Skip to main content
C
CorpDigest
Search

Halliburton Company

Oilfield Services & EquipmentFounded 1919
Reviewed by Swet Parvadiya
Company data updated: October 2026

Acquisitions

Halliburton Acquisitions

4

Major Deals Covered

$7.7B

Disclosed Deal Value

What are Halliburton's biggest acquisitions?

Halliburton's largest disclosed acquisition here is Dresser Industries for $7.7B in 1998. This page covers 4 major deals from 1957 to 1998, each with its price where disclosed and the reason behind it.

Major deals covered
4
Largest deal
Dresser Industries ($7.7B)
First deal
1957
Most recent
1998
CompanyYearPricePurpose
Brown & Root1962$36.7MHalliburton acquired Brown & Root of Houston to add industrial and marine engineering and construction capabilities. Brown & Root built large projects including the NASA Manned Spacecraft Center (now the Johnson Space Center).
Dresser Industries1998$7.7BHalliburton merged with Dresser Industries in a $7.7 billion deal to create a diversified energy services and equipment giant. The merger combined Halliburton's oilfield services with Dresser's engineering, equipment, and M.W. Kellogg subsidiary, creating Kellogg Brown & Root (KBR).
Welex Jet Services1957UndisclosedHalliburton acquired Welex Jet Services of Fort Worth to expand its service capabilities into well logging and perforating, complementing the company's cementing and stimulation businesses.
Otis Engineering Corporation1959UndisclosedHalliburton acquired Otis Engineering Corporation of Dallas to expand its production services capabilities, particularly in well completion and artificial lift technologies.
What companies has Halliburton bought?
Major acquisitions by Halliburton documented here include Dresser Industries (1998), Brown & Root (1962), Otis Engineering Corporation (1959) and Welex Jet Services (1957).
What is Halliburton's most recent acquisition?
The most recent Halliburton acquisition documented here is Dresser Industries, in 1998, for $7.7B.

Dresser Industries

1998

$7.7B

Why

Halliburton merged with Dresser Industries in a $7.7 billion deal to create a diversified energy services and equipment giant. The merger combined Halliburton's oilfield services with Dresser's engineering, equipment, and M.W. Kellogg subsidiary, creating Kellogg Brown & Root (KBR).

Impact

The merger created one of the largest energy services companies in the world, with combined revenues exceeding $17 billion. KBR became a major government contractor, particularly during the Iraq War, but also created strategic and reputational challenges that would lead to its eventual spin-off.

Outcome

The merger loaded Halliburton's balance sheet with debt and created organizational complexity. KBR was spun off in 2007, and Halliburton refocused on core oilfield services. The Dresser merger remains a cautionary tale about the risks of large-scale diversification in the energy sector.

Source →

Brown & Root

1962

$37M

Why

Halliburton acquired Brown & Root of Houston to add industrial and marine engineering and construction capabilities. Brown & Root built large projects including the NASA Manned Spacecraft Center (now the Johnson Space Center).

Impact

The acquisition diversified Halliburton beyond oilfield services into government contracting and large-scale construction. Brown & Root became a significant revenue contributor and eventually evolved into Kellogg Brown & Root (KBR), which would become embroiled in controversy during the Iraq War before being spun off in 2007.

Outcome

Brown & Root was eventually spun off as KBR in 2007, allowing Halliburton to refocus on core oilfield services. The acquisition and subsequent divestiture demonstrated the challenges of maintaining a diversified conglomerate in the cyclical energy sector.

Source →

Otis Engineering Corporation

1959

Why

Halliburton acquired Otis Engineering Corporation of Dallas to expand its production services capabilities, particularly in well completion and artificial lift technologies.

Impact

The acquisition strengthened Halliburton's position in well completion and production optimization, adding artificial lift and completion tools that would become important revenue drivers in subsequent decades.

Outcome

Otis's technologies were integrated into Halliburton's Completion and Production segment and contributed to the company's leadership in well completion services.

Source →

Welex Jet Services

1957

Why

Halliburton acquired Welex Jet Services of Fort Worth to expand its service capabilities into well logging and perforating, complementing the company's cementing and stimulation businesses.

Impact

The acquisition added well logging and perforating capabilities that became core components of Halliburton's Drilling and Evaluation segment. These services provide critical reservoir data and well completion operations.

Outcome

Welex's technology and expertise were integrated into Halliburton's broader service portfolio and remain part of the company's wireline and perforating business today.

