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Douglas Lee Becker

Managing Director and Senior Equity Research Analyst at Capital One Securities

Douglas Lee Becker is a Managing Director and Senior Equity Research Analyst at Capital One Securities, specializing in the Basic Materials sector with a focus on oilfield services and energy companies. He covers key companies such as SLB (Schlumberger), Halliburton (HAL), GTLS (Chart Industries), Transocean (RIG), Valaris (VAL), Weatherford International, and Borr Drilling, and has delivered a recommendation success rate of 57% with an average return of 23.8%, highlighted by a standout buy call on TH yielding 257.2%. Becker began his equity research career in the early 2000s and has been a prominent voice at Capital One Securities for over a decade, frequently cited in earnings calls and industry analysis. He holds professional credentials with securities licenses registered through FINRA and is recognized for his in-depth industry knowledge and well-performing investment recommendations.

Douglas Lee Becker's questions to HALLIBURTON (HAL) leadership

Douglas Lee Becker's questions to HALLIBURTON (HAL) leadership • Q3 2025

Question

Douglas Lee Becker inquired about the progress of Halliburton's international growth engines (production services, artificial lift, unconventionals, and drilling) relative to their $2.5-$3 billion annual revenue target, and sought Halliburton's outlook for Brazil following a recent completion and stimulation contract and discussions with Petrobras on cost reduction.

Answer

Jeffrey Miller, Chairman, President, and CEO, confirmed the growth engines are 'on track,' citing significant contract wins and technology advancements across all segments, including the Optyme acquisition and eROX traction. He expressed a 'super positive' outlook for Brazil, highlighting Halliburton's strong position with IOCs and Petrobras, ongoing technology development for the deepwater market, and expected growth in execution and technology uptake.

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