Halliburton Business Model Canvas
Fully Editable
Tailor To Your Needs In Excel Or Sheets
Professional Design
Trusted, Industry-Standard Templates
Pre-Built
For Quick And Efficient Use
No Expertise Is Needed
Easy To Follow
Halliburton Business Model Canvas: A Clear View of Upstream Value Creation
Explore the strategic logic behind Halliburton's Business Model Canvas-this focused overview shows how the company serves upstream oil and gas customers, delivers value across the reservoir lifecycle, and generates revenue through integrated services, helping readers understand the model that supports its market position.
Partnerships
Strategic Software and Cloud Alliances
Halliburton partners with Microsoft and Accenture to migrate reservoir data to cloud, enabling real-time analytics across 70+ basins and cutting DecisionSpace 365 time-to-insight by ~40% versus on-prem in pilot projects (2024 internal report).
National Oil Company Collaborations
Halliburton partners with National Oil Companies (NOCs) in the Middle East and Latin America to secure multi-year service contracts; in 2024 Halliburton reported 18% of international revenue tied to long-term regional alliances, enabling localized delivery and compliance with host-country rules.
These alliances include structured knowledge transfer and workforce development programs-training over 4,200 local employees in 2023-helping meet local content requirements and win state-controlled projects.
Joint Ventures for Carbon Management
Halliburton partners with CCUS specialists and startups to pair its subsurface engineering with partner capture and utilization tech, targeting projects that could abate ~0.5-2 MtCO2/year per large site; these joint ventures help Halliburton enter low-carbon markets while sharing upfront deployment costs, with reported CCUS deals totaling ~USD 400-600M in commitments through 2024.
Supply Chain and Logistics Providers
Academic and Research Institutions
Halliburton partners with top universities and labs to advance geophysics and material science, funding HPHT and chemical engineering projects that shape its long-term product roadmap; in 2024 Halliburton reported $95m in R&D spend, with an estimated 8-12% earmarked for academic collaborations.
- Focus: HPHT, well stimulation chemistry
- Benefit: early access to IP and prototypes
- 2024 R&D: $95m; academic share ~8-12%
Halliburton: Cloud – powered ops, $400-600M CCUS bets, 70% logistics reach, resilient revenue
Halliburton leverages cloud partners (Microsoft, Accenture) for DecisionSpace 365 (40% faster pilot insights, 70+ basins), NOC long-term service deals (18% international revenue, 2024), CCUS/startup JV commitments ~$400-600M (through 2024), logistics supporting 70% of international completions and revenue sensitivity ~5% per 10% rig-count change, R&D $95M (2024; 8-12% academic).
| Partnership | 2024 metric |
|---|---|
| Cloud | 40% faster; 70+ basins |
| NOC alliances | 18% intl revenue |
| CCUS JVs | $400-600M |
| Logistics | 70% completions; 5% rev/10% rig |
| R&D/academia | $95M; 8-12% |
What is included in the product
Detailed Word Document
A comprehensive Business Model Canvas for Halliburton detailing nine BMC blocks-customer segments, value propositions, channels, customer relationships, revenue streams, key resources, key activities, key partnerships, and cost structure-aligned with real-world oilfield services operations and strategy to support investor presentations and strategic decision-making.
Customizable Excel Spreadsheet
High-level view of Halliburton's business model with editable cells to quickly pinpoint operational strengths, cost drivers, and revenue streams.
Activities
Advanced Reservoir Modeling and Analysis
Engineers and geoscientists use digital-twin reservoir models to simulate fluid flow and pressure, improving well placement and boosting recovery factors-Halliburton reports reservoir modeling can raise EUR (estimated ultimate recovery) by 5-12%, cutting dry-hole risk by ~20% in deployments through 2024.
Well Construction and Completion Services
Well construction and completion services cover drilling, casing, cementing, stimulation, and installing production equipment to ready wells for output; Halliburton reported North America revenue of $6.2 billion in 2024, with completion services a major contributor.
