Halliburton Completes $1 Billion of Share Repurchases in the Second Quarter and Increases Share Repurchase Authorization to $5

  Halliburton Completes $1 Billion of Share Repurchases in the Second Quarter
  and Increases Share Repurchase Authorization to $5 Billion; Declares
  Quarterly Dividend

Business Wire

HOUSTON -- July 22, 2013

Halliburton (NYSE: HAL) reported today that during the second quarter, the
company purchased 23 million shares of common stock at a total cost of $1.0
billion. This significant repurchase activity left $0.7 billion of repurchase
capacity remaining under a program initially authorized by Halliburton’s board
of directors in 2006.

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
repurchase capacity of $5.0 billion.

“Today’s announcement, together with the 39% increase in dividends announced
in the first quarter, reflects our growing confidence in the strength of our
business outlook,” said Dave Lesar, chairman, president and chief executive
officer. “We believe that our relentless focus on generating best-in-class
returns and our commitment to shareholder distributions will deliver increased
value to our shareholders going forward.”

Halliburton’s board of directors also declared a 2013 third quarter dividend
of twelve and one-half cents ($0.125) a share on the company’s common stock
payable September 25, 2013 to shareholders of record at the close of business
on September 4, 2013. The company also reaffirmed Halliburton’s intention to
distribute total annual dividends of at least 15-20% of net income.

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 and distributions,
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, the trading
prices of Halliburton common stock and the availability and alternative uses
of cash, and the results of litigation, settlements, and investigations,
including those relating to the Macondo well incident. 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 also discuss some of the important risk factors
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 or the amount or timing of
dividends. 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.

Contact:

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