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Halliburton Meets Street Forecasts, Sees Nat Gas Drilling Up


Halliburton shares are moving higher on Monday after the oilfield services company says natural gas drilling in the U.S. is increasing as prices of nat gas have started moving higher. Halliburton earned $0.91 a share, in line with forecasts and up 20% from the same period a year ago. On the top line, Halliburton posted revenue of $8.05 billion, better than expectations and up 10% from the year ago period. Halliburton also announced that it raised its share buyback program to $6 billion from $5 billion. On the management front, the company said it would move the role of president to COO Jeff Miller from CEO David Lesar on August first. TheStreet's Ruben Ramirez reports from New York.