Halliburton Company - HAL STOCK NEWS

Halliburton Labs has welcomed Adena Power to its collaborative environment for energy and climate ventures. Adena Power specializes in energy storage solutions for commercial, industrial, and utility markets using U.S. materials and manufacturing. Their sodium battery technology aims for lower costs, flexible duration, and enhanced safety compared to lithium-ion options. CEO Nathan Cooley highlights a 100 TWh opportunity in the U.S. grid, looking to scale with Halliburton Labs' support. Adena Power has had an impressive year, winning the National Renewable Energy Labs Industry Growth Forum’s People’s Choice Award and the U.S. Department of Energy’s MAKE IT Prize. Halliburton Labs manages the effort to aid early-stage energy tech ventures with its industrial experience and global business network. A Finalists Pitch Day event will be held on September 13, 2024, as part of Houston Energy and Climate Startup Week.

Halliburton Company (NYSE: HAL) reported strong Q2 2024 results with net income of $709 million, or $0.80 per diluted share. Total revenue was $5.8 billion, flat sequentially, while operating income increased 5% to $1.0 billion. The company generated $1.1 billion in cash flow from operations and $800 million in free cash flow. Halliburton repurchased approximately $250 million of common stock and paid dividends of $0.17 per share.

Internationally, Halliburton saw strong demand and high activity levels across major basins. In North America, the company's strategy continues to deliver strong returns. The Completion and Production segment reported flat revenue but increased operating income, while Drilling and Evaluation segment results remained flat sequentially.

Halliburton (NYSE: HAL) will host a conference call on July 19, 2024, to discuss its second quarter 2024 financial results. The call will start at 7:30 a.m. CT (8:30 a.m. ET). A press release detailing these results will be issued beforehand and made available on the company's website. The live webcast of the call can be accessed through the Halliburton website, with a recorded version available for seven days post-call. Halliburton is a global leader in energy services, providing innovative technologies to maximize customer value throughout the asset life cycle and promote a sustainable energy future.

Halliburton (NYSE: HAL) has entered into a license agreement with Wintershall Dea to use Halliburton Landmark’s new Unified Ensemble Modeling (UEM) solution. This innovative technology integrates static and dynamic data in real time to enhance the accuracy of reservoir models. UEM will first be implemented in Norway’s Maria Offshore Field, facilitating continuous risk assessment and optimization of drilling operations. This approach aims to boost drilling efficiency, reduce costs, and improve safety. The partnership underscores Halliburton's commitment to providing cutting-edge solutions for real-time decision-making in the oil and gas industry.

Halliburton (NYSE: HAL) held its annual shareholder meeting in Houston, Texas, on May 15, 2024. All 12 board nominees were elected, including Abdulaziz F. Al Khayyal and Jeffrey A. Miller. Shareholders ratified KPMG LLP as the principal independent public accountants and approved compensation for executive officers. An amendment to the Stock and Incentive Plan was also passed. CEO Jeff Miller expressed gratitude for shareholder support.

The board declared a Q2 2024 dividend of $0.17 per share, payable June 26, 2024, to shareholders of record on June 5, 2024.

Halliburton, a leading energy industry provider, aims to maximize asset value and foster sustainable energy solutions.

Halliburton (HAL) has secured a deep water integrated multi-well construction contract with Rhino Resources in Namibia, aiming to maximize asset value and innovation in the oil and gas sector. The collaboration includes exploration and appraisal well construction, testing services, and a focus on localization to benefit the Namibian community.

Halliburton Company (NYSE: HAL) reported net income of $606 million, or $0.68 per diluted share, for the first quarter of 2024. Adjusted net income was $679 million, or $0.76 per diluted share. Revenue reached $5.8 billion with an operating margin of 17%. The company repurchased $250 million of common stock. Completion and Production revenue was $3.4 billion, while Drilling and Evaluation revenue was $2.4 billion. North America revenue decreased by 8%, while International revenue increased by 12%. Halliburton introduced Reservoir Xaminer™, CorrosaLock™ cement system, and SuperFill™ II diverter to its portfolio.

NanoTech Materials, Inc. expands its Texas operations by 340% to meet the increased demand for energy-efficient building materials. The company moves into a new 42,545-square-foot facility in Houston to produce Cool Roof Coat, with the capacity to cover over 55 million square feet annually. NanoTech outgrew its initial space at Halliburton Labs and now has a larger facility to support production and research. The company's ICP™ technology aims to reduce energy consumption, carbon emissions, and operating costs in various applications.

Halliburton (HAL) schedules its annual shareholder meeting on May 15, 2024, at 9 a.m. CDT in Houston, Texas. The record date for voting eligibility is March 18, 2024.