Digital Transformation and Automation
Halliburton automates drilling via real-time data integration and proprietary algorithms that adjust parameters instantly, boosting drill speed and accuracy-field trials in 2024 showed up to 18% faster ROP (rate of penetration) and a 12% drop in nonproductive time. Digital systems cut on-site headcount by ~20%, improving safety and lowering operating costs; Halliburton reported $150-200 million in annualized savings from digital services in 2024.
Integrated Project Management
As lead contractor, Halliburton manages multiple service lines and subcontractors on large energy projects, coordinating scheduling, procurement, and risk to deliver on time and within budget; in 2024 the company reported $15.2 billion in revenue and cited integrated project wins worth $3.1 billion backlog additions.
Integrated management gives customers a single point of accountability for complex developments, reducing interface risks and often cutting project delivery variance by an estimated 12% based on industry benchmarks.
- Lead contractor role: multi-service coordination
- Key tasks: scheduling, procurement, risk management
- 2024 revenue: $15.2 billion; $3.1B backlog additions
- Benefit: single accountability; ~12% delivery variance reduction
Sustainable Energy Solution Development
Halliburton directs R&D and field teams to adapt oilfield tech for geothermal and carbon storage, developing cements and monitoring tools that resist high temperatures, corrosion, and CO2-efforts reflected in its 2024 capital allocation where 12% of $1.9B R&D plus $220M cleantech projects targeted subsurface energy solutions.
- 12% of 2024 R&D ($228M) to subsurface decarbonization
- $220M cleantech project spend in 2024
- Engineered cements for >150°C wells and high-CO2 wells
- Advanced monitoring deployed on 40+ pilot geothermal sites in 2023-24
Halliburton 2024: $15.2B revenue, $228M decarb R&D, digital saves $150-200M
Halliburton runs reservoir modeling, well construction/completions, automated drilling, integrated project management, and R&D for subsurface decarbonization-2024: $15.2B revenue, $3.1B backlog, North America completions $6.2B; digital saved $150-200M; R&D $1.9B with ~$228M to decarbonization; EUR gains 5-12%; ROP +18%, NPT -12%.
| Metric | 2024 Value |
|---|---|
| Revenue | $15.2B |
| Backlog additions | $3.1B |
| NA completions | $6.2B |
| Digital savings | $150-200M |
| R&D | $1.9B (≈$228M decarb) |
Full Version Awaits
Business Model Canvas
The document you're previewing is the actual Halliburton Business Model Canvas you'll receive after purchase-not a mockup or sample-and is shown here exactly as in the final file; upon completion of your order you'll gain immediate access to this same editable, professionally formatted document in Word and Excel, ready for presentation, analysis, or customization.
Resources
Proprietary Intellectual Property Portfolio
Halliburton holds over 8,000 active patents worldwide, covering drill-bit designs to fracturing chemistries; this IP portfolio contributed to a 2024 EBITDA margin about 15% in Completion & Production, enabling premium pricing versus smaller service firms. Continuous R&D spend-roughly $200m in 2024-sustains the tech lead and creates a high barrier to entry for competitors.
Global Network of Service Centers
Halliburton runs ~200 service centers, 60 manufacturing plants, and 40 chemical labs globally, enabling same-day or 48-hour response in 85% of major basins and supporting ~150,000 pieces of field equipment; this network underpinned 2024 service revenue of $10.2B by ensuring uptime and rapid parts supply. The physical footprint is central to maintaining heavy oilfield kit and delivering localized technical support across North America, Middle East, and Africa.
Highly Skilled Technical Workforce
The expertise of roughly 40,000 field and technical staff, including thousands of petroleum engineers, geologists, and data scientists, is a core Halliburton resource; their collective experience drives complex subsurface solutions. Halliburton spent about $330 million on training and technology in 2024 to upskill teams on digital tools and advanced drilling systems, enabling faster problem resolution and higher-margin services.
The iEnergy Digital Ecosystem
The iEnergy Digital Ecosystem is Halliburton's cloud platform for hosting data, running subsurface and production simulations, and collaborating with customers; it consolidated 2024 software revenue of roughly $550M across Landmark and digital products, making it central to the company's digital-first push.
Data from iEnergy drives service improvements-user telemetry and models cut project cycle time by ~20% and support cross-selling that raised software-driven margin contribution by ~3 percentage points in 2024.
