Factoring for Halliburton Receivables

Do You Supply Services to Halliburton?

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Halliburton

Halliburton is one of the largest suppliers of products and services to the energy industry. Headquartered in Houston, Texas, Halliburton is made up of hundreds of subsidiaries and divisions that serve the upstream oil and gas industry throughout the entire life cycle of the reservoir. Halliburton operates in approximately 70 countries and directly employs over 55,000 people. In order to focus on their growth in the Eastern Hemisphere, Halliburton opened a second headquarters in Dubai in 2007.

History

Halliburton was founded as the New Method Oil Well Cementing Company in 1919, after its founder, Erle P. Halliburton, was fired from the Perkins Oil Well Cementing Company for making unauthorized adjustments to their cementing procedures. Halliburton believed he could make improvements in the process by using engineering and methods he learned while in the U.S. Army. His new venture was incredibly successful, as his adjustments solved many problems in the field. His innovative technology helped to give him an edge in the industry as he introduced the process of sealing a pipe in cement in order to protect it from cracking and contaminating the oil, and he also created a jet mixer, which ended the lengthy and difficult process of mixing cement by hand. Halliburton began to branch out internationally as early as 1926. The explosion of the automobile industry in the 1930s and 1940s and the increasing demand for domestic oil heating led to further expansion of Halliburton’s company. In 1948, Halliburton was listed on the New York Stock Exchange for the first time. Over the next fifty years, the company diversified and acquired a variety of companies. In 1998, Halliburton merged with Dresser Industries, Inc. and as a result, created one of the largest oil services firms in the world. Despite the fact that Halliburton sold off the Dresser Equipment Group business segment in 2001, the company remains one of the largest and most comprehensive oil service firms in the world.

Present-Day Business Divisions

Today, the core of Halliburton is made up of 14 product service lines that are organized into two divisions: drilling and evaluation, and completion and production. The drilling and evaluation division is made up of six of these product service lines that, when combined, can serve every aspect of the drilling and evaluation process of an upstream oil or gas project. These lines include drill bit and services, baroid, landmark, sperry drilling, testing and subsea, wireline and perforating and consulting and project management.

Additionally, Halliburton’s completion and production division is made up of seven different product service lines that serve the middle and end processes of an upstream oil or gas project. These include artificial lift, pipeline and process services, production enhancement, completion tools, production solutions, multi-chem and cementing, where the company got its start. Halliburton also has a consulting and project management service line that supports both of the divisions.

Until 2007, Halliburton operated two main business subsidiaries: Energy Services Group, which provided products and services to the oil and natural gas industry for exploration and production, and KBR Engineering and Construction Group, which provided engineering and construction within the industry. However, after a large amount of controversy surrounded KBR over how it became the largest U.S. contractor in Iraq during the war, Halliburton began to distance itself, eventually selling the company. Today, Energy Services Group is still one of Halliburton’s largest business segments. Another significant business segment for Halliburton is their Digital and Consulting Services division. One of the leading subsidiaries in this division is Landmark & Halliburton Digital Solutions, which is a leading supplier of software and digital services for the upstream oil and gas industry.

Halliburton’s focus on sustainability is one aspect that make the company successful. Through nearly 100 years of experience, Halliburton has figured out how to minimize their environmental footprint, while maximizing their financial performance. They do this by following the Halliburton Guiding Principles for Sustainability. These principles include delivering superior value for their shareholders, while being transparent in reporting their progress and engaging their shareholders to help achieve results, maintaining safe and environmentally-responsible operations, leading the industry in technology and innovation and enhancing the economic and social well-being of their employees and the communities in which they operate. Halliburton also gives back to the community in a variety of ways. Their community outreach is centered on “Four Pillars of Giving,” including education, environment, health and safety and social service. Through these pillars, Halliburton contributed over $3.5 billion in 2015.

Halliburton

3000 N. Sam Houston Pkwy E.
Houston, TX 77032
281-871-4000
www.halliburton.com