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Halliburton (HAL) is a U.S. multinational company that provides products and solutions for the energy industry. Founded in 1919, it serves clients that explore, develop and produce oil and natural gas throughout the lifecycle of a reservoir.
Halliburton’s structure includes 14 product service lines (PSLs) operating in two divisions: Drilling & Evaluation, and Completion & Production. The PSLs are responsible for strategy, technology development, process development, people development and capital allocation. A Consulting & Project Management PSL supports the two divisions and spearheads the company’s integrated services strategy.
Halliburton says its mission is: “To achieve superior growth and returns for our shareholders by delivering technology and services that improve efficiency, increase recovery, and maximise production for our customers.”
Jeff Miller has been President and Chief Executive Officer of Halliburton since June 2017. David J. Lesar is Executive Chairman, based in Dubai, and Christopher T. Weber is Executive Vice President and Chief Financial Officer.
The Halliburton Oil Well Cementing Company was founded by Erle P. Halliburton and incorporated in 1924. By 1946, the company had expanded into Colombia, Ecuador, Peru and the Middle East; this was followed by operations in Europe in the 1950s. In 1961 it changed its name to the Halliburton Company.
International expansion continued apace, and in 1986 Halliburton became the first American company to perform an oilfield service job in mainland China. Then in 1991 it opened a branch office in Moscow. Halliburton realigned its work into Eastern and Western Hemisphere operations in 2006, and introduced its current two divisions the following year.
Halliburton performed well in 2017. In its full year results, the company reported total revenue of $20.6 billion, an increase of 30% from 2016. Reported operating income for 2017 was $1.4 billion, against a reported operating loss of $6.8 billion for 2016. Excluding special items, adjusted operating income for 2017 was $2.0 billion, a big improvement on the 2016 figure of $690 million.
President and CEO Jeff Miller said: “I am optimistic about what I see in 2018. Commodity prices are supportive of increasing activity in North America and I am encouraged by the increase in tender activity and the positive discussions we are having with our international customers.”
The Halliburton share price has proved rather volatile in recent years, suffering some sharp drops in Q4 2008, Q3 2011 and Q4 2014. After hitting an all-time high of over $73 in July 2014, the shares retreated and spent the next three years in a band between $30 and $60. They ended March 2018 at around $46. To find out how the shares are doing right now, follow Capital.com. Our HAL chart puts all the information at your fingertips.
Halliburton has dual headquarters in Houston and Dubai, and is incorporated in the United States. The company employs about 50,000 peopleand serves national and independent oil and natural gas companies in more than 70 countries around the world. It has major international offices in Canada, Mexico, Brazil, France, Germany, the U.K., Russia, China, India, Japan and Australia.
Halliburton’s shares are traded on the New York Stock Exchange (NYSE), and they are constituents of both the S&P 100 and S&P 500 indices. Check out Capital.com for the latest HAL chart. We’ll keep you up to date and in the picture.
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