Introduction

As one of the largest global providers of products and services to the energy industry, Halliburton has played an integral role in advancing oil and gas extraction technologies over the past century. From pioneering offshore drilling to developing digital fracturing techniques, Halliburton’s innovations have cemented its status as an industry leader. With operations spanning more than 70 countries, Halliburton serves the full lifecycle needs of hydrocarbon wells, from drilling and evaluation to completion and production optimization. Its growth over the decades has been fueled by key mergers, acquisitions, and organic research and development. Today, Halliburton’s technological capabilities and global footprint continue to drive its success in the competitive oilfield services sector.

History and Overview

The Halliburton Company has its roots in a 1919 cementing business started by Erle P. Halliburton in Duncan, Oklahoma. Recognizing the need for cement products to prevent oil well walls from collapsing during drilling, Halliburton launched the New Method Oil Well Cementing Company to market his innovative cement. The company was renamed the Halliburton Oil Well Cementing Company in 1920 and eventually incorporated in Delaware as the Halliburton Company in 1924.

In the 1940s, Halliburton invented the revolutionary three-cone drill bit which enabled faster penetration into difficult formations. In 1957, the company created an engineering and construction subsidiary called Brown & Root which later helped expand Halliburton’s services outside oilfield operations. One of Halliburton’s most momentous technological achievements came in 1961 with cementing the first ever offshore subsea well in the Gulf of Mexico, paving the way for deepwater drilling.

Through the 1960s and 1970s, Halliburton continued expanding globally, providing cementing services on landmark projects like the Alaska Pipeline and the Ekofisk offshore development in the North Sea. The company evolved from focusing predominantly on cementing to providing a suite of oilfield services. In the 1980s, Halliburton was involved in cementing high profile wells like the deepest offshore well at the time in the Gulf of Mexico.

The 1990s and 2000s saw Halliburton grow substantially through acquisitions, including Brown and Root, Baroid Corporation, and Boots and Coots. These expanded Halliburton’s technology portfolio and strengthened its position across drilling, evaluation, completion, and production services. The increased shale activity in North America in the early 2000s drove demand for Halliburton’s hydraulic fracturing expertise. Having cementing more ultra-deepwater wells than any competitor, Halliburton cemented its place as an innovation leader.

Halliburton underwent a period of growing through acquisition followed by a shift to focusing on research and development. In 2014, the company opened a state-of-the-art R&D facility in Houston with the goal of developing more technologies in-house. Today, Halliburton continues to leverage both acquisition and organic innovation to remain at the forefront of the industry.

Now a Fortune 500 company headquartered in Houston, Texas, Halliburton has over 55,000 employees representing 130 nationalities across more than 80 countries. It serves the entire upstream exploration and production ecosystem, providing solutions spanning the lifecycle of oil and gas assets.

Key Business Segments

Halliburton operates under two primary business segments – Completion and Production, and Drilling and Evaluation:

Completion and Production

This division focuses on services related to completing wells and optimizing their production, including:

• Cementing – Halliburton’s cementing capabilities cover everything from basic zonal isolation to specialized applications like ultra-deepwater high pressure high temperature (HPHT) wells. They offer tailored cement blends, additives, and state-of-the-art equipment like the OptiCem advanced cementing system.
• Stimulation – Halliburton’s expertise in hydraulic fracturing and acidizing helps maximize well production. They use technologies like their EarthStar fracturing technique which pumps fluid at high rates while rotating coiled tubing to penetrate complex geology.
• Intervention – Halliburton provides well intervention services like slickline, electric line, and coiled tubing operations to service existing well completions.
• Production optimization – Solutions like SmartWell systems with downhole monitoring and control allow operators to maximize output from mature fields. Halliburton also offers production enhancement chemicals.

Drilling and Evaluation

This division supports efficient drilling and assessing hydrocarbon resources through:

• Drilling services – Halliburton provides everything from basic drilling fluid systems to project management of highly complex wells like extreme HPHT environments. Their DrillSmart® Suite automates aspects of drilling for improved performance.
• Drilling tools – Halliburton designs and manufactures drill bits, bottom hole assemblies, reamers, and other drilling tools. This includes their Viper® and FangTM roller cone bits and KymeraTM hybrid drill bits.
• Wireline and perforating – Halliburton’s wireline services provide wellbore data acquisition and reservoir evaluation. Their perforating technologies allow completion of cased well sections.
• Fluid systems – In addition to drilling fluids, Halliburton offers customized solutions for cementing, stimulation, and production enhancement. Their UniStimSM service blends fracturing fluids onsite to optimize production.
• Reservoir evaluation – Technologies like microseismic fracture mapping and reservoir modeling allow operators to assess resources for exploration and development.

Global Operations

With major manufacturing operations in around 30 countries, Halliburton serves oil and gas customers in over 70 nations across six continents. Some of their key geographic operating regions include:

• North America – Around 40% of Halliburton’s business comes from the United States and Canada. The majority of their hydraulic fracturing services support increased North American shale activity.
• Latin America – Key countries served include Mexico, Brazil, Argentina, Colombia and Venezuela. Halliburton supports offshore projects in the region as well as shale development.
• Europe/Africa/CIS – Operations in the North Sea, Russia, Middle East and North Africa. They serve offshore projects and support unconventional resource development.
• Asia Pacific – Operations across Southeast Asia, China, Australia and India. Deepwater and shale activities drive demand in the region.

To support remote operations management, Halliburton established the first digital operations center of its kind in 2008. Their global network of Integrated Operations Centers allows real-time monitoring and communication with well sites around the world.

Technological Innovation

Halliburton has continually introduced new innovations that push the boundaries of oilfield technology:

• Roller cone drill bit – In the 1940s, Halliburton invented the revolutionary three-cone rotary drill bit enabling faster penetration rates. This bit was a precursor to all modern roller cone bits.
• Offshore cementing – Halliburton cemented the first Gulf of Mexico offshore subsea well in 1961, proving the viability of offshore drilling and leading to expanded deepwater exploration.
• Digital fracture mapping – Recently, Halliburton introduced the use of microseismic analysis to create digital 3D fracture models to optimize fracture placement and well spacing.
• Automated drilling – Technologies like their DrillSmart® Suite introduced in 2016 allow for the automation of key drilling functions like controlling weight on bit and drill string rotation to improve efficiency.
• Remote operations – Halliburton’s global network of digital Integrated Operations Centers implemented in 2008 was the first for remote, real-time monitoring and communication with well sites around the world.
• Nanotechnology – Halliburton utilizes nanotechnology to create solutions like customized droplets that seal pores in formations to limit water or gas intrusion.
• Machine learning – Halliburton is incorporating machine learning for predictive analytics. This allows optimization of operations like predicting ideal fracture propagation paths.

Conclusion

From cementing the earliest oil wells in Oklahoma to pioneering digital fracture mapping, Halliburton has been at the forefront of technological progress in oilfield services for over a century. Its investments in research and development continue to drive innovation across drilling, completion, production, and evaluation services. With its expertise supporting complex drilling environments and global footprint spanning key oil and gas markets, Halliburton is positioned to maintain its leadership in the competitive and rapidly evolving oilfield services sector.