Summit’s Electric Submersible Pump System Expands Halliburton
Artificial Lift Portfolio
HOUSTON--(BUSINESS WIRE)--Jul. 5, 2017--
Halliburton Company (NYSE: HAL) today announced the acquisition of
Summit ESP, a leading provider of electric submersible pump (ESP)
technology and services. The addition of Summit’s artificial lift
offerings and industry-leading customer service strengthens
Halliburton’s artificial lift portfolio for its global customers.
“The acquisition of Summit expands Halliburton’s existing artificial
lift capabilities and increases our overall leading position in North
America oilfield services,” said Jeff Miller, president and CEO of
Halliburton. “Summit’s unrivaled service quality, proven technology and
U.S. market leadership make it a perfect fit for Halliburton. This
accretive transaction accelerates our strategy to deliver leading
returns to our shareholders and maximize asset value for our customers.”
John Kenner, president and chief executive officer of Summit said,
“We’re proud of the company we’ve built and thank our employees for
their commitment to the company and for providing outstanding service
quality to our customers. The combination of Halliburton and Summit
creates exciting opportunities for both our customers and employees. We
look forward to capitalizing on Halliburton's deep customer
relationships and international presence to accelerate our growth.”
Summit engineers, manufactures, and services a complete product offering
of electric submersible and surface pumping systems. Based in Tulsa,
Okla., Summit has more than 500 employees in almost 30 locations across
North America.
About Halliburton
Founded in 1919, Halliburton is one of the world's largest providers of
products and services to the energy industry. With approximately 50,000
employees representing 140 nationalities, and operations in
approximately 70 countries, the company serves the upstream oil and gas
industry throughout the lifecycle of the reservoir – from locating
hydrocarbons and managing geological data, to drilling and formation
evaluation, well construction, completion and production optimization.
Visit the company’s website at www.halliburton.com.
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View source version on businesswire.com: http://www.businesswire.com/news/home/20170705005149/en/
Source: Halliburton
Halliburton
For Investors:
Lance Loeffler,
281-871-2688
Halliburton, Investor Relations
Investors@Halliburton.com
or
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Emily Mir, 281-871-2601
Halliburton, Public
Relations
PR@Halliburton.com
