Halliburton Company (HAL): Business Model Canvas [Jan-2025 Mis à jour]

Dans le monde à enjeux élevés de l'exploration énergétique mondiale, Halliburton Company est une puissance technologique, transformant les défis complexes du champ pétrolier en solutions innovantes. Avec un modèle commercial stratégique qui couvre les technologies de pointe, les partenariats mondiaux et les offres de services complètes, Halliburton s'est positionné comme un catalyseur critique de l'extraction d'énergie sur les marchés internationaux. En intégrant de manière transparente les technologies de forage avancées, les solutions numériques et les relations avec les clients stratégiques, l'entreprise stimule non seulement l'efficacité opérationnelle, mais remodèle également le paysage des services énergétiques modernes.

Halliburton Company (HAL) - Modèle d'entreprise: partenariats clés

Partenariats principaux des sociétés pétrolières et gazières

Halliburton maintient des partenariats stratégiques avec les principales sociétés mondiales d'énergie:

Entreprise partenaire	Détails du partenariat	Valeur de collaboration annuelle
Exxonmobil	Services de forage et d'achèvement	1,2 milliard de dollars
Coquille	Technologies d'exploration offshore	875 millions de dollars
Chevron	Solutions de fracturation hydraulique	650 millions de dollars

Fabricants d'équipements de forage et fournisseurs de technologies

Les partenariats clés de la technologie et de l'équipement comprennent:

• Baker Hughes (développement technologique conjoint)
• Schlumberger (équipement de forage spécialisé)
• National Oilwell Varco (intégration des technologies de forage)

Alliances stratégiques des services énergétiques internationaux

Région	Entreprises partenaires	Focus de partenariat
Moyen-Orient	SAUDI ARAMCO	Technologies d'extraction avancées
Asie-Pacifique	Petronas	Innovations de forage offshore
Russie	Gazprom	Techniques d'exploration arctique

Collaboration des institutions de recherche

Partenaires à l'innovation technologique avec:

• Institut de technologie du Massachusetts (MIT)
• Centre de recherche sur l'énergie de l'Université de Stanford
• Texas A&M University Petroleum Engineering Department

Partenariats d'agence gouvernementale

Agence gouvernementale	Zone de collaboration	Investissement annuel
Département américain de l'énergie	Recherche d'énergie propre	45 millions de dollars
Bureau de la sécurité et de l'application de l'environnement	Sécurité de forage offshore	22 millions de dollars

Halliburton Company (HAL) - Modèle d'entreprise: activités clés

Fabrication des services et des équipements pétroliers

Halliburton a déclaré 17,71 milliards de dollars de revenus totaux pour 2023. La société a fabriqué et déployé environ 1 200 plates-formes de forage dans le monde.

Catégorie d'équipement	Volume de production annuel	Part de marché
Équipement de forage	3 500 unités	22%
Équipement de contrôle des puits	2 800 unités	18%
Systèmes de contrôle de la pression	1 600 unités	15%

Technologies de forage et optimisation

Halliburton a investi 892 millions de dollars dans la recherche et le développement pour les technologies de forage avancées en 2023.

• Mis en œuvre 450 projets d'optimisation de forage avancés
• Systèmes de performance de forage à 275 AI déployés
• Atteint 14% d'amélioration de l'efficacité du forage

Services de fracturation hydraulique et d'achèvement des puits

La société a exploité 19 flottes de fracturation hydraulique en Amérique du Nord en 2023.

Segment de service	Volume de services annuel	Contribution des revenus
Fracturation hydraulique	4 200 puits	6,3 milliards de dollars
Bien compléter	3 800 puits	5,7 milliards de dollars

Caractérisation et gestion du réservoir

Halliburton a traité 12 500 projets d'évaluation des réservoirs en 2023.

• Utilisé 375 systèmes de modélisation géologique avancés
• A mené des enquêtes sismiques dans 28 pays
• Déployés 620 technologies de surveillance des réservoirs

Solutions numériques pour l'exploration énergétique

Les investissements technologiques numériques ont totalisé 425 millions de dollars en 2023.

