In 1919, Erle P. Halliburton founded the New Method Oil Well Cementing Company, the precursor to today's Halliburton Company.
His innovations transformed oil well cementing—the jet mixer enhanced mixing precision, while the measuring line brought exactness to cement volume control.
The company's proven methods sparked rapid international growth.
By 1926, Halliburton had planted roots in Burma and India.
Soon, their distinctive red trucks appeared at oil fields across Europe, South America, and the Middle East.
When the Great Depression gripped America's economy, Halliburton's solid foundation held firm.
The company not only survived but continued expanding through the harsh economic climate of the 1930s and into the war years of the 1940s.
Erle P. Halliburton led his company's ascent until his death in 1957, leaving behind an enterprise that had fundamentally reshaped oil well cementing technology.
After Erle P. Halliburton died in 1957, Preach Meaders took command of Halliburton Company as President, Chairman, and CEO.
Meaders drove international growth through strategic acquisitions.
He purchased Welex, adding jet perforation capabilities, and Otis Engineering, gaining crucial pressure control technology for oil and gas wells.
In 1959, Meaders pushed Halliburton into offshore drilling with an innovative solution: mounting a cement truck on a barge off Louisiana's coast to service the first offshore well.
Market pressures intensified as competitors flooded the oil and gas sector, squeezing profit margins and demanding constant innovation.
But it didn’t matter, Meaders achieved a crucial milestone in 1952 when Halliburton's revenue crossed $100 million for the first time.
John Harbin led Halliburton Company through critical expansion as Chairman, President, and CEO from 1972 onward.
His leadership sparked two major advances:
Harbin pushed Halliburton beyond traditional boundaries, establishing operations at Alaska's Prudhoe Bay in 1969 and forging new partnerships in China and the Soviet Union.
Though oil and gas price volatility challenged the company's stability, Halliburton achieved a significant milestone under his watch: delivering its billionth sack of cement to customers in 1983.
Thomas Cruikshank led Halliburton as Chairman and CEO from 1983 to 1995, leading the company through technological advancement and market turbulence.
His leadership prioritized innovation, marked by the 1980 launch of a research center in Duncan, Oklahoma.
The 1989 acquisition of Gearhart Industries strengthened Halliburton's position in logging and perforating services, integrating with their Welex division to create Halliburton Logging Services.
The 1980s oil glut tested Cruikshank's leadership as oil prices plummeted, shrinking demand for oilfield services.
Halliburton pushed into new markets, securing projects in China and the Soviet Union.
Cruikshank's tenure ended in controversy.
In the early 1990s, Halliburton faced legal consequences for breaching federal trade restrictions with Iraq and Libya, resulting in financial penalties that tarnished the company's reputation.
In 1995, Dick Cheney took control of Halliburton as Chairman and CEO, five years before becoming Vice President under George W. Bush.
He led the company toward aggressive international growth, emphasizing operations in the Middle East's lucrative oil services market.
His most significant move came in 1998 with the purchase of Dresser Industries, which brought the M.W. Kellogg division under Halliburton's umbrella.
A merger created Kellogg Brown & Root (KBR), strengthening Halliburton's position in engineering and construction.
Cheney's leadership raised serious questions about corporate conduct.
The company faced direct accusations of overcharging the U.S. government on contracts and circumventing Iranian sanctions through overseas subsidiaries.
These issues cast a shadow over Cheney's later role as Vice President, as critics pointed to his time at Halliburton as evidence of troubling connections between government power and corporate interests.
Dave Lesar led Halliburton from 2000 to 2017, succeeding Dick Cheney.
His 17-year leadership transformed the company while weathering major controversies.
The Iraq War defined much of Lesar's tenure.
Halliburton secured billions in government contracts for oil services and reconstruction, but faced accusations of fraud and cost inflation.
The company's revenue grew, yet public scrutiny intensified.
In 2010, the Deepwater Horizon disaster implicated Halliburton's well cementing work in the Gulf of Mexico spill.
Despite this setback, Lesar expanded operations across the Middle East and North America.
His final years saw an unsuccessful $35 billion pursuit of Baker Hughes, blocked by antitrust regulators.
Jeff Miller became Halliburton's President in August 2014 and CEO in June 2017.
His leadership has centered on navigating three key challenges:
Miller has pushed Halliburton to embrace technological advancement.
The company now leverages artificial intelligence and data analytics to optimize operations, while developing services for renewable energy projects.
His tenure has brought specific hurdles: direct competition from Baker Hughes and Schlumberger, shareholder demands for higher profit margins, and complex negotiations in Middle Eastern markets where political tensions affect business operations.
Despite these pressures, Halliburton maintains its position as a leading oilfield services provider.
The company continues to secure major drilling and well completion contracts across global markets.
Miller now faces a critical task of adapting Halliburton's core business model to meet emerging energy market demands while preserving its technical expertise in traditional oil and gas services.