Halliburton is a multinational corporation in the oil field services segment of the industry. The company relies on strategic acquisitions to expand its presence in the global market. Some of the top subsidiaries owned by Halliburton include Baroids, Landmark, and Sperry Drilling. These subsidiaries play a crucial role in different segments of the oil and gas industry, such as drilling and evaluation, data analysis, and engineering optimization.
Key Takeaways:
- Halliburton is a multinational corporation in the oil field services segment
- The company expands through strategic acquisitions
- Top subsidiaries include Baroids, Landmark, and Sperry Drilling
- Subsidiaries play crucial roles in drilling, evaluation, data analysis, and engineering optimization
Halliburton: A Brief History
Halliburton, founded in 1919 as the New Method Oil Well Cementing Company, has a rich history in the oil and gas industry. Since its inception, the company has grown into a multinational corporation with operations in numerous countries around the world. With subsidiaries and operations in the United States, the Netherlands, Canada, Brazil, Cyprus, and more, Halliburton has established a strong international presence.
The company operates through two divisions: drilling and evaluation, and completion and production. These divisions offer a wide range of product service lines to meet the diverse needs of the oil and gas industry. From drilling technologies to data analysis and engineering optimization, Halliburton plays a significant role in various aspects of the industry.
With over 40,000 employees spread across 74 countries, Halliburton is backed by a talented workforce. The company’s top executives, including President and CEO Jeff Miller, CFO Eric Carre, Secretary and Chief Legal Officer Van Beckwith, and Chief Human Resources Officer Lawrence J. Pope, lead the strategic direction of the company.
| Financials | Revenue | Operating Income |
|---|---|---|
| 2022 Fiscal Year | $20.3 billion | $2.7 billion |
Halliburton’s Corporate Structure
Halliburton’s corporate structure is designed to effectively manage its operations and subsidiaries. The company’s divisions are organized to focus on specific areas of expertise and ensure efficient service delivery to clients. The drilling and evaluation division specializes in providing technologies and services related to drilling operations, data analysis, and evaluation. On the other hand, the completion and production division focuses on optimizing production and enhancing reservoir performance.
Through strategic acquisitions and strong corporate governance, Halliburton has positioned itself as a leading player in the oil and gas industry. The company’s commitment to innovation, operational excellence, and customer satisfaction has enabled it to thrive in a highly competitive market.
As Halliburton continues to grow and expand its portfolio, its history and corporate structure provide a solid foundation for future success in the ever-evolving oil and gas industry.
Halliburton’s Acquisition Strategy
Halliburton, as a global leader in the oil field services industry, has a well-defined acquisition strategy to expand its service lines and strengthen its market position. The company actively seeks strategic acquisitions to enhance its portfolio and capabilities, allowing them to provide a comprehensive range of solutions to their clients. By acquiring companies with specialized expertise and innovative technologies, Halliburton aims to stay ahead of the competition and deliver exceptional value to their customers.
Recent Acquisitions
One notable acquisition in Halliburton’s recent history is the purchase of Athlon Solutions. Completed in 2018, this strategic acquisition enabled Halliburton to bolster its reactive chemistry capabilities. Athlon Solutions is a leading provider of specialty water and process treatment chemicals, which are essential for various oil and gas operations. By integrating Athlon Solutions’ expertise and products into their offerings, Halliburton can better serve their clients’ needs and provide tailored solutions for improved operational efficiency and environmental sustainability.
However, it is worth mentioning that not all acquisition endeavors have been successful for Halliburton. In 2016, the company proposed a $35 billion acquisition of Baker Hughes, a prominent oilfield services provider. Unfortunately, the deal faced significant challenges and eventually fell through due to antitrust concerns. Despite this setback, Halliburton remains committed to its acquisition strategy and continues to explore opportunities for strategic acquisitions that align with their growth objectives and enhance their service offerings.
Future Growth and Expansion
Through strategic acquisitions, Halliburton aims to diversify its portfolio, expand its geographic reach, and tap into emerging markets. By identifying companies that complement their existing capabilities and align with their long-term goals, Halliburton can stay at the forefront of industry advancements and adapt to changing customer needs. With their expertise in integrating and leveraging acquired assets, Halliburton has the potential to further strengthen its market position and deliver sustainable growth.
| Year | Acquisition | Industry |
|---|---|---|
| 2018 | Athlon Solutions | Specialty water and process treatment chemicals |
| 1998 | Dresser Industries | Drilling fluid additives, completion fluids, and related products and services |
| 1996 | Landmark | Software solutions for exploration and production companies |
| Year | Acquisition | Industry |
Halliburton’s Important Subsidiaries
When it comes to the key subsidiaries owned by Halliburton, three names stand out: Baroid, Landmark, and Sperry Drilling. These subsidiaries play a vital role in different segments of the oil and gas industry, providing specialized products and services that contribute to Halliburton’s success and growth.
Baroid: Delivering Essential Drilling Solutions
One of Halliburton’s prominent subsidiaries is Baroid, known for its expertise in drilling fluid additives, completion fluids, and related products and services. Baroid’s contributions are crucial to ensuring efficient and effective drilling operations. It became part of Halliburton in 1998 through the acquisition of Dresser Industries, further strengthening Halliburton’s position in the industry.
Landmark: Leading the Way in Upstream Technology
Acquired by Halliburton in 1996, Landmark is a subsidiary that specializes in providing advanced technology solutions for the upstream oil and gas industry. With a focus on software for exploration and production companies, Landmark plays a significant role in optimizing operations and enhancing overall efficiency. Its integration into Halliburton’s portfolio has been instrumental in delivering cutting-edge solutions to the industry.
Sperry Drilling: Driving Innovation in Drilling Operations
Sperry Drilling is another important subsidiary under the Halliburton umbrella. It offers a comprehensive range of systems and services for drilling operations, including horizontal and directional drilling, information gathering, and engineering optimization. With its expertise and innovative solutions, Sperry Drilling contributes to improving drilling efficiency and maximizing reservoir potential.
Each of these subsidiaries has a rich history, with roots stemming from mergers and acquisitions that have shaped Halliburton’s diverse portfolio. By leveraging the unique capabilities of Baroid, Landmark, and Sperry Drilling, Halliburton continues to solidify its position as a global leader in the oil field services industry.
FAQ
What companies does Halliburton own?
Halliburton owns several companies, including Baroid, Landmark, and Sperry Drilling.
What is Halliburton’s history?
Halliburton was founded in 1919 as the New Method Oil Well Cementing Company and later changed its name to Halliburton in 1961. It has subsidiaries and operations in various countries worldwide and operates through two divisions: drilling and evaluation, and completion and production.
What is Halliburton’s acquisition strategy?
Halliburton has a history of strategic acquisitions to enhance its service lines. While some acquisitions, like Athlon Solutions, have been successful, the planned acquisition of Baker Hughes did not materialize due to antitrust concerns. However, Halliburton remains committed to its acquisition strategy and continues to explore opportunities to expand its portfolio through strategic acquisitions.
What are Halliburton’s important subsidiaries?
Halliburton has several important subsidiaries, including Baroid, which supplies drilling fluid additives and completion fluids; Landmark, which provides technology solutions for the upstream oil and gas industry; and Sperry Drilling, which offers systems and services for drilling operations.