Halliburton

Halliburton is a United States-incorporated multinational energy-services company serving oil and gas operators, national oil companies, and other energy producers. Founded in 1919 by Erle P. Halliburton as the New Method Oil Well Cementing Company, it built its early reputation around cementing wells and developing equipment that made cement placement more accurate and reliable. The company expanded from the American oil fields into international markets during the 1920s through the 1950s, establishing operations and subsidiaries across Latin America, Europe, the Middle East, and Asia. Its historical business has been concentrated in the technical services required to drill, complete, stimulate, and produce wells. These activities include directional drilling, drilling fluids, formation evaluation, well cementing, hydraulic fracturing, perforating, well intervention, pressure control, artificial lift, production optimization, and digital technologies. Halliburton’s principal operating organization has traditionally been its Energy Services Group, supported by businesses involved in formation evaluation, drilling and evaluation, well construction, completion tools, production enhancement, fluid systems, and digital and consulting services. Halliburton grew through both internal research and acquisitions. Important additions included Welex, Otis Engineering, Gearhart Industries, and Dresser Industries. The 1998 Dresser transaction brought the Kellogg and Brown & Root businesses into the Halliburton group. Brown & Root and Kellogg Brown & Root, commonly known as KBR, were involved in engineering, construction, logistics, and government-support work. KBR’s asbestos liabilities, project losses, and bankruptcy proceedings created substantial financial and strategic pressure in the early 2000s. KBR later became a separately listed company in 2007, separating much of that engineering and government-services exposure from Halliburton’s core oilfield-services operations. The company has also been a prominent participant in hydraulic fracturing and unconventional oil and gas development. Its stimulation technologies and field services have been used in shale and other low-permeability formations, making Halliburton a major supplier to North American and international producers. At the same time, hydraulic-fracturing chemicals, environmental disclosure, emissions, waste, and water use have generated criticism from regulators, communities, and environmental organizations. Halliburton’s public profile has been shaped by controversies as well as technical achievements. These include scrutiny of former chief executive Dick Cheney’s later role as United States vice president, contracts connected with military and reconstruction operations in Iraq, allegations concerning foreign bribery and sanctions compliance, whistleblower-retaliation litigation, and the Deepwater Horizon disaster. In connection with Deepwater Horizon, Halliburton agreed to pay approximately $1.1 billion to settle outstanding legal claims, according to the referenced account. The company has consistently characterized itself as a service provider operating under customer instructions and contractual responsibilities, while accepting legal and financial consequences in specific proceedings. Halliburton remains an active, internationally operating oilfield-services company. Its modern positioning combines large-scale field execution with proprietary tools, subsurface expertise, completion technologies, production enhancement, and software-enabled workflows. The company is incorporated in the United States and maintains major corporate centers in Houston and Dubai.

