Open the filing on EDGARHALLIBURTON COMPANY HALLIBURTON COMPANY HALLIBURTON COMPANY HALLIBURTON COMPANY HALLIBURTON COMPANY HALLIBURTON COMPANY FOOTNOTE TABLE 1 FOOTNOTE TABLE 2 FOOTNOTE TABLE 3 FOOTNOTE TABLE 4 FOOTNOTE TABLE 5 Conference Call Details Condensed Consolidated Statements of Operations Condensed Consolidated Statements of Operations Condensed Consolidated Balance Sheets Condensed Consolidated Statements of Cash Flows Revenue and Operating Income Comparison Revenue and Operating Income Comparison Exhibit 99.1 Drilling and Evaluation Other Financial Items •Halliburton announced the acquisition of InformatiQ AS, a Norway‑based software (1)Adjusted net income per diluted share is a non-GAAP financial measure; please see definition of Adjusted Net Income Per Diluted Share in Footnote Table 3 and 4.(2)Adjusted operating margin is a non-GAAP financial measure; please see reconciliation of Operating Income to Adjusted Operating Income in Footnote Table 1 and 2.(3)Free cash flow is a non-GAAP financial measure; please see reconciliation of Cash Flows from Operating Activities to Free Cash Flow in Footnote Table 5.(4)Adjusted net income is a non-GAAP financial measure; please see reconciliation of Net Income to Adjusted Net Income in Footnote Table 3 and 4.(5)Adjusted operating income is a non-GAAP financial measure; please see reconciliation of Operating Income to Adjusted Operating Income in Footnote Table 1 and 2. Forward-looking Statements (Millions of dollars and shares except per share data) (Millions of dollars and shares except per share data) (Millions of dollars) (Millions of dollars) By Operating Segment and Geographic Region By Operating Segment and Geographic Region HALLIBURTON COMPANY HALLIBURTON COMPANY HALLIBURTON COMPANY HALLIBURTON COMPANY HALLIBURTON COMPANY company that develops cloud‑native applications for subsurface, drilling, well, and Halliburton Company (NYSE: HAL) will host a conference call on Tuesday, July 21, (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Millions of dollars) (Millions of dollars) Reconciliation of Operating Income to Adjusted Operating Income Reconciliation of Operating Income to Adjusted Operating Income Reconciliation of Net Income to Adjusted Net Income Reconciliation of Net Income to Adjusted Net Income Reconciliation of Cash Flows from Operating Activities to Free Cash Flow The statements in this press release that are not historical statements are forward-looking Drilling and Evaluation revenue in the second quarter of 2026 was $2.5 billion, an increase During the second quarter of 2026, Halliburton: logistics data. The acquisition converts a long‑standing collaboration into full Three Months EndedJune 30, March 31, 202620252026Revenue:Completion and Production$3,202$3,171$3,016Drilling and Evaluation2,5122,3392,386Total revenue$5,714$5,510$5,402Operating income:Completion and Production$474$513$439Drilling and Evaluation338312351Corporate and other(83)(66)(69)SAP S4 upgrade expense(46)(32)(42)Impairments and other credits (a)95 - - Total operating income778727679Interest expense, net(83)(92)(82)Other, net(31)(24)(28)Income before income taxes664611569Income tax provision (b)(126)(131)(105)Net income$538$480$464Net income attributable to noncontrolling interest(4)(8)(3)Net income attributable to company$534$472$461Basic and diluted net income per share$0.64$0.55$0.55Basic weighted average common shares outstanding836857837Diluted weighted average common shares outstanding838857839 Six Months EndedJune 30, 20262025Revenue:Completion and Production$6,218$6,291Drilling and Evaluation4,8984,636Total revenue$11,116$10,927Operating income:Completion and Production$913$1,044Drilling and Evaluation689664Corporate and other(152)(132)SAP S4 upgrade expense(88)(62)Impairments and other (charges) credits (a)95(356)Total operating income1,4571,158Interest expense, net(165)(178)Other, net(59)(63)Income before income taxes1,233917Income tax provision (b)(231)(234)Net income$1,002$683Net income attributable to noncontrolling interest(7)(7)Net income attributable to company$995$676Basic and diluted net income per share$1.19$0.78Basic weighted average common shares outstanding836862Diluted weighted average common shares outstanding838862 June 30, December 31,20262025AssetsCurrent assets: Cash and equivalents$2,048$2,206Receivables, net5,3254,942Inventories3,0562,976Other current assets1,4531,274Total current assets11,88211,398Property, plant, and equipment, net5,1735,261Goodwill3,0202,938Deferred