type public traded as nyse hal s & p 500 component industry oilfield services & equipment 1 founded 1919 duncan oklahoma usa 2 founder erle p. halliburton headquarters houston texas usa area served worldwide key people david lesar chairman and ceo and jeff miller president products products and services to the energy industry 3 revenue us 32.87 billion 2014 4 operating income us 5.10 billion 2014 4 net income us 3.50 billion 2014 4 total assets us 32.24 billion 2014 4 total equity us 16.27 billion 2014 4 number of employees 70 000 5 website halliburton.com the halliburton company h l b rt n is an american multinational corporation and one of the world s largest 6 oil field services companies with operations in more than 80 countries . it owns hundreds of subsidiaries affiliates branches brands and divisions worldwide and employs approximately 70 000 people . 5 the company has dual headquarters located in houston and in dubai where chairman and ceo david lesar works and resides to focus the company s eastern hemisphere growth . 7 the company remains incorporated in the united states . 8 9 10 halliburton s major business segment is the energy services group esg . esg provides technical products and services for petroleum and natural gas exploration and production . halliburton s former subsidiary kbr is a major construction company of refineries oil fields pipelines and chemical plants . halliburton announced on april 5 2007 that it had sold the division and severed its corporate relationship with kbr which had been its contracting engineering and construction unit as a part of the company . 11 the company has been involved in numerous controversies including the deepwater horizon explosion for which it agreed to settle outstanding legal claims against it by paying litigants 1.1 billion . as of august 1 2014 jeff miller was promoted to president of halliburton reporting directly to dave lesar . contents 1 business overview 1.1 locations 1.2 divisions 2 history 2.1 early history as howco 2.2 as halliburton 2.3 1990s 2.4 2000s 2.5 acquisition of baker hughes 3 controversies 3.1 deepwater horizon explosion 3.2 allegations of corruption in nigeria 3.3 environmental issues 3.4 jamie leigh jones incident 3.5 sale of kbr 3.6 baghdad incident 3.7 restatements 4 subsidiaries 5 corporate affairs 5.1 headquarters 6 see also 7 references 8 further reading 9 external links business overview edit halliburton annual revenue locations edit u.s. regional office locations are anchorage alaska ; bakersfield california ; denver colorado ; new iberia louisiana ; houma louisiana ; new orleans louisiana ; shreveport louisiana ; lafayette louisiana ; oklahoma city oklahoma ; homer city pennsylvania ; farmington new mexico ; hobbs new mexico ; naples utah ; carrollton texas ; alvarado texas ; fort worth texas ; odessa texas ; san antonio texas . major international offices are in canada mexico venezuela colombia argentina panama bolivia brazil ecuador algeria angola egypt gabon nigeria cameroon republic of congo libya austria new zealand germany italy netherlands norway united kingdom france spain australia russia china india iran thailand malaysia indonesia vietnam japan singapore pakistan u.a.e. oman yemen saudi arabia and iraq . worldwide technology centers are in duncan oklahoma ; carrollton texas ; houston texas ; stavanger norway ; pune india ; and singapore . divisions edit energy services the company s historical cornerstone formation evaluation digital and consulting solutions production volume optimization and fluid systems are the major business segments . these businesses continue to be profitable and the company is one of the world s largest players in these service industries ; it is second after schlumberger and is followed by saipem weatherford international and baker hughes . 12 with the acquisition of dresser industries in 1998 the kellogg brown & root division in 2002 renamed to kbr was formed by merging halliburton s brown & root acquired 1962 subsidiary and the m.w. kellogg division of dresser which dresser had merged with in 1988 . kbr is a major international construction company that works in an industry that tends to have an element of volatility and is subject to significant fluctuations in revenue and profit . asbestos related litigation from kellogg acquisition caused the company to book more than us 4.0 billion in losses from 2002 through 2004 . as a result of the asbestos related costs and staggering losses on the barracuda caratinga fpso construction project based in rio de janeiro brazil halliburton lost approximately 900 million u.s. a year from 2002 through 2004 . a final non appealable settlement in the asbestos case was reached in january 2005 which allowed halliburton subsidiary kbr to exit chapter 11 bankruptcy and returned the company to quarterly profitability . while halliburton s revenues have increased because of its contracts in the middle east the overall impact on its bottom line has been mixed . 13 at a meeting for investors and analysts in august 2004 a plan was outlined to divest the kbr division through a possible sale spin off or initial public offering . analysts at deutsche bank valued kbr at up to 2.15 billion while others believed it could be worth closer to 3 billion by 2005 . kbr became a separately listed company on april 5 2007 . 11 history edit early history as howco edit in 1919 erle p. halliburton started the new method oil well cementing company . 5 halliburton research center in duncan oklahoma the city which was the original headquarters of halliburton company halliburton oak park offices in westchase and in chinatown in houston in 1920 he brought a wild gas well under control using cement for w.g. skelly near wilson oklahoma . 14 on march 1 1921 the halliburton method and means of excluding water from oil wells was assigned a patent from the u.s. patent office . halliburton invented the revolutionary cement jet mixer to eliminate hand mixing of cement and the measuring line a tool used to guarantee cementing accuracy . 