Halliburton

Halliburton History
Halliburton
Halliburton is a world energy company that offers engineering and construction services. The company is divided into two segments: the Halliburton Energy Services Group, which offers services and products used in the exploration, the growth, and the production of oil and gas. The other segment is the KBR Engineering and Construction Group that designs andconstructs projects for future gas plants oil plants, etc. Halliburton operates in more than 100 countries together with Dresser Industries, Inc. The company has faced challenges in the new millennium; however, she was still able to keep up.
Halliburton's main service is oil well cementing which was offered by the founder Erle Palmer Halliburton. This process keeps oil from being contaminated by theunderground water; it strengthens the wall’s well, it reduces the danger of explosions, and protects fresh water veins from contamination by oil.
Erle Halliburton learned the cementing technique in California with the Perkins Oil Well Cementing Company and was fired for giving too many suggestions. In order to start independently he borrowed a pump and wagon by giving some of his personal things asfinance. He went to Burkburnett, Texas, to introduce his ideas to the oil industry. His ideas weren’t of some much interest so he took his idea to Oklahoma were he started to succeed. In 1920 Erle started with the Halliburton Oil Well Cementing Company. A year later, his people were already drilling in different states of the USA. His equipment was very reliable, for example its jet-mixer, whichcontrolled cement and water proportions exactly.
By 1922, the company owned $14,000 in equipment and would pay its cementers $300 a month. In 1924, Halliburton with his wife Vida decided to expand. To finance they turned their partnership into a corporation and other oil companies started to use Halliburton services in order to have oil wells cemented. In this same year it became a corporation inDelaware and had 52% in stock. After ten years of service Halliburton had improved in all areas and introduced advanced apparatus. In the 1930’s the oil company started to grow more because oil was started to be used on cars. In 1932, it opened four new branches.
In 1940, the company started to expand through South America and earnings the next year reached to $13.5 million, which $2 millionwas net profit. During Pearl Harbor, profits increased.
In 1948, Halliburton shares were offered on the New York Stock Exchange for the first time. Halliburton offered 600,000, to which the Atlantic Refining Company added a further 80,000 shares. 50,000 of these shares were offered to the employees before it was offered to the public.
Every year they will get better equipments and people withmore capacity on the drilling and penetration for the extraction of oil. They increased productivity with a process known as Hydrafrac which used jellied gasoline, pumped under pressure into the bottom of a well to split the rocks. By 1951 the process gave the company $92.6 million n gain.

Between 1950 and 1955, the company expanded greatly. Drilling activity increased dramatically. The companyhad 7,000 employees, and drills probed to more than 4,000 feet in an average well, as compared to 3,600 feet five years earlier. Offered for rental as well as for sale, equipment then included formation testing tools to obtain fluids and pressure readings from oil-bearing rock, plus other new equipment used in well completion operations. Wall cleaners, depth measuring equipment, and productionpackers were other lines that drillers could rent or buy. Services provided by the company included electronic logging and sidewall wellcoring and the transporting of cement and fracturing sands to drilling sites from nearby Halliburton storage areas. Oil exploration in the Texas and Louisiana Gulf Coast areas was flourishing; 23 vessels as well as about $10 million worth of other equipment were...