Halliburton Sees a Positive Future

As oil production declines it becomes apparent that the “current rig count isn't high enough to sustain production…the implication is that at some point rigs will need to go back to work, because even though the oil market is currently oversupplied, it's a delicate imbalance as the natural decline rate of an oil well never sleeps, which means new wells must be drilled to meet future demand.” Because of their proven speed at bringing new supplies online and the high return, North American unconventional resources have become the swing producers in the oil market. Jeff Miller, president of Halliburton, notes that company provides critical services to bring wells online.