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)
JANUARY 22, 1999
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. 75-2677995
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 January 22, 1999 registrant issued a press release entitled
Halliburton Enters Agreement to Divest LWD Business pertaining, among other
things, to an announcement that registrant has entered into an agreement with
W-H Energy Services, Inc. for the sale of its logging-while-drilling (LWD) and
related measurement-while-drilling (MWD) business known as PathFinder. The sale
is being made to comply with the consent decree registrant entered into with the
U.S. Department of Justice on September 29, 1998 in order to conclude the
antitrust review of registrant's merger with Dresser Industries, Inc. Completion
of the sale of the PathFinder business is subject to approval by the Department
of Justice. The sale is expected to be completed in March.
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 January 22, 1999.
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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: January 25, 1999 By: /s/ Susan S. Keith
------------------------------
Susan S. Keith
Vice President and Secretary
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EXHIBIT INDEX
Exhibit Sequentially
Number Description Numbered Page
20 Press Release of 5 of 6
January 22, 1999
Incorporated by Reference
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FOR IMMEDIATE RELEASE Contact: Guy T. Marcus
January 22, 1999 Vice President-Investor Relations
(214) 978-2691
HALLIBURTON ENTERS AGREEMENT TO DIVEST LWD BUSINESS
DALLAS, Texas -- Halliburton Company (NYSE:HAL) announced today that it
has entered into an agreement with W-H Energy Services, Inc. for the sale of
Halliburton's logging-while-drilling (LWD) and related
measurement-while-drilling (MWD) business known as PathFinder. This sale is
being made to comply with the consent decree Halliburton entered into with the
U.S. Department of Justice on September 29, 1998 in order to conclude the
antitrust review of Halliburton's merger with Dresser Industries, Inc.
Completion of the sale of the PathFinder business is subject to
approval by the Department of Justice. It is expected that the sale will be
completed in March. Halliburton and W-H did not disclose the terms of the sale.
Following completion of the sale, Halliburton and W-H will cooperate in
an orderly transition of the PathFinder business to W-H. Halliburton will
provide separate LWD services through its Sperry Sun business unit, which was
acquired as part of the merger with Dresser. In addition, Halliburton will
continue to provide sonic LWD services using its existing technologies, which it
will share with PathFinder.
W-H Energy Services, Inc. is a privately owned, Houston-based, oilfield
service company. W-H, through its nine subsidiaries, provides a wide range of
-more-
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Halliburton Company page 2
oilfield services throughout the Gulf Coast including MWD services through its
subsidiary, Thomas Energy Services. Following the completion of its acquisition
of PathFinder, W-H intends for PathFinder to continue its operations in the
United States, the North Sea and other international locations.
Halliburton Company, founded in 1919, is the world's largest provider
of products and services to the petroleum and energy industries. The company
serves its customers with a broad range of products and services through its
Energy Services Group, Engineering and Construction Group, and Dresser Equipment
Group business segments. In 1997 Halliburton conducted business with a workforce
of approximately 100,000 in over 120 countries. The company's World Wide Web
site can be accessed at http://www.halliburton.com.
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