Key Developments: Halliburton Co (HAL.N)

HAL.N on New York Stock Exchange

28 Jan 2015
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Latest Key Developments (Source: Significant Developments)

Halliburton Co, Baker Hughes to lay off thousands as oil slumps - Reuters
Tuesday, 20 Jan 2015 12:05pm EST 

Baker Hughes Inc and Halliburton Co:Plan to cut thousands of jobs as drilling activity slows further due to a steep fall in crude oil prices - Reuters.Baker Hughes, which is being acquired by Halliburton said earlier in the day it would lay off 7,000 employees.Baker Hughes said most of the workforce reduction would take place in the first quarter.  Full Article

Halliburton Co announces appointment of acting chief financial officer - Form 8-K
Tuesday, 9 Dec 2014 01:51pm EST 

Halliburton Co:On Dec. 4, Halliburton’s board of directors made following appointments, effective Jan. 1, 2015.Executive vice president and chief financial officer, Mark A. McCollum, to role of executive vice president and chief integration officer.Senior Vice President and Chief Accounting Officer, Christian A. Garcia, to role of senior vice president of finance, and acting chief financial officer.Vice President of Finance, Charles E. Geer, Jr., to role of vice president and corporate controller.  Full Article

Halliburton Co and Baker Hughes reach agreement to combine in stock and cash transaction valued at $34.6 bln
Monday, 17 Nov 2014 06:45am EST 

Halliburton Co and Baker Hughes Inc:Says definitive agreement under which Halliburton will acquire all the outstanding shares of Baker Hughes in a stock and cash transaction.Transaction is valued at $78.62 per Baker Hughes share, representing an equity value of $34.6 bln and enterprise value of $38.0 bln, based on Halliburton's closing price on Nov. 12, 2014.Upon the completion of the transaction, Baker Hughes stockholders will own about 36 pct of the combined company.  Full Article

Halliburton Co declares dividend
Monday, 20 Oct 2014 06:55am EDT 

Halliburton Co:Board of directors has approved 20 pct increase in its quarterly dividend.The 2014 fourth quarter dividend of eighteen cents ($0.18) share on the company's common stock is payable on Dec. 26.Says to shareholders of record at the close of business on Dec. 5.  Full Article

Halliburton Co awarded mature field contracts from Petroamazonas
Wednesday, 8 Oct 2014 06:14pm EDT 

Halliburton Co:Says it has signed long-term contracts with Petroamazonas, Ecuador's state-run oil company, to provide field development and project management, as well as drilling and completions services, across nine mature fields, including Palo Azul, Lago Agrio and Victor Hugo Ruales fields.Contracts terms are 15 years plus potential five-year extension.  Full Article

Halliburton announces U.S. Court rules on Macondo Liability
Thursday, 4 Sep 2014 12:04pm EDT 

Halliburton:Says the United States District Court for the Eastern District of Louisiana ruled that Halliburton was negligent in its conduct related to April 20, 2010 Macondo well incident in the Gulf of Mexico.Court allocated three percent of fault to Halliburton with remaining fault allocated to other parties involved.Further, Court did not find that Halliburton's conduct constituted gross negligence.The Court also held that, pursuant to parties' contract, BP must indemnify and release Halliburton with respect to compensatory damages claims.In addition, lack of gross negligence finding against Halliburton should resolve all remaining punitive damages claims against company.Halliburton is continuing to evaluate various aspects of rulings and will act about to defend interests in any further proceedings.  Full Article

Rangeland Energy enters into multiyear agreement with Halliburton Co
Thursday, 4 Sep 2014 07:45am EDT 

Rangeland Energy:Says that company has signed multiyear agreement with Halliburton.To provide frac sand rail unloading, storage and distribution services in the Delaware Basin.Rangeland will serve Halliburton and its producer customers from Rangeland's RIO Hub, now under construction near Loving, New Mexico.The 300-acre facility is located in heart of Delaware Basin's rapidly growing production area.Operations are expected to begin in Oct. 2014.  Full Article

Halliburton Co reaches settlement on claims related to Macondo
Tuesday, 2 Sep 2014 09:00am EDT 

Halliburton Co:Announced that it has reached an agreement to settle substantial majority of plaintiffs' class claims asserted against company as result of April 20, 2010 Macondo well incident in Gulf of Mexico.About $1.1 blnsettlement, which includes legal fees, is subject to approval by US District Court for Eastern District of Louisiana, and will be paid into trust until all appeals have been resolved in three installments over the next two years.Company's previously accrued loss contingency provision relating to multi-district litigation proceedings is currently $1.3 bln.Additionally, settlement is subject to an agreed-upon level of participation by current claimants which, if not achieved, allows Halliburton to terminate the agreement.  Full Article

Halliburton declares third quarter dividend
Monday, 21 Jul 2014 06:57am EDT 

Halliburton Co:Declares 2014 third quarter dividend of $0.15 a share on the company's common stock.Payable on Sept. 24 to shareholders of record at the close of business on Sept. 3.  Full Article

Halliburton announces promotion of Jeff Miller to President
Monday, 21 Jul 2014 06:54am EDT 

Halliburton Co:Promotes Jeff Miller, currently the company's executive vice president and chief operating officer, to President and Director effective Aug. 1.  Full Article


Halliburton, Baker Hughes to lay off thousands as oil slumps

- Oilfield service providers Baker Hughes Inc and Halliburton Co plan to cut thousands of jobs as drilling activity slows further due to a steep fall in crude oil prices. | Video

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