Sorry, no gimmicky title to this week’s post.
But HAL did report 2Q results this past week. I had scheduled this post 3 weeks ago not knowing they would report so sort of timely.
Anyway back to the subject at hand.
The ironic thing about the big oilfield service (OFS) companies is they are all named after the founders.
Marcus and Conrad Schlumberger - Schlumberger
Baker Oil Tools later Baker International - Reuben Baker
Hughes Oil Tools - Howard Hughes Sr.
Halliburton was founded by Earl Halliburton during the 1920s oil boom in Oklahoma and Texas.
So if you want to start a successful OFS company, name it after yourself.
Before Halliburton founded his company he got his start working for The Perkins Oil Well Cementing Company in California learning the process of cementing oil wells.
He had a falling out with the owner, packed up and moved his family to Oklahoma where he would successfully apply the new well cementing technology to wells for Skelly Oil (later bought by Getty which in turn was bought by Texaco who was merged with Chevron HERE )
Word spread among the oil companies of Halliburton’s success and growth took off.
Similar to $SLB, HAL 0.00%↑ stock was a rock start in the 1970s oil boom as shown below.
As shown below, upstream capex drives HAL’s topline.
I love this chart below because I am able to take it back so far. SLB and BKR data cant go back this far.
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