|
1-3492
|
No.
75-2677995
|
|
(Commission
File Number)
|
(IRS
Employer Identification No.)
|
|
1401
McKinney, Suite 2400, Houston, Texas
|
77010
|
|
(Address
of Principal Executive Offices)
|
(Zip
Code)
|
|
o
|
Written
communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425)
|
|
o
|
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|
|
o
|
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR
240.14d-2(b))
|
|
o
|
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR
240.13e-4(c))
|
|
|
|
|
|
·
|
Halliburton
has been awarded the oilfield services component of the largest
oil
development project in the Arabian Gulf Region since the 1950s
- the Saudi
Aramco Khurais mega project. This three-year contract includes
a full
range of Halliburton’s integrated services and technologies. In order to
produce an expected 1.2 million barrels of oil per day for several
years,
the project will utilize up to 23 rigs to support the drilling
and
completion of more than 300 wells. Development of this project
is a key
contributor to Saudi Aramco’s plan of increasing production
capacity.
|
|
|
·
|
Halliburton’s
Fluid Systems segment has been awarded contracts by Statoil valued
in
excess of $193 million for cementing services and drilling and
completion
fluids. The initial contract duration is two years with additional
extension options of three two-year periods. The scope of work
includes
drilling fluids and drilling waste management, cementing services
and
completion fluids, and pumping services in the following fields:
Sleipner/Volve, Visund, Snorre, Tordis/Vigdis, Tyrihans, Heidrun,
and
Åsgard; as well as exploration drilling. In addition, the contract
includes cementing services, completion fluids, and pumping services
in
the following fields: Statfjord, Statfjord satellites, Gullfaks
satellites, and Kvitebjørn/Valemon; and cementing services in the Norne
field.
|
|
|
·
|
Halliburton
has been awarded a $150 million contract to provide integrated
drilling
and well services in Norway to Drilling Production Technology AS.
Halliburton’s scope of work on the project will include directional
drilling, logging-while-drilling, mud logging, drilling fluids
and
drilling waste management, cementing, and coring services. Halliburton’s
project management team will manage and integrate the service offerings
with support from one of our Real Time Centers, and the customer
will be
able to monitor ongoing rig operations by accessing real-time information
in its offices.
|
|
|
·
|
Halliburton
announced that the company’s Fluid Systems segment has developed the
world’s first combined cutting slurrification and cement batch mixer
package. This package offers operators an integrated solution to
their
cementing and waste management needs, while saving valuable rig
space and
reducing manpower and inventory
requirements.
|
|
|
·
|
Halliburton’s
Production Optimization segment announced its most recent technology,
PropStopSM
service, which is designed to help address the declining production
rates
often seen in fractured wells in mature assets. PropStop service
extends
an already broad and unique range of offerings designed to mitigate
proppant and fines production. When applied, PropStop service helps
maintain highly conductive fractures and long-term
productivity.
|
|
|
·
|
Halliburton
announced that it has won four Hart's
E&P
meritorious engineering achievement awards for 2006. William Pike,
Hart's
editor-in-chief, presented the awards on May 1, 2006, at the Offshore
Technology Conference in Houston. The four winning Halliburton
technologies are: the Hostile Sequential Formation Tester (HSFT™) logging
tool; the Chi Modeling® post-processing system; the StimWatchSM
stimulation monitoring service; and the Swellpacker™ isolation
system.
|
|
|
·
|
KBR
announced that it has been awarded a lump-sum services contract
by Saudi
Kayan Petrochemical Company (a Saudi Basic Industries Corp. affiliate)
for
engineering, procurement, and construction management of a 1.35
million-ton-per-year ethylene plant to be built in Jubail City,
Saudi
Arabia. The 1.35 million-ton-per-year plant is the fourth grassroots
cracker that will use KBR’s SCORE™ (Selective Cracking Optimum Recovery)
technology. Front-end engineering and design work will take place
in KBR’s
Houston headquarters, while engineering and procurement activities
will
take place in the company’s Singapore
facility.
|
|
|
·
|
Aspire
Defence, a joint venture between KBR, Mowlem plc, and a financial
investor, has been awarded the Ministry of Defence’s Allenby and Connaught
£8 billion (US$13.9 billion) private finance initiative contract
to
upgrade and provide a range of services to the British Army’s garrisons at
Aldershot and around Salisbury Plain in the United Kingdom. KBR’s June 30,
2006 firm-order backlog figures reflect $2.1 billion related to
this
award.
