Halliburton 2015 Annual Report Download - page 52

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35
Completion and Production
Revenue increased 16% compared to 2013, with activity increases across all regions and predominately in North America.
•North America revenue rose 20% primarily as a result of increased stimulation activity in the United States land market.
•Latin America revenue improved 3%, as increased activity levels in the majority of our product service lines in Venezuela
and Argentina more than offset a decrease in stimulation activity in Mexico and lower pressure pumping activity in Brazil.
•Europe/Africa/CIS revenue grew 9%, driven by strong growth across most of our product service lines in Angola and the
United Kingdom, as well as increased completion tools sales in Nigeria, which were partially offset by lower pressure
pumping activity and currency weakness in Norway.
•Middle East/Asia revenue improved 11% primarily due to increased activity in the majority of our product service lines in
Saudi Arabia, higher cementing activity in Thailand, and increased stimulation and artificial lift activity in Australia, which
more than offset reduced activity levels in Oman and a decline in completion tools sales in Malaysia.
•Revenue outside of North America was 32% of total segment revenue in 2014 and 35% of total segment revenue in 2013.
Operating income increased 28% compared to 2013, driven predominantly by strong growth in North America coupled with
modest improvement in the Eastern Hemisphere.
•North America operating income rose 37% from 2013, primarily due to increased profitability for stimulation activity in
the United States land market.
•Latin America operating income was flat as improved pressure pumping activity in Argentina and increased profitability
for well intervention services in Mexico and Venezuela were offset by reduced completion tools sales and profitability in
Brazil, Mexico and Trinidad.
•Europe/Africa/CIS operating income grew 9% compared to 2013, primarily due to higher completion products sales in
Nigeria, Angola and the United Kingdom, which were partially offset by decreased well completion activity and currency
weakness in Russia and Norway.
•Middle East/Asia operating income rose by 15% primarily due to increased profitability for the majority of our product
services lines in Saudi Arabia, which was partially offset by reduced activity levels in China and Oman.
Drilling and Evaluation
Revenue increased 6% compared to 2013, primarily due to a strong performance in the Eastern Hemisphere, primarily in Saudi
Arabia, which was partially offset by a decrease in drilling activity and consulting services in Latin America.
•North America revenue rose by 6% due to increased fluids activity in the United States land market and higher activity in
the majority of our product service lines in the Gulf of Mexico.
•Latin America revenue decreased 3%, as reduced activity across all of our product service lines in Mexico and a decline in
drilling activity in Brazil more than offset increased activity across all of our product service lines in Venezuela and
Argentina.
•Europe/Africa/CIS revenue was relatively flat as increased testing activity in Angola and Nigeria was offset by decreased
drilling and fluids activity in Egypt and Libya.
•Middle East/Asia revenue rose 18% as a result of increased activity in all of our product services lines in Saudi Arabia and
increased demand for drilling services in Thailand and fluids activity in Australia, India and Iraq.
•Revenue outside of North America was 68% of total segment revenue in both 2014 and 2013.
Operating income decreased 2% compared to 2013, primarily due to lower drilling activity and margins in Latin America and
lower profitability in the Europe/Africa/CIS region. This decrease was partially offset by strong activity growth in the Middle
East/Asia region.
•North America operating income was down 9% from 2013 due to a decline in drilling services in Canada and the United
States land market.
•Latin America operating income declined 29% mainly due to reduced activity levels in Mexico and lower drilling activity
and pricing in Brazil, which were partially offset by improved activity levels in Argentina.
•Europe/Africa/CIS operating income fell 10% primarily due to lower activity and currency weakness in Russia and
Norway.
•Middle East/Asia operating income increased 32% primarily due to an increase in demand and profitability for drilling
activity in Saudi Arabia, as well as improved demand for drilling services in Thailand, which were partially offset by
reduced drilling services and logging activity in China.