Halliburton began in 1919 when Erle P. Halliburton established the New Method Oil Well Cementing Company. Its initial specialization was cementing, a process used to secure casing and isolate water in oil wells. Early technical developments included a cement jet mixer and a measuring line intended to improve placement accuracy. In 1920 the company helped control a gas well near Wilson, Oklahoma, and by 1922 it had cemented hundreds of wells during the Mexia, Texas, oil boom. The company was incorporated in Delaware in 1924. Its first international business came in the mid-1920s through equipment sales to Burma and India. During the 1930s and 1940s Halliburton continued expanding its cementing capabilities, including offshore work. It cemented an offshore well from a barge off Louisiana in 1938, opened a Venezuelan office in 1940, and placed its first marine cementing vessel into service in 1947. International expansion accelerated after the Second World War. Halliburton established European and Latin American subsidiaries and developed service centers in Canada, Venezuela, Peru, Colombia, Saudi Arabia, and Indonesia. In 1951 it entered Europe through Halliburton Italiana. The company also broadened its technical portfolio through acquisitions, including Welex in 1957 and Otis Engineering in 1959. These transactions added perforating, pressure-control, and related well-service capabilities. In 1961 the company adopted the Halliburton Company name. During the 1960s and 1970s it invested in manufacturing, research, computer systems, drilling-fluid automation, offshore operations, and well-logging technologies. Gearhart Industries, acquired in 1989, strengthened logging and perforating. Halliburton also became involved in large international projects and developed experience in difficult offshore and frontier environments. A major strategic turning point came with the 1998 merger with Dresser Industries. Dresser brought the Kellogg business and contributed to the formation of Kellogg Brown & Root, or KBR, through combination with Halliburton’s Brown & Root subsidiary. The expanded group participated in engineering, construction, logistics, military support, and government contracts, while Halliburton continued building its oilfield-services portfolio. The early 2000s brought significant difficulties. Asbestos litigation associated with the Kellogg acquisition and losses connected with the Barracuda Caratinga floating production project produced large charges. KBR entered Chapter 11 proceedings and later reached a settlement that enabled it to exit bankruptcy. KBR was ultimately separated from Halliburton and became independently listed in 2007. Halliburton’s political and regulatory profile also intensified during this period. Former chairman and chief executive Dick Cheney became United States vice president, leading to continuing scrutiny of the company’s government contracts and Iraq-related work. Halliburton and its subsidiaries faced criticism over contracts for military logistics, oil-well firefighting, and reconstruction. The company also faced sanctions-related questions concerning Iran, Iraq, and Libya, as well as a disclosed Nigerian payment involving KBR. In the 2010s Halliburton remained one of the largest global oilfield-service providers and a major participant in hydraulic fracturing. The Deepwater Horizon blowout and oil spill generated severe criticism of BP, Transocean, and Halliburton. Halliburton’s role included cementing services on the well; the company disputed broader responsibility while eventually agreeing to a substantial legal settlement. The company also faced environmental criticism over disclosure of chemicals used in hydraulic fracturing and legal scrutiny over whistleblower retaliation. Jeff Miller became president in 2014 and chief executive in 2017, succeeding Dave Lesar. Halliburton continues to operate internationally, providing integrated solutions spanning drilling, evaluation, well construction, completion, stimulation, production enhancement, and digital services.

1. 2017Jeff Miller becomes chief executive

   Jeff Miller became chief executive officer, succeeding Dave Lesar.

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2. 2014Jeff Miller becomes president

   Jeff Miller was promoted to president of Halliburton.

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3. 2007KBR separation

   KBR became a separately listed company.

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4. 2005KBR exits Chapter 11

   A settlement allowed KBR to emerge from bankruptcy proceedings related chiefly to asbestos liabilities and project losses.

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5. 1998Dresser Industries merger

   Halliburton merged with Dresser Industries, bringing Kellogg-related activities into the group.

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6. 1989Gearhart Industries acquired

   The acquisition strengthened Halliburton’s logging and perforating activities.

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7. 1961Name changed to Halliburton Company

   The company formally adopted the Halliburton Company name.

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8. 1947Marine cementing vessel enters service

   The company placed its first marine cementing vessel into operation.

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9. 1938First offshore cementing operation

   Halliburton cemented an offshore well from a barge off the Louisiana coast.

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10. 1924Delaware incorporation

    The company was incorporated in Delaware as it expanded its early cementing business.

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11. 1919Company founded

    Erle P. Halliburton founded the New Method Oil Well Cementing Company, the predecessor of Halliburton.

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A technology-intensive, globally scaled oilfield-services provider focused on improving well construction, completion, stimulation, and hydrocarbon production.

• Drilling and evaluationOilfield services

  Services and technologies used to plan and execute wellbores, including directional drilling, measurement while drilling, logging, formation evaluation, and related subsurface interpretation. These offerings help operators steer wells, characterize formations, and make completion and production decisions.