|
|
|
|
Three
Months Ended
June
30
|
|
Three
Months Ended
March
31
|
|
|||||
|
|
|
2006
|
|
2005
|
|
2006
|
|
|||
|
Revenue:
|
|
|
|
|
|
|
|
|||
|
Production
Optimization
|
|
$
|
1,292
|
|
$
|
971
|
|
$
|
1,196
|
|
|
Fluid
Systems
|
|
|
870
|
|
|
699
|
|
|
836
|
|
|
Drilling
and Formation Evaluation
|
|
|
774
|
|
|
641
|
|
|
725
|
|
|
Digital
and Consulting Solutions
|
|
|
180
|
|
|
160
|
|
|
181
|
|
|
Total
Energy Services Group
|
|
|
3,116
|
|
|
2,471
|
|
|
2,938
|
|
|
Government
and Infrastructure
|
|
|
1,881
|
|
|
2,035
|
|
|
1,708
|
|
|
Energy
and Chemicals
|
|
|
548
|
|
|
467
|
|
|
538
|
|
|
Total
KBR
|
|
|
2,429
|
|
|
2,502
|
|
|
2,246
|
|
|
Total
revenue
|
|
$
|
5,545
|
|
$
|
4,973
|
|
$
|
5,184
|
|
|
Operating
income (loss):
|
|
|
|
|
|
|
|
|
|
|
|
Production
Optimization
|
|
$
|
357
|
|
$
|
231
|
|
$
|
324
|
|
|
Fluid
Systems
|
|
|
193
|
|
|
135
|
|
|
182
|
|
|
Drilling
and Formation Evaluation
|
|
|
189
|
|
|
140
|
|
|
172
|
|
|
Digital
and Consulting Solutions
|
|
|
52
|
|
|
16
|
|
|
49
|
|
|
Total
Energy Services Group
|
|
|
791
|
|
|
522
|
|
|
727
|
|
|
Government
and Infrastructure
|
|
|
68
|
|
|
72
|
|
|
20
|
|
|
Energy
and Chemicals
|
|
|
(109
|
)
|
|
39
|
|
|
42
|
|
|
Total
KBR
|
|
|
(41
|
)
|
|
111
|
|
|
62
|
|
|
General
corporate
|
|
|
(32
|
)
|
|
(37
|
)
|
|
(34
|
)
|
|
Total
operating income
|
|
|
718
|
|
|
596
|
|
|
755
|
|
|
Interest
expense
|
|
|
(43
|
)
|
|
(51
|
)
|
|
(47
|
)
|
|
Interest
income
|
|
|
38
|
|
|
9
|
|
|
28
|
|
|
Foreign
currency, net
|
|
|
(10
|
)
|
|
(7
|
)
|
|
8
|
|
|
Other,
net
|
|
|
(4
|
)
|
|
(3
|
)
|
|
3
|
|
|
Income
from continuing operations before income taxes and minority
interest
|
|
|
699
|
|
|
544
|
|
|
747
|
|
|
Provision
for income taxes
|
|
|
(226
|
)
|
|
(150
|
)
|
|
(255
|
)
|
|
Minority
interest in net income (loss) of subsidiaries
|
|
|
36
|
|
|
(10
|
)
|
|
(11
|
)
|
|
Income
from continuing operations
|
|
|
509
|
|
|
384
|
|
|
481
|
|
|
Income
from discontinued operations, net
|
|
|
82
|
|
|
8
|
|
|
7
|
|
|
Net
income
|
|
$
|
591
|
|
$
|
392
|
|
$
|
488
|
|
|
Basic
income per share:
|
|
|
|
|
|
|
|
|
|
|
|
Income
from continuing operations
|
|
$
|
0.50
|
|
$
|
0.38
|
|
$
|
0.47
|
|
|
Income
from discontinued operations, net
|
|
|
0.08
|
|
|
0.01
|
|
|
0.01
|
|
|
Net
income
|
|
$
|
0.58
|
|
$
|
0.39
|
|
$
|
0.48
|
|
|
Diluted
income per share:
|
|
|
|
|
|
|
|
|
|
|
|
Income
from continuing operations
|
|
$
|
0.48
|
|
$
|
0.37
|
|
$
|
0.45
|
|
|
Income
from discontinued operations, net
|
|
|
0.07
|
|
|
0.01
|
|
|
0.01
|
|
|
Net
income
|
|
$
|
0.55
|
|
$
|
0.38
|
|
$
|
0.46
|
|
|
Basic
weighted average common shares outstanding
|
|
|
1,026
|
|
|
1,006
|
|
|
1,024
|
|
|
