Halliburton

For other uses, see Haliburton (disambiguation).

Halliburton Company
Company typePublic
IndustryFossil fuel
Founded1919; 105 years ago (1919), in Duncan, Oklahoma, U.S.
FounderErle P. Halliburton
HeadquartersHouston, Texas and Dubai UAE
Area served
Worldwide
Key people
Jeff Miller (president, CEO and chairman of the board)
RevenueIncrease US$23.02 billion (2023)
Increase US$4.083 billion (2023)
Increase US$2.662 billion (2023)
Total assetsIncrease US$24.68 billion (2023)
Total equityIncrease US$9.433 billion (2023)
Number of employees
48,000 (2023)
Websitehalliburton.com
Footnotes / references
[1][2][3][4][5]

Halliburton Company is an American multinational corporation and the world's second largest oil service company which is responsible for most of the world's largest fracking operations.[6] It employs approximately 55,000 people through its hundreds of subsidiaries, affiliates, branches, brands, and divisions in more than 70 countries.[7][8] The company, though incorporated in the United States, has dual headquarters located in Houston and in Dubai.[9][10][11]

Halliburton's major business segment is the Energy Services Group (ESG). KBR, a public company and former Halliburton subsidiary, is a major construction company of refineries, oil fields, pipelines, and chemical plants. Halliburton announced on April 5, 2007, that it had sold the division and severed its corporate relationship with KBR, which had been its contracting, engineering and construction unit as a part of the company.[12]

The company has been criticized for its involvement in numerous controversies, including its involvement with Dick Cheney – as U.S. Secretary of Defense, then CEO of the company, then Vice President of the United States – and the Iraq War, and the Deepwater Horizon, for which it agreed to settle outstanding legal claims against it by paying litigants $1.1 billion.

KBR, one of Halliburton's subsidiaries at the time, paid bribes to high-ranking Nigerian officials between 1994 and 2004. Under a deal reached with the U.S. Justice Department, Halliburton has agreed to pay $382 million to settle the bribery case.[13]

In 2015, Halliburton was found guilty in court for illegal retaliation against a whistleblower who filed a report with the SEC over concerns that the company was illegally concealing billions of dollars.[14][15]

The company has also been criticized for refusing to comply with EPA requests for transparency around chemicals it uses in hydraulic fracturing.[16]

Jeff Miller was promoted to President of Halliburton on August 1, 2014, and CEO on June 1, 2017, replacing Dave Lesar.[17]

  1. ^ Manufacturing Today Archived May 24, 2013, at the Wayback Machine
  2. ^ "Company Profile for Halliburton Co (HAL)". Archived from the original on January 13, 2009. Retrieved October 6, 2008.
  3. ^ "Encyclopedia of Oklahoma History & Culture". Digital.library.okstate.edu. Archived from the original on October 18, 2010. Retrieved December 19, 2010.
  4. ^ "Halliburton CEO to retire next month, be replaced by Jeff Miller". Channel NewsAsia. Archived from the original on May 21, 2017. Retrieved May 28, 2017.
  5. ^ "Halliburton Company 2023 Annual Report (Form 10-K)". sec.gov. U.S. Securities and Exchange Commission. February 6, 2024.
  6. ^ "Fracking Is Going Electric and Not Everyone Is Impressed". Bloomberg.com. October 6, 2021. Retrieved March 28, 2022.
  7. ^ "Top 10 largest oilfield services companies". PRLog. Archived from the original on May 4, 2012. Retrieved April 13, 2010.
  8. ^ "Halliburton". Fortune. Archived from the original on November 21, 2018. Retrieved November 20, 2018.
  9. ^ "Halliburton to Move Headquarters to Dubai" Archived December 15, 2017, at the Wayback Machine – All Things Considered – NPR – March 12, 2007
  10. ^ Steffy, Loren. "Halliburton heralds Houston's hereafter" Archived January 14, 2009, at the Wayback Machine – Houston Chronicle – March 14, 2007
  11. ^ Steffy, Loren. "Sound Off: Halliburton's Dubai kiss" - Houston Chronicle - March 14, 2007 Archived October 9, 2007, at the Wayback Machine
  12. ^ "Halliburton Completes Separation of KBR"- 2007 Press Releases - Halliburton.com - April 5, 2007 Archived August 29, 2007, at the Wayback Machine
  13. ^ Baltimore, Chris (February 11, 2009). "KBR pleads guilty in Nigerian bribery case". Reuters. Houston, Tx. Archived from the original on May 10, 2018. Retrieved May 10, 2018.
  14. ^ Cite error: The named reference :3 was invoked but never defined (see the help page).
  15. ^ "Questionable Accounting of Halliburton, Inc". www.documentcloud.org. Retrieved March 29, 2022.
  16. ^ Baca, Marie C. (November 16, 2010). "Halliburton's Stonewalling Works in Pa., but Sparks Subpoena at EPA". ProPublica. Retrieved March 28, 2022.
  17. ^ Berman, Nat (November 2018). "10 Things You Didn't Know About Halliburton CEO Jeff Miller" Moneyinc.com. Retrieved February 2, 2019.