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Halliburton Company is one of the world's largest providers of products and services to the energy industry, operating in more than 70 countries. The company is organized into two main operating segments: Completion and Production, and Drilling and Evaluation. Halliburton offers a wide range of services and products, including cementing, stimulation, specialty chemicals, field and reservoir modeling, and precise wellbore placement solutions . In 2023, the Completion and Production segment significantly contributed to the company's revenue, with a reported increase of 18% compared to the previous year, while the Drilling and Evaluation segment saw a 7% increase in revenue . The company also focuses on sustainability and energy mix transition, aiming to reduce emissions and support clean energy initiatives .
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Completion and Production - Provides services such as cementing, stimulation, specialty chemicals, intervention, pressure control, artificial lift, and completion products.
- Artificial Lift - Enhances oil recovery by lifting fluids from the well.
- Cementing - Secures and supports well casings and provides zonal isolation.
- Completion Tools - Offers tools and equipment for well completion.
- Multi-Chem - Supplies specialty chemicals for various oilfield applications.
- Pipeline & Process Services - Delivers pipeline cleaning, testing, and maintenance services.
- Production Enhancement - Improves well productivity through stimulation and other techniques.
- Production Solutions - Provides customized solutions to optimize production.
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Drilling and Evaluation - Offers field and reservoir modeling, drilling, fluids, evaluation, and precise wellbore placement solutions.
- Baroid - Supplies drilling fluid systems and services.
- Drill Bits and Services - Designs and manufactures drill bits for various drilling applications.
- Halliburton Project Management - Manages complex oil and gas projects.
- Landmark Software and Services - Provides software solutions for reservoir management and decision-making.
- Sperry Drilling - Offers directional drilling and measurement-while-drilling services.
- Testing and Subsea - Conducts well testing and provides subsea solutions.
- Wireline and Perforating - Delivers wireline logging and perforating services for well evaluation and completion.
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Despite your guidance of international growth in the low to mid-single digits next year, how do you plan to accelerate growth beyond market rates to meet investor expectations, especially after acknowledging that full-year revenue growth will be below prior guidance?
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Given the 9% year-over-year decline in North America revenue and a full-year revenue decline expected at the low end of prior guidance, what specific strategies will you implement to reverse this trend and improve competitiveness in the North American market amid ongoing challenges?
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The August cybersecurity event negatively impacted your adjusted earnings by $0.02 per share and affected free cash flow due to delayed billing and collections; what comprehensive measures are you taking to enhance your cybersecurity infrastructure to prevent future incidents that could affect your financial performance?
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As competition intensifies in your core international business lines like cementing, completion tools, and drilling fluids, how do you plan to maintain or grow your market share, and what innovative solutions are you offering to differentiate yourself in these mature markets?
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With plans for over 50% of your active fleet to be Zeus fleets next year, what potential risks do you foresee regarding customer adoption, technological integration, or supply chain constraints that could hinder the deployment of the Zeus platform, and how might these challenges affect your operational and financial goals?
| Customer | Relationship | Segment | Details |
|---|---|---|---|
Primary Customer in Mexico | Sale of oilfield services | All | 6% of total receivables as of December 31, 2023 ($291.6 million) |
Recent developments and announcements about HAL.
Corporate Leadership
Leadership Change
Who is leaving? Bhavesh (Bob) V. Patel, a Director at Halliburton, has decided not to stand for re-election and will retire early to pursue other opportunities. He will remain in his role until May 21, 2025, when his term ends.
Why? His decision is personal and not due to any disagreements with Halliburton's operations, policies, or practices.
Who is stepping up? No successor has been announced yet.
Board Change
Bhavesh (Bob) V. Patel, a member of the Halliburton Company Board of Directors, has announced his decision to not stand for re-election and retire early. He will remain on the board until his term ends on May 21, 2025, prior to the annual meeting of shareholders.