New York-listed Halliburton’s stock price increased by more than 2.5% to $35.30 at the close of play on Tuesday after its top executive painted a positive picture for investors during the company’s fourth-quarter conference call.

There had been concerns that the challenging North American onshore market could dent Halliburton’s fortunes this year, but these appeared to have been allayed by chief executive Jeff Miller, who went into unusual detail about why ongoing electrification of the company fraccing fleet (eFrac) is improving its resilience to a very cyclical business, and how its electric-powered Zeus pressure pumping fleet is gaining market traction.