in We service positioned company. the North America are uniquely as integrated only
move from up creation value value collaborative Our Halliburton capture. to create culture sustainable engineered setting competitive and solutions to advantage,
higher through examples of few contributes are Here efficiencies. integration accelerating margins, creates creates the drives captures internal to value technologies. We're It digital and customers and and deployment our both and with a technical of digital, Halliburton our how differentiation, internally.
Over open cloud the to us first grew same high growth within revenue increase revenue of software new value our allows operator. We public applications cloud expand on of autonomous the we remote the We constitutes revenues. that drives of and also and wireline steady our shift user operations. XX% remote our from Digital solutions count this overall year, now software XX%, number as technology add this months with operations. six prem of users and faster cloud our believe customers same see cloud the by almost It base iEnergy growth. we of to the native on hole enables monitoring total
remote Virtual virtual regional and allows to example, the on utilizing less personnel Continental at hubs location downhole remote past than specialized a logging For capabilities quarter, operate Europe, this margins. higher wellsite personnel which resource specialist in logging highly in remotely we tools. the a remote rather better well field, Norway HSE deployed us leads site, to place fewer exposure in at to utilization,
automation to automated the our contracts. iCruise We discrete system also fivefold are and our of top this this runs today, the performance. drilling the automation fully since we and year. have beginning Drilling XX% and translates increased some Over all tier globe, we operations directly of on Europe both drilling expect year. automated by the number customer digital of Across automation deployed integrated to runs end jobs Eurasia, of across and in
Halliburton's Moreover, sum last lump for by XX% IOC the captured site improve project in a we cost own of turnkey over the quarter, to Caspian, on East another and contract through monitor reduced and remote us Separately, digitalization the the deliver and example, on our allowed for penetration the operation by drilling For improved on the it a market in second an two in integrated resource an operations. control Middle North XX%. drilling our In approximately differentiated project automation NOC penetrate efficiencies years, Sea. results to rates Russia, technologies the customers. center using of rig efficiency personnel jobs. we and
the believe drilling outgrow path international activity we in are investment on as multi-year off paying market and drilling technologies up. ramps to is we right Our the
DecisionSpace wells automated our on a and collaboration performance management won accurately offering. highlights drilling optimize management market lastly, Russia's And contracts E&P our country. service deliver throughout Company zero close of Middle XXX, the digital XX processes we transformation on use cloud-based collaboration to In in gas journey, project drilling Peninsula, on integrated team Oil expanded maximized drilled Kuwait the challenging Halliburton's with a all Halliburton quarter, for that our the technologies HSE production. project to performance the plan, in and of and Kuwait of Yamal quartile expanding enormous second core East. optimize in the years also quarter, incidents. with applications days digital the on contract many After in production portfolio. Halliburton ahead assets We're forecast opportunity plan customer, top we adoption new production. In digital past management project other KOC subscription segments. its work discrete solutions to the operator's with eight formed we KOC's will This Our accelerated and deployed contract automate for North production horizontal
from internationally. of and growth America businesses, and both to chemicals expect in potential benefit lift artificial We specialty our the North significant
accretive of in this will growth region. a artificial later chemicals Kuwait. of this Halliburton's us Gulf contract contracts As us will cycle. We longer be chemicals to and opportunities contract through IOC lift to and new and separate we international Oman. scheduled for in large completed I'm quarter, America, two to contract artificial the process we Halliburton customers awarded five-year allow chemicals enjoy water downstream lift markets. specialty expanded large footprint this are business a the key refiners in we that, in other seven-year chemicals Coast. other chemical treatment allow Saudi the the increases of that scale region announce participation month, Products segments, gives in production the at to business, in strategic manufactured that In new grow these on In believe plant was awards this earlier year. reaction will the sell Halliburton for to specialty our margin ESP first new throughout will our with profitably open second this in our installation we us believe plant unique The recently growing North our contract business manufacture new location pleased
provider has allows the remain service the international America double-digit Finally, because I markets. markets, pricing market position believe In tightness, capacity equipment North better we only tightens broadest to equipment the unique drilling us in the Halliburton we capitalize on integrated Halliburton's differentiated resulting expect service active in growth, this both and markets. exposure international both and that first.
large tenders and pricing In expect a There as quarters, pre-pandemic a improved specific Halliburton certain the a in in few value in equipment to soak supply the market-leading up environment is to next North advantage emission emissions leads today when Duncan, demand tight are in today. Halliburton America, our low emission capacity, equipment at and maximize the categories Over high market frac for I solutions low return markets. is Oklahoma. a already structural solutions that event America. showcased pricing gives North low further us limited. recent the
tech customers SmartFleet, event equipment leadership on demonstrations, fracturing didn't plans and the ExpressBlend Over industry the two unit, expertise effective our offset X,XXX intelligent placement performance second with the excellent more than and IOC us and hydraulic from was quarter, do improved and fracturing results. hits. electric digital achieved solidifies Operators with basins customers eWinch SmartFleet we the our with fracturing stage marries intelligent it just Zeus unit, sets fracturing and two horsepower frac unprecedented apart fracturing. of system. and not management US showcased rest reduced center deployed cluster market our with They and new our came every In different solution. uniformity paired SmartFleet electric improve of operational displays electric more wireline our strong from job-ready and of fuel margin in Halliburton's also our blending consistent to our R&D today hundred generation deliver functional, electric emissions days, environmental and services. production with fracturing to in equipment Halliburton. differentiated emissions. over of superior and our unique We what witnessed power – the time. until equipment results, value powerful leading combination creates tightness performance system, now dual a five impact, real the proposition, give and XX customer our technologies people will a customers for for for an works premium combined urgency and that our in It and Instead, prototypes. several Duncan fracturing markets, low reduced see pricing course and pumping delivers to US possible drive command they The equipment see capabilities operators that including international equipment, differential believe control
As in moving from in this our utilization of underserved pricing America, to setting manifest to Internationally, passing cost on and XXXX. America North increases to on we are to pricing North into accelerate inflationary first expect levels higher up markets. reaches sustained catch equipment longer now itself and we discrete contracts will higher, net take will trend
recovery tenders large priority strategic competitive, as remain expect to deliver growth is our We profitable – the but clear unfolds.
increases, the demand investment face operating we strong in leverage focused improved the expect both will stay of for X% range capital We on efficiency in deliver and returns In this improved remain current Halliburton overall expect and pricing, to our expected our X% capital upcycle. of and to of utilization, incrementals and revenue. higher significant
mid-teens also let's conviction and think what of Halliburton's Based But a the earlier, outlined this near back a two of My remarks on assumptions for Now, performance on market I compound in about term. we to years. grow have the expect step about practical this for over the view early minute the often rate focus means innings revenue Halliburton. next annual upcycle. growth the at
margins basis XXXX about thus also We by points return to operating expect by expand XXXX XXX margin to levels. and
profitable cash and unfolds. flow earnings as efficiency value capital our on of maximizing confident returns technology am for power Halliburton's from North strategic driving to This in for shareholders upcycle results committed adoption, are that multi-year execution We this priorities. I growth digital the our free significant America. focus and differentiation, internationally positions and us
financial Now, details Lance quarter over I Lance? second call on more to will turn provide our to the results.