Halliburton Company is a major global provider of products and services to the energy industry. The company's core business model revolves around collaborating with customers to engineer solutions that maximize asset value. Halliburton's primary revenue streams are derived from technology and services that improve efficiency, increase recovery, and maximize production for oil and natural gas producers. The company has a global presence, operating in more than 70 countries, and serves a wide range of clients, including major, national, and independent oil and gas companies. Halliburton's competitive advantage lies in its culture of service and its ability to provide solutions throughout the lifecycle of a reservoir, from locating hydrocarbons to optimizing production. The company operates in highly competitive markets, facing competition based on price, service delivery, quality, and technical proficiency.

• Employees: 48,000 (as of December 31, 2023)
• Geographic Footprint: More than 70 countries
• Headquarters: Houston, Texas
• Founded: 1919
• Number of locations/facilities: Numerous, including manufacturing facilities, research and development laboratories, technology centers, and corporate offices
• Revenue: $23.0 billion (FY2023)
• Market Capitalization: $22.5 billion (as of June 30, 2023)
• Key Subsidiaries/Brands: Artificial Lift, Cementing, Completion Tools, Multi-Chem, Baroid, Sperry Drilling, Landmark Software and Services

• CEO: Jeffrey A. Miller
• CFO: Eric J. Carre
• Executive Vice President, Secretary and Chief Legal Officer: Van H. Beckwith
• Senior Vice President and Chief Accounting Officer: Charles E. Geer, Jr.
• Senior Vice President, Tax: Myrtle L. Jones
• Senior Vice President and Treasurer: Timothy M. McKeon
• Executive Vice President of Administration and Chief Human Resources Officer: Lawrence J. Pope
• President, Western Hemisphere: Mark J. Richard
• Senior Vice President, Internal Assurance Services: Jill D. Sharp
• President, Eastern Hemisphere: Shannon Slocum

Jeffrey A. Miller has been CEO since January 2019. Eric J. Carre has been CFO since May 2022. Van H. Beckwith has been Executive Vice President, Secretary and Chief Legal Officer since December 2020.

• Annual Revenue: $23.0 billion (FY2023)
• Net Income: $2.6 billion (FY2023)
• Market Cap: $22.5 billion (as of June 30, 2023)
• Total Assets: $24.7 billion (as of December 31, 2023)
• Employees: 48,000 (as of December 31, 2023)
• Key Financial Highlights: Total revenue increased by 13% in 2023 compared to 2022, with international revenue up by 17% and North America revenue up by 9%. Operating income was $4.1 billion in 2023, compared to $2.7 billion in 2022.

Halliburton provides a wide array of products and services across two main segments:

• Completion and Production: Includes cementing, stimulation, specialty chemicals, intervention, pressure control, artificial lift, and completion products and services. Key offerings include artificial lift services, cementing services, completion tools, Multi-Chem specialty chemicals, pipeline and process services, production enhancement services, and production solutions.
• Drilling and Evaluation: Includes field and reservoir modeling, drilling, fluids, evaluation, and precise wellbore placement solutions. Key offerings include Baroid drilling fluid systems, drill bits and services, Halliburton Project Management, Landmark Software and Services, Sperry Drilling, Testing and Subsea, and Wireline and Perforating services.

Halliburton operates through two main segments:

• Completion and Production: This segment accounted for 59% of total revenue in 2023.
• Drilling and Evaluation: This segment accounted for 41% of total revenue in 2023.

Halliburton's current strategic priorities include allocating capital to high-return international opportunities, maximizing value in North America through premium technologies, and driving differentiation through digital and automation technologies. The company aims to maintain capital expenditures at approximately 6% of revenue and return over 50% of annual free cash flow to shareholders through dividends and share repurchases. Halliburton is also focused on sustainability and the energy mix transition, including developing solutions to lower carbon intensity and participating in carbon capture and storage, hydrogen, and geothermal projects.

• Key strategic initiatives: Focus on international growth, maximizing value in North America, and driving digital differentiation.
• Growth drivers: Increased activity and pricing gains, deployment of digital and automation technologies, and strategic capital allocation.
• Investment priorities: Technological advancements, process changes to reduce manufacturing and maintenance costs, and responding to market opportunities.

Halliburton operates in the energy services industry, which is highly competitive. Key market trends affecting the business include fluctuations in oil and natural gas prices, which directly impact customer spending. The industry is also influenced by global supply and demand dynamics, geopolitical factors, and technological advancements. Halliburton faces competition from numerous substantial competitors across all its business segments. The company's market position is supported by its global presence and comprehensive range of services and products.

• Market Position: One of the world's largest diversified energy services companies.
• Key Competitors: Numerous substantial competitors in each segment of the business.
• Industry Trends: Volatility in oil and natural gas prices, technological advancements, and global energy mix transition.

• Industry Environment Risks: Sensitivity to oil and natural gas prices, which affects customer exploration, development, and production activity.
• Operational Risks: Dependence on capital spending by customers, potential liabilities arising from products and services, and impact of severe weather conditions.
• Financial Risks: Exposure to foreign currency fluctuations, limitations on reinvesting earnings, and potential customer payment delays.
• Regulatory Risks: Compliance with U.S. and international regulations, including trade laws, anti-corruption laws, and environmental regulations, as well as potential restrictions on hydraulic fracturing.
• Cybersecurity Risks: Exposure to cyberattacks that could disrupt operations and compromise sensitive data.