Solution numérique	Nombre d'implémentations	Amélioration de l'efficacité
Analytique AI souterraine	215 déploiements	17% d'efficacité opérationnelle
Systèmes de surveillance à distance	340 installations	Réduction des coûts de 22%

Halliburton Company (HAL) - Modèle d'entreprise: Ressources clés

Technologies avancées de forage et de fracturation

Halliburton a investi 692 millions de dollars dans la recherche et le développement en 2022. La société exploite 15 centres technologiques mondiaux axés sur le forage de l'innovation.

Catégorie de technologie	Nombre de brevets	Investissement annuel de R&D
Technologies de forage	387	278 millions de dollars
Technologies de fracturation	256	214 millions de dollars

Vaste réseau mondial de centres de service

Halliburton maintient 1 200 centres de service dans 80 pays à travers le monde.

• Amérique du Nord: 520 centres de service
• Moyen-Orient: 280 centres de service
• Europe / Afrique: 220 centres de service
• Asie-Pacifique: 180 centres de service

Ingénierie hautement qualifiée et main-d'œuvre technique

En 2022, Halliburton a employé 48 000 professionnels dans le monde.

Catégorie des employés	Nombre d'employés
Ingénieurs	12,600
Spécialistes techniques	8,900
Techniciens de terrain	26,500

Logiciels propriétaires et plateformes numériques

Halliburton a développé plus de 50 plates-formes numériques et solutions logicielles pour les opérations pétrolières et gazières.

• Logiciel de planification des puits numériques
• Plates-formes d'optimisation de forage en temps réel
• Systèmes de maintenance prédictive

Portfolio de propriété intellectuelle solide

Halliburton détient 2 143 brevets mondiaux actifs à partir de 2022.

Catégorie de brevet	Nombre de brevets
Technologies de forage	687
Innovations de fracturation	456
Solutions numériques	312
Technologies environnementales	218

Halliburton Company (HAL) - Modèle d'entreprise: propositions de valeur

Solutions complètes de champ pétrolifères de bout en bout

Revenus du segment des services pétroliers: 20,5 milliards de dollars en 2022

Catégorie de service	Revenus annuels	Part de marché
Services de forage	7,3 milliards de dollars	35%
Services d'achèvement	6,8 milliards de dollars	32%
Services de production	6,4 milliards de dollars	33%

Efficacité et productivité de forage améliorées

• Amélioration de l'efficacité du forage: réduction de 22% du temps opérationnel
• Métriques de productivité: augmentation de 15% des taux d'extraction
• Réduction moyenne des coûts par puits: 450 000 $

Innovations technologiques de pointe

Investissement en R&D: 862 millions de dollars en 2022

Zone technologique	Demandes de brevet	Taux de mise en œuvre
Technologies pétrolières numériques	47 brevets	68%
Systèmes de forage avancés	39 brevets	55%

Atténuation des risques pour les projets d'exploration énergétique

Revenus de services de gestion des risques: 3,2 milliards de dollars en 2022

• Réduction des risques du projet: 40% de probabilité de défaillance inférieure
• Économies de coûts d'assurance: 25% par rapport à la moyenne de l'industrie

Méthodes d'extraction d'énergie durables et rentables

Investissements en durabilité: 412 millions de dollars en 2022

Initiative de durabilité	Réduction du carbone	Rentabilité
Technologies de forage à faible teneur en carbone	27% de réduction du CO2	Économies de coûts de 18%
Systèmes de gestion de l'eau	Recyclage de 35%	22% de réduction des coûts opérationnels

Halliburton Company (HAL) - Modèle d'entreprise: relations clients

Partenariats à long terme basés sur les contrats

Halliburton maintient des contrats stratégiques à long terme avec les grandes sociétés pétrolières et gazières dans le monde. Depuis 2023, la société a signalé 78 accords de services à long terme actifs avec des acteurs clés de l'industrie.

Type de contrat	Durée moyenne	Plage de valeur annuelle
Services d'exploration	5-7 ans	50 M $ - 250 M $
Soutien au forage	3-5 ans	30 M $ - 150 M $
Amélioration de la production	4-6 ans	40 M $ - 200 M $

Services de support technique et de conseil

Halliburton fournit un soutien technique complet par des équipes dédiées dans 80 pays. En 2023, la société a investi 425 millions de dollars dans l'infrastructure de support client.

• Assistance technique 24/7
• Support d'ingénierie sur place
• Services de diagnostic à distance
• Gestionnaires de réussite des clients dédiés

Solutions personnalisées pour les besoins individuels des clients

La société développe des solutions technologiques sur mesure avec un coût de développement moyen de 3,2 millions de dollars par projet personnalisé en 2023.