income taxes2,3312,298Operating lease right-of-use assets1,019938Other assets2,4032,177Total assets$25,828$25,010Liabilities and Shareholders' EquityCurrent liabilities: Accounts payable$3,456$3,133Accrued employee compensation and benefits681767Current portion of operating lease liabilities287263Current maturities of long-term debt90 - Other current liabilities1,3731,425Total current liabilities5,8875,588Long-term debt7,0717,158Operating lease liabilities751712Employee compensation and benefits413428Other liabilities654619Total liabilities14,77614,505Company shareholders’ equity11,01010,461Noncontrolling interest in consolidated subsidiaries4244Total shareholders’ equity11,05210,505Total liabilities and shareholders’ equity$25,828$25,010 Six Months EndedThree Months EndedJune 30, June 30, 202620252026Cash flows from operating activities:Net income$1,002$683$538Adjustments to reconcile net income to cash flows from operating activities:Depreciation, depletion, and amortization591561296Working capital (a)(187)10065Impairments and other charges (credits)(95)356(95)Other operating activities(214)(427)20Total cash flows provided by operating activities1,0971,273824Cash flows from investing activities:Capital expenditures(427)(656)(235)Payments to acquire businesses(107)(162)(10)Purchases of equity investments(101)(345)(101)Purchases of investment securities(93)(115)(91)Proceeds from sales of property, plant, and equipment1218979Sales of investment securities496522Sale of an equity investment - 120 - Other investing activities(68)(36)(47)Total cash flows used in investing activities(626)(1,040)(383)Cash flows from financing activities:Stock repurchase program(308)(507)(208)Dividends to shareholders(285)(292)(143)Other financing activities(26)(12)(31)Total cash flows used in financing activities(619)(811)(382)Effect of exchange rate changes on cash(10)(2)(14)Increase (decrease) in cash and equivalents(158)(580)45Cash and equivalents at beginning of period2,2062,6182,003Cash and equivalents at end of period$2,048$2,038$2,048 (Unaudited) (Unaudited) (Millions of dollars) (Millions of dollars) (Millions of dollars and shares except per share data) (Millions of dollars and shares except per share data) (Millions of dollars) 2026, to discuss its second quarter 2026 financial results. The call will begin at 8:00 statements within the meaning of the federal securities laws. These statements are subject Three Months EndedJune 30, March 31, Revenue202620252026By operating segment:Completion and Production$3,202$3,171$3,016Drilling and Evaluation2,5122,3392,386Total revenue$5,714$5,510$5,402By geographic region:North America$2,276$2,259$2,136Latin America1,1239771,090Europe/Africa/CIS1,017820858Middle East/Asia1,2981,4541,318Total revenue$5,714$5,510$5,402Operating IncomeBy operating segment:Completion and Production$474$513$439Drilling and Evaluation338312351Total operations812825790Corporate and other(83)(66)(69)SAP S4 upgrade expense(46)(32)(42)Impairments and other credits95 - - Total operating income$778$727$679 Six Months EndedJune 30, Revenue20262025By operating segment:Completion and Production$6,218$6,291Drilling and Evaluation4,8984,636Total revenue$11,116$10,927By geographic region:North America$4,412$4,495Latin America2,2131,873Europe/Africa/CIS1,8751,595Middle East/Asia2,6162,964Total revenue$11,116$10,927Operating IncomeBy operating segment:Completion and Production$913$1,044Drilling and Evaluation689664Total operations1,6021,708Corporate and other(152)(132)SAP S4 upgrade expense(88)(62)Impairments and other (charges) credits95(356)Total operating income$1,457$1,158 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) of $126 million, or 5% sequentially, while operating income was $338 million, a decrease of ownership, strengthens Landmark’s Agile Asset Management offering, and extends a.m. CT (9:00 a.m. ET). Three Months EndedJune 30, March 31, 202620252026Operating income$778$727$679Impairments and other charges (credits):Gain on investments(64) - - Loss on sale of a business17 - - Other(48) - - Total impairments and other credits (a)(95) - - Adjusted operating income (b) (c)$683$727$679 Six Months EndedJune 30, 20262025Operating income$1,457$1,158Impairments and other charges (credits):Gain on investments(64) - Loss on sale of a business17 - Severance costs - 107Impairment of assets held for sale - 104Impairment of real estate facilities - 53Other(48)92Total impairments and other charges (credits) (a)(95)356Adjusted operating income (b) (c)$1,362$1,514 Three Months EndedJune 30, March 31, 202620252026Net income attributable to company$534$472$461Adjustments:Impairments and other credits (a)(95) - - Total adjustments, before taxes(95) - - Tax adjustment (b)22 - - Total adjustments, net of taxes (c)(73) - - Adjusted net income attributable to company (c)$461$472$461Diluted weighted average common shares outstanding838857839Net income per diluted share (d)$0.64$0.55$0.55Adjusted net income per diluted share (d)$0.55$0.55$0.55 Six Months EndedJune 30, 20262025Net income attributable to company$995$676Adjustments:Impairments and other charges (credits) (a)(95)356Total adjustments, before taxes(95)356Tax adjustment (b)22(43)Total adjustments, net of taxes (c)(73)313Adjusted net income attributable to company (c)$922$989Diluted weighted average common shares outstanding838862Net income per diluted share (d)$1.19$0.78Adjusted net income per diluted share (d)$1.10$1.15 Six Months EndedThree Months EndedJune 30, June 30, 202620252026Total cash flows provided by operating activities$1,097$1,273$824Capital expenditures(427)(656)(235)Proceeds from sales of property, plant, and equipment1218979Free cash flow (a)$791$706$668 to numerous risks and uncertainties, many of which are beyond the company's control, •Repurchased approximately $200 million of its common stock. $13 million, or 4% sequentially. Revenue improvements were primarily driven by increased its digital portfolio into new operational domains. which could cause actual results to differ materially from the results expressed or implied by drilling-related services and higher wireline activity in North America and Europe/Africa, and Please visit the Halliburton website to listen to the call via live webcast. A recorded HALLIBURTON ANNOUNCES SECOND QUARTER 2026 RESULTS the statements. These risks and uncertainties include, but are not limited to: changes in the •Paid dividends of $0.17 per share. increased drilling-related services in Asia. Partially offsetting these increases were lower •Halliburton was awarded lump sum turnkey contracts by Aramco for multiple onshore version will be available for seven days under the same link immediately following the demand for or price of oil and/or natural gas, including as a result of development of software sales globally, decreased project management activity in Latin America and lower fields in the Kingdom of Saudi Arabia. The awards expand Halliburton’s role in the conclusion of the conference call. You can also pre-register for the conference call and •Net income of $0.64 per diluted share. alternative energy sources, general economic conditions such as inflation and recession, the •Spent $46 million on SAP S4 migration. wireline activity in the Middle East. Operating income decreased due to the seasonal roll off program and demonstrate the Company’s ability to grow through integrated well obtain your dial in number and passcode by clicking here.
- Adjusted net income per diluted share of $0.55. ability of the OPEC+ countries to agree on and comply with production quotas, and other of software sales. delivery at scale. The multi-year contracts encompass approximately 285 planned
- Revenue of $5.7 billion and operating margin of 14%. causes; changes in capital spending by our customers; the modification, continuation or •Recognized a pre-tax credit of $95 million, related to “Impairments and other credits.” wells. Halliburton will deliver a fully integrated execution model that includes oil re- •Adjusted operating margin of 12%. suspension of our shareholder return framework, including the payment of dividends and Geographic Regions entry operations, drilling, completions, and workovers. The integrated approach •Cash flow from operations of $824 million and free cash flow of $668 million. (a)Free Cash Flow is a non-GAAP financial measure which is calculated as “Total cash flows provided by operating activities” less “Capital expenditures” plus “Proceeds from sales of property, plant, and equipment.” Management believes that Free Cash Flow is a key measure to assess liquidity of the business and is consistent with the disclosures of Halliburton's direct, large-cap competitors. purchases of our stock, which will be subject to the discretion of our Board of Directors and Selective Technology & Highlights supports maximum asset value through operational consistency and timely well •Approximately $200 million of share repurchases.
