Oilfield Services Giants Optimistic About Drilling Recovery
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Two of the world’s largest oilfield services providers, Baker Hughes and Halliburton, reported on Wednesday profits beating expectations and expressed optimism that oil demand and oil drilling activity will grow through the rest of the year and into 2022. Baker Hughes (NYSE: BKR) booked adjusted earnings per share of $0.12 for the first quarter of 2021, up from $0.11 for Q1 2020 and from a loss of $0.07 for the fourth quarter of 2020, and beating the analyst estimate of $0.11 per share earnings. Free cash flow at Baker Hughes nearly doubled…
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