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Halliburton SWOT & PESTLE Analysis

ID : 52368753| Dec 2018| 15 pages

COMPANY PROFILE -Halliburton

Business Sector :Oil & Gas

Operating Geography :United States, Global

About Halliburton :

Halliburton is an American multinational energy firm which employs over fifty thousand people as of 2018; and has dual headquarters in Dubai and Houston. It operates in the petroleum and natural gas exploration and production domain in over 70 countries. It also offers digital and consulting energy solutions, volume optimizations, fluid systems amongst other services through its several subsidies. It has a strong corporate governance code and maintains high health, environment and safety standards within the firm. Its mission as a company identifies what it does today, why it does so and for whom. While its vision defines what it aspires to be like and give it an image of success.

Halliburton Revenue :

$511 million (Q2-2018)(y-o-y growth ???) $15.9 billion (FY 2017)

Competitive Analysis of Halliburton

SWOT
PESTLE
The SWOT analysis of Halliburton is presented below:
Strengths
Weaknesses
1. One of the world’s largest providers of products and services in the energy domain
2. Strong technology arm with heavy inclination towards continuous innovation
3. Multiple product service lines (14) with Drilling, Production, Consulting being its key focus
4. Worldwide operations in across 70 countries with end-to-end service right from locating hydrocarbons to optimizing production
5. Strong brand value and constantly rated as the top firms in the oil and gas service sector
6. Strong CSR focus with initiatives including building schools, environment conservation etc. through the Halliburton Foundation
1. Highly dependent on the international crude prices with volatility impacting its profitability
2. Multiple and strict governmental compliances norms to be followed in energy and gas sector resulting in operational slowdown
3. International sanctions and trade restrictions impacts business both in terms of product and technology
4. High environmental clean-up costs and other liabilities due to environmental laws
5. Negative profit margin, underperforming when compared to its key competitors
Opportunities
Threats
1. New Fracturing operations opportunities with high demand for Shale gas
2. Utilizing latest patented technology to identify new exploration fields in times of depleting resources through its Landmark Solution subsidiary
3. Increasing support to oil fields based deep in the ocean bedrock in the backdrop of rapidly depleting land based oil wells
4. Improvement in the economy and better oil prices futures will increase firm’s profitability
5. Reduction in the oil product transport cost due to improvement plans in its supply chain
6. Increasing investments in unconventional resources like shale, tight gas, coalbed methane and heavy oil will diversify its portfolio
1. Indirect threat to oil prices from shale fracking would result in operational losses
2. Increased competition in the oil and gas industry will wipe out the profitability
3. Different liability laws in different countries exposes Halliburton to operational risks like stoppage of operations
4. Constant danger to its assets with Macondo incident (rig sinking) leading to high unforeseeable costs
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Detailed SWOT Analysis of Halliburton

 

Strength

1. Strong product and services portfolio: Halliburton Company operates majorly in two segments – Completion and Production and Drilling and Evaluation segments. Completion and Production delivers cementing, stimulation, intervention, pressure control, specialty chemicals, artificial lift and completion of products and services. Drilling and Evaluation provides field and reservoir modeling, drilling, evaluation and precise wellbore placement solutions that enable customers to model, measure, drill and optimize their well construction activities. Completion and Production revenue in the second quarter of 2018 was $4.2 billion; an increase of $357 million, or 9%, from the first quarter of 2018 while operating income was $669 million, an increase of $169 million, or 34%. Drilling and Evaluation revenue in the second quarter of 2018 was $2.0 billion, an increase of $50 million, or 3%, from the first quarter of 2018, while operating income was $191 million, an increase of $3 million, or 2%.

2. Strong Technology arm: Halliburton maintains an active research and development program. The program improves products, processes and engineering standards that serve the changing needs of our customers, such as those related to high pressure and high temperature environments. This program is also responsible for the development of new products and processes. Through this program the company had developed a number of new and efficient tools in 2017 like the Geometrix™ 4D Shaped Cutters, Sperry Drilling’s JetPulse™ and the Express Kinect™ Wellhead Connection Unit. The Sperry Drilling’s JetPulse™ high-speed telemetry service is an importat innovation as it enables operators to make better decisions faster while the Express Kinect™ Wellhead Connection Unit allows the company to deliver better efficiency and safety for multi-well fracturing operations. The R&D expenditures were $360 million in 2017, $329 million in 2016 and $487 million in 2015.

3. Wide International Operations: Halliburton operations are widely distributed throughout approximately 70 countries. They provide a comprehensive range of services and products to the energy industry. A significant amount of the consolidated revenue comes from the sale of services and products to major, national and independent oil and natural gas companies worldwide. The competitive industry witnesses many competitors in each segment of the business. In 2017, 2016 and 2015, based on the location of services provided and products sold, 53%, 41% and 44%, respectively of the consolidated revenue was from the United States. The Middle East continues to be the most active international market. In this area the largest part of the work is focused on maximizing production in mature fields with the use of technology and expanded reservoir knowledge.

4. Strong Brand Value: Halliburton is a popular brand in the Energy segment. The company ranks 743 as per the Forbes 2017 global public list and 274 in the America’s largest public companies list. 2018 saw the company achieving rank 146 as per the Fortune 500 rankings. Apart from this Halliburton ranks No. 7 on the Transport Topics Top 100 list of the largest private carriers in North America. The Company has also received much recognition with respect to Digital transformations and sustainability ratings in safety and occupational hazard category.

Weakness

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Opportunity

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Threat

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Halliburton SWOT and PESTLE analysis has been conducted by and reviewed by senior analysts from Barakaat Consulting.

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Halliburton SWOT & PESTLE Analysis
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