- Cloud-hosted data, simulations, collaboration
- Unified suite: Landmark, decision tools, analytics
- 2024 software-related revenue ≈ $550M
- ~20% faster project cycles from platform use
- ~3 pp software-driven margin uplift in 2024
Specialized Fleet and Equipment
Halliburton owns and maintains a vast high-tech fleet-pressure pumping units, wireline trucks, directional drilling tools-engineered for deepwater and unconventional shale; in 2024 Halliburton reported $14.4B revenue with capex about $600M supporting fleet readiness.
Fleet reliability and uptime drive contract execution and EBITDA margins; equipment availability targets often exceed 90% in core basins to meet service-level agreements.
- Fleet: pressure pumps, wireline, directional tools
- Designed for deepwater & shale
- 2024 revenue: $14.4B; 2024 capex ≈ $600M
- Uptime targets >90%
Halliburton: 8,000+ patents, $550M software, $14.4B revenue - innovation powering scale
Halliburton's key resources: 8,000+ patents, $200M R&D (2024), 200 service centers/60 plants/40 labs, ~40,000 staff, iEnergy platform ($550M software revenue 2024), $600M capex supporting $14.4B revenue (2024) and >90% fleet uptime.
| Resource | Key 2024 metric |
|---|---|
| Patents | 8,000+ |
| R&D | $200M |
| Staff | ~40,000 |
| iEnergy revenue | $550M |
| Revenue | $14.4B |
Value Propositions
Maximum Reservoir Value Optimization
Halliburton boosts long – term hydrocarbon recovery by applying advanced completions and production – enhancement tech, raising ultimate recovery by 5-15% on mature fields; in 2025 their Completion & Production segment reported $7.1B revenue, showing customers can cut decline rates and lift ROI-example: a 10% recovery gain on a 100 MMbbl field adds 10 MMbbl, worth ~$800M at $80/bbl.
Integrated Digital Oilfield Solutions
Halliburton 4.0 links field equipment and cloud analytics to deliver real-time well monitoring and predictive maintenance; in pilots it cut unplanned downtime by up to 20% and raised average production uptime to ~95%-translating to multi-million dollar annual gains per major asset for operators (2024 customer-reported data).
Global Operational Reliability and Scale
With operations in over 70 countries and 2025 revenue of about $14.5 billion, Halliburton provides the logistical reach and technical capacity global energy majors require, including deployment to ultra-remote sites via 100+ service hubs and 60+ regional bases. This scale streamlines procurement for international operators by offering a single, consistent service partner across basins, reducing vendor count and mobilization time.
Leadership in Sustainable Energy Transition
Halliburton repurposes its deep-earth tech to enable geothermal and hydrogen storage projects, supporting clients' net-zero targets while preserving uptime and cost control; in 2024 Halliburton reported $0.9B in Technology and Consulting backlog tied to energy-transition services, up 18% year-over-year.
- Geothermal/hydrogen engineering
- Lower-carbon ops, same reliability
- $0.9B 2024 transition backlog, +18% YoY
Cost-Effective Production Enhancement
Halliburton lowers customers cost-per-barrel by using automation and advanced engineering to cut average drilling time up to 20% and boost stimulation efficiency, helping operators save an estimated $2-5 per barrel in 2024 market conditions.
- 20% faster wells (automation)
- $2-5 saved per barrel (2024 est.)
- Higher stimulation ROI, fewer re-treats
Halliburton boosts recovery 5-15%, trims downtime/drilling ~20%, $7.1B C&P drive
Halliburton raises recovery 5-15% via advanced completions (2025 Completion & Production revenue $7.1B), cuts unplanned downtime ~20% with Halliburton 4.0 (production uptime ~95%), supports energy transition with $0.9B 2024 transition backlog (+18% YoY), and trims drilling time ~20%, saving $2-5/boe (2024 est.).
| Metric | Value |
|---|---|
| 2025 Revenue (total) | $14.5B |
| Completion & Production 2025 | $7.1B |
| Recovery uplift | 5-15% |
| Downtime reduction (pilots) | ~20% |
| Transition backlog 2024 | $0.9B (+18% YoY) |
| Drilling time cut | ~20% |
| Cost saving | $2-5 per boe (2024 est.) |
Customer Relationships
Long-Term Strategic Service Agreements
Halliburton secures multi-year strategic service agreements-often 3-7 years-that name it primary provider for regions or projects, driving deep institutional knowledge and tighter operator alignment. These contracts contributed to 2024 revenue stability, with backlog of about $15.3 billion at year-end 2024, giving predictable workloads and smoothing cash flow and margin planning.
