Shares in oil services titan Halliburton Company (NYSE:HAL) raced up 3% pre-market after its latest quarterly numbers showed profit beating Wall Street's expectations - thanks to a boom in North American business.
The group is the third biggest oil services group in the world and revenue from North America surged 83% to US$2.77bn in the three months to end June.
The reason is shale and shale producers added 94 rigs in the period, as these firms can still make a profit even at these constrained crude prices.
Net profit was US$28 million, or 3 cents per share, in the second quarter, compared to a loss of US$3.21bn, or US$3.73 per share in the second quarter of 2016.
Later shares in the group eased over 4% to stand at $42.54.
Halliburton posts strong Q2 results with USD0.03 per diluted share: Halliburton Company… https://t.co/vswabaZLfW
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