U.S. Intervention Halts Venezuela Asset Auction for Halliburton
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 5 days ago
0mins
Should l Buy HAL?
Source: seekingalpha
- Auction Cancellation: Venezuela has canceled the auction of assets seized from Halliburton (HAL) due to intervention from the Trump administration, which is expected to clear the way for the company's return to Venezuela, highlighting ongoing U.S. interest in the region's energy market.
- Operational Readiness: Halliburton shut down its primary operations in Venezuela in 2020 following U.S. sanctions against the Maduro regime; however, CEO Jeff Miller stated that the company is ready to quickly restart operations in Venezuela once it secures U.S. government approval and payment protections, indicating its commitment to the market.
- Legal Proceedings: In December, a Venezuelan court ordered the sale of Halliburton's equipment, followed by the company's lawsuit at the World Bank's international arbitration court, demonstrating its proactive approach to safeguarding its interests and creating conditions for future business resumption.
- High-Level Engagement: U.S. Energy Secretary Chris Wright visited Venezuela earlier this month and met with acting President Delcy Rodriguez, indicating a positive attitude from the U.S. government towards facilitating Halliburton's return to the market, which could accelerate cooperation between the two parties.
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Analyst Views on HAL
Wall Street analysts forecast HAL stock price to fall
18 Analyst Rating
12 Buy
6 Hold
0 Sell
Moderate Buy
Current: 35.260
Low
28.00
Averages
32.31
High
39.00
Current: 35.260
Low
28.00
Averages
32.31
High
39.00
About HAL
Halliburton Company is a provider of products and services to the energy industry. The Company operates through two segments: Completion and Production and the Drilling and Evaluation. The Completion and Production segment delivers cementing, stimulation, specialty chemicals, intervention, pressure control, artificial lift, and completion products and services. The segment consists of artificial lift, cementing, completion tools, pipeline and process services, production enhancement, and production solutions. The Drilling and Evaluation segment provides field and reservoir modeling, drilling fluids, evaluation and precise wellbore placement solutions that enable customers to model, measure, drill, and optimize their well construction activities. Its product service lines include Baroid, drill bits and services, Halliburton project management, landmark software and services, Sperry drilling, testing and subsea and wireline and perforating.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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