Halliburton reports soaring first-quarter profits

Paula Dittrick
OGJ Senior Staff Writer

HOUSTON, Apr. 18 -- Halliburton Co.’s management plans in the coming months to return some equipment and workers to the Gulf of Mexico, Halliburton Chairman, Chief Executive Officer, and Pres. Dave Lesar said Apr. 18 while he announced escalating first-quarter profits.

Halliburton moved some equipment and workers from the gulf to US onshore while regulators temporarily suspended drilling during investigations into the Apr. 20, 2010, blowout of BP PLC’s deepwater Macondo well in 5,000 ft of water off Louisiana and the subsequent oil spill.

An explosion and fire on Transocean Ltd.'s Deepwater Horizon semisubmersible resulted in the deaths of 11 workers. A resumption of offshore US drilling is coming about gradually as producers and contractors fulfill new federal certification requirements.

Halliburton reported first-quarter net income of $511 million, compared with $206 million for the same period last year.

Contact Paula Dittrick at paulad@ogjonline.com.



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