Halliburton Announces Second Quarter Income from Continuing Operations of $0.73 Per Diluted Share

  Halliburton Announces Second Quarter Income from Continuing Operations of
  $0.73 Per Diluted Share

Business Wire

HOUSTON -- July 22, 2013

Halliburton (NYSE:HAL) announced today that income from continuing operations
for the second quarter of 2013 was $677 million, or $0.73 per diluted share.
This compares to income from continuing operations for the first quarter of
2013 of $624 million, or $0.67 per diluted share, excluding a $637 million
charge, after-tax, or $0.68 per diluted share, to increase a reserve related
to the Macondo litigation.

Halliburton's total revenue in the second quarter of 2013 was a company record
of $7.3 billion, compared to $7.0 billion in the first quarter of 2013.
Operating income was $1.0 billion in the second quarter of 2013, compared to
operating income of $902 million in the first quarter of 2013, adjusted for
the Macondo charge. For the first quarter of 2013, reported loss from
continuing operations was $13 million, or $0.01 per diluted share, and
reported operating loss was $98 million.

“I am pleased with our second quarter results, as total company revenue of
$7.3 billion was a record quarter for Halliburton,” commented Dave Lesar,
chairman, president and chief executive officer.

“Looking at our product lines, Baroid, Cementing, Completion Tools,
Multi-Chem, and Testing set quarterly revenue records, while Baroid, Testing,
and Artificial Lift all set quarterly operating income records.

“Relative to our primary competitors, we have delivered leading year-over-year
international revenue growth for five consecutive quarters. Eastern Hemisphere
operations grew revenue 11% sequentially, resulting from record revenues in
both of our regions, and operating income was up 23%.

“Middle East / Asia, our fastest growing market, improved revenue 12% and
operating income 17% sequentially. This across the board growth was led by
higher stimulation, wireline, and fluids activity in Malaysia, and improved
sales in China.

“In Europe/Africa/CIS, revenue and operating income increased 9% and 33%,
respectively, compared to the first quarter. This growth was led by seasonal
recovery of activity levels in Russia and the North Sea, and by higher
drilling and completions activity in Angola.

“We believe that the Eastern Hemisphere will continue to improve,
year-over-year, with full year revenue growth in the mid-teens. We expect
margins will continue to improve over the next two quarters and average in the
upper teens for the full year.

“Latin America revenue was flat to the first quarter, and operating income was
down 7%, primarily as a result of activity reductions in the northern region
of Mexico, increased mobilization costs, and lower vessel activity. Although
the first half of the year in Latin America was disappointing, we feel
confident that revenue will improve in second half of the year, and expect
Latin America full year margins to average in the mid-teens.

“In North America, revenue increased 3% sequentially and margins improved by
120 basis points to 17.5%. This was despite a relatively flat U.S. land rig
count and seasonally lower Canadian activity levels.

“For the third quarter, we anticipate the U.S. land rig count to be flat. We
are observing a continuing trend towards multi-well pad activity among our
customer base, which we believe will result in higher service intensity.
Ultimately, we believe this efficiency trend bodes very well for us, as our
scale and expertise allows us to lead the industry in executing factory-type
operations. We also expect North America margins to continue to expand over
the balance of the year.

“We continue to be optimistic about Halliburton’s performance for the
remainder of 2013, our ability to continue growing our North America margins,
and continued revenue and margin expansion in our international business. We
are relentlessly focused on delivering best-in-class returns. Our recent
quarterly dividend increase, aggressive stock repurchases, and our $5 billion
stock repurchase authorization reflect our growing confidence in the strength
of our business outlook,” concluded Lesar.

2013 Second Quarter Results

Completion and Production

Completion and Production (C&P) revenue in the second quarter of 2013 was $4.4
billion, an increase of $263 million, or 6%, from the first quarter of 2013.
Improved activity levels in the United States land market and strong
international results more than offset the effects of the seasonal Canadian
spring break-up.