Source →

Halliburton Company's Growth & Acquisition Strategy

Halliburton's growth plan has three parts. First, grow international revenue through long-term contracts with national oil companies and offshore projects in Latin America, the Middle East and Europe/Africa. Second, make North American completions more profitable by switching to Zeus electric fleets and automated fracturing instead of adding capacity. Third, expand higher-margin technology lines such as artificial lift, intervention, drilling automation and Landmark software. The company also sold part of its Multi-Chem specialty chemicals business to Praana Group in Q2 2026, showing it is willing to sell lower-priority assets.

How Halliburton Company Makes Money

Halliburton sells oilfield services, equipment and software to oil and gas producers, from supermajors and national oil companies to independent shale operators. Most revenue is earned per job or per contract. Completion and Production (2025 revenue $12.8 billion) is the larger segment: hydraulic fracturing and other stimulation work, cementing, completion tools, well intervention, artificial lift and production chemicals. Drilling and Evaluation ($9.4 billion) covers directional drilling, drill bits, drilling and completion fluids, wireline logging, testing, project management and Landmark geoscience and engineering software. Revenue depends on customer capital spending, which follows oil and gas prices, rig counts and completion activity. In 2025, $13.1 billion came from international markets and $9.1 billion from North America.

Halliburton Acquisitions FAQ

What are the most transformative corporate acquisitions in the history of Halliburton?

Historically significant acquisitions include Welex Jet Services (1957, jet perforation), Brown & Root (1962, engineering and offshore construction, later spun off as KBR), Landmark Graphics (1996, geoscience software), Dresser Industries (1998, energy equipment), and Summit ESP (2017, electric submersible pumps).

Why was the 1996 acquisition of Landmark Graphics a watershed moment for Halliburton?

Acquiring Landmark Graphics in 1996 for $550 million established Halliburton as a global leader in digital subsurface exploration software, giving the company proprietary seismic interpretation and 3D reservoir simulation tools.

What happened during the attempted merger between Halliburton and Baker Hughes in 2014-2016?

In November 2014, Halliburton agreed to acquire rival Baker Hughes for $34.6 billion. However, in May 2016, the deal was terminated following intense antitrust opposition from the US Department of Justice, with Halliburton paying Baker Hughes a mandatory $3.5 billion termination fee.

How did the acquisition of Summit ESP in 2017 strengthen Halliburton's artificial lift franchise?

Halliburton acquired Summit ESP in 2017, securing one of the fastest-growing artificial lift providers in North America and expanding its electric submersible pump (ESP) manufacturing, installation, and field service capabilities.

Why did Halliburton spin off its engineering and construction subsidiary KBR in 2007?

In April 2007, Halliburton completed the full spin-off of KBR, Inc. (formerly Kellogg Brown & Root), divesting its government contracting and civil infrastructure business to focus 100% of corporate resources on pure-play oilfield services and technology.

How does Halliburton evaluate technology acquisitions and joint development ventures?

Halliburton focuses on targeted bolt-on acquisitions and technology licensing that bring proprietary intellectual property in automated drilling, advanced downhole telemetry, artificial lift, and low-carbon geothermal applications.

How did the acquisition of ResMan in 2020 enhance Halliburton's reservoir diagnostics?

In 2020, Halliburton acquired Norway-based ResMan, securing proprietary chemical tracer technology that allows operators to continuously monitor downhole oil, gas, and water inflow profiles across multi-stage horizontal well completions without costly intervention.

What is Halliburton's strategic M&A approach in the clean technology sector through Halliburton Labs?

Through Halliburton Labs, the company partners with and takes strategic minority equity positions in early-stage clean-tech innovators (in carbon capture, geothermal, and energy storage), supporting them with industrial scaling expertise while securing future commercial rights.

Did Halliburton buy Baker Hughes?

No, it was a massive, historic failure. In 2014, Halliburton agreed to buy its massive rival, Baker Hughes, for $34 billion. However, global antitrust regulators (especially the US DOJ) aggressively sued to block the merger, arguing it would create an illegal duopoly. Halliburton was forced to cancel the deal and pay Baker Hughes a massive $3.5 billion breakup fee.

Related M&A Histories

Compare corporate acquisition records, deal values, and strategic targets

Competitor

Slb

View M&A Histories
Competitor

Baker Hughes

View M&A Histories
Competitor

Chevron

View M&A Histories
Competitor

Exxonmobil

View M&A Histories

Explore Halliburton

Core profile pages, founders and related research hubs for this company.

Content is for informational purposes only. Not financial advice. Data sourced from SEC filings, annual reports, and public records. See our full disclaimer and methodology.