Energy Market & Energy Statistics

Aenert news. Energy Companies
Halliburton, Schlumberger and Baker Hughes reported their results for the fourth quarter of 2023 and for the year as a whole. These companies constitute a pool of world leaders in the field of the latest oil and gas production technologies designed for the most complex underground reservoirs, the extraction of various types of unconventional fossil resources, and drilling in difficult offshore conditions, including the Arctic. The performance of these companies largely reflects the state of the oil and gas industry around the world. This opinion is facilitated by the wide geographical representation of these companies, the multi-billion dollar volume of services offered, the diversity of these services and, finally, the highest level of quality of intellectual products, repeatedly tested over the many years of their activity. High demand for innovative services of service companies, supported by specialized production companies, inevitably indicates the presence of positive trends in the oil and gas industry and creates a feeling of confidence in supplying world markets with oil and gas.

Halliburton

Halliburton had a fairly strong fourth quarter of 2023, although some numbers were slightly lower than the prior quarter. Net income amounted to $661 million versus $716 million in 2023Q3. Similarly, Total Revenue in 2023Q4 was recorded at $5,739 million and $5,804 million in the third quarter of last year. Operating profitability of Operating income activities amounted to 18%. Net earnings per diluted share are calculated at $0.86. The Completion & Production division traditionally generated the largest operating profit, although it was more than 4% less than in 2023Q3. On the other hand, the less profitable Drilling & Evaluation division showed perhaps the best operating profit in its history in the last quarter of last year.

Halliburton Company. Revenue, net income and share price



Source: Based on Halliburton

The company's total operating income for 2023 was a record high, reaching $4,083 million, which is almost 51% more than a year earlier and 127% more than in 2021. Of the total Total Revenue in 2023 of $23,018 million, the largest revenue was generated in North America – 45.5%.

Schlumberger

Schlumberger's Total Revenue in 2023Q4 continued its growth for the fourth quarter in a row and reached a record $8,990 million versus $8,310 million in the previous quarter. EBITDA is set at 25.3%, which is not much higher than in 2023Q3. Net income attributable to SLB amounted to $1,113 million, which is approximately 1% less than in the third quarter of 2023. Unlike Halliburton, Schlumberger received the largest annual income outside North America – 81%.

Schlumberger Limited Company. Revenue, net income and share price



Source: Based on Schlumberger

Schlumberger's overall results for 2023 look impressive. Total Revenue was recorded at $33,135 million, which is immediately 18% more than in 2022. Net income attributable to SLB amounted to a record $4,305 million (+ 37%).

Despite such impressive results, the company’s share price at the end of 2023 returned to the values ​​at the end of 2022.


Close up Oil Drilling Rig. Envato Elements. JNTZCWAEQY

Baker Hughes

Baker Hughes also followed the successful trends of its competitors over the past year and demonstrated excellent performance. Baker Hughes' total revenue for 2023Q4 is estimated at $6,835 million, up 3% from the prior quarter and up nearly 16% from the same quarter a year earlier. The company also received a good Net income attributable to BH, which amounted to $439 million. True, this is significantly less than in the more productive first and third quarters of 2023, but it is 1.4 times more than in 2022Q4.

Baker Hughes Company. Revenue, net income and share price



Source: Based on Baker Hughes

At the end of 2023, Baker Hughes’ Total Revenue increased to $25,506 million (+20.5% by 2022), and Net income attributable to BH stopped at $1,943 million against a loss of $601 million a year earlier.

Summing up this brief material, one cannot help but draw the main conclusion that, in general, the global oil and gas industry is on the rise. Evidence of this is the record financial performance of the main service companies. Consumers demand new technologies. Whether this is due to the desire to increase current oil and gas production, or to the desire to maintain production indicators when moving to less productive formations, is generally unimportant. Just a few years ago, it seemed that the oil and gas industry was sliding into an area of stagnation, actively attacked by the green agenda. However, actual results indicate that it is too early to talk about this.

By the Editorial Board