About Halliburton

Halliburton Company provides products and services to the energy industry. The company is representing 130 nationalities in more than 70 countries, it helps its customers maximize asset value throughout the lifecycle of the reservoir - from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the asset. Operating segments The company operates under two divisions, which form the basis for the two operating segments it reports, the Completion and Production segment and the Drilling and Evaluation segment. Completion and Production delivers cementing, stimulation, specialty chemicals, intervention, pressure control, artificial lift, and completion products and services. The segment consists of the following product service lines: Artificial Lift: Provides services to maximize reservoir and wellbore recovery by applying lifting technology, intelligent field management solutions, and related services throughout the life of the well, including electrical submersible pumps. Cementing: Involves bonding the well and well casing while isolating fluid zones and maximizing wellbore stability. The company’s cementing product service line also provides casing equipment. Completion Tools: Provides downhole solutions and services to the company’s customers to complete their wells, including well completion products and services, intelligent well completions, liner hanger systems, sand control systems, multilateral systems, and service tools. Multi-Chem: Provides customized specialty chemicals and services for completion, production, midstream, and downstream to optimize flow assurance and integrity. Pipeline & Process Services: Provides a complete range of pre-commissioning, commissioning, maintenance, and decommissioning services to the onshore and offshore pipeline and process plant construction commissioning and maintenance industries. Production Enhancement: Includes stimulation services and sand control services. Stimulation services optimize reservoir production through a variety of pressure pumping services and chemical processes, commonly known as hydraulic fracturing and acidizing. Sand control services include fluids and chemicals for the prevention of sand production of unconsolidated reservoirs. Production Solutions: Provides customized well intervention solutions to increase well performance, which includes coiled tubing, hydraulic workover units, downhole tools, pumping services, and nitrogen services. Drilling and Evaluation provides field and reservoir modeling, drilling, fluids, evaluation and precise wellbore placement solutions that enable customers to model, measure, drill, and optimize their well construction activities. The segment consists of the following product service lines: Baroid: Provides drilling fluid systems, performance additives, completion fluids, solids control, specialized testing equipment, and waste management services for drilling wells, completion, and workover operations. Drill Bits and Services: Provides roller cone bits, fixed cutter bits, hole enlargement and related downhole tools and services used in drilling wells. In addition, coring equipment and services are provided to extract formation cores for rock properties evaluation. Halliburton Project Management: Provides integrated solutions by leveraging the full line of the company’s well construction, well completion, and well intervention services to solve customer challenges throughout the entire well lifecycle, including project management and integrated asset management. Landmark Software and Services: Provides cloud based digital services and artificial intelligence solutions on an open architecture for subsurface insights, integrated well construction, and reservoir and production management. Sperry Drilling: Provides drilling systems and services that offer directional control for precise wellbore placement while providing important measurements about the characteristics of the drill string and geological formations while drilling wells. These services include directional and horizontal drilling, measurement-while-drilling, logging-while-drilling, surface data logging, and rig site information systems. Testing and Subsea: Provides acquisition and analysis of dynamic reservoir information and reservoir optimization solutions through a broad portfolio of well testing tools, data acquisition services, fluid sampling, surface well testing, subsea safety systems, and underbalanced applications. Wireline and Perforating: Provides open-hole logging services that supply information on formation evaluation and reservoir fluid analysis, including formation lithology, rock properties, and reservoir fluid properties. Also offered are cased-hole and slickline services, including perforating, pipe recovery services, through-casing formation evaluation and reservoir monitoring, casing and cement integrity measurements, and well intervention services. Markets The company is one of the world’s largest diversified energy services companies. The company conducts business worldwide in more than 70 countries. The business operations of the company’s divisions are organized around four primary geographic regions: North America, Latin America, Europe/Africa/CIS, and Middle East/Asia. Most of the company’s services and products are marketed through its service and sales organizations. Seasonality The company recognizes revenue on customer software contract sales predominantly in the first and fourth quarters of the year (year ended December 31, 2023). Research and Development The company’s research and development costs are expensed as incurred and were $408 million in 2023. History Halliburton Company was founded in 1919. The company was incorporated under the laws of the state of Delaware in 1924.