Halliburton CEO Expects Permian Bottlenecks Gone By End of '19
Halliburton CEO Expects Permian Bottlenecks Gone By End of '19
(Bloomberg) -- Halliburton Co. expects bottlenecks in America’s busiest oil field to be relieved by the end of next year.
A series of catalysts will drive drilling and fracking activity in the Permian Basin of West Texas and New Mexico throughout the next year, Jeff Miller, chief executive officer of the world’s biggest fracker, said during a Bloomberg TV interview on Monday. Explorers’ budgets will reload as the calendar flips to next year, and a host of new pipelines will open in the second half of 2019 to create more takeaway capacity.
“It will be a series of events throughout 2019 that occur,” Miller said. “But it’d be easy to see, as we finish the year, things being perfectly normal.”
It was a slightly nuanced comment from Miller, who said last month that he was trying to stay “less prescriptive on the timing of those catalysts.”
Other News
- Miller, a board member of Halliburton, said an Interior Department investigation into a land deal involving Interior Secretary Ryan Zinke and Halliburton Chairman Dave Lesar is unrelated to the company.
To contact the reporters on this story: David Wethe in Houston at dwethe@bloomberg.net;Alix Steel in New York at asteel6@bloomberg.net
To contact the editors responsible for this story: Simon Casey at scasey4@bloomberg.net, Joe Carroll, Steven Frank
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