Marine Link
Thursday, March 28, 2024
SUBSCRIBE

Halliburton Company News

09 Apr 2015

Reed Nominated to Caterpillar Board

Caterpillar Inc. announced today that the Caterpillar Board of Directors has nominated Debra L. Reed to join the Board, with the election to occur at the June 2015 annual stockholders meeting. Reed, 58, is the Chairman and CEO of Sempra Energy, a San Diego, California-based energy company. She began her Sempra Energy career in 1978 as an engineer and worked her way into leadership positions at Sempra Energy, as well as Southern California Gas Co. and San Diego Gas & Electric, Sempra Energy’s two regulated California utilities. “Energy is core to our business at Caterpillar, so having a Board member who has spent her entire 37-year-career at one company in this industry will greatly benefit our company,” said Caterpillar Chairman and CEO Doug Oberhelman.

18 Nov 2014

Halliburton & Baker Hughes Merger

Halliburton Company and Baker Hughes Incorporated  today announced a definitive agreement under which Halliburton will acquire all the outstanding shares of Baker Hughes in a stock and cash transaction. The transaction is valued at $78.62 per Baker Hughes share, representing an equity value of $34.6 billion and enterprise value of $38.0 billion, based on Halliburton’s closing price on November 12, 2014, the day prior to public confirmation by Baker Hughes that it was in talks with Halliburton regarding a transaction. Upon the completion of the transaction, Baker Hughes stockholders will own approximately 36 percent of the combined company. The agreement has been unanimously approved by both companies’ Boards of Directors.

17 Nov 2014

Halliburton Seeks to Replace Baker Hughes Board

Baker Hughes Incorporated today announced receipt of notice from Halliburton Company that it intends to nominate candidates to replace the entire board of directors of Baker Hughes at its Apr. 2015 annual meeting. The nominations followed discussions between the parties regarding a potential business combination transaction, and Halliburton's refusal to improve its first and only value proposal. Baker Hughes considers the notice to be an attempt by Halliburton to pressure the Baker Hughes board into accepting a transaction with Halliburton on Halliburton's terms. The discussions began after Baker Hughes received an unsolicited proposal from Halliburton without prior notice on Oct.

29 May 2002

Halliburton Reports SEC Investigation

Halliburton Company announced that it has received notification from the Securities and Exchange Commission (SEC) that it has initiated a preliminary investigation of the company's accounting treatment of cost overruns on construction jobs. Halliburton believes that it has accounted for construction claims and change orders in accordance with generally accepted accounting principles applicable to the construction industry. The company has advised the SEC that it will cooperate fully with the SEC in its investigation. Halliburton believes that this investigation results from an article in the New York Times on May 22, 2002, in which certain allegations were reported concerning the accounting treatment of construction job claims and change orders which are negotiated with customers.

31 Mar 2000

McMoRan, Halliburton Form Alliance To Develop 160 Gulf Of Mexico Blocks

McMoRan Exploration Co. and Halliburton Company have announced the formation of a strategic alliance to conduct operations for McMoRan's recently announced major new oil and gas exploration and development program in the Gulf of Mexico. As previously announced, McMoRan has acquired from Texaco Exploration and Production the right to explore 89 oil and gas tracts and McMoRan purchased Shell Offshore Inc.'s, interest in 56 exploratory leases, all in the Gulf of Mexico. These two transactions, together with its current lease inventory, provide McMoRan exploratory rights to 160 blocks covering approximately 750,000 gross acres and the foundation for an aggressive exploration and development program.

18 Aug 2000

Lesar Named New CEO of Halliburton

Halliburton Company's board of directors, elected David J. Lesar, 47, to the board of directors and named him the company's chairman of the board, president and chief executive officer. Lesar replaces Dick Cheney, who resigned to be George W. Bush's Republican Party vice presidential running mate. Lesar, currently the company's president and chief operating officer, joined Halliburton in 1993 as executive vice president and chief financial officer of the Halliburton Energy Services business unit. Subsequently, he served the company in a variety of senior management positions including executive vice president and chief financial officer of Halliburton Company and president and chief executive officer of Brown & Root, Inc.

18 Aug 2000

Bush-Cheney: Is It An Oil Industry Dream Team?

The U.S. oil industry may have found its dream team with Republican presidential candidate George W. Bush's pick of Dick Cheney, former CEO of Halliburton Company, as his vice presidential running mate. American energy firms could get a break from environmental regulations and policies imposed under the Clinton-Gore administration that industry representatives claim have discouraged domestic oil production and left the United States vulnerable to foreign suppliers like OPEC. Bush's prior experience as an independent oil operator had already won him industry favor, and that popularity is likely to grow with Cheney, who headed the world's largest oil field service company, now joining the ticket.

12 Feb 2003

Gaut Named as Halliburton CFO

C. Christopher Gaut, Senior Vice President and Chief Financial Officer will resign his position at ENSCO effective the end of this month to join Halliburton Company as Executive Vice President and Chief Financial Officer. Gaut has been with ENSCO over fifteen years and has served as the Company's Chief Financial Officer since 1988. Gaut's responsibilities will be reassigned to officers within ENSCO until a permanent successor is announced.

