Halliburton Company
Halliburton Company provides products and services to the energy industry worldwide. It operates in two segments, Completion and Production, and Drilling and Evaluation. The Completion and Production segment offers production enhancement services that include stimulation and sand control services; cementing services, such as well bonding and casing, and casing equipment; and completion tools that offer downhole solutions and services, including well completion products and services, intelligent well completions, liner hanger systems, sand control systems, multilateral systems, and service tools. This segment also provides electrical submersible pumps, as well as artificial lift services; production solutions comprising coiled tubing, hydraulic workover units, downhole tools, and pumping and nitrogen services; pipeline and process services, such as pre-commissioning, commissioning, maintenance, and decommissioning; and specialty chemicals and services. The Drilling and Evaluation segment offers drilling fluid systems, performance additives, completion fluids, solids control, specialized testing equipment, and waste management services; drilling systems and services; wireline and perforating services consisting of open-hole logging, and cased-hole and slickline; and drill bits and services comprising roller cone bits, fixed cutter bits, hole enlargement, and related downhole tools and services, as well as coring equipment and services. This segment also provides cloud based digital services and artificial intelligence solutions on an open architecture for subsurface insights, integrated well construction, and reservoir and production management; testing and subsea services, such as acquisition and analysis of reservoir information and optimization solutions; and project management and integrated asset management services. Halliburton Company was founded in 1919 and is based in Houston, Texas.
What does it do?
Halliburton is one of the world's largest oilfield services companies — think of it as the contractor that oil companies hire to actually drill and complete their wells. When ExxonMobil or Saudi Aramco wants to pull oil out of the ground, they often call Halliburton to provide the specialized equipment, chemicals, and technical crews to make it happen. Halliburton doesn't own the oil itself — it gets paid for the service of helping others find and extract it. A simple analogy: if oil companies are miners, Halliburton sells the shovels and does the digging.
Halliburton is essentially a barometer for global oil activity — when energy companies spend more on drilling, Halliburton wins. With oil prices remaining elevated and energy security becoming a top geopolitical priority post-Ukraine invasion, spending on new well development has stayed resilient. Investors watch Halliburton closely because its order book tells you where the energy industry is heading before the headline oil price does.
How does it make money?
Halliburton earns money through two main business lines. The first, Completion and Production, covers everything needed to make a drilled well actually produce oil — things like hydraulic fracturing (blasting rock with pressurized fluid to release oil), cementing, and well completion tools. The second, Drilling and Evaluation, covers drilling services, drill bits, and the sensors used to steer wells underground. Together these generated $22.2 billion in revenue last year, with North America and international markets each contributing meaningfully. The company charges day rates and project fees, so revenue is tied directly to how much drilling activity is happening globally.
Why do investors care?
Halliburton's growth story rests on a simple bet: the world still needs a lot of oil and gas for years to come, and producing it requires ever more complex and expensive technology. International markets — the Middle East, Latin America, and parts of Asia — are ramping up capital spending on new wells, which is where Halliburton sees its next leg of growth. Margins (the percentage of revenue kept as profit) have been improving as the company pushes more technology-driven, higher-value services. For this story to work, oil prices need to stay high enough that energy companies keep drilling aggressively, and Halliburton needs to continue winning contracts in fast-growing international regions.
Deep Dive
MemberA full investor briefing on Halliburton Company — history, leadership, risks, and outlook.