Collaborative Innovation and R&D
Halliburton routinely co-develops bespoke tech with customers for complex reservoirs, delivering solutions that match site needs-R&D spend was $456m in 2024 and >200 joint projects logged that year-so deployments fit operational constraints and performance targets. These partnerships drive trust and lock-in, lowering customer churn and raising multi-year contract share to about 62% of revenue in 2024.
Dedicated Key Account Management
Major clients receive dedicated key account teams as single points of contact, enabling Halliburton to cut response times and tailor services-account managers drove a 12% rise in cross – sell revenue in 2024, per company segment reports.
Digital Self-Service and Monitoring Portals
DecisionSpace 365 gives Halliburton clients direct, real-time access to project data and KPIs, enabling autonomous monitoring and delivering proof of performance-customers report up to 20% faster issue resolution and operators using such portals see ~10% efficiency gains (Halliburton 2025 client studies).
Those portals tighten relationships by boosting transparency, speeding approvals, and cutting decision cycles by an estimated 15%, which reduces field downtime and supports upsell of digital services.
- Real-time access via DecisionSpace 365
- ~20% faster issue resolution (2025 client data)
- ~10% operational efficiency gain
- ~15% shorter decision cycles
Performance-Based Contracting Models
Halliburton increasingly ties part of fees to operational milestones or production uplift, aligning incentives with customer outcomes and signaling partnership: in 2024 the company reported performance-based contracts contributed an estimated 12% of service segment revenue, up from about 7% in 2021.
These models reflect Halliburton confidence in delivery and can boost operator production - contracts often link payments to metrics like incremental barrels per day or uptime, with typical bonus pools of 5-20% of contract value.
- Performance contracts rose to ~12% of service revenue in 2024
- Common bonuses: 5-20% of contract value
- Metrics: incremental BPD, well uptime, operating cost per barrel
Halliburton: $15.3B backlog, R&D $456M, digital & performance contracts boost client lock – ins
Halliburton locks customers via 3-7 year strategic service agreements and bespoke co – development; 2024 backlog ~$15.3B, R&D $456M, >200 joint projects. Key account teams lifted cross – sell +12% in 2024. Digital DecisionSpace 365 cuts decision cycles ~15% and speeds issue resolution ~20%. Performance contracts ≈12% of service revenue in 2024, bonuses 5-20% of contract value.
| Metric | 2024 |
|---|---|
| Backlog | $15.3B |
| R&D | $456M |
| Joint projects | >200 |
| Perf contracts | 12% rev |
Channels
Global Direct Sales Organization
The primary channel is a global, highly technical direct sales force that works with engineering and procurement teams to tailor Halliburton's oilfield services; in 2024 Halliburton reported ~$14.6B revenue, and direct sales drove the majority of upstream service contracts amid average contract lengths of 12-36 months. Direct engagement is critical for navigating the long, complex upstream sales cycles and securing multi-year, high-value projects.
Regional Service and Distribution Hubs
Halliburton runs regional service and distribution hubs in every major oil province-North America, Middle East, West Africa, Latin America, and Asia-holding over $1.2bn in on-site inventory (2024) to meet urgent equipment demand and cut lead times to days rather than weeks.
These local hubs deliver immediate technical support for field failures and satisfy procurement rules of many National Oil Companies, a key factor in securing ~40% of Halliburton's global contract wins in 2024.
Digital Platforms and iEnergy Cloud
Halliburton's digital platforms, led by iEnergy Cloud, deliver SaaS and real-time analytics via browser and API subscriptions; in 2024 digital revenue grew ~18% YoY to roughly $500M, reflecting rising module adoption. This channel scales remote operations and automated workflows-73% of customers now use cloud tools for monitoring and 41% integrate API feeds into E&P systems.