Diluted
weighted average common shares outstanding
|
|
|
1,070
|
|
|
1,026
|
|
|
1,068
|
|
|
|
|
Six
Months Ended
June
30
|
|
||||
|
|
|
2006
|
|
2005
|
|
||
|
Revenue:
|
|
|
|
|
|
||
|
Production
Optimization
|
|
$
|
2,488
|
|
$
|
1,805
|
|
|
Fluid
Systems
|
|
|
1,706
|
|
|
1,330
|
|
|
Drilling
and Formation Evaluation
|
|
|
1,499
|
|
|
1,196
|
|
|
Digital
and Consulting Solutions
|
|
|
361
|
|
|
324
|
|
|
Total
Energy Services Group
|
|
|
6,054
|
|
|
4,655
|
|
|
Government
and Infrastructure
|
|
|
3,589
|
|
|
4,123
|
|
|
Energy
and Chemicals
|
|
|
1,086
|
|
|
978
|
|
|
Total
KBR
|
|
|
4,675
|
|
|
5,101
|
|
|
Total
revenue
|
|
$
|
10,729
|
|
$
|
9,756
|
|
|
Operating
income (loss):
|
|
|
|
|
|
|
|
|
Production
Optimization
|
|
$
|
681
|
|
$
|
511
|
|
|
Fluid
Systems
|
|
|
375
|
|
|
248
|
|
|
Drilling
and Formation Evaluation
|
|
|
361
|
|
|
231
|
|
|
Digital
and Consulting Solutions
|
|
|
101
|
|
|
45
|
|
|
Total
Energy Services Group
|
|
|
1,518
|
|
|
1,035
|
|
|
Government
and Infrastructure
|
|
|
88
|
|
|
125
|
|
|
Energy
and Chemicals
|
|
|
(67
|
)
|
|
80
|
|
|
Total
KBR
|
|
|
21
|
|
|
205
|
|
|
General
corporate
|
|
|
(66
|
)
|
|
(69
|
)
|
|
Total
operating income
|
|
|
1,473
|
|
|
1,171
|
|
|
Interest
expense
|
|
|
(90
|
)
|
|
(103
|
)
|
|
Interest
income
|
|
|
66
|
|
|
21
|
|
|
Foreign
currency, net
|
|
|
(2
|
)
|
|
(7
|
)
|
|
Other,
net
|
|
|
(1
|
)
|
|
(5
|
)
|
|
Income
from continuing operations before income taxes and minority interest
|
|
|
1,446
|
|
|
1,077
|
|
|
Provision
for income taxes
|
|
|
(481
|
)
|
|
(316
|
)
|
|
Minority
interest in net income (loss) of subsidiaries
|
|
|
25
|
|
|
(18
|
)
|
|
Income
from continuing operations
|
|
|
990
|
|
|
743
|
|
|
Income
from discontinued operations, net
|
|
|
89
|
|
|
14
|
|
|
Net
income
|
|
$
|
1,079
|
|
$
|
757
|
|
|
Basic
income per share:
|
|
|
|
|
|
|
|
|
Income
from continuing operations
|
|
$
|
0.97
|
|
$
|
0.74
|
|
|
Income
from discontinued operations, net
|
|
|
0.08
|
|
|
0.01
|
|
|
Net
income
|
|
$
|
1.05
|
|
$
|
0.75
|
|
|
Diluted
income per share:
|
|
|
|
|
|
|
|
|
Income
from continuing operations
|
|
$
|
0.93
|
|
$
|
0.73
|
|
|
Income
from discontinued operations, net
|
|
|
0.08
|
|
|
0.01
|
|
|
Net
income
|
|
$
|
1.01
|
|
$
|
0.74
|
|
|
Basic
weighted average common shares outstanding
|
|
|
1,025
|
|
|
1,004
|
|
|
Diluted
weighted average common shares outstanding
|
|
|
1,069
|
|
|
1,024
|
|
|
|
|
June
30,
2006
|
|
March
31,
2006
|
|
December
31,
2005
|
|
|||
|
Assets
|
|
|||||||||
|
Current
assets:
|
|
|
|
|
|
|
|
|||
|
Cash
and equivalents
|
|
$
|
3,673
|
|
$
|
2,278
|
|
$
|
2,391
|
|
|
Receivables,
net
|
|
|
4,806
|
|
|
4,952
|
|
|
4,801
|
|
|
