Halliburton CEO doubts 2009 recovery for industry

Halliburton CEO doubts 2009 recovery for industry
By BRETT CLANTON Copyright 2009 Houston Chronicle
July 20, 2009, 10:14AM

Halliburton CEO Dave Lesar cast doubt today on prospects for any significant recovery this year in oil and gas activity in North America, as commodity prices remain weak, customers keep spending restrained and natural gas stockpiles hover near record levels.

“Due to the continued weakness in natural gas demand . . . we believe it is unlikely that there will be a meaningful recovery in natural gas prices and, consequently, drilling activity for the remainder of the year,” Dave Lesar said in a statement explaining a nearly 50 percent drop in the company’s second quarter profits.

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Tuscaloosa Trend Sits On Top Of Poorest Neighbourhood For Decades - Yet No Royalties Ever Paid To The Community -- Why??

In researching the decades-old Tuscaloosa Trend and the immense wealth it has generated for many, I find it deeply troubling that this resource-rich formation runs directly beneath one of the poorest communities in North Baton Rouge—near Southern University, Louisiana—yet neither the university ( that I am aware of)  nor local residents appear to have received any compensation for the minerals extracted from their land.

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Posted by Char on May 29, 2025 at 14:42 — 4 Comments

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