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Analyst
Derek Podhaizer
Period: Reporting periods mapped to calendar 2025 Q1 – 2026 Q2 (6 quarters; questions recorded in 5).
- Questions
- 11on tracked calls
- Challenge rate
- 0%none of 11 questions
- Companies
- 2questioned at least once
- Reporting periods
- 5with questions
These figures cover the whole profile: every tracked question, all reporting periods.
How to read these numbers
Challenge rate is the share of questions that pushed back, pressed for specifics or questioned management’s assumptions. It describes how questions were asked on the calls tracked here; it does not measure whether any view turned out to be right.
Rounding. Rates are rounded to whole percentages, so a small share can show as 0% even when some questions were challenging. The count beside each rate is exact; “none of N questions” means no question was challenging.
No questions recorded. “—” means there is nothing to calculate: no questions were recorded for that period on the calls tracked here. It does not mean there was no activity.
Fewer than 3 questions. A company-level rate is withheld when fewer than 3 questions were recorded for that company; the questions are still counted everywhere else.
Small samples. Profiles with fewer than 10 questions are marked Limited sample.
Reporting periods. Questions are grouped by the calendar quarter each company’s fiscal reporting period maps to, not by the date of the call. Periods without a calendar mapping are listed separately under their fiscal label.
Questions asked
Grouped by company, most questions first. Open a company to read its questions, newest reporting period first.
Showing 11 of 11 questions from 2 companies
HALHalliburton9 questions · 5 reporting periods · 0 of 9 challenging
Calendar 2026 Q2
some more color on what you are seeing activity wise impacting your U. S. Land frac revenue
Show response
Slocum said Q2 white space was absorbed and Q3 looks the same, with over 30 rigs being added in North America raising the activity bar; pricing is a steady march.
Calendar 2025 Q4
Can you just maybe walk through some of the regions for us
Show response
Miller characterized most markets as fairly stable. UAE and Kuwait highlighted as strong. Iraq as positive with upcoming activity. Cautious on Saudi timing despite rigs being added.
is everything deployed that could be, or are there a few fleets that could be thrown together
Show response
Miller confirmed fleet stacking in Q3 and Q4, available for reactivation at right pricing. Cited competitors running 120K HP vs HAL's 65K HP on simulfrac as evidence of industry attrition. Market can tighten quickly.
Calendar 2025 Q3
How should that flip to a tailwind in fourth quarter? And then maybe some early indications around 2026 free cash flow expectations
Show response
Carre maintained $1.7B FY FCF target. Q4 typically strongest for collections. For 2026: $400M cost savings + $400M lower CapEx = $800M additional liquidity. May take conservative approach on buybacks given macro uncertainty.
How significant could this accelerated attrition really be for the market and create a better setup from a supply and demand perspective for 2026
Show response
Miller declined to quantify idled fleets. Reframed around attrition mechanics, competitors running 100-120K HP on simul-frac vs HAL's disciplined 65K HP, effectively accelerating equipment wear. Market doesn't need much recovery to create real tightness.
Calendar 2025 Q2
you talked about Mexico being a source of strength here in the quarter, with [ LatAm ] up 9%
Show response
Miller corrected that LatAm improvement was not Mexico-driven. Mexico issues remain unsettled with starts and stops expected. Kuwait characterized as solid market with expected growth despite quarterly bouncing.
Can you maybe walk through the puts and takes in each region there? Are you seeing tariffs maybe bite into the U.S. land artificial lift market
Show response
Miller clarified international lift demand is driven by conventional well production acceleration, not unconventionals. Carre confirmed artificial lift is largest tariff component, supply chain rewiring underway.
Calendar 2025 Q1
Maybe just if you could expand on how your conversations have progressed over the last three months. Just trying to think about the equipment market to service those areas
Show response
Miller confirmed positive gas market outlook driven by structural power and LNG demand. Noted more inbounds from gas operators than in some time. Declined to pick specific inflection date.
if you could spend some time talking to us about Halliburton's position attacking this offshore cycle versus prior offshore cycle
Show response
Miller emphasized HAL is technically in much better position than any prior offshore cycle. Cited integrated offshore exploration wins and deepwater alignment as key differentiators.
SLBSchlumberger2 questions · 1 reporting period · 0 of 2 challenging
Calendar 2026 Q2
just thinking about this margin momentum as you head into 2027 off that 24% EBITDA margin
Show response
CFO walked through OneSubsea recovery, ChampionX synergy-driven margin gains despite chemical inflation, and flat well construction margins.
Maybe if you could talk to us about some of your recent wins and really the primary drivers behind that growth
Show response
CEO named the platform stack and adoption drivers but pointed back to the digital investor day rather than detailing specific contract wins.
Challenge rate by company
Every company this analyst questioned, most questions first. A company-level rate is shown from 3 questions; below that it is withheld.
| Company | Questions | Challenge rate |
|---|---|---|
| HAL Halliburton | 9 | 0%none of 9 questions |
| SLB Schlumberger | 2 | —Rate withheld: fewer than 3 questions |
Activity by reporting period
Questions recorded for each calendar quarter that companies’ reporting periods map to (not the call date), with the challenge rate for that period. Periods inside the range with no questions are shown as “No questions recorded”.
| Calendar period | Questions | Challenge rate | Companies |
|---|---|---|---|
| 2025 Q1 | 2 | 0%none of 2 questions | 1 |
| 2025 Q2 | 2 | 0%none of 2 questions | 1 |
| 2025 Q3 | 2 | 0%none of 2 questions | 1 |
| 2025 Q4 | 2 | 0%none of 2 questions | 1 |
| 2026 Q1 | No questions recorded | — | — |
| 2026 Q2 | 3 | 0%none of 3 questions | 2 |
- 2025 Q12 questions · challenge rate 0% (none of 2 questions) · 1 company
- 2025 Q22 questions · challenge rate 0% (none of 2 questions) · 1 company
- 2025 Q32 questions · challenge rate 0% (none of 2 questions) · 1 company
- 2025 Q42 questions · challenge rate 0% (none of 2 questions) · 1 company
- 2026 Q1No questions recorded
- 2026 Q23 questions · challenge rate 0% (none of 3 questions) · 2 companies
Topics
Topics tagged on this analyst’s questions.
- Demand7
- Competitive Dynamics4
- Geographic Expansion4
- Cloud & AI2
- Innovation & R&D2
- Pricing1
- Margin1
- Guidance Reliability1
- Revenue Growth1
- Capital Allocation1
Show all 12 topics
- Trade Tariffs1
- Macroeconomic1