26 October 2006

1.2 Billion Reasons We're Winning in Iraq

Halliburton Co. watched third-quarter net income rise 22 percent, thanks in part to fewer disruptions from hurricanes, which beset the oil industry last year.

"This was an exceptional quarter for Halliburton," said Dave Lesar, the company's chairman, president, and chief executive officer in a prepared statement.

Halliburton's Iraq-related work contributed nearly $1.2 billion in revenue in the third quarter of 2006 and $45 million of operating income, a performance that pleased analysts.

"Iraq was better than expected," said Jeff Tillery, analyst with Pickering Energy Partners Inc. "Overall, there is nothing really to question or be skeptical about. I think the results are very good."


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