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Halliburton Sees 10%-plus Price Rise This Year

Posted by Eric Haun

Halliburton Co believes it can raise prices more than 10 percent this year, executives of the No. 2 oilfield service provider said on Thursday.
While that increase will be more many customers would like, Halliburton said it needs to charge more if it its to provide the services needed fuel the industry's nascent recovery,
"Pricing momentum continues to move in a positive manner," Jeff Miller, who will become the company's chief executive next month, said in an interview. "Customer urgency is the most-important part of that discussion today."
Prices for pressure pumping and other services won't jump, though, as in the last industry boom, outgoing CEO Dave Lesar added.
"We and our customers have to co-exist in this environment," said Lesar, who will remain executive chairman. "Everybody has got to make money."
Halliburton announced the leadership transition on Wednesday night.

(Reporting by Ernest Scheyder; Editing by David Gregorio)

May 18, 2017



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