C&P operating income in the second quarter of 2013 was $732 million, an
increase of $117 million, or 19%, from the first quarter of 2013. North
America C&P operating income increased $85 million, or 20%, sequentially,
primarily due to lower guar costs and increased demand for production
enhancement services in the United States land market. Latin America C&P
operating income improved by $20 million, or 71%, compared to the first
quarter of 2013, due to increased demand for cementing services in Brazil and
Mexico, and increased stimulation activity in Argentina. Europe/Africa/CIS C&P
operating income increased $10 million, or 16%, sequentially, driven by higher
cementing activity in Russia and Mozambique and increased demand for
production enhancement services and completion tools sales in Norway. Middle
East/Asia C&P operating income was flat compared to the first quarter, as
increased stimulation activity in Southeast Asia and higher direct sales in
China were partially offset by mobilization costs in Saudi Arabia.

Drilling and Evaluation

Drilling and Evaluation (D&E) revenue in the second quarter of 2013 was $3.0
billion, an increase of $80 million, or 3%, from the first quarter of 2013, as
higher drilling activity in the Eastern Hemisphere more than offset the
effects of the Canadian spring break-up and lower activity levels in Mexico.

D&E operating income in the second quarter of 2013 was $415 million, an
increase of $8 million from the first quarter of 2013. North America D&E
operating income declined $24 million, or 14%, sequentially, primarily due to
lower drilling activity in the Gulf of Mexico and the effects of the Canadian
spring break-up. Latin America D&E operating income decreased $28 million, or
35%, from the first quarter of 2013, as a result of higher costs in Brazil and
lower drilling activity in Mexico, Ecuador, and Colombia. Europe/Africa/CIS
D&E operating income increased $30 million, or 53%, sequentially, due to
higher drilling activity in Angola and fluids demand in Russia. Middle
East/Asia D&E operating income rose $30 million, or 31%, from the first
quarter, as increased demand for drilling services in Saudi Arabia, higher
drilling direct sales in China, and improved profitability in Iraq more than
offset lower wireline direct sales in China.

Corporate and Other

During the second quarter of 2013, Halliburton invested an additional $34
million, pre-tax, in strategic projects aimed at strengthening Halliburton's
North America service delivery model and repositioning technology, supply
chain, and manufacturing infrastructure to support projected international
growth. Halliburton expects to continue funding this effort throughout 2013.

Halliburton repurchased 23 million shares of common stock during the second
quarter at a total cost of approximately $1.0 billion.Since the inception of
the stock repurchase program in February 2006, Halliburton has purchased 120
million shares at a total cost of approximately $4.3 billion. On July 18,
2013, Halliburton’s board of directors increased the authorization to purchase
Halliburton common stock by $4.3 billion, to a new total of $5.0 billion, and
Halliburton anticipates additional purchases under the program during the
third quarter.

Significant Recent Events and Achievements

  *Halliburton announced the successful completion of three wells in the
    deepwater Gulf of Mexico utilizing Halliburton's Enhanced Single-Trip
    Multizone (ESTMZ™) FracPac™ system. The ESTMZ downhole tool system enables
    the operator to stimulate and gravel pack multiple production zones in a
    single trip. Designed for use in deepwater and ultra-deepwater offshore
    completions, the ESTMZ system allows the highest treating rate with the
    greatest volume of proppant in the industry. Halliburton developed the
    multi-zone completion technology in collaboration with Chevron U.S.A. Inc.
    The time savings realized for each of the three Chevron-operated wells
    completed with the ESTMZ system averaged 18 days, equating to
    approximately $22 million.
  *Halliburton’s SandCastle® PS-2500 vertical proppant storage bin was
    awarded E&P magazine’s Meritorious Award for Engineering Innovation at the
    Offshore Technology Conference. The SandCastle PS-2500 vertical bin helps
    address problems with space constraints at most well-site locations. The
    new unit offers a reduced footprint with no volume compromise as compared
    to a traditional horizontal proppant storage unit. The unit uses solar
    power for all power needs, eliminating the diesel engine normally
    required, and is equipped with an integrated weighing system for improved
    logistics.
  *Halliburton announced it is expanding its sonic fleet with the
    introduction of the XBAT^SM Azimuthal Sonic and Ultrasonic
    logging-while-drilling service. The XBAT LWD service delivers accurate
    acoustic measurements in a wide range of formations via sensors and
    electronics that are much less sensitive to drilling noise and have a
    wider frequency response. The result is a greater signal-to-noise ratio
    that enables better measurements, even in noisy drilling environments and
    poor hole conditions. With more than 100 successful runs, the XBAT LWD
    service delivered accurate measurements in formations from Brunei to
    Brazil and has been tested extensively in the challenging environments of
    the North Sea and the Gulf of Mexico.
  *Halliburton announced the deployment of nearly 100 light-duty compressed
    natural gas (CNG) trucks across 15 field locations in seven U.S. states as
    part of a pilot program. The environmentally friendly vehicles, when
    operating on CNG, emit about 90 percent less emissions than
    gasoline-powered vehicles and are estimated to save approximately $5,100
    per truck in annual fuel costs.
  *Halliburton announced the opening of its new Technology Center at the
    Federal University of Rio de Janeiro Technology Park, located at Ilha do
    FundFu, Rio de Janeiro, Brazil. The center provides the setting for
    collaboration as Halliburton works with the country's leading university
    and customer research groups to establish a global center of expertise for
    deepwater and mature fields.