Inventories,
net
|
|
|
1,128
|
|
|
1,086
|
|
|
953
|
|
|
Other
current assets
|
|
|
1,044
|
|
|
1,474
|
|
|
1,167
|
|
|
Total
current assets
|
|
|
10,651
|
|
|
9,790
|
|
|
9,312
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property,
plant, and equipment, net
|
|
|
2,774
|
|
|
2,675
|
|
|
2,648
|
|
|
Other
assets
|
|
|
2,749
|
|
|
2,705
|
|
|
3,050
|
|
|
Total
assets
|
|
$
|
16,174
|
|
$
|
15,170
|
|
$
|
15,010
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities
and Shareholders’ Equity
|
||||||||||
|
Current
liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
Accounts
payable
|
|
$
|
1,817
|
|
$
|
1,688
|
|
$
|
1,967
|
|
|
Current
maturities of long-term debt
|
|
|
360
|
|
|
360
|
|
|
361
|
|
|
Other
current liabilities
|
|
|
2,586
|
|
|
2,114
|
|
|
2,099
|
|
|
Total
current liabilities
|
|
|
4,763
|
|
|
4,162
|
|
|
4,427
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Long-term
debt
|
|
|
2,772
|
|
|
2,793
|
|
|
2,813
|
|
|
Other
liabilities
|
|
|
1,218
|
|
|
1,192
|
|
|
1,253
|
|
|
Total
liabilities
|
|
|
8,753
|
|
|
8,147
|
|
|
8,493
|
|
|
Minority
interest in consolidated subsidiaries
|
|
|
93
|
|
|
151
|
|
|
145
|
|
|
Shareholders’
equity
|
|
|
7,328
|
|
|
6,872
|
|
|
6,372
|
|
|
Total
liabilities and shareholders’ equity
|
|
$
|
16,174
|
|
$
|
15,170
|
|
$
|
15,010
|
|
|
|
|
Three
Months Ended
June
30
|
|
Six
Months Ended
June
30
|
|
||||||||
|
|
|
2006
|
|
2005
|
|
2006
|
|
2005
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
||||
|
Capital
expenditures:
|
|
|
|
|
|
|
|
|
|
||||
|
Energy
Services Group
|
|
$
|
200
|
|
$
|
129
|
|
$
|
337
|
|
$
|
260
|
|
|
KBR
|
|
|
20
|
|
|
18
|
|
|
42
|
|
|
29
|
|
|
General
corporate
|
|
|
1
|
|
|
-
|
|
|
2
|
|
|
-
|
|
|
Total
capital expenditures
|
|
$
|
221
|
|
$
|
147
|
|
$
|
381
|
|
$
|
289
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation,
depletion, and amortization:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Energy
Services Group
|
|
$
|
117
|
|
$
|
112
|
|
$
|
234
|
|
$
|
222
|
|
|
KBR
|
|
|
12
|
|
|
15
|
|
|
23
|
|
|
30
|
|
|
Total
depreciation, depletion, and amortization
|
|
$
|
129
|
|
$
|
127
|
|
$
|
257
|
|
$
|
252
|
|
|
|
|
Three
Months Ended
June
30
|
|
Three
Months
Ended
March
31
|
|
|||||
|
|
|
2006
|
|
2005
|
|
2006
|
|
|||
|
Revenue:
|
|
|
|
|
|
|
|
|||
|
North
America
|
|
$
|
1,541
|
|
$
|
1,137
|
|
$
|
1,513
|
|
|
Latin
America
|
|
|
355
|
|
|
333
|
|
|
351
|
|
|
Europe/Africa/CIS
|
|
|
674
|
|
|
565
|
|
|
595
|
|
|
Middle
East/Asia
|
|
|
546
|
|
|
436
|
|
|
479
|
|
|
Total
revenue
|
|
$
|
3,116
|
|
$
|
2,471
|
|
$
|
2,938
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
income:
|
|
|
|
|
|
|
|
|
|
|
|
North
America
|
|