13 Apr 2000

Offshore News

R&B Falcon Confirms U.S. Reading & Bates Development Co. (DEVCO), a wholly owned subsidiary of R&B Falcon Corporation, announced its Boomvang Project in deepwater offshore Texas is proceeding rapidly. DEVCO concurs with previously announced reserve estimates of 70-100 million boe in several oil reservoirs extending across portions of East Breaks Blocks 642, 643, 688 and 732. Platform, production facilities and pipeline contracts are being evaluated, and development drilling is scheduled to begin in the second quarter of this year. The partners anticipate first production in the first quarter of 2002. DEVCO owns a 50 percent working interest in the Boomvang Project. Kerr-McGee Oil & Gas Corp., a wholly owned subsidiary of Kerr-McGee Corp. is operator and owns a 30 percent working interest.

27 Mar 2000

McMoRan, Halliburton Form Alliance to Develop GOM Blocks

McMoRan Exploration Co. and Halliburton Company have announced the formation of a strategic alliance to conduct operations for McMoRan's recently announced major new oil and gas exploration and development program in the Gulf of Mexico. McMoRan has recently acquired 160 blocks covering approximately 750,000 gross acres in the Gulf of Mexico with exploratory rights and the foundation for an aggressive exploration and development program. Chase Securities Inc. assisted McMoRan in forming this alliance, and will arrange a $50 million bank facility for McMoRan's use in funding the exploration program. Additionally, Halliburton will have the opportunity to participate in McMoRan's development opportunities in this program by providing a portion of the development financing.

05 May 2000

Offshore News

A contract for the construction of a deepwater construction vessel was signed by Bender Shipbuilding & Repair Co., Inc., and Torch, Inc. The Guido Perla & Associates-designed 340 x 85 x 31 ft. M/V Midnight Warrior is a current generation construction vessel, equipped to provide offshore flowline installation, offshore umbilical installation and subsea construction and is capable of worldwide operations. Midnight Warrior is to be ABS-classed, Maltese Cross A1, Maltese Cross AMS, DP-2 Circle E for unlimited international service. The 15,000 hp vessel will be diesel electric, SCR, with three 3,000 hp azimuthing thrusters on the stern and two 2,000 hp tunnel thrusters in the bow. The U.S.

31 Aug 1999

Halliburton Introduces New Stimulation Vessel

Halliburton Energy Services, a business unit of Halliburton Company, introduced Stim Star, its new deepwater stimulation vessel, to more than 400 customers in Houston and New Orleans. The vessel is commercially available for service in the Gulf of Mexico. Stim Star is the latest addition to Halliburton's existing state-of-the-art deepwater stimulation fleet, which includes War Admiral and Man-o-War. All three vessels are equipped to deliver Halliburton's latest stimulation technology solutions - Delta FracPac service, water packs, and Sandstone 2000 service - to both deepwater and shelf customers. "The addition of Stim Star expands the rough sea capabilities of Halliburton's Gulf fleet to better handle the deepwater environment," stated HES president Edgar Ortiz.

17 Aug 1999

Halliburton's Brown & Root Wins ROV Drilling Support Contract

As a division of Brown & Root Energy International, Services (BRES), SubSea International, Inc. has been awarded a contract to provide remotely operated vehicle (ROV) services to support Burlington Resources, Inc.'s drilling program in the Gulf of Mexico. Brown & Root Energy Services is a business unit of Halliburton Company. Operating from onboard semi-submersible Borgny Dolphin, SubSea International's ROV systems. include a custom-built heavy launch and recovery system, a four-point guide wire cursor system and a Pioneer work-class ROV.

25 Aug 1999

Halliburton Divests PathFinder LWD Business

Halliburton Company and W-H Energy Services, Inc., jointly announced Halliburton has sold its logging-while-drilling (LWD) and related measurement-while-drilling (MWD) business known as PathFinder to W-H. The sale also included certain directional drilling assets in the North Sea. Consideration paid to complete the sale was not disclosed by Halliburton and W-H. Halliburton has completed the sale of the business in order to comply with the consent decree the company entered into with the U.S. Department of Justice on September 29, 1998 to conclude antitrust review of Halliburton's 1998 merger with Dresser Industries, Inc. Halliburton and W-H will cooperate in an orderly transition of the PathFinder business to W-H.

12 Nov 1999

No Relief Yet

Oilfield service companies were not nearly as lucky as their oil producing counterparts. While net income in the oil producing industry was up over the 1998 third-quarter, oilfield service companies were still feeling the pain of the low oil prices from earlier in the year. While the stock market - the global business measuring stick - has generally been positive on the offshore oilfield sector throughout much of the year, there has been a relapse of sorts in October, as uncertainty surrounding OPEC output quotas has largely dampened the year's progress. In fact, a major tracker of offshore industry stocks, Warburg Dillon Read, in mid-October cut its ratings of four oilfield equipment and services companies.

24 Apr 2003

Offshore News: Offshore Companies in the News

• Diamond Offshore Drilling Limited, completed the previously announced acquisition of the third-generation semisubmersible drilling rig Omega. The rig, purchased for $65 million, has been renamed Ocean Patriot. Diamond Offshore has a fleet of 47 offshore drilling rigs currently consists of 32 semisubmersibles, 14 jack-ups and one drillship. • Diamond Offshore Drilling Inc. received a letter of intent from Murphy Sabah Oil Company Ltd., a wholly-owned subsidiary of Murphy Oil Corporation, to operate the semisubmersible Ocean Rover offshore Malaysia for approximately 120 days following completion of its upgrade. Ocean Rover is expected to commence operations in Malaysia following delivery from the shipyard.