HALLIBURTON Business Summary

Halliburton Company (HAL) operates as a premier global provider of products and services to the energy industry, primarily generating revenue through a service-intensive business model that includes equipment rentals, specialized labor, and proprietary software licensing. The company is organized into two core segments: Completion and Production (C&P), which accounts for approximately 60% of total revenue and leads the market in hydraulic fracturing, cementing, and artificial lift; and Drilling and Evaluation (D&E), which provides high-margin subsurface modeling, drilling fluids, and wellbore placement services. As of early 2026, Halliburton remains a dominant force in the North American shale market while aggressively expanding its international footprint in Latin America and the Middle East to offset domestic volatility. Its primary direct competitors include SLB (formerly Schlumberger), Baker Hughes, and Weatherford International, with Halliburton distinguishing itself through its technological leadership in well completions and a disciplined focus on free cash flow over capital-intensive expansion. Originally founded in 1919 by Erle P. Halliburton, the company is currently led by Chairman, President, and CEO Jeff Miller, a Texas A&M MBA and CPA who has been with the firm since 1997. The executive team includes Eric Carre as Executive Vice President and CFO, a veteran who joined in 1991, and J. Shannon Slocum, who transitioned into the role of Executive Vice President and COO in January 2026. Global technology initiatives are overseen by Sriram Srinivasan, Senior Vice President of Global Technology, who manages the firm’s extensive intellectual property portfolio. The board of directors was recently strengthened by the December 2025 appointment of Timothy A. Leach, the former EVP of ConocoPhillips and CEO of Concho Resources, bringing deep Permian Basin expertise to the leadership's strategic oversight.