# Halliburton Company > Clarifo company profile — qualitative business description generated from > the company's filings. Financial statements, charts and ratios are > available on Clarifo (https://www.clarifo.com/en/companies/Halliburton Company). ## Overview Halliburton is a U.S.-based oilfield services company that provides products and technical services used across the full well lifecycle, from locating hydrocarbons and drilling to completion and production optimization. Its business is organized around two operating segments, Completion and Production and Drilling and Evaluation, and it serves major, national, and independent oil and gas producers in more than 70 countries. ## Products & services • Cementing, stimulation and pressure control services • Completion tools, liner hangers and sand control systems • Artificial lift and well intervention services • Drilling, testing, wireline and perforating services • Landmark software and drilling data services • Pipeline and process pre-commissioning services - **Completion and Production** (58%) — Services and equipment used to complete wells, stimulate reservoirs, lift fluids, and optimize production. - **Drilling and Evaluation** (42%) — Drilling, formation evaluation, testing, wireline, and digital workflow services for well construction. - Cementing, stimulation and pressure control services - Completion tools, liner hangers and sand control systems - Artificial lift and well intervention services - Drilling, testing, wireline and perforating services - Landmark software and drilling data services - Pipeline and process pre-commissioning services ## Customers Halliburton sells primarily to oil and natural gas producers, including major integrated companies, national oil companies, and independent E&Ps. Customers buy its services to improve drilling efficiency, increase recovery, and maximize production, with demand tied closely to upstream capital spending and commodity prices. - **Major integrated oil and gas companies** (primary) — Buy broad drilling, completion, and production services for large multi-basin projects and long-cycle developments. - **National oil companies** (primary) — Buy localized field services and project execution capabilities for domestic resource development. - **Independent oil and gas producers** (primary) — Buy completion, drilling, and digital services to improve well productivity and lower lifting costs. - **Pipeline and process operators** (secondary) — Buy pre-commissioning, commissioning, maintenance, and decommissioning services for pipeline and plant assets. - **Energy transition and adjacent markets** (emerging) — Buy carbon capture, geothermal, and clean-tech support services through newer initiatives and Labs. - Major oil and gas producers buying integrated well services - National oil companies needing local execution and scale - Independent E&Ps focused on drilling and completion efficiency - Customers in North America seeking cash-flow discipline - Mexico receivable exposure from a primary customer ## Geography Halliburton operates in more than 70 countries, with business organized around North America, Latin America, Europe/Africa/CIS, and Middle East/Asia. The United States is its largest market at 39% of consolidated revenue in 2025, while no other country exceeded 10%, making the company globally diversified but still meaningfully exposed to U.S. drilling and completion activity. - **United States** (39%) — 2025 consolidated revenue based on location of services provided and products sold. - **Other countries** (61%) — No other country accounted for more than 10% of revenue. - United States was 39% of 2025 consolidated revenue - No other country exceeded 10% of revenue in 2025 - Operations span more than 70 countries worldwide - Primary regions: North America, Latin America, Europe/Africa/CIS, Middle East/Asia - Manufacturing is concentrated in the U.S., Malaysia, Singapore, and the U.K. ## Strategy Halliburton is focused on improving cash generation, capital efficiency, and returns while defending share in core oilfield services markets. It is also extending its technology base into adjacent energy-transition areas such as carbon capture, geothermal, and clean-tech incubation through Halliburton Labs. - **Maintain capital efficiency and strong cash conversion** (short-term) — The business is cyclical and capital intensive, so disciplined capex supports returns and resilience. - **Defend and expand core oilfield services technology** (medium-term) — Differentiated execution in completion and drilling services supports pricing and customer retention. - **Build optionality in energy transition markets** (long-term) — Adjacent markets can diversify growth away from traditional upstream spending cycles. - Improve efficiency and returns through technology-led service execution - Keep capital expenditures near 6% of revenue - Strengthen cash flow and balance sheet flexibility - Develop adjacent businesses in carbon capture and geothermal - Use Halliburton Labs to test clean-tech opportunities at low capital risk ## Risks Halliburton’s results depend heavily on upstream spending, oil and gas prices, and customer capital discipline, so activity can weaken quickly in downturns. The company also faces competitive pricing pressure, receivables collection risk in certain markets, and impairment risk on goodwill and long-lived assets if market conditions deteriorate. - **Upstream capital spending cyclicality** [high] — Customer activity depends on oil and gas prices, budgets, and rig counts. - **Competitive pricing pressure** [high] — Services are sold in highly competitive markets with many substantial competitors. - **Customer receivable delays** [medium] — The company bills in arrears and can face delayed or failed collections. - **Commodity-price-driven impairment risk** [high] — Lower oil and gas prices can reduce expected cash flows and asset values. - Upstream spending cuts reduce drilling and completion activity - Oil and gas price swings drive customer budgets and rig counts - Competitive pricing can pressure margins in service-heavy markets - Receivables collection risk rises when customers delay payments - Goodwill and asset impairments can occur in weak commodity cycles ## Accounting Halliburton’s reported results are sensitive to estimates around credit losses, taxes, legal matters, and asset impairment. Revenue and cash flow can also be affected by project timing and working-capital swings, while goodwill and long-lived asset valuations depend on commodity-price and demand assumptions. - **Allowance for credit losses** — Can change receivable carrying value and earnings - **Goodwill impairment** — Could create large non-cash charges in weak cycles - **Long-lived asset impairment** — Affects operating income and asset base - **Income tax estimates** — Can materially affect tax expense and effective tax rate - Allowance for credit losses affects receivable valuation - Goodwill impairment testing depends on segment cash flow forecasts - Long-lived asset recoverability is tied to commodity and demand assumptions - Tax provisions and deferred tax assets require judgment - Legal and investigation reserves can move earnings --- *Last updated: 2026-08-11T04:03:56.228997+00:00*