Oct 21 (Reuters) - Halliburton ( HAL ) beat Wall Street
estimates for third quarter profit on Tuesday, helped by steady
demand for its oilfield equipment and services in North America.
U.S. crude production will reach a record higher well
productivity, the Energy Information Administration (EIA)
forecasts, boosting oilfield services and equipment demand.
The oil and gas rig count, an early indicator of future
output, stood at 548 in North America in the third quarter, up 8
from the previous quarter, according to Baker Hughes data.
The Houston-based company's quarterly revenue from its
North America segment was $2.4 billion, about the same as a year
earlier, which came above analysts' average estimate of $2.17
billion.
The company reported an adjusted profit of 58 cents per
share for the quarter ended September 30, beating analysts'
estimate of 50 cents, according to LSEG data.