Founded in 1919, Halliburton is one of the world's largest providers of
products and services to the energy industry. With more than 75,000 employees,
representing 140 nationalities in approximately 80 countries, the company
serves the upstream oil and gas industry throughout the lifecycle of the
reservoir - from locating hydrocarbons and managing geological data, to
drilling and formation evaluation, well construction and completion, and
optimizing production through the life of the field. Visit the company's
website at www.halliburton.com.

NOTE: The statements in this press release that are not historical statements,
including statements regarding future financial performance, are
forward-looking statements within the meaning of the federal securities laws.
These statements are subject to numerous risks and uncertainties, many of
which are beyond the company's control, which could cause actual results to
differ materially from the results expressed or implied by the statements.
These risks and uncertainties include, but are not limited to: results of
litigation, settlements, and investigations; actions by third parties,
including governmental agencies; whether a settlement relating to the Macondo
multi-district litigation will be reached at the amounts contemplated by our
reserve or at all; settlement discussions relating to the Macondo incident do
not cover all possible parties and claims, and there are additional reasonably
possible losses relating to the Macondo incident that we cannot reasonably
estimate at this time; with respect to repurchases of Halliburton common
stock, the trading prices of Halliburton common stock and the availability and
alternative uses of cash; changes in the demand for or price of oil and/or
natural gas can be significantly impacted by weakness in the worldwide
economy; consequences of audits and investigations by domestic and foreign
government agencies and legislative bodies and related publicity and potential
adverse proceedings by such agencies; indemnification and insurance matters;
protection of intellectual property rights and against cyber attacks;
compliance with environmental laws; changes in government regulations and
regulatory requirements, particularly those related to offshore oil and
natural gas exploration, radioactive sources, explosives, chemicals, hydraulic
fracturing services, and climate-related initiatives; compliance with laws
related to income taxes and assumptions regarding the generation of future
taxable income; risks of international operations, including risks relating to
unsettled political conditions, war, the effects of terrorism, foreign
exchange rates and controls, international trade and regulatory controls, and
doing business with national oil companies; weather-related issues, including
the effects of hurricanes and tropical storms; changes in capital spending by
customers; delays or failures by customers to make payments owed to us;
execution of long-term, fixed-price contracts; impairment of oil and natural
gas properties; structural changes in the oil and natural gas industry;
maintaining a highly skilled workforce; availability and cost of raw
materials; and integration of acquired businesses and operations of joint
ventures. Halliburton's Form 10-K for the year ended December 31, 2012, Form
10-Q for the quarter ended March 31, 2013, recent Current Reports on Form 8-K,
and other Securities and Exchange Commission filings discuss some of the
important risk factors identified that may affect Halliburton's business,
results of operations, and financial condition. Halliburton undertakes no
obligation to revise or update publicly any forward-looking statements for any
reason. There can be no assurance as to the amount, timing or prices of share
repurchases. The specific timing and amount of repurchases may vary based on
market conditions and other factors. The share repurchase program may be
suspended at any time.