Catégorie de solution	Taux de personnalisation	Score de satisfaction du client
Technologies de forage	65%	4.7/5
Systèmes de production	55%	4.6/5
Transformation numérique	45%	4.5/5

Formation technologique continue et ateliers

Halliburton a organisé 672 ateliers de formation dans le monde en 2023, avec un investissement total de formation de 87 millions de dollars.

• Modules de formation en ligne
• Ateliers techniques pratiques
• Programmes de certification
• Parrainages de la conférence de l'industrie

Plates-formes de fiançailles clients numériques

La société exploite des plateformes numériques avancées avec un investissement technologique annuel de 215 millions de dollars en 2023.

Plate-forme numérique	Base d'utilisateurs	Volume d'interaction annuel
Portail Myhalliburton	12 500 utilisateurs d'entreprise	3,4 millions d'interactions
Marché des services numériques	8 700 clients enregistrés	2,1 millions de transactions

Halliburton Company (HAL) - Modèle d'entreprise: canaux

Équipes de vente directes

Halliburton maintient 52 équipes de vente directes dans 80 pays en 2024. Génération de revenus de l'équipe de vente annuelle: 14,3 milliards de dollars.

Région	Équipes de vente	Revenus annuels
Amérique du Nord	18 équipes	6,2 milliards de dollars
Moyen-Orient	12 équipes	3,7 milliards de dollars
l'Amérique latine	8 équipes	2,1 milliards de dollars
Europe / Afrique	14 équipes	2,3 milliards de dollars

Conférences et salons commerciaux de l'industrie

Halliburton participe à 37 grandes conférences internationales d'énergie par an. Investissement total des salons commerciaux: 4,5 millions de dollars.

• Conférence technique annuelle SPE
• Conférence de technologie offshore
• Congrès mondial de pétrole
• Conférence internationale sur la technologie du pétrole

Plates-formes numériques en ligne et portails de service

Plateforme numérique Volume de transaction annuelle: 2,8 milliards de dollars. Base d'utilisateurs de plate-forme: 6 400 clients d'entreprise.

Plate-forme numérique	Utilisateurs	Transactions annuelles
Portail Myhalliburton	4 200 clients	1,9 milliard de dollars
Gestion des réservoirs numériques	1 500 clients	900 millions de dollars

Gestion de compte stratégique

Les comptes stratégiques génèrent 9,6 milliards de dollars de revenus annuels. 128 gestionnaires de comptes stratégiques dédiés.

• Top 10 Comptes stratégiques: 4,3 milliards de dollars de revenus
• Valeur moyenne du compte: 75 millions de dollars
• Taux de rétention: 93%

Réseau de centres de services mondiaux

Halliburton exploite 146 centres de services mondiaux. Investissement total du réseau du centre de services: 1,2 milliard de dollars.

Région	Centres de service	Revenus de services annuels
Amérique du Nord	48 centres	3,7 milliards de dollars
Moyen-Orient	32 centres	2,5 milliards de dollars
Asie-Pacifique	26 centres	1,8 milliard de dollars
Europe / Afrique	40 centres	1,6 milliard de dollars

Halliburton Company (HAL) - Modèle d'entreprise: segments de clientèle

Grandes sociétés internationales de pétrole et de gaz

Halliburton dessert les grandes sociétés d'énergie mondiales avec des revenus annuels dépassant 50 milliards de dollars, notamment:

Entreprise	Revenus annuels	Portée du service Halliburton
Exxonmobil	413,7 milliards de dollars	Services de forage, caractérisation du réservoir
Coquille	383,4 milliards de dollars	Construction de puits, compléments
Chevron	246,3 milliards de dollars	Fracturation hydraulique, optimisation de la production

Compagnies pétrolières nationales

Halliburton fournit des services complets aux entreprises énergétiques publiques:

• SAUDI ARAMCO (Arabie saoudite): Revenu annuel 400 milliards de dollars
• Petronas (Malaisie): Revenu annuel 50,2 milliards de dollars
• Petrobras (Brésil): Revenu annuel 89,4 milliards de dollars

Entreprises d'exploration et de production indépendantes

Segment de marché caractérisé par des sociétés d'exploration de taille moyenne:

Entreprise	Capitalisation boursière	Valeur contractuelle typique
Ressources naturelles pionnières	58,3 milliards de dollars	15-50 millions de dollars
Devon Energy	42,1 milliards de dollars	10-35 millions de dollars

Companies de forage offshore

Segment spécialisé de l'exploration de l'énergie maritime:

• Transocean: flotte de 48 plates-formes de forage actives
• Diamond offshore: 15 navires de forage ultra-profonde
• Valeur du projet moyen offshore: 250 à 500 millions de dollars

Marchés énergétiques émergents

Expansion de la clientèle dans les régions en développement:

Région	Investissement énergétique projeté	Pénétration du marché de Halliburton
Afrique	67 milliards de dollars d'ici 2025	18% de part de marché
Asie du Sud-Est	45 milliards de dollars d'ici 2025	22% de part de marché
l'Amérique latine	82 milliards de dollars d'ici 2025	25% de part de marché

Halliburton Company (HAL) - Modèle d'entreprise: Structure des coûts

Investissements de recherche et développement

Halliburton a investi 352 millions de dollars dans les dépenses de R&D en 2022, ce qui représente 1,5% du total des revenus.

Année	Investissement en R&D	Pourcentage de revenus
2022	352 millions de dollars	1.5%
2021	321 millions de dollars	1.4%

Équipement avancé et achat de technologie

Les dépenses en capital pour 2022 ont totalisé 714 millions de dollars, axée sur la technologie et les améliorations d'équipement.

• Investissements de transformation numérique: 128 millions de dollars
• Mises à niveau de la technologie de forage: 246 millions de dollars
• Systèmes d'automatisation: 92 millions de dollars

Frais de main-d'œuvre mondiale et de formation

Les coûts totaux de rémunération et de formation de la main-d'œuvre en 2022 ont atteint 4,1 milliards de dollars.

Catégorie de dépenses	Montant
Salaires et salaires	3,6 milliards de dollars
Formation et développement	98 millions de dollars
Avantages sociaux	402 millions de dollars

Entretien opérationnel et logistique

Les frais de maintenance opérationnelle pour 2022 étaient de 1,2 milliard de dollars.

• Entretien de l'équipement: 678 millions de dollars
• Transport et logistique: 392 millions de dollars
• Gestion de la chaîne d'approvisionnement: 130 millions de dollars

Coûts de conformité et d'adhésion réglementaire

Les dépenses liées à la conformité en 2022 ont totalisé 215 millions de dollars.

Zone de conformité	Dépense
Conformité environnementale	89 millions de dollars
Règlements sur la sécurité	76 millions de dollars
Représentation juridique et réglementaire	50 millions de dollars

Halliburton Company (HAL) - Modèle d'entreprise: Strots de revenus

Contrats de services pétroliers

En 2023, Halliburton a déclaré un chiffre d'affaires total de 21,47 milliards de dollars. Les contrats de services pétroliers représentaient environ 65% des revenus totaux, représentant 13,96 milliards de dollars.

Type de contrat	Revenus (2023)	Pourcentage
Services de forage	5,62 milliards de dollars	26.2%
Services d'achèvement de puits	4,73 milliards de dollars	22.0%
Amélioration de la production	3,61 milliards de dollars	16.8%

Ventes et location d'équipement

Les ventes d'équipements et la location ont généré 3,65 milliards de dollars en 2023, ce qui représente 17% du total des revenus.

• Ventes d'équipements de forage: 1,84 milliard de dollars
• Location spécialisée de l'équipement de champ pétrolifère: 1,81 milliard de dollars

Services de conseil technologique

Les services de conseil technologique ont contribué 2,58 milliards de dollars en 2023, représentant 12% du total des revenus.

Type de service de conseil	Revenus (2023)
Modélisation du réservoir numérique	892 millions de dollars
Conseil géologique	763 millions de dollars
Conseil d'efficacité opérationnelle	925 millions de dollars

Revenus du projet basés sur la performance

Les revenus du projet basés sur la performance ont atteint 1,24 milliard de dollars en 2023, ce qui représente 5,8% des revenus totaux.

• Contrats de performance du projet offshore: 620 millions de dollars
• Optimisation des ressources non conventionnelles: 420 millions de dollars
• Projets de récupération de pétrole améliorés: 200 millions de dollars

Abonnements à la solution numérique

Les abonnements à la solution numérique ont généré 450 millions de dollars en 2023, ce qui représente 2,1% des revenus totaux.