• Well cementingWell construction1919

  Cementing systems and field services used to secure casing, isolate formations, protect well integrity, and manage pressure. Cementing was Halliburton’s founding specialty and remains a central part of its well-construction portfolio.

• Hydraulic fracturing and stimulationProduction enhancement

  Pumping, fluid, proppant, and engineering services designed to improve flow from conventional and unconventional reservoirs. Halliburton is a major supplier to shale development and other low-permeability production projects.

• Completion toolsCompletions

  Downhole tools and systems used to complete wells after drilling, including tools for zonal isolation, well control, stimulation, and production access. The portfolio supports both conventional and complex multistage completions.

• Production optimizationProduction services

  Technologies and services intended to increase recovery, manage artificial lift, address well-performance problems, and improve the reliability and economics of producing assets.

• Digital and consulting servicesEnergy software

  Software, data, automation, and advisory capabilities that support subsurface interpretation, drilling workflows, asset management, operational decision-making, and production performance.

• 1975Clean Gulf Associates collaboration

  United States Gulf Coast

  Halliburton worked with the nonprofit Clean Gulf Associates in response to environmental concerns and oil-spill containment and cleanup needs.

  Outcome. Expanded the company’s stated environmental-response capabilities.

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• 2017Jeff Miller appointed chief executiveOther

  Halliburton changed leadership after Dave Lesar’s tenure as chief executive.

  What changed. Jeff Miller, who had become president in 2014, became chief executive officer.

  Aftermath. The company continued emphasizing integrated oilfield services, technology, and international operations.

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• 2007Separate KBR from HalliburtonStrategy

  KBR’s engineering, construction, logistics, and government-services activities had created liabilities and risk distinct from Halliburton’s oilfield-services core.

  What changed. KBR was separated and became a separately listed company.

  Aftermath. Halliburton concentrated more clearly on oilfield products and services, while KBR operated as an independent company.

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• 1998Merge with Dresser IndustriesM&A

  Halliburton sought to broaden its industrial, engineering, construction, and energy-services capabilities.

  What changed. The company merged with Dresser Industries, bringing Kellogg into the enlarged group and contributing to the formation of KBR.

  Aftermath. The transaction increased diversification but also exposed Halliburton to asbestos litigation and major project losses associated with KBR.

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• 2015Whistleblower retaliation caseControversy

  A court found Halliburton guilty of illegal retaliation against a whistleblower who had raised concerns with the SEC about alleged concealment of billions of dollars.

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• 2010Deepwater Horizon liability and criticismControversy

  Halliburton was criticized for its role as a cementing contractor in the Deepwater Horizon disaster and later agreed to a settlement of outstanding legal claims for approximately $1.1 billion.

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• 2003Nigerian tax-treatment bribery disclosureControversy

  Halliburton disclosed that its KBR subsidiary had paid a Nigerian official to obtain favorable tax treatment, leading to substantial regulatory scrutiny.

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• Hydraulic-fracturing chemical transparency criticismControversy

  The company was criticized for resisting requests from the United States Environmental Protection Agency for greater transparency concerning chemicals used in hydraulic fracturing.

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• 2016Halliburton terminates proposed acquisition of Baker Hughes

  Halliburton ended its proposed combination with Baker Hughes after prolonged regulatory opposition, illustrating the antitrust barriers facing consolidation among the largest oilfield-services companies.

  M&ARegulation
• 2007KBR becomes separately listed company

  KBR, the former Halliburton engineering and government-services business, became a separately listed company.

  M&A
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• 2007Halliburton announces withdrawal from Iran

  After scrutiny of its Tehran operations and possible sanctions issues, Halliburton announced that it would withdraw from Iran.

  Regulation
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1. Halliburton
2. Halliburton official website
3. Halliburton acquires Baker Hughes in announced transaction, later terminated
4. Halliburton reports major Gulf of Mexico environmental settlement
5. Halliburton reaches settlement with the United States concerning Iraq-related allegations