HALLIBURTON CO (HAL)

Halliburton Company is one of the world's largest providers of products and services to the energy industry. Its predecessor was established in 1919, and the company was incorporated in Delaware in 1924. It helps oil and natural gas producers maximize asset value across the reservoir lifecycle, from locating hydrocarbons and managing geological data to drilling, formation evaluation, well construction and completion, and production optimization. The company reports over 46,000 employees representing 146 nationalities. Its strategy emphasizes international growth, digital and automation technologies, capital efficiency (capital expenditures of about $1.1 billion), returning over 50% of annual free cash flow to shareholders, and lowering emissions intensity, including through Halliburton Labs and its Zeus electric fracturing pumps.

Halliburton operates two segments. Completion and Production delivers cementing, stimulation, specialty chemicals, intervention, pressure control, artificial lift and completion products and services. Its product service lines are Artificial Lift, Cementing, Completion Tools, Multi-Chem, Pipeline & Process Services, Production Enhancement and Production Solutions. The company plans to sell a portion of its chemical business, with completion expected in the first half of 2026. Drilling and Evaluation provides field and reservoir modeling, drilling, fluids, evaluation and wellbore placement solutions. Its lines are Baroid (drilling fluids), Drill Bits and Services, Halliburton Project Management, Landmark Software and Services (cloud-based digital and AI solutions), Sperry Drilling (directional drilling and measurement- and logging-while-drilling), Testing and Subsea, and Wireline and Perforating. In 2025, total revenue decreased 3% from 2024, with International down 2% and North America down 6%. The two segments finished the year with operating margins of 17% and 15%, respectively. The company generated $2.9 billion of operating cash flow and returned $1.6 billion to shareholders.

Customers are the world's major, national and independent oil and natural gas producers. Halliburton does business in more than 70 countries, organized around four regions: North America, Latin America, Europe/Africa/CIS, and Middle East/Asia. The United States accounted for 39% of consolidated revenue in 2025, 40% in 2024 and 44% in 2023, and no other country exceeded 10% in those years.

Most services and products are marketed through the company's own service and sales organizations. Halliburton describes its markets as highly competitive, with many substantial competitors, too numerous to estimate. Competitive factors include price, service delivery, health, safety and environmental practices, service and product quality, talent retention, understanding of reservoir geology, and technical proficiency. The text does not state headquarters, supplier or manufacturing details.