Halliburton

Halliburton is a large American company that helps with oil and gas work around the world. It is the second largest company for this type of work, and it does a lot of fracking—a way to get more oil out of the ground. The company has offices in two main places: Houston and Dubai.

Halliburton has a main part called the Energy Services Group that does most of its work. Over the years, the company has been part of some big events and discussions, like its role during the Iraq War and the Deepwater Horizon situation.

In 2014, Jeff Miller became President of Halliburton, and in 2017, he became the CEO, taking over from Dave Lesar. The company continues to be very important in the oil and gas industry.

Business overview

The company has offices in Houston and Dubai, but it is officially part of the United States.

Its main work includes energy services, formation evaluation, digital and consulting services, helping to improve oil production, and fluid systems.

History

Early history (as HOWCO)

The company started in 1919 when Erle P. Halliburton created the New Method Oil Well Cementing Company. In 1920, he used cement to control a wild gas well near Wilson, Oklahoma. By 1922, the Halliburton Oil Well Cementing Company was successful because of the oil boom in Mexia, Texas.

In 1924, the company was officially registered in Delaware with 56 employees. It expanded internationally in 1926, selling equipment to Burma and India. Through the 1930s and 1940s, Halliburton kept working on cementing oil wells across America. In 1938, they cemented their first offshore well off the Louisiana coast. By 1951, Halliburton had service centers in many countries and its revenues exceeded $100 million.

As Halliburton

On July 5, 1961, the company changed its name to Halliburton Company. In 1963, Halliburton received a special award for its help with foreign trade. The company opened a large manufacturing center in Duncan, Oklahoma in 1964 and started using computers for its services in 1965.

In 1969, Halliburton began building a base camp at Prudhoe Bay in Alaska. In the 1970s and 1980s, Halliburton kept growing, working in many countries and developing new technologies.

1990s

After Operation Desert Storm in 1991, Halliburton helped put out burning oil wells in Kuwait. In 1995, Dick Cheney became chairman and CEO of Halliburton. During the 1990s, Halliburton worked on projects in many countries, including former enemies.

2000s

In 2001, a Halliburton subsidiary opened an office in Tehran, Iran. In 2003, Halliburton’s subsidiary KBR got a contract to help with oil well firefighting in Iraq. In 2010, Halliburton was talked about during hearings about the Deepwater Horizon oil spill.

Proposed acquisition of Baker Hughes

In 2014, Halliburton planned to buy Baker Hughes in a $34.6 billion deal, but the merger was stopped in May 2016.

Chemical plant in Saudi Arabia

In 2022, Halliburton opened a chemical manufacturing facility in Jubail, Saudi Arabia, to make chemicals for the oil and gas industry.

Controversies and criticism

Iraq War

Halliburton had many questions about its work during the Iraq War. The company had close ties to former U.S. Vice President Dick Cheney, who worked at Halliburton before he became Vice President. Some people thought Halliburton got special help for its work in Iraq, and investigations looked into these claims.

Deepwater Horizon explosion

In 2010, a big oil spill happened in the Gulf of Mexico after an explosion on an oil rig called Deepwater Horizon. Reports said mistakes by Halliburton workers helped cause the spill. The company later admitted to hiding some information after the spill.

Allegations of corruption in Nigeria

In 2010, there were claims that Halliburton made secret payments in Nigeria to help get a big contract. The company and some former leaders had to pay money to settle these claims.

Environmental issues

Halliburton has been asked about letting out harmful chemicals from some of its facilities. For example, in 2006, a cloud of harmful chemicals made people in Farmington, New Mexico leave their homes.

Sale of KBR

In 2006, Halliburton started selling its part in a big company called KBR, which then became its own company.

Baghdad incident

In 2005, some truck drivers working for Halliburton were attacked while driving in Baghdad. Sadly, three drivers were hurt during the attack.

Restatements

In 2003 and 2005, Halliburton had to change some of its past financial reports to correct mistakes.

Health impacts

Halliburton has been asked about the safety of chemicals it uses in oil and gas work. Some rules that could have helped watch over these chemicals were not used for Halliburton’s work.

Illegal retaliation against whistleblower

In 2015, Halliburton was found to have treated unfairly a worker who reported concerns about the company’s actions. The company took away his work duties and stopped him from joining many meetings.

Corporate affairs

Headquarters

Halliburton's main office is in northern Houston, Texas, near the George H.W. Bush Intercontinental Airport.

Halliburton was in Dallas, Texas from 1961 to 2003. It moved there in 1985 and then decided to move to Houston in 2002, finishing the move by July 2003. In 2009, Halliburton planned to move to a new campus called the North Belt Campus in Houston. This campus would have space for employees and research facilities. The first parts of this campus were finished in 2012, with more buildings added in 2014.