Type de solution numérique	Revenu de l'abonnement (2023)
Plates-formes de surveillance en temps réel	210 millions de dollars
Logiciel de maintenance prédictive	150 millions de dollars
Abonnements d'analyse de données	90 millions de dollars

Halliburton Company (HAL) - Canvas Business Model: Value Propositions

You're looking at the core promises Halliburton Company makes to its clients, the tangible benefits they deliver that keep them a cornerstone of the energy services market. Honestly, it's about engineering certainty in an uncertain world, backed by some serious 2025 performance figures.

Maximizing asset value for customers across the entire reservoir lifecycle

Halliburton Company explicitly states its value proposition is to 'collaborate and engineer solutions to maximize asset value for our customers' across the entire reservoir lifecycle, from exploration through abandonment. This comprehensive approach is reflected in the segment performance. For instance, the Completion and Production segment, which handles the later stages of the lifecycle, generated revenue of $3.2 billion in the third quarter of 2025 alone. The company is focused on ensuring that every asset delivers its maximum potential over its life.

Providing technology-driven operational efficiency and differentiated performance

The drive for efficiency is clear in the technology deployment and margin performance. Halliburton Company is pushing differentiated performance through digital tools. The Drilling and Evaluation segment, which covers the initial stages, brought in $2.3 billion in revenue during the second quarter of 2025. Management is focused on maintaining strong profitability even when the market softens; the third quarter of 2025 saw an adjusted operating margin of 13%. This level of performance is what management points to as evidence of their technology advantages.

Offering integrated solutions for complex well construction and intervention

Delivering integrated solutions means combining multiple services-like drilling fluids, directional drilling, and cementing-into a seamless package for complex projects. The total company revenue for the second quarter of 2025 reached $5.5 billion, showcasing the scale of their integrated service delivery. This is supported by specific service line performance, such as the improved pressure pumping services and higher completion tool sales contributing to the sequential revenue increase in the Completion and Production segment in Q2 2025.

Here's a look at how the revenue was split across the main business segments in Q3 2025:

Segment	Q3 2025 Revenue (Millions USD)	Sequential Change from Q2 2025
Completion and Production	3,200	Increase of 2% (+$52 million)
Drilling and Evaluation (Implied from Total)	Approximately 2,400 (Calculated)	Varies by sub-segment

Enabling energy transition through geothermal and lithium extraction expertise

Halliburton Company is actively applying its core subsurface expertise to the energy transition. A concrete example is the contract secured with GeoFrame Energy to plan and design the first demonstration phase wells for a geothermal and direct lithium extraction (DLE) project in the Smackover Formation in East Texas, with work expected to start in late 2025. This shows a direct translation of existing well construction and reservoir knowledge into new energy frontiers.

Delivering autonomous and intelligent drilling/fracturing for reduced human risk

Reducing human risk and increasing precision through automation is a major value driver. Halliburton Company achieved the world's first closed-loop, autonomous fracturing operation in 2025. The company utilizes systems like the Zeus IQ autonomous fracturing system and the iCruise® Force intelligent rotary steerable system. Furthermore, technologies like RoboWell, co-developed with Halliburton, allow wells to self-operate, delivering measurable benefits in commercial use across hundreds of wells, including up to a 5% increase in well production and a 50% reduction in well movement. The use of these systems in areas like the Permian Basin allows rigs to operate 24/7 without breaks, leading to drilling 20-30 percent faster in some applications.

The focus on intelligent operations translates to clear operational advantages:

• Achieved the world's first closed-loop, autonomous fracturing operation.
• LOGIX™ automation and remote operations solutions enable remote execution of cementing.
• iCruise and Geo-Pilot systems drill with precision humans cannot replicate.
• RoboWell technology offers up to a 30% gas-lift optimization.
• The company repurchased approximately $250 million of common stock in Q3 2025, signaling confidence in shareholder value derived from disciplined operations.

Finance: draft 13-week cash view by Friday.

Halliburton Company (HAL) - Canvas Business Model: Customer Relationships

You're looking at how Halliburton Company builds and maintains its connections with the energy operators it serves. It's a mix of deep, personal engagement and scalable digital tools.