may depend on a variety of factors, including our results of operations and financial About Halliburton delivery and helps advance Aramco’s objectives to maintain efficiency in its onshore North America condition, growth plans, capital requirements and other conditions existing when any •Halliburton and Shape Digital entered a strategic collaboration to advance digital portfolio.
HOUSTON - July 21, 2026 - Halliburton Company (NYSE: HAL) announced today net Investor Relations Media Relations Halliburton is one of the world’s leading providers of products and services to the energy payment or purchase decision is made; potential catastrophic events related to our asset performance management through a unified asset view that connects North America revenue in the second quarter of 2026 was $2.3 billion, an increase of 7% income of $534 million, or $0.64 per diluted share, for the second quarter of 2026 and David Coleman Alexandra Franceschi industry. Founded in 1919, we create innovative technologies, products, and services that operations, and related indemnification and insurance; protection of intellectual property subsurface and surface intelligence. The collaboration extends trusted data, domain •Halliburton was awarded a multi-year contract from Aramco to deliver integrated sequentially. This increase was primarily driven by higher stimulation activity and increased adjusted net income, excluding “Impairments and other credits”, of $461 million, or $0.55 help our customers maximize their value throughout the life cycle of an asset and advance a Investors@Halliburton.com PR@Halliburton.com rights; cyber-attacks and data security; compliance with environmental laws; changes in (a)During the three months ended June 30, 2026, Halliburton recognized a pre-tax credit of $95 million primarily due to a $54 million gain resulting from changes in our ownership interest in an equity investment, and a $10 million gain from remeasuring an equity investment to fair value. Other credits of $48 million were primarily due to a government refund recovery. These gains were partially offset by a $17 million loss on the sale of a portion of our chemical business, which closed in April 2026.(b)Adjusted operating income is a non-GAAP financial measure which is calculated as: “Operating income” plus “Total impairments and other credits” for the respective periods. Management believes that operating income adjusted for impairments and other charges (credits) is useful to investors to assess and understand operating performance, especially when comparing those results with previous and subsequent periods or forecasting performance for future periods, primarily because management views the excluded items to be outside of the company's normal operating results. Management analyzes operating income without the impact of these items as an indicator of performance, to identify underlying trends in the business, and to establish operational goals. The adjustments remove the effect of these items.(c)We calculate operating margin by dividing operating income by revenue. We calculate adjusted operating margin, a non-GAAP financial measure, by dividing adjusted operating income by revenue. Management believes adjusted operating margin is useful to investors to assess and understand operating performance. science, operational expertise, and applied AI to support predictive, asset-level stimulation and completion services for unconventional gas development in the per diluted share. This compares to net income for the first quarter of 2026 of $461 million, well construction activity in US Land, and higher fluids activity in the Gulf of America. sustainable energy future. Visit us at www.halliburton.com; connect with us on LinkedIn, government regulations and regulatory requirements, particularly those related to oil and 281-871-2688 281-871-2601 decision-making over the full production lifecycle. Kingdom of Saudi Arabia. This award is part of a broader multi-billion contract, or $0.55 per diluted share. Halliburton’s total revenue for the second quarter of 2026 was Partially offsetting these increases were lower specialty chemicals activity in US Land YouTube, Instagram, and Facebook. natural gas exploration, the environment, radioactive sources, explosives, chemicals, supporting one of the largest unconventional gas development programs globally. $5.7 billion, compared to total revenue of $5.4 billion in the first quarter of 2026. Operating following the sale of a portion of our chemical business and decreased drilling activity in the hydraulic fracturing services, and climate-related initiatives; assumptions regarding the
