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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (date of earliest event reported)
JUNE 29, 1994
Halliburton Company
(Exact name of registrant as specified in its charter)
State or other Commission IRS Employer
jurisdiction File Number Identification
of incorporation Number
Delaware 1-3492 No. 73-0271280
3600 Lincoln Plaza
500 North Akard Street
Dallas, Texas 75201-3391
(Address of principal executive offices)
Registrant's telephone number,
including area code - 214/978-2600
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INFORMATION TO BE INCLUDED IN REPORT
Item 5. Other Events
The registrant may, at its option, report under
this item any events, with respect to which
information is not otherwise called for by this form,
that the registrant deems of importance to security
holders.
On June 29, 1994, the registrant issued a press
release entitled Halliburton to Invest $400 Million
in Logging Business pertaining, among other things,
to an announcement that over the next five years the
registrant plans to invest more than $400 million to
replace existing field well logging units with a
recently developed integrated logging platform and
roll out its new Logging While Drilling (LWD) system.
The foregoing summary is subject to the full
text of the press release with respect thereto, a
copy of which is attached hereto as Exhibit 20, which
exhibit is incorporated herein by reference.
Item 7. Financial Statements and Exhibits
List below the financial statements, pro forma
financial information and exhibits, if any, filed as
part of this report.
(c) Exhibits.
Exhibit 20 - Press release dated June 29, 1994.
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SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the
undersigned hereunto duly authorized.
HALLIBURTON COMPANY
Date: July 6, 1994 By: (Susan S. Keith)
Susan S. Keith
Vice President
Secretary and Corporate Counsel
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EXHIBIT INDEX
Exhibit Sequentially
Number Description Numbered Page
20 Press Release of
June 29, 1994 5-6 of 6
Incorporated by
Reference
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FOR IMMEDIATE RELEASE Contact Guy T. Marcus
June 29, 1994 Vice Pres.-Inv. Rel.
(214) 978-2691
HALLIBURTON TO INVEST $400 MILLION IN LOGGING BUSINESS
DALLAS, Texas -- Halliburton Company's Halliburton Energy
Services business segment announced today that it will invest
more than $400 million over the next five years in its well
logging products and services. The Company plans to use the
resources to replace existing field units with a recently
developed integrated logging platform and roll-out its new
Logging While Drilling (LWD) system. Halliburton will also
continue its focus on developing innovative logging
technologies that reduce risks for oil and gas operators by
providing highly reliable and accurate logging data.
Integration of the logging business with the Company's
other core products and services such as stimulation and
cementing is providing significant benefits and revealing new
opportunities. "We are fully committed to the logging
business and believe that the opportunities we have in this
area, combined with other key Halliburton technologies, will
put us in a unique position for the future," said Ken LeSuer,
President and Chief Executive Officer for Halliburton Energy
Services.
Cash flow from the logging business is expected to be
used for the increased investment. The business has
significantly improved in the last two years turning from
consuming cash at a rate exceeding $100 million per year to
generating a free cash flow of nearly $30 million in 1993.
6
Halliburton will begin replacing existing logging units
in 1995 with the recently developed EXCELL 2000, a state-of-
the-art logging platform that will also be LWD compatible.
The new unit will enhance the Company's ability to
consistently deliver highly-accurate logging data throughout
its worldwide locations. The system will allow the Company to
greatly improve well-site performance, equipment utilization,
and will provide a standard platform from which new logging
tools and software currently in development can be more
efficiently operated. The Company will also produce and
deploy its new Logging While Drilling system which enable oil
and gas operators to obtain highly accurate measurements for
early formation evaluation during the drilling phase.
Resources committed to new technologies will include new
software for optimum logging data evaluation and presentation,
and solutions for slimhole and high-temperature/high-pressure
conditions.
Halliburton Energy Services, a Halliburton Company
organization, is one of the world's largest suppliers of
energy products and services. Now in its 75th year, the
organization provides a broad range of services and products
to the energy industry worldwide.
Halliburton Company is one of the world's largest
diversified energy services, engineering, maintenance, and
construction companies. Founded in 1919, Halliburton provides
a broad range of energy services and products, industrial and
marine engineering and construction services, and property and
casualty insurance services.
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