$
|
470
|
|
$
|
289
|
|
$
|
480
|
|
|
Latin
America
|
|
|
65
|
|
|
39
|
|
|
53
|
|
|
Europe/Africa/CIS
|
|
|
125
|
|
|
105
|
|
|
93
|
|
|
Middle
East/Asia
|
|
|
131
|
|
|
89
|
|
|
101
|
|
|
Total
operating income
|
|
$
|
791
|
|
$
|
522
|
|
$
|
727
|
|
|
|
|
Six
Months Ended June 30
|
|
||||
|
|
|
2006
|
|
2005
|
|
||
|
Revenue:
|
|
|
|
|
|
||
|
North
America
|
|
$
|
3,054
|
|
$
|
2,196
|
|
|
Latin
America
|
|
|
706
|
|
|
647
|
|
|
Europe/Africa/CIS
|
|
|
1,269
|
|
|
1,028
|
|
|
Middle
East/Asia
|
|
|
1,025
|
|
|
784
|
|
|
Total
revenue
|
|
$
|
6,054
|
|
$
|
4,655
|
|
|
|
|
|
|
|
|
|
|
|
Operating
income:
|
|
|
|
|
|
|
|
|
North
America
|
|
$
|
950
|
|
$
|
642
|
|
|
Latin
America
|
|
|
118
|
|
|
85
|
|
|
Europe/Africa/CIS
|
|
|
218
|
|
|
167
|
|
|
Middle
East/Asia
|
|
|
232
|
|
|
141
|
|
|
Total
operating income
|
|
$
|
1,518
|
|
$
|
1,035
|
|
|
|
|
June
30,
2006
|
|
March
31,
2006
|
|
December
31,
2005
|
|
|||
|
Firm
orders:
|
|
|
|
|
|
|
|
|||
|
Government
& Infrastructure
|
|
$
|
5,322
|
(a)
|
$
|
3,418
|
|
$
|
3,376
|
|
|
Energy
& Chemicals - Gas Monetization
|
|
|
3,478
|
|
|
3,451
|
|
|
3,651
|
|
|
Energy
& Chemicals - Other
|
|
|
1,909
|
(b)
|
|
1,978
|
|
|
1,786
|
|
|
Energy
Services Group segments
|
|
|
1
|
|
|
133
|
|
|
180
|
|
|
Total
firm orders
|
|
$
|
10,710
|
|
$
|
8,980
|
|
$
|
8,993
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Government
orders firm but not yet funded, letters of intent, and contracts
awarded
but not signed:
|
|
|
|
|
|
|
|
|
|
|
|
Government
& Infrastructure
|
|
$
|
345
|
|
$
|
474
|
|
$
|
1,775
|
|
|
Total
backlog
|
|
$
|
11,055
|
|
$
|
9,454
|
|
$
|
10,768
|
|
|
|
(a)
|
The
$5.3 billion of firm orders in the Government & Infrastructure segment
as of June 30, 2006 includes $445 million for Task Order 89 and
$2.1
billion for the recently awarded Allenby and Connaught
project.
|
|
|
(b)
|
The
amounts presented represent backlog for continuing operations
and do not
include backlog associated with KBR’s Production Services operations,
which were sold and are accounted for as discontinued operations.
Backlog
for the Production Services operations was $1.1 billion as of
March 31,
2006 and $1.2 billion as of December 31,
2005.
|
|
|
|
Three
Months Ended
|
|
||||
|
|
|
June
30, 2006
|
|
June
30, 2005
|
|
||
|
Stock-based
compensation expense, pretax:
|
|
|
|
|
|
||
|
Stock
options and employee stock purchase plans (a)
|
|
$
|
10
|
|
$
|
-
(b
|
)
|
|
Restricted
stock
|
|
|
7
|
|
|
6
|
|
|
Employee
separation
|
|
|
2
|
|
|
1
|
|
|
Total
stock-based compensation expense
|
|
$
|
19
|
|
$
|
7
|
|
|
|
(a)
|
Incremental
expense incurred related to the adoption of FAS 123(R) effective
January
1, 2006.