- Halliburton successfully deployed its VersaFlex® expandable liner hanger system in (a)During the six months ended June 30, 2026, Halliburton recognized a pre-tax credit of $95 million primarily due to a $54 million gain resulting from changes in our ownership interest in an equity investment, and a $10 million gain from remeasuring an equity investment to fair value. Other credits of $48 million were primarily due to a government refund recovery. These gains were partially offset by a $17 million loss on the sale of a portion of our chemical business, which closed in April 2026. During the six months ended June 30, 2025, Halliburton recognized a pre-tax charge of $356 million as a result of severance costs, an impairment of assets held for sale, an impairment on real estate facilities, and other items, primarily related to legacy environmental remediation cost estimate increases.(b)Adjusted operating income is a non-GAAP financial measure which is calculated as: “Operating income” plus “Total impairments and other charges (credits)” for the respective periods. Management believes that operating income adjusted for impairments and other charges (credits) is useful to investors to assess and understand operating performance, especially when comparing those results with previous and subsequent periods or forecasting performance for future periods, primarily because management views the excluded items to be outside of the company's normal operating results. Management analyzes operating income without the impact of these items as an indicator of performance, to identify underlying trends in the business, and to establish operational goals. The adjustments remove the effect of these items.(c)We calculate operating margin by dividing operating income by revenue. We calculate adjusted operating margin, a non-GAAP financial measure, by dividing adjusted operating income by revenue. Management believes adjusted operating margin is useful to investors to assess and understand operating performance. This award builds on Halliburton’s established portfolio supporting Aramco’s income was $778 million in the second quarter of 2026, compared to operating income of Gulf of America. (a)See Footnote Table 1 for details of the impairments and other charges (credits) recorded during the three months ended June 30, 2026.(b)During the three months ended June 30, 2026, the tax adjustment includes the tax effect on impairments and other credits. (c)Adjusted net income attributable to company is a non-GAAP financial measure which is calculated as: “Net income attributable to company” plus “Total adjustments, net of taxes” for the respective periods. Management believes net income adjusted for impairments and other credits, along with the tax adjustment, is useful to investors to assess and understand operating performance, especially when comparing those results with previous and subsequent periods or forecasting performance for future periods, primarily because management views the excluded items to be outside of the company's normal operating results. Management analyzes net income without the impact of these items as an indicator of performance to identify underlying trends in the business and to establish operational goals. Total adjustments remove the effect of these items.(d)Net income per diluted share is calculated as: “Net income attributable to company” divided by “Diluted weighted average common shares outstanding.” Adjusted net income per diluted share is a non-GAAP financial measure which is calculated as: “Adjusted net income attributable to company” divided by “Diluted weighted average common shares outstanding.” Management believes adjusted net income per diluted share is useful to investors to assess and understand operating performance. generation of future taxable income, and compliance with laws related to and disputes with the bp-operated Azeri - Chirag - Gunashli project offshore Azerbaijan in the Caspian unconventional program. Across many of the Kingdom’s unconventional plays, $679 million in the first quarter of 2026. Adjusted operating income in the second quarter of (a)See Footnote Table 2 for details of the impairments and other charges (credits) recorded during the six months ended June 30, 2026 and June 30, 2025.(b)During the six months ended June 30, 2026 and June 30, 2025, the tax adjustment includes the tax effect on impairments and other charges (credits).(c)Adjusted net income attributable to company is a non-GAAP financial measure which is calculated as: “Net income attributable to company” plus “Total adjustments, net of taxes” for the respective periods. Management believes net income adjusted for the impairments and other charges (credits), along with the tax adjustment, is useful to investors to assess and understand operating performance, especially when comparing those results with previous and subsequent periods or forecasting performance for future periods, primarily because management views the excluded items to be outside of the company's normal operating results. Management analyzes net income without the impact of these items as an indicator of performance to identify underlying trends in the business and to establish operational goals. Total adjustments remove the effect of these items.