Houston • Halliburton Co. expects continued improvement in the North American hydraulic fracturing market and is "immediately" adding crews to begin work later this year.
The world's largest provider of the service that blasts water, sand and chemicals underground to free trapped hydrocarbons, expects third-quarter operating profit margins in the region to be near 20 percent, the company said Monday in a statement. Second-quarter earnings were 32 percent above the results from the same period last year. Sales climbed 10 percent to $8.1 billion.
After two years of falling prices for fracking services from a glut in equipment, prices in the United States are expected to increase 2 percent this year and another 4 percent in 2015, according to a May 16 report by PacWest Consulting Partners.