HALLIBURTON COMPANY
Condensed Consolidated Statements of Operations
(Millions of dollars and shares except per share data)
(Unaudited)

                           Three Months Ended
                            June 30                              March 31
                          2013               2012             2013
Revenue:                                                      
Completion and              $   4,363           $   4,460         $  4,100
Production
Drilling and Evaluation    2,954             2,774           2,874     
Total revenue              $   7,317         $   7,234       $  6,974  
Operating income:
Completion and              $   732             $   914           $  615
Production
Drilling and Evaluation     415                 393               407
Corporate and other (a)    (108        )      (106        )    (1,120    )
Total operating income     1,039             1,201           (98       )
(loss)
Interest expense, net       (71         )       (80         )     (71       )
Other, net                 (11         )      (17         )    (14       )
Income (loss) from
continuing operations       957                 1,104             (183      )
before income taxes
Income tax benefit         (276        )      (357        )    172       
(provision) (b)
Income (loss) from          681                 747               (11       )
continuing operations
Income (loss) from
discontinued               2                 (8          )    (5        )
operations, net
Net income (loss)          $   683           $   739         $  (16    )
Noncontrolling interest
in net income of           (4          )      (2          )    (2        )
subsidiaries
Net income (loss)          $   679           $   737         $  (18    )
attributable to company
Amounts attributable to
company shareholders:
Income (loss) from          $   677             $   745           $  (13    )
continuing operations
Income (loss) from
discontinued               2                 (8          )    (5        )
operations, net
Net income (loss)          $   679           $   737         $  (18    )
attributable to company
Basic income (loss) per
share attributable to
company shareholders:
Income (loss) from          $   0.73            $   0.81          $  (0.01  )
continuing operations
Income (loss) from
discontinued               —                 (0.01       )    (0.01     )
operations, net
Net income (loss) per      $   0.73          $   0.80        $  (0.02  )
share
Diluted income (loss)
per share attributable
to company
shareholders:
Income (loss) from          $   0.73            $   0.80          $  (0.01  )
continuing operations
Income (loss) from
discontinued               —                 (0.01       )    (0.01     )
operations, net
Net income (loss) per      $   0.73          $   0.79        $  (0.02  )
share
Basic weighted average
common shares               925                 924               931
outstanding
Diluted weighted
average common shares      928               926             931       
outstanding
                                                                  
(a) Includes a $1.0 billion, pre-tax, charge in the three months ended March
31, 2013 related to the Macondo well incident.
(b) Includes $50 million in federal tax benefits in the three months ended
March 31, 2013.
See Footnote Table 1 for a reconciliation of as-reported operating income
(loss) to adjusted operating income.
See Footnote Table 2 for a reconciliation of as-reported income (loss) from
continuing operations to adjusted income from continuing operations.


HALLIBURTON COMPANY
Condensed Consolidated Statements of Operations
(Millions of dollars and shares except per share data)
(Unaudited)

                                                      Six Months Ended June 30
                                                     2013          2012
Revenue:
Completion and Production                             $  8,463      $ 8,750
Drilling and Evaluation                               5,828        5,352    
Total revenue                                         $  14,291    $ 14,102 
Operating income:
Completion and Production                             $  1,347      $ 1,950
Drilling and Evaluation                               822           761
Corporate and other (a)                               (1,228     )  (487     )
Total operating income                                941          2,224    
Interest expense, net                                 (142       )  (154     )
Other, net                                            (25        )  (24      )
Income from continuing operations before income taxes 774           2,046
Provision for income taxes (b)                        (104       )  (661     )
Income from continuing operations                     670           1,385
Loss from discontinued operations, net                (3         )  (16      )
Net income                                            $  667       $ 1,369  
Noncontrolling interest in net income of subsidiaries (6         )  (5       )
Net income attributable to company                    $  661       $ 1,364  
Amounts attributable to company shareholders:
Income from continuing operations                     $  664        $ 1,380
Loss from discontinued operations, net                (3         )  (16      )
Net income attributable to company                    $  661       $ 1,364  
Basic income per share attributable to company
shareholders:
Income from continuing operations                     $  0.72       $ 1.50
Loss from discontinued operations, net                (0.01      )  (0.02    )
Net income per share                                  $  0.71      $ 1.48   
Diluted income per share attributable to company
shareholders:
Income from continuing operations                     $  0.71       $ 1.49
Loss from discontinued operations, net                —            (0.02    )
Net income per share                                  $  0.71      $ 1.47   
Basic weighted average common shares outstanding      928           923
Diluted weighted average common shares outstanding    931          926      


