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With oil prices at eight-year highs and equipment shortages keeping negotiating power on the oil-field-service companies’ side, Halliburton is having a field day.
The oil-field-services giant had a healthy first quarter, with total revenue increasing 24% compared with a year earlier, above analyst expectations polled by FactSet. Much of that was driven by strong growth in North America. Revenue grew 37% in that region while its international segment saw 15% growth.