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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)
JULY 14, 1995
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
Page 1 of 7 pages
The Exhibit Index appears on Page 4
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 July 14, 1995, the registrant issued a press release entitled
Halliburton Announces Agreements to Settle Export Investigation pertaining,
among other things, to an announcement that registrant has agreed with the U.S.
Department of Justice and the U.S. Department of Commerce to settle civil and
criminal charges arising from certain exports that were made by former
subsidiaries of the registrant. Registrant has agreed to plead guilty in U.S.
Federal Court in Houston to three violations of the U.S. export control law
which prohibits the export of U.S. goods and services to Libya and has agreed to
pay a fine of $1.2 million. Registrant has also reached an agreement with the
Department of Commerce in settlement of proposed civil charges relating to
alleged violations of the Export Administration Act. Registrant will pay an
additional civil fine of $2.61 million.
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 July 14, 1995
Page 2 of 7 pages
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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 17, 1995 By: _______________________
Robert M. Kennedy
Vice President - Legal
Page 3 of 7 pages
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EXHIBIT INDEX
Exhibit Sequentially
Number Description Numbered Page
20 Press Release of
July 14, 1995 5 of 7
Incorporated by Reference
Page 4 of 7 pages
The Exhibit Index appears on Page 4
FOR IMMEDIATE RELEASE Contact - Guy T. Marcus
July 14, 1995 Vice President-Inv. Rel.
(214) 978-2691
HALLIBURTON ANNOUNCES AGREEMENTS TO SETTLE EXPORT INVESTIGATION
DALLAS, Texas -- Halliburton Company announced today that it has agreed
with the U.S. Department of Justice and the U. S. Department of Commerce to
settle civil and criminal charges arising from certain exports that were made by
former subsidiaries of the Company.
As a result of the settlement, Halliburton has agreed to plead guilty in
U.S. Federal Court in Houston to three violations of the U.S. export control law
which prohibits the export of U.S. goods and services to Libya and has agreed to
pay a fine of $1.2 million. The United States Attorney in Houston has filed
charges with the Federal Court and Halliburton will enter its plea within the
next few weeks. These violations relate to shipments of components of oil field
wireline logging tools by one of Halliburton's former domestic subsidiaries to a
foreign subsidiary for performance of oil field services for Libyan national oil
companies. The shipments occurred during late 1987 to early 1990. These tools
are no longer in Libya, and while there, they were always in the possession of a
Halliburton foreign subsidiary.
Halliburton also has reached agreement with the Department of Commerce for
the entry of an order in settlement of proposed civil charges relating to
alleged violations of the Export Administration Act. This order involves
shipments to Libya by this same former subsidiary, as well as other exports and
reexports of geophysical equipment and services to Libya by another former
subsidiary during the same general time period. The agreement with the
Department of Commerce calls for Halliburton to pay an additional civil fine of
$2.61 million. The order will be entered when the plea is accepted by the
Federal Court.
These settlements will not impair Halliburton's ability to export products,
services or technology in compliance with applicable law. The cost of this
settlement has been provided for by Halliburton in prior accounting periods and
it will not affect Halliburton's financial results in the future.
Thomas H. Cruikshank, Chairman and Chief Executive Officer of Halliburton,
stated: "These exports to Libya should not have happened. They were contrary to
our Company's policies then and now. Unfortunately our internal export control
procedures and training were not sufficient at that time to prevent these
shipments. Since then, we have tightened our export control procedures and
re-educated our executives and other employees who manage our exports concerning
the requirements of applicable U.S. law. We have stressed to our executives and
other employees that it is the policy of our Company that we will strictly
observe such laws. The Company regrets that these violations occurred and will
continue to take action to prevent future violations."
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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