14 by 1922 the halliburton oil well cementing company howco was prospering from the mexia texas oil boom having cemented its 500th well in late summer . 15 in 1924 the company was incorporated in delaware with 56 people on its payroll . the stock of the corporation was owned by erle and vida halliburton and by seven major oil companies magnolia texas gulf humble sun pure and atlantic . 16 in 1926 its first foreign venture began with sale of equipment to burma and india . 17 throughout the 1930s and 1940s halliburton continued cementing across america . 15 18 in 1938 halliburton cemented its first offshore well using a truck on a barge off the louisiana coast . 17 in 1940 halliburton opened offices in venezuela and introduced bulk handling of cementing to the industry . 16 in 1947 the halliburton first marine cementing vessel went into service . 14 in 1951 halliburton first appeared in europe as halliburton italiana spa a wholly owned subsidiary in italy . over the next seven years halliburton launched halliburton company germany gmbh set up operations in argentina and established a subsidiary in england . by 1951 howco had service centers operating in canada venezuela peru colombia saudi arabia and indonesia . 15 halliburton revenues topped 100 million for the first time in 1952 . 15 erle p. halliburton died in los angeles in 1957 . howco is at this time worth 190 million with camps all over the world . the same year howco purchased welex which pioneered jet perforation . 15 otis engineering an oil field service and equipment company specializing in manufacturing pressure control equipment for oil and gas producing wells was acquired in 1959 . 15 as halliburton edit on july 5 1961 the company changed its name to the halliburton company . in 1963 halliburton was the first company in oklahoma to receive the presidential e for export flag in recognition of notable contributions to foreign trade . 15 halliburton opened a 500 000 sq ft 46 000 m2 manufacturing center in duncan oklahoma in 1964 . 15 the company began to experiment with new technologies to help their services for example beginning in 1965 a pilot operation of a computer network system the first such installation in the oilfield services industry . 15 in 1966 workers broke ground for a new wing at the research center in duncan that tripled the available space for the chemical research and design department . 15 in 1968 an automated mixing system for drilling mud was developed by halliburton primarily for use offshore . 15 gearhart industries acquired by halliburton energy services in 1989 introduced the first digital computer logging system in 1974 . 15 in 1969 halliburton began construction of a base camp at prudhoe bay on alaska s north slope . 15 in 1975 it responded to environmental concerns by working with the nonprofit clean gulf associates to contain and clean up oil spills . 15 in 1976 halliburton established the halliburton energy institute in duncan oklahoma to provide an industry forum for disseminating technical information . 15 lincoln plaza in downtown dallas which at one time housed the halliburton headquarters in 1980 halliburton research center opened in duncan oklahoma . 15 the company s billionth sack of cement for customers was pumped in 1983 . 15 in 1989 halliburton acquired logging and perforating specialist company gearhart industries and combined it with its subsidiary welex to form halliburton logging services . throughout the 1980s halliburton s subsidiaries continued their projects around the world under management of former ceo brian darcy even in countries once considered enemies . equipment was provided for the first multiwell platform offshore china and an otis engineering team controlled a gigantic tengiz field blowout in the soviet union . 15 1990s edit following the end of operation desert storm in february 1991 the pentagon led by then defense secretary dick cheney paid halliburton subsidiary brown & root services over 8.5 million to study the use of private military forces with american soldiers in combat zones . 19 halliburton crews also helped bring 725 burning oil wells under control in kuwait . 20 in 1995 cheney replaced thomas h. cruikshank as chairman and ceo . cruikshank had served since 1989 . 21 in the early 1990s halliburton was found to be in violation of federal trade barriers in iraq and libya having sold these countries dual use oil drilling equipment and through its former subsidiary halliburton logging services sending six pulse neutron generators to libya . after having pleaded guilty the company was fined 1.2 million with another 2.61 million in penalties . 22 during the balkans conflict in the 1990s kellogg brown root kbr supported u.s. peacekeeping forces in bosnia and herzegovina croatia and hungary with food laundry transportation and other life cycle management services . 23 in 1998 halliburton merged with dresser industries which included kellogg . prescott bush was a director of dresser industries which is now part of halliburton ; his son former president george h. w. bush worked for dresser industries in several positions from 1948 to 1951 before he founded zapata corporation . 24 2000s edit 5 houston center in downtown houston which at one time housed the headquarters of halliburton the wall street journal reported in 2001 that a subsidiary of halliburton energy services called halliburton products and services ltd. hps opened an office in tehran . the company hps operated on the ninth floor of a new north tehran tower block . although hps was incorporated in the cayman islands in 1975 and is non american it shares both the logo and name of halliburton energy services and according to dow jones newswires offers services from halliburton units worldwide through its tehran office . such behavior undertaken while cheney was ceo of halliburton may have violated the trading with the enemy act . a halliburton spokesman responding to inquiries from dow jones said this is not breaking any laws . this is