Halliburton

Halliburton is a big American company that helps with oil and gas work all around the world. It is the second largest company for this kind 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. It also faced some problems, such as not listening to requests from groups that want to know more about the chemicals it uses.

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 began in 1919 when Erle P. Halliburton started the New Method Oil Well Cementing Company. In 1920, he controlled a wild gas well using cement near Wilson, Oklahoma. By 1922, the Halliburton Oil Well Cementing Company was doing well from 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 continued to work 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 contributions to foreign trade. The company opened a large manufacturing center in Duncan, Oklahoma in 1964 and began using computers for its services in 1965.

In 1969, Halliburton started building a base camp at Prudhoe Bay in Alaska. In the 1970s and 1980s, Halliburton continued to grow, 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 was awarded a contract to help with oil well firefighting in Iraq. In 2010, Halliburton was discussed during hearings about the Deepwater Horizon oil spill.

Proposed acquisition of Baker Hughes

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

Chemical plant in Saudi Arabia

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

Controversies and criticism

Iraq War

Halliburton faced 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 becoming Vice President. Some people said Halliburton got special treatment for its work in Iraq, and investigations were started to look into these claims.

Deepwater Horizon explosion

In 2010, a big oil spill happened in the Gulf of Mexico because of an explosion on an oil rig called Deepwater Horizon. Reports said that mistakes made 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 to build a plant. 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 forced people in Farmington, New Mexico to leave their homes.

Sale of KBR

In 2006, Halliburton started selling its part in a big subsidiary called KBR, which 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 applied to 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 had taken away his work duties and stopped him from joining many meetings.

Corporate affairs

Headquarters

Halliburton's main office is located in northern Houston, Texas, close to George H.W. Bush Intercontinental Airport.

Halliburton was based in Dallas, Texas from 1961 to 2003. It moved its office there in 1985 and then decided to move to Houston in 2002, completing the move by July 2003. In 2009, Halliburton announced plans to move to a new campus called the North Belt Campus in Houston, which would include space for employees, research facilities, and other services. The first parts of this campus were finished in 2012, with more buildings added in 2014.