Halliburton More Than Doubles Its Profits in Q1

North American drilling, high oil prices help
By Evann Gastaldo,  Newser Staff
Posted Apr 18, 2011 8:07 AM CDT
Halliburton More Than Doubles Its Profits in Q1
In this April 15, 2009 file photo, the Halliburton sign adorns the side of a machine being used by the company at a site for natural-gas producer Williams in Rulison, Colo.   (AP Photo/David Zalubowski, File)

Despite challenges arising from political unrest in the Arab world, Halliburton's net income has more than doubled during the first quarter of 2011. The oil-field services company credits the soaring earnings to an increase in unconventional North American oil and natural-gas drilling; the AP reports that North American revenue jumped 75%, while revenue from international operations was up 11%. The Wall Street Journal notes that high oil prices also helped. Halliburton's first-quarter profit was $511 million, up from $206 million a year prior. (More Halliburton stories.)

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