Key Developments: Halliburton Co (HAL.N)

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Latest Key Developments (Source: Significant Developments)

SPT Energy Group Inc's subsidiary enters into a joint venture agreement with Halliburton Co's subsidiary
Monday, 21 Apr 2014 06:16am EDT 

SPT Energy Group Inc:Says Petrotech (Xinjiang) Engineering, a subsidiary of the company, and Halliburton B.V., a subsidiary of Halliburton entered into an agreement.Pursuant to which, both parties agreed to establish a joint venture which will engage in the provision of the fracture stimulation services in Xinjiang Uygur Autonomous Region of China.Petrotech (Xinjiang) Engineering shall contribute $17,340,000, representing 51 pct of the registered capitaland Halliburton B.V. shall contribute $16,660,000, representing 49 pct of the registered capital joint venture.  Full Article

Halliburton Co declares first quarter dividend
Friday, 14 Feb 2014 04:55pm EST 

Halliburton Co:Says the board has declared a 2014 first quarter dividend of $0.15 a share on the company's common stock.Says it is payable on Mar. 26, to shareholders of record at the close of business on Mar. 5d.  Full Article

U.S. Justices Agree To Hear Halliburton Co Securities Class Action - Reuters
Friday, 15 Nov 2013 01:51pm EST 

Reuters reported that the U.S. Supreme Court on November 15, 2013 agreed to revisit a securities class action case against Halliburton Co that could have implications for the future of such lawsuits. Shareholders led by the Erica P. Johns Fund Inc claimed Halliburton understated its asbestos liabilities while overstating revenues in its engineering and construction business and the benefits of its merger with Dresser Industries.  Full Article

Halliburton Co Declares 20% Dividend Increase
Wednesday, 6 Nov 2013 11:47am EST 

Halliburton Co announced that its board of directors has approved a 20% increase in its quarterly dividend. The 2013 fourth quarter dividend of fifteen cents ($0.15) a share on the Company's common stock is payable on December 27, 2013, to shareholders of record at the close of business on December 6, 2013.  Full Article

Halliburton Co Closes Deepwater Horizon Investigation
Thursday, 19 Sep 2013 12:30pm EDT 

Halliburton Co announced that the United States Department of Justice has closed its investigation of the Company's role related to the Macondo well incident. The federal judge in New Orleans, Louisiana, accepted the single misdemeanor guilty plea for the unauthorized deletion of a computer record that was created after the Macondo well incident. A fine of $200,000 and three years' probation was imposed by the court. The matter was resolved pursuant to a previously announced cooperation plea agreement between a Halliburton subsidiary and the DOJ.  Full Article

Trinidad Drilling Ltd Enters Joint Venture Arrangement With Halliburton Co; Signs Long Term Contract For Four Rigs In Kingdom Of Saudi Arabia
Tuesday, 3 Sep 2013 07:58am EDT 

Trinidad Drilling Ltd. announced that it has entered into a joint venture arrangement with a wholly-owned subsidiary of Halliburton Company (Halliburton) to provide and operate drilling rigs for Halliburton's international integrated projects. The joint venture is expected to concentrate initially on the Kingdom of Saudi Arabia and Mexico. Under this arrangement, the joint venture will have a right of first look to provide drilling rigs for all of Halliburton's managed onshore projects outside of Canada and the United States. Additionally, the joint venture will have a right of first look at Trinidad's onshore contract drilling opportunities outside of Canada and the United States. Trinidad will be the majority shareholder in the joint venture with 60% ownership, and Halliburton will have 40% ownership, with each party contributing future capital in these respective proportions. The joint venture will conduct business under the name Trinidad Drilling International (TDI). Affiliates of Trinidad and Halliburton have signed an agreement to provide four rigs for work in the Kingdom of Saudi Arabia for three years, with a one year optional extension. This agreement will be assigned to the joint venture. The rigs for these initial contracts will include three upgraded rigs from Trinidad's US fleet and one new build rig. The funds for this capital program will be provided by the joint venture partners in line with their ownership levels.  Full Article

