Baker Hughes Co and Halliburton Co on Wednesday said North American oil markets were showing signs of recovery as the two energy services firms beat Wall Street expectations for first-quarter earnings. Oilfield firm U. Well Services filed a patent infringement lawsuit against rival Halliburton Co and shale oil producer Cimarex Energy Co on Thursday, alleging they infringed its electric fracking patents. Wall Street's main indexes opened higher on Tuesday after upbeat earnings from big U.
Treasury Secretary nominee Janet Yellen that is expected to advocate hefty fiscal spending. Oilfield services provider Halliburton Co has eliminated all staff positions in Venezuela as a result of U. Norway's Safe labour union has come to an agreement with employers over wages and other conditions at oil service companies, it said on Thursday, preventing a strike among workers.
Oilfield services provider Halliburton Co said on Thursday it would set greenhouse gas emission reduction targets in line with what the latest climate science outlines is necessary to meet the goals of the Paris Accord. The U.
Quote and financial data from Refinitiv. Fund performance data provided by Lipper. All quotes delayed a minimum of 15 minutes. Halliburton Company HAL. Latest Trade Change Volume 8,, Today's Range Pricing Previous Close. Today's High. Today's Low. Shares Out MIL. Market Cap MIL. Latest Developments More. We are focused on our own personal safety as well as the safety of others. We work together with customers and understand that everyone has a role in providing the best solution.
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The company announced full-year results for the fiscal year on Jan. The change was due to a softening North American market, which was offset by growth internationally. Halliburton has a long history of acquisitions. When Halliburton acquires another company, it often integrates that company within one of its service lines. These run the gamut from drilling products and services to production solutions, project management , and much more. Sometimes, its plans don't go as expected.
That plan didn't come to fruition because of antitrust concerns, as regulators in the U. Antitrust laws promote healthy competition and prevent inflated prices as the case would have been with Halliburton's proposed acquisition of Baker Hughes. In late July , Halliburton announced plans to acquire Athlon Solutions, a provider of specialty water and process treatment chemicals as well as other related products. Athlon joined Halliburton's multi-chem business line to provide chemicals for specialty oilfield services.
The Athlon acquisition was finalized for an undisclosed amount of money. When Halliburton made the announcement, the company's CEO explained that the purchase was part of Halliburton's strategy to develop its reactive chemistry capabilities in the U. The following are three of Halliburton's more important subsidiaries, all of which help demonstrate the company's great history with strategic acquisitions.
Baroid is part of Halliburton's Drilling and Evaluation segment, which is responsible for the modeling of oil and natural gas fields and reservoirs. Baroid supplies of drilling fluid additives, performance additives, completion fluids, and related products and services.
It also helps oil and gas companies drill fields with precision and optimize the extraction of hydrocarbons. Baroid became a part of Halliburton in when Halliburton acquired Dresser Industries, a major rival at the time, in an all-stock transaction. Halliburton originally purchased Landmark Graphics in in a stock-for-stock transaction similar to the Dresser deal. One of these solutions is OpenWorks, a data management system that organizes data and information generated from drilling wells.
OpenWorks facilitates communication between parties on projects and encourages collaboration to optimize well locations. Sperry provides the company's clients with systems and services for a host of drilling operations, such as horizontal and directional drilling , as well as systems for information gathering on rig sites.
It also offers engineering optimization that helps Halliburton's clients reduce the risk at drilling sites and increase productivity. Sun Oil Company's Joseph N. Pew, Jr. The resulting company was renamed Sperry-Sun. NL packaged Sperry-Sun into Baroid in and spun off Baroid amid hard times in the oil industry before being acquired by Dresser and, eventually, Halliburton.
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