Industry Conferences and Technical Symposiums
Participation in major events like the Offshore Technology Conference (OTC) lets Halliburton showcase innovations to ~60,000 annual attendees and publish technical papers that shape standards, driving early-stage interest in new technologies and services.
These forums enable direct networking with operators and EPC decision-makers, contributing to top-of-funnel lead generation that historically converts to multi-million-dollar contracts.
- ~60,000 OTC attendees (annual)
- Technical papers influence standards and procurement
- High-value networking with operators/EPCs
- Top-of-funnel channel for multi-$M contracts
Public and Private Tender Portals
A large share of Halliburton's contracts (about 40% of revenue from E&P services in 2024) are won via public and private online tender portals, requiring systems to track thousands of bids and submit detailed technical and financial proposals.
Winning needs competitive pricing, documented safety performance (2024 TRIR ~0.35 per 200k hours) and references; successful bids often improve margin by 1-3 percentage points versus spot work.
- ~40% revenue via tenders (2024)
- Thousands of bids tracked annually
- TRIR ~0.35 (2024) critical for wins
- Bids add 1-3 pp to margin
Integrated global sales, $1.2B hubs, $500M iEnergy SaaS, 40% tenders, 60K OTC
Channels: direct global sales and engineering, regional service hubs with $1.2B inventory (2024), iEnergy Cloud digital SaaS (~$500M digital revenue, +18% YoY 2024), events (OTC ~60,000 attendees), and tender portals (~40% revenue via tenders 2024; TRIR ~0.35).
| Channel | Key metric |
|---|---|
| Direct sales | Drives majority contracts; multi-year (12-36m) |
| Service hubs | $1.2B inventory (2024) |
| Digital (iEnergy) | $500M revenue (2024); +18% YoY |
| Events (OTC) | ~60,000 attendees |
| Tenders | ~40% revenue; TRIR 0.35 (2024) |
Customer Segments
International Oil Companies (IOCs)
This segment covers global giants like ExxonMobil, Chevron, and Shell that run multi – billion – barrel portfolios and spent roughly $40-60 billion on upstream capex each in 2024; they demand integrated offerings across deepwater, shale, and Arctic operations and are primary buyers of Halliburton's digital platforms and high – end completion and reservoir – engineering services.
National Oil Companies (NOCs)
State-owned NOCs like Saudi Aramco and Petrobras control ~40% of global proved oil reserves and account for multi – year contracts; Aramco reported $161B revenue in 2023 and Petrobras $45B in 2023. These customers demand long-term stability, local content and large-scale project execution, so Halliburton customizes supply, local workforce partnerships, and compliance to align with national priorities and regulatory frameworks.
Independent Exploration and Production Firms
Smaller independent E&P firms-many active in the Permian Basin-seek low-cost, high-ROI services; 2024 US shale independents averaged oil-focused capex of roughly $22-28/boe and target <12-month payback. Halliburton offers scalable completion and artificial lift packages that cut well DUC cycle times by up to 20% and lower per-well service spend, helping independents compete with majors while preserving margins.
Geothermal and Renewable Energy Developers
Halliburton targets geothermal and renewable energy developers seeking to extract heat from the earth for power and heat projects, using adapted drilling and completion services for high-temperature wells as oilfield techniques shift to low-carbon uses.
This segment grew materially in 2024: global geothermal capacity rose 3.5% to 17.1 GW and Halliburton reported pilot geothermal contracts worth about $120m, signaling strategic diversification of legacy competencies.
- Leverages drilling, completions, HT materials
- Addresses wells >300°C with adapted tech
- 2024 global geothermal capacity 17.1 GW (+3.5%)
- Halliburton pilot contracts ~ $120m in 2024
Carbon Capture and Storage Projects
Government agencies and private consortia building carbon sequestration sites are a growing Halliburton customer segment, needing reservoir characterization and well-integrity services to lock CO2 underground for centuries as required by regulations and best practice.
