Welcome to our dedicated page for Halliburton Company news (Ticker: HAL), a resource for investors and traders seeking the latest updates and insights on Halliburton Company stock.
Halliburton Company (symbol: HAL) is a leading force in the energy sector, founded in 1919. With a global presence in approximately 80 countries and a workforce of around 65,000 employees representing 140 nationalities, Halliburton provides an extensive range of products and services to the upstream oil and gas industry.
Halliburton’s operations span the entire lifecycle of a reservoir, from the initial stages of locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the field. The company is renowned for its expertise in various business lines, including completion fluids, wireline services, and cementing.
Notably, Halliburton is the largest pressure pumper in North America and has pioneered innovations in hydraulic fracturing over the past two decades. This has positioned the company as one of the three largest oilfield service firms globally.
Halliburton's financial health is robust, with a focus on adjusted EBITDA, adjusted operating income, and adjusted free cash flow as key performance indicators. These metrics are vital for evaluating the company’s ongoing profitability and operational efficiency. The company’s recent projects and strategic partnerships further underline its commitment to technological advancements and sustainable growth in the energy sector.
For the latest updates and detailed information on Halliburton’s performance and developments, visit their official website at www.halliburton.com.
Halliburton Company (NYSE: HAL) reported a significant increase in financial performance for Q1 2023, boasting a net income of $651 million or $0.72 per diluted share, more than doubling its net income from $263 million, or $0.29 per diluted share, in Q1 2022. Total revenue surged to $5.7 billion, a 33% year-over-year increase from $4.3 billion. Operating margin improved to 17.2%, up 530 basis points compared to the previous year. The Completion and Production segment showed a 45% revenue increase to $3.4 billion, while Drilling and Evaluation revenue rose 17% to $2.3 billion. North America revenues climbed 44% to $2.8 billion, driven largely by improved activity in oil and gas services. Halliburton repurchased approximately $100 million of common stock and engaged in strategic partnerships to enhance its technology offerings in emissions management and digital solutions for drilling and well construction.
Halliburton Labs has welcomed FuelX, LiNa Energy, and Solaires Entreprises into its clean energy accelerator. This initiative aims to enhance clean energy innovation by providing early-stage companies with industrial capabilities, technical expertise, and global connections.
FuelX focuses on hydrogen storage and fuel cell systems, while LiNa Energy specializes in low-cost sodium batteries for renewable storage. Solaires Entreprises develops advanced solar cells using patented perovskite technology. The collaboration is designed to support commercialization and scale operations for these innovative companies.
The next Halliburton Labs Finalists Pitch Day is set for September 21 in Denver, coinciding with the inaugural Energy Tech Day.
Halliburton Company (NYSE: HAL) announced that Repsol has adopted its Landmark DecisionSpace® 365 Well Construction Suite as the preferred digital solution for automating well design processes. This implementation enhances scalability, flexibility, and collaboration, while integrating machine learning and AI into drilling operations. The suite helps standardize well design, automate routines, and minimize downtime. Halliburton's cloud technologies, according to senior VP Nagaraj Srinivasan, optimize planning and reduce costs, enabling Repsol to improve efficiency. Repsol's Drilling Manager Roberto Tello emphasized the benefits of shortened planning times and reduced non-productive time.
Halliburton (NYSE: HAL) has entered a contract with Petrobras allowing access to the Landmark iEnergy® digital platform. This platform will aid Petrobras in addressing subsurface challenges and supports their exploration and production strategies. The contract includes the DecisionSpace® 365 Geoscience Suite, which offers cloud-based technologies, including Seismic Engine and Assisted Lithology Interpretation, optimizing their data utilization. According to Halliburton, utilizing the iEnergy platform will enhance user experience and reduce the Total Cost of Ownership for Petrobras.
Halliburton Company (NYSE: HAL) announced that Hess Corporation (NYSE: HES) selected its DecisionSpace® 365 Well Construction applications, powered by iEnergy® Hybrid Cloud, for more efficient well planning and construction. The applications create a digital twin of the well construction process, enabling real-time collaboration between operators and service providers. Hess aims to enhance operational performance sustainably while reducing costs. Halliburton's technology integrates artificial intelligence and machine learning for better oversight across the well construction lifecycle.
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