Halliburton Projects 2027 Growth Despite Stagnant U.S. Fracking Demand

Halliburton expects mid-single-digit revenue growth and operating margins of about 15% in 2027, with no recovery assumed in North American fracturing. Q3 revenue held flat at $5.7 billion, as an 8% gain in Middle East/Asia offset lower U.S. land pressure pumping.

admin October 21, 2026

By 2027, **Halliburton** projects mid-single-digit revenue expansion alongside operating margins reaching approximately 15%—a roughly 200-basis-point gain—driven by international momentum compensating for a weaker North American market. For the third quarter, the company reported **$5.7 billion in revenue, matching second-quarter results**. Net income stood at $417 million, or $0.50 per share. Excluding special charges and impairments, adjusted net income reached $501 million, or $0.60 per share.

“We are another three months into one of the largest energy disruptions in history. I expect the work to restore production, rebuild inventories and strengthen energy security will drive multi-year demand growth for oilfield services,” stated Chairman, President and CEO **Jeff Miller**.

Driven by reduced pressure pumping across U.S. land operations, North American revenue dropped 5% to $2.2 billion. Conversely, international revenue expanded 3% to $3.5 billion. Regional performance included:

* **Middle East/Asia:** Revenue grew 8% to $1.4 billion, propelled by increased operational volume in Kuwait and Saudi Arabia.
* **Latin America:** Revenue held steady at $1.1 billion, as reduced stimulation projects in Argentina were counterbalanced by expansion in Mexico.
* **Europe/Africa:** Revenue remained flat at $1.0 billion, as a decline in Namibian well construction was offset by gains in Nigeria.

Across business divisions, Drilling and Evaluation generated $2.6 billion in revenue—a 4% rise—while boosting operating income by 16%. Completion and Production revenue slipped 4% to $3.1 billion, impacted by decreased stimulation work across the Western Hemisphere.

Throughout the quarter, Halliburton secured several key partnerships and agreements:

* An integrated well construction and completions award from Eni targeting the Cronos ultra-deepwater gas project in Block 6 offshore Cyprus
* An integrated drilling agreement with bp covering the initial appraisal phase at the offshore Brazil Bumerangue discovery
* Implementation of LOGIX remote operations and automation for an Eni deepwater exploration well offshore Indonesia
* Memorandums of understanding signed with WESCA and Eneva to evaluate operational prospects in Venezuela
* A multiyear digital collaboration with Pampa Energía focused on the Vaca Muerta play

“This outlook assumes a flat North America market and does not require any recovery in North America hydraulic fracturing. To us, that recovery is purely upside,” Miller stated.