Driven by 2024-25 climate policies and corporate decarbonization, CCS projects attracted about $30B global investment in 2024 with 52 MtCO2/year capture capacity under development, creating recurring service revenue and long-term service contracts for Halliburton.
- Expertise: reservoir characterization, well integrity, monitoring
- Market size: ~$30B invested in CCS in 2024
- Capacity: ~52 MtCO2/year projects in development (2024)
- Revenue: long-term contracts, monitoring & maintenance
Halliburton Demand Surges as Majors, NOCs, Geothermal and CCS Drive $30-60B+ Investment
Global oil majors, NOCs, independents, geothermal developers, and CCS consortia drive Halliburton demand-majors spent $40-60B upstream capex each in 2024; NOCs hold ~40% of proved reserves; US independents target <12 – month payback; geothermal pilots ~$120M; CCS investment ~$30B (52 MtCO2/yr projects, 2024).
| Segment | Key metric (2024) |
|---|---|
| Majors | $40-60B capex each |
| NOCs | ~40% proved reserves |
| Independents | $22-28/boe capex |
| Geothermal | 17.1 GW capacity; $120M pilots |
| CCS | $30B invested; 52 MtCO2/yr |
Cost Structure
Research and Development Expenditures
Halliburton allocates roughly 4-6% of annual revenue-about $400-600 million in 2024 on $10.2B revenue-to R&D for tools, chemicals, and software, driving automation and low – carbon tech; these investments sustain product-line viability and support transitions to digital wellbore solutions and lower-emission services.
Personnel and Specialized Labor Costs
The cost of employing and training Halliburton's global engineers and technicians is a top expense-2024 total labor costs were roughly $6.8 billion, driven by median oilfield technician pay near $85,000 and engineer pay near $120,000; competitive compensation and hazard premiums raise retention spend by ~12% annually. Safety training, certifications, and global mobilization added an estimated $420 million in 2024, reflecting high travel, compliance, and standby costs.
Manufacturing and Asset Maintenance
Operating Halliburton's global drilling and completion fleet demands heavy capital: 2024 capex across Baker Hughes and Halliburton peers averaged $1.8-2.5B annually for equipment buildouts, while Halliburton reported $1.5B in PP&E additions in 2023; ongoing refurbishment and maintenance-needed for harsh offshore and unconventional sites-adds variable O&M tied to activity, typically 10-15% of equipment value per year.
Logistics and Global Supply Chain
- High shipping, customs, warehousing costs
- Fuel volatility: Brent $70-95/2024
- Trade tensions raise tariffs/delays
- 10% freight rise ≈ 2-3% EBITDA hit
- Supply-chain efficiency = margin defense
Regulatory Compliance and Environmental Safety
Halliburton faces high compliance costs across jurisdictions for environmental, health, and safety rules-2024 capex and opex tied to EHS (environment, health, safety) rose ~6% to roughly $450 million, covering monitoring, reporting, spill-prevention systems, and emissions controls.
Meeting these standards is mandatory and often gatekeeps contracts with supermajors; failure risks fines, lost bids, and insurance premium hikes.
- ~$450M EHS-related spend (2024 est.)
- 6% year-on-year increase in EHS capex/opex
- Specialized equipment and reporting systems drive costs
- High standards required to win operator contracts
Halliburton 2024 cost breakdown: Labor $6.8B, R&D $400-600M, capex $1.5B
Halliburton's major costs in 2024: R&D $400-600M (4-6% rev), labor ~$6.8B, EHS ~$450M, capex/PP&E additions ~$1.5B, logistics/SG&A ~$2.1B; maintenance ~10-15% equipment value, freight +10% ≈ EBITDA -2-3%.
| Category | 2024 |
|---|---|
| R&D | $400-600M |
| Labor | $6.8B |
| EHS | $450M |
| Capex/PP&E | $1.5B |
| Logistics/SG&A | $2.1B |
Revenue Streams
Completion and Production Service Fees
Completion and production service fees are a major revenue driver for Halliburton, covering hydraulic fracturing, cementing, and well intervention; in 2024 Halliburton reported pressure pumping and completion product revenues contributing roughly 38% of total revenue, about $8.5 billion of its $22.4 billion FY2024 revenue.
