Press Release

HOUSTON--(BUSINESS WIRE)--Nov. 24, 2009-- Halliburton (NYSE: HAL) today announced a major reduction in activity from its primary customer in Mexico, Petróleos Mexicanos (Pemex), for the fourth quarter of 2009.

Halliburton’s work in the Burgos, Veracruz, and southern areas are being impacted by Pemex’s decision to significantly reduce activity due to low natural gas prices and other constraints. The impact of these activity reductions is currently expected to be approximately $0.02 in earnings per share for the fourth quarter of 2009.

Halliburton has operated in Mexico for more than 60 years.

Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry. With more than 50,000 employees in approximately 70 countries, the company serves the upstream oil and gas industry throughout the life cycle of the reservoir-from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production through the life of the field. Visit the company's Web site at www.halliburton.com.

Forward-Looking Statements: The statements in this press release that are not historical statements, including statements regarding future financial performance, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks and uncertainties, many of which are beyond the company's control, which could cause actual results to differ materially from the results expressed or implied by the statements. These risks and uncertainties include, but are not limited to: changes in capital spending by customers; execution of long-term, fixed-price contracts; changes in the demand for or price of oil and/or natural gas; structural changes in the oil and natural gas industry; consequences of audits and investigations by domestic and foreign government agencies and legislative bodies and related publicity; potential adverse proceedings by such agencies; protection of intellectual property rights; compliance with environmental laws; changes in government regulations and regulatory requirements, particularly those related to radioactive sources, explosives, and chemicals; compliance with laws related to income taxes and assumptions regarding the generation of future taxable income; unsettled political conditions, war, and the effects of terrorism, foreign operations, and foreign exchange rates and controls; weather-related issues including the effects of hurricanes and tropical storms; impairment of oil and gas properties; increased competition for employees; availability of raw materials; and integration of acquired businesses and operations of joint ventures. Halliburton's Form 10-K for the year ended December 31, 2008, Form 10-Q for the quarter ended September 30, 2009, and recent Current Reports on Form 8-K, and other Securities and Exchange Commission filings discuss some of the important risk factors identified that may affect the business, results of operations, and financial condition. Halliburton undertakes no obligation to revise or update publicly any forward-looking statements for any reason.

Source: Halliburton

Halliburton, Investor Relations
Christian Garcia, 281/871-2688
or
Halliburton, Corporate Affairs
Cathy Mann, 281/871-2601