On Monday, Shares of Halliburton Company (NYSE:HAL), gained 1.83% to $40.72.
Halliburton Company, declared that income from ongoing operations for the second quarter of 2015 was $380 million, or $0.44 per diluted share, not taking into account special items. This compares to income from ongoing operations for the first quarter of 2015 of $418 million, or $0.49 per diluted share, not taking into account special items. Adjusted operating income was $643 million in the second quarter of 2015, contrast to adjusted operating income of $699 million in the first quarter of 2015. Halliburton’s total revenue in the second quarter of 2015 was $5.9 billion, contrast to $7.1 billion in the first quarter of 2015.
Primarily as a result of the recent downturn in the energy market and its corresponding impact on the company’s business outlook, Halliburton recorded about $258 million, after-tax, or $0.30 per diluted share, in the second quarter of 2015, as contrast to $823 million, after-tax, or $0.97 per diluted share, in the first quarter of 2015, in company-wide charges related primarily to severance costs and asset write-offs. Halliburton recorded Baker Hughes acquisition-related costs of $67 million, after-tax, or $0.08 per diluted share, in the second quarter of 2015, as contrast to $35 million, after-tax, or $0.04 per diluted share, in the first quarter of 2015. Stated income from ongoing operations was $55 million, or $0.06 per diluted share, in the second quarter of 2015, as contrast to stated loss from ongoing operations of $639 million, or $0.75 per diluted share, in the first quarter of 2015. Stated operating income was $254 million for the second quarter of 2015, as contrast to stated operating loss of $548 million for the first quarter of 2015.
Halliburton Company provides a range of services and products to the upstream oil and natural gas industry worldwide. The company operates through two segments, Completion and Production, and Drilling and Evaluation.
Shares of Enterprise Products Partners L.P. (NYSE:EPD), declined -2.40% to $28.45, during its last trading session.
Enterprise Products Partners, declared that it has executed definitive agreements to sell its offshore Gulf of Mexico pipelines and services business, which primarily comprises of its Offshore Pipelines & Services business segment to Genesis Energy, L.P. (“Genesis”) for about $1.5 billion in cash. The transaction is predictable to close during the third quarter of 2015. Enterprise’s offshore assets comprise its ownership interest in nine crude oil pipeline systems with more than 1,100 miles of pipeline; nine natural gas pipeline systems totaling about 1,200 miles of pipeline; and its ownership interest in six offshore hub platforms.
Enterprise anticipates to record non-cash asset impairment and related charges of about $100 million, or $0.05 per common unit on a fully-diluted basis in connection with the sale of its offshore Gulf of Mexico pipelines and services business. Since these assets were viewed as held-for-sale at June 30, 2015, these non-cash charges will be reflected in Enterprise’s merged results for the three and six months ended June 30, 2015.
Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products in the United States and internationally. Its NGL Pipelines & Services segment provides natural gas processing and related NGL marketing services, in addition to import and export terminal services.
Finally, LyondellBasell Industries N.V. (NYSE:LYB), ended its last trade with -1.30% loss, and closed at $96.23.
LyondellBasell Industries, will declare second-quarter financial results before the U.S. market opens on Tuesday, July 28, to be followed by a conference call to talk about results at 11 a.m. EST.
LyondellBasell Industries N.V. operates as a manufacturer of chemicals and polymers, refiner of crude oil, producer of gasoline blending components, and developer and licensor of technologies for production of polymers.
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