24 apr: IBM løfter aktietilbagekøbsprogram med 7 mia. dollar
24 apr: USA: Forbrugertillid skuffer en smule
24-04-2012 15:49:00

Baker Hughes CEO: North America 2Q Margins Expected To Decline

Relateret indhold

HOUSTON -(Dow Jones)- Baker Hughes Inc.'s (BHI) North America margins for the second quarter are expected to decline, Chief Executive Martin Craighead said Tuesday.

Margins have already declined sequentially in the first quarter due to the logistical challenges produced by the migration of natural gas-directed rigs toward more profitable oilfields, and the rapid build-up of pressure-pumping and hydraulic fracturing capacity that resulted from the recent shale boom.

In a conference call with investors, Craighead said that second-quarter margins will "decline primarily due to seasonality in Canada" and continued weakness in pricing for its pressure pumping services. "Pricing in pressure pumping will likely continue to decrease throughout the end of the year," he said.

The third-largest oilfield services provider, after Schlumberger Ltd. (SLB) and Halliburton Co. (HAL), is also facing execution challenges in its pressure-pumping business, which analysts say are due to an inability to retain the workforce it inherited from its acquisition of BJ Services in 2009.

Craighead said that he has "made changes" in the leadership team for the pressure pumping business. "I'm confident that this team will deliver on expectations," he said. The company is also heavily investing in improving transportation and logistics for hydraulic fracturing, Craighead added.

Craighead said that he has no concerns about access to guar, "even though the price is horrific." Guar, a legume whose juices are used in hydraulic fracturing, is in high demand and its skyrocketing price is helping thin margins for oilfield service providers.

Craighead said that a margin rebound is expected in the second half of the year, as activity in the U.S. Gulf of Mexico ramps up and international drilling keeps its strength.

"We're pretty optimistic in our international margins overall," Craighead said.

-By Angel Gonzalez, Dow Jones Newswires; 713-547-9214;angel.gonzalez@dowjones.com

(END) Dow Jones Newswires

April 24, 2012 09:49 ET (13:49 GMT)

Copyright (c) 2012 Dow Jones & Company, Inc.

Opret kommentar

Relateret debat

  • 1 uge
  • 1 måned
  • 1 År
Ingen indlæg

Fondsbørsmeddelelser

Glunz FY: Ingen udbytte i vente efter ventet underskud

25-08-2016 15:09:39
Der var underskud på bundlinjen for Glunz & Jensen, der blandt andet laver og sælger udstyr til trykkerier, i det netop overståede regnskabsår, der løb fra 1. j..

Alm. Brand/CEO: Tre årsager til samlet opjustering

25-08-2016 13:00:16
Alm. Brand-koncernen kunne i torsdag morgens regnskab for andet kvartal opjustere forventningerne til hele årets resultat før skat med 100 mio. kr.Langt største..

ATP/CEO: Dong Energy skæppede med 2,9 mia. kr. - NY

25-08-2016 11:06:43
Pensionsgiganten ATP fik i første halvår et investeringsafkast på 6,7 pct. svarende til 6,9 mia. kr. Mens man tabte på udenlandske aktier - de japanske især - s..

Mest læste nyheder

  • 24 timer
  • 48 timer
  • 1 uge
1
Zealand H1: Venter bedste år nogensinde med bredere portefølje
2
Aktier/tendens: Strøm af regnskaber ventes at dominere
3
Parken/Nordnet: Aktien kan stige tocifret efter opjustering
4
Torsdagens aktier: Pandora på pinebænken efter USA-skuffelse
5
Aktier/middag: Regnskabsvrimmel med plus til Sydbank

Relaterede aktiekurser

Halliburton Company 44,42 0,2% Stigning i aktiekurs
Baker Hughes Incorporate.. 51,35 0,2% Stigning i aktiekurs
Schlumberger N.V. 81,13 -0,3% Fald i aktiekurs
Schlumberger 78,40 -0,3% Fald i aktiekurs
Schlumberger 71,71 -0,9% Fald i aktiekurs
Schlumberger LD COM STK .. 81,43 0,0% Fald i aktiekurs
Baker Hughes 44,05 0,0% Aktiekurs uændret

Køb- og salgsanbefalinger

  • Trend
  • Pengemaskinen

Copyright Euroinvestor A/S 2016  Disclaimer Privatlivspolitik
Aktieinformation leveres af Interactive Data.
Data er forsinket 15-20 minutter iht. de enkelte børsers regler om videredistribution.
 
25. august 2016 20:25:09
(UTC+01:00) Brussels, Copenhagen, Madrid, Paris
Version: LiveBranchBuild_20160823.1 - EUROWEB3 - 2016-08-25 20:25:09 - 2016-08-25 20:25:09 - 1 - Website: OKAY

Når du besøger Euroinvestor.dk accepterer du, at der anvendes cookies, som vi og vores samarbejdspartnere benytter til funktionalitet, statistik og markedsføring. Læs mere om cookies på Euroinvestor.dk her

x