Halliburton Filed Claims Against BP In Texas State Court

- Halliburton Filed Claims Against BP In Texas State Court



Sep 2, 2011

Halliburton (NYSE:HAL) filed claims against BP (NYSE:BP) in Texas state court for negligent misrepresentation, business disparagement and defamation related to the April 20, 2010, Macondo incident.

The company also moved to amend its claims against BP in the multi-district litigation in New Orleans, Louisiana, to include fraud.

Halliburton has a potential upside of 66.9% based on a current price of $43.02 and an average consensus analyst price target of $71.79.

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- Halliburton Sues BP In Texas - Alleges Misrepresentation <<


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Halliburton Planning To Hire 11,000 In 2011

- Halliburton Planning To Hire 11,000 In 2011



Aug 25, 2011

Halliburton (NYSE:HAL) plans to hire 11,000 workers in North America in 2011, according to a top executive who told Jim Cramer on CNBC's Mad Money on Wednesday.

The president of the Western Hemisphere, Jim Brown said many of the new hires will be sent to North Dakota's oil-rich Bakken shale, which is one of the largest oil finds in the U.S.

Brown commented, "If you have a willingness to work and an aptitude to learn with a high school education, within a year-and-a-half to two years, you can become a front-line supervisor. That job will pay $125,000 to $130,000 a year. It's a tremendous opportunity. You gotta come to North Dakota, but what we're doing here, we're replicating across the nation."

Halliburton (NYSE:HAL) has a potential upside of 79.6% based on a current price of $40.27 and an average consensus analyst price target of $72.31.

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Halliburton Tops Q2 EPS Estimates, Revenue Totals $5.9 Billion

- Halliburton Tops Q2 EPS Estimates, Revenue Totals $5.9 Billion

Jul 18, 2011

Halliburton (NYSE:HAL) reported Q2 EPS of 81 cents, ex-items, topping estimates of 73 cents per share. Revenue rose 34% year-over-year to $5.9 billion, better than the $5.7 billion analysts were expecting.

International revenue grew 8% vs the prior quarter while North America rose 16% sequentially.

Dave Lesar, chairman, president, and chief executive officer said, "We have for some time expressed confidence in the strength of the North America cycle, and our results this quarter validate our positive view on the market. Strong crude prices, operators' improved cash flows combined with their ability to access capital, and the increasingly liquids-rich nature of the United States land market, give us continued confidence in the strength of North America through 2012."

Halliburton (NYSE:HAL) has a potential upside of 20.1% based on a current price of $53.08 and an average consensus analyst price target of $63.76.

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Halliburton awarded contract from Chevron for integrated services

- Halliburton awarded contract from Chevron for integrated services



Jul 13, 2011

Halliburton (NYSE:HAL) announced that it has been awarded a contract from Chevron (NYSE:CVX) for integrated services for shale natural gas exploration in Poland. Work on the initial shale gas exploration drilling program is expected to begin in the fourth quarter and the contract award is for three years, with extension opportunities. Halliburton services to be provided will include drilling services, mud logging, cementing, coiled tubing, slickline services, well testing, completion and hydraulic fracturing. Halliburton will support the project with project management services. Halliburton has a potential upside of 21.1% based on a current price of $52.66 and an average consensus analyst price target of $63.76. Halliburton is currently above its 50-day moving average (MA) of $48.44 and above its 200-day of $43.06. In the last five trading sessions, the 50-day MA has climbed 0.31% while the 200-day MA has risen 0.73%.

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Transocean Counter Sues BP, Among Others, Over Oil Spill Liabilities

Transocean Counter Sues BP, Among Others, Over Oil Spill Liabilities



Apr 21, 2011

As the legal battle over the offshore drilling disaster in the Gulf of Mexico continues to expand, Transocean said today it has filed cross claims against BP and other entities involved in last year's spill.

Yesterday BP filed suit against Transocean, which owned and operated the Deepwater Horizon offshore drilling rig, and Cameron International, which manufactured a critical safety device intended to shut down the well in an emergency.

BP also filed suit against Halliburton, accusing that company of concealing information about its cement slurry that could have prevented the disaster The claims were filed in federal court in New Orleans.

The BP suit said that Transocean is responsible for the failures of safety devices and control procedures and is seeking at least $40 billion in damages. Transocean said in its suit that BP agreed to assume full responsibility for any "loss, expense, claim, fine, penalty or liability" for pollution or contamination in the drilling contract the two companies signed.
Shares of Transocean are trading down 1.39%.

Halliburton Topped Q1 Estimates, Top Line Surged 40% YoY

Halliburton Topped Q1 Estimates, Top Line Surged 40% YoY



Apr 18, 2011

Halliburton (NYSE:HAL) reported Q1 EPS of $0.61, ex-items, ahead of consensus estimates of $0.58 per share. Revenues for the quarter rose 40% year-over-year to $5.28 billion, topping consensus estimates of $4.89 billion.

Dave Lesar, chairman, president and chief executive officer said, "I am extremely pleased with our Q1 results, as overall revenue in the first quarter set a company record of $5.3 billion. North America delivered strong performance as margins progressed due to increased activity while Eastern Hemisphere operating income was significantly impacted by geopolitical events in North Africa, delays in Iraq, and typical seasonality."

Halliburton Gets ExxonMobil Contract in Iraq - Shares Down 2.4%

Halliburton Gets ExxonMobil Contract in Iraq - Shares Down 2.4%



Shares of Halliburton (HAL) are down as the company said it has been awarded a contract by Exxon Mobil (XOM) Iraq Limited to provide drilling services for 15 wells in the West Qurna oil field located in Southern Iraq.

Halliburton will provide a range of well construction services utilizing three drilling rigs to safely deliver the wells, the company said in a statement.

Halliburton shares are down 2.35%, or $1.12, to $47.02.

Halliburton Awarded Multiple Statoil Contracts For North Sea Drilling

Halliburton Awarded Multiple Statoil Contracts For North Sea Drilling



Halliburton (NYSE:HAL) has been awarded several contracts by Statoil (NYSE:STO) to provide services for two high-pressure and high-temperature drills off the shore of Norway's coast in the North Sea.

Halliburton estimates the value of these multiyear deals has the potential to exceed $200 million.

Under the contracts, Halliburton will provide directional drilling, logging-while-drilling, cementing, drilling fluids, and completion equipment and related services at the Gudrun and Brynhild fields.

Drilling is scheduled to begin in the third quarter of 2011.