View:
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)
SEPTEMBER 24, 1996
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 September 24, 1996, registrant issued a press release entitled
Halliburton to Realign Business Segments pertaining, among other things, to an
announcement that registrant will realign business units within its two business
segments during the 1996 fourth quarter. Registrant's Energy Services segment
will be restructured to consist of its traditional Halliburton Energy Services
lines of business and add Brown & Root Energy Services, Landmark Graphics and a
new company to be formed to be responsible for registrant's contract-to-produce
business. Registrant plans to complete the acquisition of Landmark Graphics in
October 1996. Ken LeSuer has been named chief executive officer of the Energy
Services business segment. W. J. (Zeke) Zeringue, Jr. has been promoted to
president of Halliburton Energy Services. Larry Farmer will continue as
president of Brown & Root Energy Services. Bob Peebler will continue as
president and chief executive officer of Landmark following the acquisition of
Landmark. Norman Chambers has been named as president of the new
contract-to-produce business. Dave Lesar will become president and chief
executive officer of Brown & Root in addition to his duties as registrant's
executive vice president and chief financial officer. Tommy Knight will take
early retirement from Brown & Root.
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 September 24, 1996.
Page 2 of 7 pages
The Exhibit Index appears on Page 4
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: September 25, 1996 By: _______________________
Robert M. Kennedy
Vice President-Legal
Page 3 of 7 pages
The Exhibit Index appears on Page 4
EXHIBIT INDEX
Exhibit Sequentially
Number Description Numbered Page
20 Press Release of
September 24, 1996 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
September 24, 1996 Vice President-Inv. Rel.
(214) 978-2691
HALLIBURTON TO REALIGN BUSINESS SEGMENTS
DALLAS, Texas -- Halliburton Company (NYSE-HAL) today announced that it
will realign business units within its two business segments during the 1996
fourth quarter in order to better meet the growing customer needs for complete
arrays of integrated energy services.
The Energy Services business segment will be restructured to consist of its
traditional Halliburton Energy Services lines of business and add the
capabilities of Brown & Root Energy Services, Landmark Graphics and a new
company to be formed and be responsible for Halliburton's recently introduced
contract-to-produce business. Brown & Root Energy Services, with revenues of
about $540 million during the first six months of 1996, is currently the
upstream oil and gas services business unit associated with the company's
engineering and construction business segment. Halliburton plans to complete the
acquisition of Landmark Graphics, a leading supplier of integrated exploration
and production information systems and professional services to the petroleum
industry, in October 1996. The new contract-to-produce organization is being
formed to create new business opportunities for development, production and
operations of oil and gas fields by integrating Brown & Root Energy Services'
Page 5 of 7 pages
The Exhibit Index appears on Page 4
engineering, construction and project management capabilities with Halliburton
Energy Services' subsurface expertise.
Ken LeSuer, 60, has been named chief executive officer of the Energy
Services business segment. LeSuer has 36 years of experience with Halliburton
and was previously the president and chief executive officer of Halliburton
Energy Services. W.J. (Zeke) Zeringue, Jr., 47, has been promoted from chief
operating officer to president of the Halliburton Energy Services business unit.
Larry Farmer, 56, will continue as president of Brown & Root Energy Services. He
joined the company 20 years ago and has experience in the worldwide business of
engineering and construction of oil and gas production facilities and pipelines.
Bob Peebler, 49, will continue as president and chief executive officer of
Landmark following the acquisition of Landmark. Peebler has been the company's
president and chief executive officer since 1992. Norman Chambers, 47, has been
named to the position of president of the new contract-to-produce business.
Chambers has eleven years of service with the company, most recently as managing
director of Brown & Root Energy Services.
Dave Lesar, 43, will become president and chief executive officer of Brown
& Root in addition to his duties as Halliburton Company's executive vice
president and chief financial officer. Tommy Knight will be taking early
retirement from Brown & Root. Lesar will be forming a team of experienced Brown
Page 6 of 7 pages
The Exhibit Index appears on Page 4
& Root management to establish a new organizational structure capable of
positioning Brown & Root for future growth and success. Lesar will remain in
this role through the reorganization and until a successor is named.
The engineering and construction business segment will continue to consist
of the business operations of Brown & Root, Inc., with the exception of the
Brown & Root Energy Services business. These include the petroleum and
chemicals, pulp and paper, manufacturing, civil, environmental, maintenance and
government businesses.
Dick Cheney, Halliburton Company's chairman of the Board and chief
executive officer, said, "I believe that combining all of Halliburton's energy
services businesses under a common management and operating structure will
enable the company to maximize utilization of its full complement of skills and
expertise. The company's core competencies and ability to integrate and align
with customers is not matched by any competitor."
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.
# # #
Page 7 of 7 pages
The Exhibit Index appears on Page 4