       Includes a $1.0 billion, pre-tax, charge in the six months ended June
(a)   30, 2013, and a $300 million, pre-tax, charge in the six months ended
       June 30, 2012, related to the Macondo well incident.
(b)    Includes $50 million in federal tax benefits in the six months ended
       June 30, 2013.
See Footnote Table 1 for a reconciliation of as-reported operating income to
adjusted operating income.


HALLIBURTON COMPANY
Condensed Consolidated Balance Sheets
(Millions of dollars)

                                (Unaudited)            
                                June 30                     December 31
                               2013                        2012
Assets
Current assets:
Cash and equivalents            $     1,412                  $      2,484
Receivables, net                6,359                        5,787
Inventories                     3,341                        3,186
Other current assets (a)        1,489                      1,629
Total current assets            12,601                       13,086
                                                             
Property, plant, and equipment, 10,753                       10,257
net
Goodwill                        2,116                        2,135
Other assets (b)                1,928                      1,932
Total assets                    $     27,398               $      27,410
                                                             
Liabilities and Shareholders’ Equity
Current liabilities:
Accounts payable                $     2,251                  $      2,041
Accrued employee compensation   867                          930
and benefits
Other current liabilities (c)   1,604                      1,781
Total current liabilities       4,722                        4,752
                                                             
Long-term debt                  4,820                        4,820
Loss contingency for Macondo    1,022                        300
well incident
Other liabilities               1,434                      1,748
Total liabilities               11,998                       11,620
                                                             
Company shareholders’ equity    15,372                       15,765
Noncontrolling interest in      28                         25
consolidated subsidiaries
Total shareholders’ equity      15,400                     15,790
Total liabilities and           $     27,398               $      27,410
shareholders’ equity
                                                             
(a) Includes $146 million of investments in fixed income securities at June
30, 2013, and $270 million of investments in fixed income securities at
December 31, 2012.
(b) Includes $131 million of investments in fixed income securities at June
30, 2013, and $128 million of investments in fixed income securities at
December 31, 2012.
(c) Includes a $278 million loss contingency related to the Macondo well
incident at June 30, 2013.


HALLIBURTON COMPANY
Condensed Consolidated Statements of Cash Flows
(Millions of dollars)
(Unaudited)

                                       Six Months Ended
                                         June 30
                                      2013               2012
Cash flows from operating                                  
activities:
Net income                               $    667           $    1,369
Adjustments to reconcile net income
to net cash flows from operating
activities:
Loss contingency for Macondo well        1,000                 300
incident
Depreciation, depletion, and             922                   791
amortization
Payment of Barracuda-Caratinga           (219          )       —
obligation
Other, primarily working capital       (899          )    (1,325        )
Total cash flows from operating        1,471             1,135         
activities
                                                               
Cash flows from investing
activities:
Capital expenditures                     (1,396        )       (1,651        )
Sales of investment securities           232                   200
Purchases of investment securities       (110          )       (100          )
Other                                  83                34            
Total cash flows from investing        (1,191        )    (1,517        )
activities
                                                               
Cash flows from financing
activities:
Payments to reacquire common stock       (1,015        )       —
Dividends to shareholders                (231          )       (167          )
Other                                  (83           )    25            
Total cash flows from financing        (1,329        )    (142          )
activities
                                                               