|
|
|
(b)
|
Had
the provisions of FAS 123(R) been adopted during this period,
approximately $8 million of expense would have been
recorded.
|
|
|
|
Six
Months Ended
|
|
||||
|
|
|
June
30, 2006
|
|
June
30, 2005
|
|
||
|
Stock-based
compensation expense, pretax:
|
|
|
|
|
|
||
|
Stock
options and employee stock purchase plans (a)
|
|
$
|
20
|
|
$
|
-
(b
|
)
|
|
Restricted
stock
|
|
|
15
|
|
|
11
|
|
|
Employee
separation
|
|
|
8
|
|
|
13
|
|
|
Total
stock-based compensation expense
|
|
$
|
43
|
|
$
|
24
|
|
|
|
(a)
|
Incremental
expense incurred related to the adoption of FAS 123(R) effective
January
1, 2006.
|
|
|
(b)
|
Had
the provisions of FAS 123(R) been adopted during this period,
approximately $14 million of expense would have been
recorded.
|
|
|
|
Three
Months Ended
June
30, 2006
|
|
Three
Months Ended
June
30, 2005
|
|
Three
Months Ended
March
31, 2006
|
|
||||||||||||
|
|
|
Operating
Income
|
|
After
Tax per Share
|
|
Operating
Income
|
|
After
Tax per Share
|
|
Operating
Income
|
|
After
Tax per Share
|
|
||||||
|
Government
and Infrastructure:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
Railroad
impairment charge
|
|
$
|
-
|
|
$
|
-
|
|
$
|
-
|
|
$
|
-
|
|
$
|
(30
|
)
|
$
|
(0.03
|
)
|
|
Energy
and Chemicals:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Escravos
GTL project Loss (a)
|
|
|
(148
|
)
|
|
(0.04
|
)
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
Barracuda-Caratinga
project loss
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
(15
|
)
|
|
(0.01
|
)
|
|
|
|
Six
Months Ended
June
30, 2006
|
|
Six
Months Ended
June
30, 2005
|
|
||||||||
|
|
|
Operating
Income
|
|
After
Tax per Share
|
|
Operating
Income
|
|
After
Tax per Share
|
|
||||
|
Production
Optimization:
|
|
|
|
|
|
|
|
|
|
||||
|
Subsea
7, Inc. gain on sale
|
|
$
|
-
|
|
$
|
-
|
|
$
|
110
|
|
$
|
0.08
|
|
|
Government
and Infrastructure:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Railroad
impairment charge
|
|
|
(30
|
)
|
|
(0.03
|
)
|
|
-
|
|
|
-
|
|
|
Energy
and Chemicals:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Escravos
GTL project loss (a)
|
|
|
(148
|
)
|
|
(0.04
|
)
|
|
-
|
|
|
-
|
|
|
Barracuda-Caratinga
project loss
|
|
|
(15
|
)
|
|
(0.01
|
)
|
|
-
|
|
|
-
|
|
|
(a)
|
Halliburton
consolidates the Escravos project; therefore the $148 million
charge to
operating income reflects the entire impact on the project, not
just
Halliburton’s 50% share. The 50% portion of the charge that is borne by
the other owner of the project is reflected, on an after-tax
basis as
minority interest.
|
|
|
|
Six
Months Ended
June
30, 2006
|
|
Six
Months Ended
June
30, 2005
|
|
||||||||
|
|
|
Operating
Income
|
|
After
Tax per Share
|
|
Operating
Income
|
|
After
Tax per Share
|
|
||||
|
North
America:
|
|
|
|
|
|
|
|
|
|
||||
|
Subsea
7, Inc. gain on sale
|
|
$
|
-
|
|
$
|
-
|
|
$
|
107
|
|
$
|
0.08
|
|
|
Europe/Africa/CIS:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Subsea
7, Inc. gain on sale
|
|
|
-
|
|
|
-
|
|
|
3
|
|
|
-
|
|
|
HALLIBURTON
COMPANY
|
||
|
Date:
July 25, 2006
|
By:
|
/s/ Bruce A. Metzinger |
|
Bruce
A. Metzinger
|
||
|
Assistant
Secretary
|