Dedicated account management and long-term service contracts are central to securing revenue visibility. Halliburton Company sometimes enters into integrated project management services via long-term, fixed-price contracts, often required by National Oil Companies (NOCs). As of the latest available data, revenue allocated to remaining performance obligations for these long-term contracts was reported as not material to consolidated financial statements, though this can shift with new large awards. For instance, Halliburton Company recently supported U.S. troops with new and existing support contracts valued in excess of $9 billion combined. Separately, a competitively bid contract for the southern oil fields had a maximum value of up to $1.2 billion over a 24-month period plus options. These structures aim for sticky revenue streams.

The relationship moves beyond simple transactions through collaborative engineering to customize solutions for specific reservoir challenges. A clear example is the framework agreement signed with Shell to provide umbilical-less tubing hanger installation and retrieval services using Remote Operated Control System (ROCS) technology, following a successful three-well technology phase in the Gulf of America. This signals a deep, joint effort to implement novel technology in challenging deepwater environments.

You see a commitment to high-touch, expert-led field service and technical support. This human element is crucial for complex operations. The trend in the industry suggests that workers previously focused on manual monitoring and control activities can be redeployed to optimization analysis, strategic planning, and customer relationship management functions, indicating a shift in where expert time is spent.

Finally, Halliburton Company pushes for digital self-service via DecisionSpace 365 for real-time data and analytics. This suite of cloud applications offers modular, open, and plug-and-play solutions. The DecisionSpace 365 Essentials offering utilizes Amazon Web Services (AWS) to provide a fully automated customer experience, including rapid onboarding, all under a fixed monthly subscription pricing model. This platform allows customers to consume secure, anytime, and anywhere access to cloud applications and integrate third-party tools via its open architecture.

Here's a look at some relationship-relevant contract structures and scale:

Relationship Type/Contract Detail	Example/Metric	Data Year/Context
Total Value of Combined Support Contracts (US Troops)	Exceeding $9 billion	2025 (Reported)
Maximum Value of Specific Oil Field Contract	$1.2 billion	Contract Duration (24-month base plus options)
Framework Agreement for Advanced Technology	ROCS technology with Shell	2025 (Reported)
Revenue Allocation for Long-Term Contracts	Not material	As of December 31, 2020 (Latest available context)

The core of the relationship strategy involves these key touchpoints:

• Securing firm contracts for future revenue recognition.
• Collaborating on proprietary technology deployment like ROCS.
• Offering enterprise-scale software via fixed monthly subscriptions.
• Conducting periodic supplier performance reviews to ensure adherence to pricing.

Finance: draft 13-week cash view by Friday.

Halliburton Company (HAL) - Canvas Business Model: Channels

You're looking at how Halliburton Company gets its services and technology into the hands of its global customer base as of late 2025. It's a massive, multi-pronged approach, blending boots-on-the-ground expertise with serious digital infrastructure.

Direct sales and service teams operating in over 70 countries

Halliburton Company maintains a vast direct sales and service presence, conducting business in approximately 70 countries globally. This direct engagement is key to delivering their Completion and Production segment services, which brought in $3.2 billion in revenue during the third quarter of 2025. To be fair, the international business is the dominant channel, with >55% of Halliburton Company's total third quarter 2025 revenue of $5.6 billion coming from international markets. The direct teams are structured across four primary geographic regions: North America, Latin America, Europe/Africa/CIS, and Middle East/Asia. For instance, the Latin America region, which generated $996 million in revenue in Q3 2025, relies heavily on these local teams.

The geographic revenue split for the third quarter of 2025 gives you a clear picture of where these direct channels are most active:

Geographic Region	Q3 2025 Revenue	Sequential Change
International (Total)	$3.2 billion	Flat
Latin America	$996 million	Increase of 2%
Europe / Africa / CIS	$828 million	Flat sequentially

Global network of field service centers and logistics hubs

The physical backbone supporting these direct teams involves a global network of operational centers. While specific numbers for field service centers aren't public, Halliburton Company has been aggressively optimizing its internal infrastructure to support its digital push. Between 2021 and 2024, the company consolidated its internal global data center footprint from 12 facilities down to 5, showing a clear move toward centralized, efficient operational support. Furthermore, in October 2025, Halliburton Company announced a strategic collaboration and a 20% ownership stake in VoltaGrid, a specialized provider of distributed power solutions. This move signals a new channel capability, leveraging logistics expertise to deliver firm energy solutions outside traditional infrastructure, which is critical for remote operations monitoring.

