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Does Rig Count Affect Halliburton’s International Revenues?

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Revenue from international operations

In 2Q16, Halliburton’s (HAL) revenue share generated outside the United States increased to 60% of its total revenues, compared to 55% in 2Q15. By comparison, at the end of 2Q16, Schlumberger’s (SLB) revenues from its international operations increased to ~76% of its total revenues, compared to 73% a year ago.

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International rig count

By July 31, 2016, the international rig count had declined 16% from a year ago. The fall was less than the decline in the US rig count, which was cut nearly in half over the past year through September 2, 2016. HAL makes up 0.17% of the iShares Dow Jones US (IYY). The energy sector makes up 6.5% of IYY.

Next, let’s take a look at Halliburton’s revenues and earnings.

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