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- Drillers don’t name which customer owes $1 billion-plus
- State-producer Pemex has more than $100 billion in debt
David Wethe, Bloomberg News
HOUSTON
EnergiesNet.com 04 28 2023
SLB and Halliburton Co., two of the biggest oil field contractors, warned investors that the magnitude of unpaid work in Mexico has grown over the past three months.
SLB had $1.2 billion of so-called receivables related to Mexico at the end of last month, the company said Wednesday in a federal filing. That’s up 20% from the end of last year. Over the same period, Halliburton said in separate filing that unpaid bills from its unnamed “primary customer” in Mexico has expanded to represent a larger piece of its overall collections.
Both companies say that the amounts owed to them are not in dispute and have not had any material write-offs related to their top client in the country.
Oil production in Mexico has declined as state producer Petroleos Mexicanos, has seen output fall almost every year for more than a decade. Meanwhile its debt soared to $107.7 billion by the end of last year.
Read more: Months of Unpaid Bills in Mexico Oil Patch Add to Pemex Woes
— With Amy Stillman
bloomberg.com 04 26 2023