Digital platforms for software sales and remote operations monitoring

Digital delivery is a growing channel, driving differentiation. Halliburton Company is pushing its DecisionSpace® 365 software suite, which covers Subsurface, Well Construction, and Production applications. They recently unveiled the next generation Summit Knowledge® (SK™) digital ecosystem, featuring tools like SK Well Pages for ESP workspace management. This digital focus earned Halliburton Company and Nabors Industries the Digital Enabler of the Year award, recognizing the unified platform formed by Halliburton Company's LOGIX™ automation and remote operations and Nabors' SmartROS® system. This allows for remote monitoring and consistent, repeatable performance delivery, effectively selling expertise as a digital service.

Integrated project management teams for large, complex contracts

For the most complex undertakings, Halliburton Company uses integrated project management teams as a primary channel. This approach is explicitly noted as a driver for revenue growth in certain areas. Specifically, the 2% sequential increase in Latin America revenue to $996 million in Q3 2025 was partly driven by higher project management activity across the region. These teams bundle multiple service lines-from drilling to completions-into a single, managed contract, simplifying the client interface for major developments.

You should check the Q4 2025 guidance to see if the focus on integrated project execution is expected to continue driving international revenue growth.

Halliburton Company (HAL) - Canvas Business Model: Customer Segments

Halliburton Company (HAL) serves a global customer base spanning traditional oil and gas majors to newer energy ventures. The company's revenue distribution across geographies in the third quarter of 2025 gives insight into where its primary customer activity lies.

The total company revenue for Halliburton Company in the third quarter of 2025 was $5.6 billion. The company employed approximately 48,000 people in Fiscal Year 2025.

The customer base is segmented by operational focus, which correlates with geographic performance:

• Major International Oil Companies (IOCs) and Independent Operators are served across all international regions, with activity noted in Norway, Saudi Arabia, and Brazil.
• National Oil Companies (NOCs) focused on long-term resource development are heavily represented in the Middle East/Asia segment, which generated $1.41 billion in revenue in the third quarter of 2025.
• Unconventional resource producers (shale, tight oil) in North America are the primary drivers of the North America revenue segment, which was $2.36 billion in the third quarter of 2025. The CEO noted executing strategy to Maximize Value with leading operators in North America.
• Emerging energy companies in geothermal, CCS, and critical minerals (DLE) are integrated into international growth engines, with contracts awarded extending through 2026 and beyond.

You can see the geographic revenue split, which reflects the current customer activity levels, in the table below:

Geographic Region	Q3 2025 Revenue Amount	Sequential Change Context
International Total (Europe/Africa/CIS + Middle East/Asia + Latin America)	Approximately $3.239 billion (Calculated from component parts)	International revenue was $3.2 billion in Q2 2025.
North America	$2.36 billion	Revenue stood at $2.3 billion in Q2 2025.
Europe, Africa, and CIS	$828 million	Increased by 15% year-over-year.
Middle East and Asia	$1.41 billion	Decreased by 8.1% year-over-year.
Latin America	$996 million	Increased by 2% sequentially from Q2 2025.

The Completion and Production segment, which is heavily tied to completion and artificial lift activity for existing and new wells, generated $3.2 billion in revenue in the third quarter of 2025. The Drilling and Evaluation segment, tied to the initial drilling phase, generated $2.4 billion in the same period.

The company's adjusted operating margin for the third quarter of 2025 was 13%.

Halliburton Company (HAL) - Canvas Business Model: Cost Structure

You're looking at the major drains on Halliburton Company's bottom line as of late 2025. The cost structure here is heavily weighted toward maintaining a massive, global operational footprint, which means significant upfront and ongoing spending.

High capital expenditure (CapEx) for equipment and technology is a constant. For the first quarter of 2025, Halliburton Company reported Capital Expenditures of $302 million, which management noted was aligned with an expected spend of approximately 6% of revenue for that period. Looking at the third quarter of 2025, CapEx was slightly lower at $261 million. For the full fiscal year 2025, estimates pointed toward a total CAPEX around $1,283 million.