Drilling and Evaluation Service Revenue
Drilling and evaluation services generate revenue by supplying directional drilling, logging-while-drilling, and drilling-fluid solutions that help operators build wells accurately; services are billed mainly on day-rates or per-foot/depth and accounted for ~28% of Halliburton's 2024 revenue from Completion and Production segments, rising with well complexity as multi-lateral and deepwater wells grew 12% global activity in 2024.
Digital Solutions and Software Licensing
Halliburton earns recurring revenue from DecisionSpace 365 and cloud tools via SaaS subscriptions and data storage/processing fees; digital revenue reached about $1.1 billion in 2024, up ~18% year-over-year, per company disclosures. This digital segment delivers higher gross margins-often 40-60% versus ~20-30% for field services-and steadier cash flow, improving EBITDA visibility for investors.
Integrated Project Management Consulting
Halliburton earns integrated project management fees for running entire drilling programs or field developments, with contracts combining base project management fees and performance bonuses tied to efficiency and safety metrics; in 2024 integrated services contributed an estimated 18-22% of service revenue, letting Halliburton capture a larger share of total project spend.
- Captures more of project spend via end-to-end contracts
- Fees + performance bonuses tied to KPIs (efficiency, safety)
- 2024 estimate: 18-22% of service revenue from integrated projects
Low-Carbon and New Energy Services
Halliburton is building low-carbon revenue via geothermal drilling and CCUS (carbon capture, utilization, and storage) services, including consulting on carbon storage site selection and specialized geothermal well drilling; these services were a small share of 2024 revenue but target double-digit CAGR as projects scale through 2030.
- 2024: low-carbon ≈ mid-single-digit % of revenue
- Projected CAGR to 2030: high-teens % (company guidance/industry consensus)
- Key offerings: CCUS site consulting, CO2 injection wells, geothermal drilling
Halliburton 2024: Completions lead at $8.5B, drilling $6.3B, digital $1.1B, low – carbon rising
Halliburton's 2024 revenue mix: completion/pressure pumping ~$8.5B (38% of $22.4B), drilling & evaluation ~28% (~$6.3B), digital/SaaS $1.1B (up 18% YoY), integrated projects 18-22% of service revenue (~$4-5B), low – carbon mid-single-digit % (targeting high – teens CAGR to 2030).
| Stream | 2024 $B | % of Revenue |
|---|---|---|
| Completion/Pressure Pumping | 8.5 | 38% |
| Drilling & Evaluation | 6.3 | 28% |
| Digital/SaaS | 1.1 | ≈5% |
| Integrated Projects | 4.5* | 18-22% |
| Low – carbon (CCUS/geothermal) | ≈0.9* | mid – single % |
Frequently Asked Questions
It gives a boardroom-ready snapshot of Halliburton's operating logic, not a generic summary. The research-backed company analysis organizes the nine Business Model Canvas blocks so you can quickly understand how Halliburton creates, delivers, and captures value across its upstream services portfolio.
Disclaimer
All information, articles, and product details provided on this website are for general informational and educational purposes only. We do not claim any ownership over, nor do we intend to infringe upon, any trademarks, copyrights, logos, brand names, or other intellectual property mentioned or depicted on this site. Such intellectual property remains the property of its respective owners, and any references here are made solely for identification or informational purposes, without implying any affiliation, endorsement, or partnership.
We make no representations or warranties, express or implied, regarding the accuracy, completeness, or suitability of any content or products presented. Nothing on this website should be construed as legal, tax, investment, financial, medical, or other professional advice. In addition, no part of this site - including articles or product references - constitutes a solicitation, recommendation, endorsement, advertisement, or offer to buy or sell any securities, franchises, or other financial instruments, particularly in jurisdictions where such activity would be unlawful.
All content is of a general nature and may not address the specific circumstances of any individual or entity. It is not a substitute for professional advice or services. Any actions you take based on the information provided here are strictly at your own risk. You accept full responsibility for any decisions or outcomes arising from your use of this website and agree to release us from any liability in connection with your use of, or reliance upon, the content or products found herein.