Effect of exchange rate changes on     (23           )    (2            )
cash
Decrease in cash and equivalents         (1,072        )       (526          )
Cash and equivalents at beginning of   2,484             2,698         
period
Cash and equivalents at end of         $    1,412     $    2,172 
period
                                                                             

HALLIBURTON COMPANY
Revenue and Operating Income Comparison
By Segment and Geographic Region
(Millions of dollars)
(Unaudited)

                             Three Months Ended
                            June 30                             March 31
Revenue by geographic        2013               2012            2013
region:
Completion and Production:                                    
North America                $   2,876           $   3,167        $  2,745
Latin America                391                 340              355
Europe/Africa/CIS            576                 551              532
Middle East/Asia             520               402            468       
Total                        4,363             4,460          4,100     
Drilling and Evaluation:
North America                926                 973              961
Latin America                553                 539              590
Europe/Africa/CIS            723                 605              655
Middle East/Asia             752               657            668       
Total                        2,954             2,774          2,874     
Total revenue by region:
North America                3,802               4,140            3,706
Latin America                944                 879              945
Europe/Africa/CIS            1,299               1,156            1,187
Middle East/Asia             1,272             1,059          1,136     
Total revenue                $   7,317         $   7,234      $  6,974  
                                                                  
Operating income by                                           
geographic region:
Completion and Production:
North America                $   517             $   691          $  432
Latin America                48                  54               28
Europe/Africa/CIS            74                  95               64
Middle East/Asia             93                74             91        
Total                        732               914            615       
Drilling and Evaluation:
North America                149                 166              173
Latin America                53                  84               81
Europe/Africa/CIS            87                  64               57
Middle East/Asia             126               79             96        
Total                        415               393            407       
Total operating income by
region:
North America                666                 857              605
Latin America                101                 138              109
Europe/Africa/CIS            161                 159              121
Middle East/Asia             219               153            187       
Corporate and other          (108        )      (106       )    (1,120    )
Total operating income       $   1,039         $   1,201      $  (98    )
(loss)
                                                                  
See Footnote Table 1 for a reconciliation of as-reported operating income
(loss) to adjusted operating income.


HALLIBURTON COMPANY
Revenue and Operating Income Comparison
By Segment and Geographic Region
(Millions of dollars)
(Unaudited)

                                   Six Months Ended June 30
Revenue by geographic region:      2013                   2012
Completion and Production:
North America                      $     5,621            $     6,349
Latin America                      746                    646
Europe/Africa/CIS                  1,108                  1,007
Middle East/Asia                   988                   748             
Total                              8,463                 8,750           
Drilling and Evaluation:
North America                      1,887                  1,959
Latin America                      1,143                  1,013
Europe/Africa/CIS                  1,378                  1,161
Middle East/Asia                   1,420                 1,219           
Total                              5,828                 5,352           
Total revenue by region:
North America                      7,508                  8,308
Latin America                      1,889                  1,659
Europe/Africa/CIS                  2,486                  2,168
Middle East/Asia                   2,408                 1,967           
Total revenue                      $     14,291          $     14,102    
                                                          
Operating income by geographic                           
region:
Completion and Production:
North America                      $     949              $     1,562
Latin America                      76                     109
Europe/Africa/CIS                  138                    152
Middle East/Asia                   184                   127             
Total                              1,347                 1,950           
Drilling and Evaluation:
North America                      322                    356
Latin America                      134                    151
Europe/Africa/CIS                  144                    104
Middle East/Asia                   222                   150             
Total                              822                   761             
Total operating income by region:
North America                      1,271                  1,918
Latin America                      210                    260
Europe/Africa/CIS                  282                    256
Middle East/Asia                   406                   277             
Corporate and other                (1,228           )     (487            )
Total operating income             $     941             $     2,224     
                                                          
See Footnote Table 1 for a reconciliation of as-reported operating income to
adjusted operating income.