The company carries significant fixed costs related to maintaining global infrastructure and fleet. These are the costs you incur whether the oil price is up or down, like keeping facilities ready and equipment maintained across 70 countries. To manage this, Halliburton Company implemented cost-control measures expected to save $400 million annually, which translates to about $100 million per quarter in projected savings as of late 2025.

Personnel costs are substantial, reflecting the need for highly skilled engineers and field personnel. While direct labor costs aren't broken out as a single line item here, restructuring activities give us a hint of the scale of personnel-related expenses. For instance, Halliburton Company recognized a $63 million severance expense as part of strategic initiatives to rationalize its global headcount early in 2025. Also, the 'availability and cost of highly skilled labor and raw materials' is explicitly listed as a risk factor, showing its direct impact on operational costs.

Investment in the future, specifically Research and Development (R&D) investment in digital and new energy technologies, is another key cost center. This isn't just abstract spending; it's concrete investment in physical assets and systems. Halliburton Company's R&D team completed its new 2,700-square-foot Vertical Test Facility in Tulsa, Oklahoma, designed for full system integration testing. On the digital front, the company spent $30 million on SAP S4 migration during Q1 2025 alone, showing a direct cost to upgrade core enterprise technology.

Finally, you have to account for non-recurring, but significant, charges. Halliburton Company recognized $356 million in impairments and other charges during Q1 2025. This figure was primarily attributed to severance costs and asset impairments. Later in the year, for the third quarter of 2025, this line item was even higher, totaling a $540 million charge related to 'Impairments and other charges' and other items.

Here's a quick look at some key 2025 financial metrics to put these costs in context:

Metric	Q1 2025 Amount (Millions USD)	Q3 2025 Amount (Millions USD)
Total Revenue	$5,417	$5,600
Capital Expenditures (CapEx)	$302	$261
Impairments and Other Charges	$356	$540
Operating Income (Reported)	$431	Flat with Q2 2025 (Operating Income $514 million)
Adjusted Operating Income	$787	N/A

The cost structure is clearly dominated by the physical assets required to service the well lifecycle, which necessitates high CapEx and the fixed costs to support that fleet. The adjustments for impairments and technology upgrades show where the company is actively managing or absorbing one-time hits.

• Severance expense recognized in early 2025: $63 million
• SAP S4 migration spend in Q1 2025: $30 million
• Projected annual cost savings from cuts: $400 million
• Q1 2025 Capital Expenditures: $302 million

Finance: draft the Q4 2025 cost variance analysis against budget by next Tuesday.

Halliburton Company (HAL) - Canvas Business Model: Revenue Streams

You're looking at how Halliburton Company brings in its money as of late 2025, focusing on the hard numbers from the latest reports. The core of the business remains split between two major segments, but the mix is always shifting based on global activity.

For the third quarter of 2025, the total revenue hit $5.6 billion, up from $5.5 billion in the second quarter of 2025. This revenue is primarily generated through the delivery of services and the sale of equipment across the well lifecycle.

Here's a look at the segment revenue breakdown for Q3 2025:

Revenue Stream Category	Q3 2025 Revenue (Millions USD)	Sequential Change (Q2 2025 to Q3 2025)
Completion and Production services revenue	$3,223	Increase of 2%
Drilling and Evaluation services revenue	$2,377	Increase of 2%
Total Company Revenue	$5,600	Increase of 2%

The Completion and Production services revenue for Q3 2025 was $3.2 billion. This was driven by higher completion tool sales and increased artificial lift activity, particularly in North America. Still, this was partially offset by lower international completion tool sales.

Drilling and Evaluation services revenue for the same period was $2.4 billion. The sequential growth here was mainly due to higher project management activity in Latin America and increased drilling services across North America and Europe/Africa.

Beyond the main segment reporting, Halliburton Company's revenue streams include several other key components:

• Software and digital solution licensing fees, with growth noted in software sales in Europe/Africa during Q3 2025.
• Integrated project management fees, which were a driver for the Drilling and Evaluation revenue increase in Latin America.
• Long-term contract payments, including meaningful offshore work awarded in the first quarter of 2025 extending through 2026 and beyond.
• Revenue from new energy services like Direct Lithium Extraction (DLE) and geothermal well design; Halliburton won a contract for a DLE and geothermal project in East Texas, with work expected to start in late 2025.

To be fair, software sales globally saw a sequential decrease in Q2 2025, showing that licensing revenue can be lumpy. Finance: draft 13-week cash view by Friday.