Halliburton to Report Q3 Results Tuesday After Venezuela Agreements

Halliburton will release its third-quarter results before U.S. markets open Tuesday, giving investors a measure of the oilfield services company’s performance as it pursues work in Venezuela and holds contracts elsewhere overseas.

Analysts expect adjusted earnings of $0.58 per share and revenue of $5.58 billion. The earnings estimate is unchanged from a year earlier, while the revenue estimate represents a 0.4% decline.

Halliburton signed memorandums of understanding with Eneva and WESCA in September to explore energy development opportunities in Venezuela. Halliburton and Eneva plan to identify potential projects. Its agreement with WESCA covers field evaluation and development planning. The agreements do not establish completed projects or revenue.

In Saudi Arabia, Aramco awarded Halliburton a multiyear contract in July for stimulation and well-completion services tied to unconventional gas development. Development is underway in the Jafurah Basin.

Halliburton also received an integrated contract from bp in August for the first appraisal campaign at the Bumerangue field offshore Brazil. The contract covers drilling services and reservoir evaluation.

Halliburton plans to issue its results before a conference call Tuesday at 9 a.m. ET (13:00 UTC).