Gazprom neft' OAO and Halliburton Co Sign Technological Cooperation Deal-DJ
Tuesday, 13 Aug 2013 02:08am EDT 

Dow Jones reported that Gazprom neft' OAO has signed a technological cooperation deal with oilfield services company Halliburton Co (HAL), the Russian firm said in a statement on August 13, 2013. The companies will exchange data and know-how on using new technology, including for work on hard-to-recover resources.  Full Article

Halliburton Co To Issue $3.0 Billion Of Senior Notes
Monday, 29 Jul 2013 06:39pm EDT 

Halliburton Co announced the pricing of an offering of $3.0 billion aggregate principal amount of senior notes. The notes are being issued in four tranches: $600 million of three-year notes bearing interest at a fixed rate of 1.00% per year and maturing on August 1, 2016; $400 million of five-year notes bearing interest at a fixed rate of 2.00% per year and maturing on August 1, 2018; $1.1 billion of 10-year notes bearing interest at a fixed rate of 3.50% per year and maturing on August 1, 2023; and $900 million of 30-year notes bearing interest at a fixed rate of 4.75% per year and maturing on August 1, 2043. The offering is expected to close on August 5, 2013. Halliburton intends to use the net proceeds of the offering, together with cash on hand to the extent necessary, to fund Halliburton`s previously announced offer to repurchase up to $3.3 billion of shares of common stock pursuant to a modified dutch auction cash tender offer, as well as related fees and expenses.  Full Article

Halliburton Co Announces Commencement Of $3.3 Billion Modified Dutch Auction Tender Offer For Common Stock
Thursday, 25 Jul 2013 07:00pm EDT 

Halliburton Co announced that it is commencing a modified Dutch auction tender offer to repurchase shares of common stock for an aggregate purchase price of up to $3.3 billion. Pursuant to the tender offer, company stockholders may tender all or a portion of their shares at a price specified by the tendering stockholder of not less than $42.50 and not more than $48.50 per share or without specifying a purchase price, in which case their shares will be purchased at the purchase price determined in accordance with the tender offer. When the tender offer expires, Halliburton will determine the lowest price within the range of prices specified above (the purchase price) enabling Halliburton to purchase up to $3.3 billion in the aggregate of common stock. Stockholders will receive the purchase price in cash, for shares tendered at prices equal to or less than the purchase price, including the provisions relating to proration, odd lot priority and conditional tenders in the event that the aggregate cost to purchase all of the shares validly tendered and not validly withdrawn at or below the purchase price exceeds $3.3 billion. These provisions are described in the Offer to Purchase and in the Letter of Transmittal relating to the tender offer that will be distributed to stockholders. All shares purchased by Halliburton will be purchased at the same price. All shares tendered at prices higher than the purchase price will be promptly returned to stockholders.  Full Article

Halliburton Co Declares Quarterly Dividend And Increases Share Repurchase Authorization To $5 Billion
Monday, 22 Jul 2013 06:44am EDT 

Halliburton Co declared a 2013 third quarter dividend of twelve and one-half cents ($0.125) a share on the Company's common stock payable September 25, 2013 to shareholders of record at the close of business on September 4, 2013. The Company also reaffirmed Halliburton's intention to distribute total annual dividends of at least 15-20% of net income. The Company purchased 23 million shares of common stock at a total cost of $1.0 billion. This repurchase activity left $0.7 billion of repurchase capacity remaining under a program initially authorized by Halliburton's board of directors in 2006. On July 18, 2013, Halliburton's board of directors increased the authorization to purchase Halliburton common stock by $4.3 billion, to a new total repurchase capacity of $5.0 billion.  Full Article

Halliburton, Baker Hughes buy more sand, railcars as demand piles up

Oct 21 - As fracking accelerates in North American shale fields, oilfield services providers Halliburton Co and Baker Hughes Inc are stockpiling sand to protect themselves against rising costs and are buying more railcars to transport the haul.

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