Halliburton shares rise amid increased oil activity in N. America

Flash – Halliburton shares rise amid increased oil activity in N. America – France 24 – The US oil services giant, a player in the hydraulic fracturing behind the US shale boom, said North American activity improved in the third quarter with a higher rig count as oil prices stabilized. “I am pleased with our third quarter results given the devastation our industry has faced over the last two years,” Halliburton chief executive Dave Lesar said in a statement. “We believe the underlying fundamentals driving our industry are strengthening, and I am optimistic about Halliburton’s relative performance as we move into the new year,” he said. The company’s share price rose 5.1 percent to $49.46 in mid-morning trading. Halliburton reported a scant $6 million in third-quarter net profit, up from a $54 million loss in the year-ago period. Revenues were flat at $3.8 billion.

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