Despite the uptick, the company’s stock fell on concerns that a shortage of pipeline capacity in the Permian basin will slow production there in the coming months.
In a conference call with analysts, president and CEO
“As we’ve seen so far, our customers will not all react in the same manner,” he said.
The company reported $4.2 billion in completion and production sales, up from $3.1 billion during the same period last year. Drilling and evaluation revenue climbed slightly to $2 billion, up from $1.8 billion the prior year.
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