By Liz Hampton and John Benny
(Reuters) – Oilfield services provider Halliburton (NYSE:HAL) Co’s third-quarter profit edged past analysts’ estimates on Monday, helped by its international business, even as pipeline bottlenecks in North America led to fewer well completions.
Halliburton, the largest provider of hydraulic fracturing services, has seen demand for its services soften as U.S. producers cut down on spending and transportation bottlenecks in the Permian basin of west Texas and New Mexico pushed the price of regional crude lower.
The company had previously warned that slowing growth in the largest U.S. shale basin would impact its results.
But while demand for its North American completions services has weakened, the firm’s international business is showing signs of recovery, the company said on Monday, as global oil prices have climbed to around $80 a barrel.