Halliburton Co., the No. 2 oilfield service provider, expects to raise prices at least 10% and in some cases 20% or more this year. The increases are higher than many customers expect but ones that company executives said were crucial to fuel the oil industry’s nascent growth.
The rising business activity comes as Jeff Miller prepares to become the 98-year-old company’s CEO next month, taking over from Dave Lesar, CEO since 2000.
“We will continue to implement our strategy,” Miller said in an interview at the company’s Houston headquarters just outside George Bush Intercontinental Airport. “North America is absolutely our growth story today.”
Miller, Lesar and other executives have been in talks with customers for months about raising rates for Halliburton’s myriad services, highlighting not only the company’s scale but its experience.
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Source: Daily Dose of ShaleDirectories.com News