Halliburton CEO expects Permian bottlenecks gone by end of 2019

By David Wethe and Alix Steel on 11/5/2018

HOUSTON and NEW YORK (Bloomberg) -- Halliburton expects bottlenecks in America’s busiest oil field to be relieved by the end of next year.

A series of catalysts will drive drilling and fracking activity in the Permian basin of West Texas and New Mexico throughout the next year, Jeff Miller, CEO of the world’s biggest fracer, said during a Bloomberg TV interview on Monday. Explorers’ budgets will reload as the calendar flips to next year, and a host of new pipelines will open in the second half of 2019 to create more takeaway capacity.

“It will be a series of events throughout 2019 that occur,” Miller said. “But it’d be easy to see, as we finish the year, things being perfectly normal.”

It was a slightly nuanced comment from Miller, who said last month that he was trying to stay “less prescriptive on the timing of those catalysts."

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