Epstein Secrets

PS above consensus to $4.00/$5.20, with an additional $0.15/$0.35 in EPS upside from share buybacks. Our detailed note begins on Page 2. • With the North America market tightening, HAL is starting to push pricing...will they put Tier 2 players in their place with new capacity? With only 10-12% excess industr

J.P. Morgan Halliburton Few Holes in a Story That Keeps Getting Better We spent last week on the road in Europe with CFO Mark McCollum, which reinforced our view that the

a Story That Keeps Getting Better We spent last week on the road in Europe with CFO Mark McCollum, which reinforced our view that the bull case on Halliburton continues to strongly outweigh any of the bear arguments, of which there are few. With the North American pressure pumping market tightening, HAL i

above cost of capital, capacity should be built and market share should be gained. But looking more broadly at the market, would it be prudent for Halliburton to seek to drive the smaller players out by adding capacity and putting pressure on their returns? The risk is if it backfires because the Tier 2 pl

inancial ■ Government ■ Energy ■ Basic Materials ■ Communications ■ Consumer, Non-cyclical ■ Industrial ■ Utilities Regions • ■ EI/1O11P ■ North America ■ Emerging Markets ■ Other 2 EFTA00615045 Cash Position ( in 000' USD) Bank CCY Original CCY USD HSBC USD 162,052 162,052 HSBC-LIQUI-

45,505 (14,949) 0.87% Raiffeisen Intl Bank Holding 33,878 12,814 10,383 (2,431) 0.20% Schlumberger 30,007 35,601 31,046 (4,555) 0.59% Halliburton 29,963 41,278 33,634 (7,645) 0.64% E.ON 29,866 18,992 13,998 (4,994) 0.27% Exxon Mobil 29,659 28,132 23,969 (4,162) 0.46% ICICI Ban

ecreation and commercial industries and could reverse strides in water quality that sustain fishing, boating and crabbing in the largest estuary in North America. Almost unnoticed is the Trump spending reductions that explicitly target rural communities include a water and wastewater loan and grant program a

e with that. George W. Bush and his presidential cabinet had deep ties to different oil companies: Vice-President Cheney was the chief executive of Halliburton, Condoleeza Rice was a director of Chevron. In addition, Big Oil spends more on lobbying than any other group: nearly $15o million in 2010. After t

other: By contrast, the cost of living in the U.S. is cheaper than at least 20 other countries, including Canada, Australia and the U.K. Here's how North America looks: 12 EFTA_R1_01325995 EFTA02349609 Movehub created the maps using data from Numbeo,=a website that crowd sources the prices of consumer goo

oxic chemicals to zero. W= need to do away with the Halliburton Loophole, which was created in 2005 under Vice President Dick Cheney (fo=mer CEO of Halliburton), completely exempted the natural gas industry..99s fracking technology from any regulation under The Safe Drinking Water Act. Thi= should be an out

that COG plans were implemented on that day. This is a huge change in our country. We now have an ARMY command, NORTHCOM, to take charge of America - North America, the way SOUTHCOM is in charge of South America and CENTCOM is in charge of Central Asia. This used to be illegal... We had the posse comitatus acts

t of the below, no? (How lovely, by the way, this following information and the ways in which it helps us understand many of the hidden influences: "Halliburton is also involved with the Russian mob. They're got sort of two things going on. One is oil and the other is drug trafficking. Halliburton is a story

that COG plans were implemented on that day. This is a huge change in our country. We now have an ARMY command, NORTHCOM, to take charge of America - North America, the way SOUTHCOM is in charge of South America and CENTCOM is in charge of Central Asia. This used to be illegal... We had the posse comitatus acts

t of the below, no? (How lovely, by the way, this following information and the ways in which it helps us understand many of the hidden influences: "Halliburton is also involved with the Russian mob. They're got sort of two things going on. One is oil and the other is drug trafficking. Halliburton is a story

that COG plans were implemented on that day. This is a huge change in our country. We now have an ARMY command, NORTHCOM, to take charge of America - North America, the way SOUTHCOM is in charge of South America and CENTCOM is in charge of Central Asia. HOUSE_OVERSIGHT_017591 --- PAGE BREAK --- This used to b

t of the below, no? (How lovely, by the way, this following information and the ways in which it helps us understand many of the hidden influences: "Halliburton is also involved with the Russian mob. They're got sort of two things going on. One is oil and the other is drug trafficking. Halliburton is a story