FOOTNOTE TABLE 1

HALLIBURTON COMPANY
Reconciliation of As Reported Operating Income to Adjusted Operating Income
(Millions of dollars)
(Unaudited)

                               Six Months Ended                  Three Months
                            June 30                        Ended
                                                                 March 31
                           2013           2012         2013
As reported operating          $  941        $ 2,224      $    (98  )
income (loss)
Macondo-related charge      1,000         300         1,000      
(a)
Adjusted operating          $  1,941     $ 2,524     $    902  
income (a)

      Management believes that operating income (loss) adjusted for the
      Macondo-related charges for the three months ended March 31, 2013 and
      for the six months ended June 30, 2013 and 2012 is useful to investors
      to assess and understand operating performance, especially when
      comparing those results with previous and subsequent periods or
      forecasting performance for future periods, primarily because management
(a)  views the excluded items to be outside of the company's normal operating
      results. Management analyzes operating income (loss) without the impact
      of these items as an indicator of performance, to identify underlying
      trends in the business, and to establish operational goals. The
      adjustments remove the effects of these expenses. Adjusted operating
      income is calculated as: “As reported operating income (loss)” plus
      “Macondo-related charge” for the three months ended March 31, 2013 and
      the six months ended June 30, 2013 and 2012.
      

FOOTNOTE TABLE 2

HALLIBURTON COMPANY
Reconciliation of As Reported Income from Continuing Operations to
Adjusted Income from Continuing Operations
(Millions of dollars)
(Unaudited)

                                                          Three Months Ended
                                                            March 31
                                                         2013
As reported loss from continuing operations                 $    (13      )
attributable to company
Macondo-related charge, net of tax (a)                    637           
Adjusted income from continuing operations attributable   $    624      
to company (a)
                                                            
As reported diluted weighted average common shares          931
outstanding
Adjusted diluted weighted average common shares             935
outstanding (b)
                                                            
As reported loss from continuing operations per diluted     $    (0.01    )
share (c)
Adjusted income from continuing operations per diluted    $    0.67     
share (c)

      Management believes that loss from continuing operations adjusted for
      the Macondo-related charge for the quarter ended March 31, 2013 is
      useful to investors to assess and understand operating performance,
      especially when comparing those results with previous and subsequent
      periods or forecasting performance for future periods, primarily because
      management views the excluded item to be outside of the company's normal
(a)  operating results. Management analyzes income from continuing operations
      without the impact of this item as an indicator of performance, to
      identify underlying trends in the business, and to establish operational
      goals. The adjustment removes the effect of this expense. Adjusted
      income from continuing operations attributable to company is calculated
      as: “As reported loss from continuing operations attributable to
      company” plus “Macondo-related charge, net of tax.”
      As reported diluted weighted average common shares outstanding excludes
      four million shares of common stock associated with awards granted under
      employee stock plans as their impact would be antidilutive since our
(b)   reported continuing operations attributable to company was in a loss
      position. When adjusting income from continuing operations attributable
      to company for the Macondo-related charge, these four million shares
      become dilutive.
      As reported loss from continuing operations per diluted share is
      calculated as: “As reported loss from continuing operations attributable
      to company” divided by “As reported diluted weighted average common
(c)   shares outstanding.” Adjusted income from continuing operations per
      diluted share is calculated as: “Adjusted income from continuing
      operations attributable to company” divided by “Adjusted diluted
      weighted average common shares outstanding.”
      

Conference Call Details

Halliburton (NYSE:HAL) will host a conference call on Monday, July22, 2013,
to discuss the second quarter 2013 financial results. The call will begin at
8:00 AM Central Time (9:00 AM Eastern Time).

Halliburton’s second quarter press release will be posted on the Halliburton
website at www.halliburton.com. Please visit the website to listen to the call
live via webcast. In addition, you may participate in the call by telephone at
(703) 639-1124. A passcode is not required. Attendees should log in to the
webcast or dial in approximately 15 minutes prior to the call’s start time.

A replay of the conference call will be available on Halliburton’s website for
seven days following the call. Also, a replay may be accessed by telephone at
(703) 925-2533, passcode 1612360.

Contact:

Halliburton
Kelly Youngblood
Halliburton, Investor Relations
investors@halliburton.com
281/871-2688
or
Beverly Blohm Stafford
Halliburton, Corporate Affairs
PR@halliburton.com
281/871-2601
 
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