Revenue from international operations
In 2Q16, Halliburton’s (HAL) revenue share generated outside the US gained. Halliburton’s international revenue rose to 60% of its total revenue in 2Q16—compared to 55% in 2Q15. In comparison, Schlumberger’s (SLB) revenue from its international operations rose to ~76% of its total revenue by the end of 2Q16—compared to 73% a year ago. Read Do Schlumberger’s Fundamentals Suggest Investment Opportunities? to learn more.
International rig count
By August 31, the international rig count fell 18% compared to last year. The fall was less compared to the fall in the US rig count, as we discussed in the previous part. Halliburton accounts for 0.17% of the iShares Dow Jones US ETF (IYY). The energy sector makes up 6.8% of IYY.
Next, we’ll discuss Halliburton’s value drivers.