(d)Net income per diluted share is calculated as: “Net income attributable to company” divided by “Diluted weighted average common shares outstanding.” Adjusted net income per diluted share is a non-GAAP financial measure which is calculated as: “Adjusted net income attributable to company” divided by “Diluted weighted average common shares outstanding.” Management believes adjusted net income per diluted share is useful to investors to assess and understand operating performance. taxing authorities regarding income taxes; risks of international operations, including risks Sea. The operation reinforces the companies’ long-standing collaboration and Halliburton delivers a comprehensive suite of drilling and completion solutions. Its 2026, excluding “Impairments and other credits,” was $683 million. International relating to unsettled political conditions, war, the effects of terrorism, foreign exchange rates demonstrates Halliburton’s ability to deliver high-value well construction solutions in integrated service model is designed to support high-intensity development programs and controls, international trade and regulatory controls, tariffs, and sanctions, and doing one of the region’s most complex offshore environments. The project highlights the and improve operational efficiency, workflow predictability, and execution reliability. “I am pleased with Halliburton’s performance this quarter, and believe the global outlook for International revenue in the second quarter of 2026 was $3.4 billion, an increase of 5% business with national oil companies; weather-related issues, including the effects of Company’s focus to support customer objectives throughout the well life cycle. This collaboration supports broader regional efforts toward integrated unconventional Halliburton is strong. I expect our differentiated technology and value proposition set the when compared to the first quarter of 2026. hurricanes and tropical storms; delays or failures by customers to make payments owed to development programs. stage for revenue growth and margin expansion.” commented Jeff Miller, Chairman, us; infrastructure issues in the oil and natural gas industry; availability and cost of highly
- Halliburton launched the Xaminer® Deep Testing logging service, the newest addition President and CEO. skilled labor and raw materials; completion of potential dispositions, and acquisitions, and Latin America revenue in the second quarter of 2026 was $1.1 billion, an increase of 3%
- Halliburton wins major integrated well construction contracts for the GranMorgu to the Reservoir Xaminer™ formation testing service. Developed through close integration and success of acquired businesses and joint ventures; risks related to the sequentially. These results were primarily driven by increased stimulation activity in deepwater development offshore Suriname, operated by TotalEnergies. The collaboration with operators facing increasingly complex reservoirs, the service brings See Footnote Table 1 for Reconciliation of Operating Income to Adjusted Operating Income. “In international markets, I am excited about Halliburton’s contract awards and pipeline of deployment of artificial intelligence. Halliburton's Form 10-K for the year ended December (a)See Footnote Table 1 for details of the impairments and other charges (credits) recorded during the three months ended June 30, 2026.(b)The income tax provision during the three months ended June 30, 2026 includes the tax effect on impairments and other credits. The income tax provision during the three months ended March 31, 2026 includes a $32 million tax benefit associated with a valuation allowance release.See Footnote Table 1 for Reconciliation of Operating Income to Adjusted Operating Income.See Footnote Table 3 for Reconciliation of Net Income to Adjusted Net Income. Argentina and Mexico, and improved completion tool sales in Mexico. Partially offsetting agreement includes drilling and completions services for a long-term program. deep-reading producibility and boundary identification earlier in the well life cycle to future opportunities. I see demand growth for our services and technology in every region See Footnote Table 2 for Reconciliation of Operating Income to Adjusted Operating Income. 31, 2025, Form 10-Q for the quarter ended March 31, 2026, Current Reports on Form 8-K these increases were lower activity across multiple product service lines in the Caribbean, (a)See Footnote Table 2 for details of the impairments and other charges (credits) recorded during the six months ended June 30, 2026 and June 30, 2025.(b)The income tax provision during the six months ended June 30, 2026, includes the tax effect on impairments and other (charges) credits and a $32 million tax benefit associated with a valuation allowance release. The income tax provision during the six months ended June 30, 2025, includes the tax effect on impairments and other (charges) credits.See Footnote Table 2 for Reconciliation of Operating Income to Adjusted Operating Income.See Footnote Table 4 for Reconciliation of Net Income to Adjusted Net Income. Halliburton will deploy a fully integrated, digital and automation execution model that support integrated decisions that complement traditional drill stem testing. we serve. and other Securities and Exchange Commission filings discuss some of the important risk decreased well construction activity in Mexico and Ecuador, and decreased completion tool unites planning, engineering, and operations to improve performance, accelerate factors identified that may affect Halliburton's business, results of operations, and financial sales in Brazil. learning, and reduce total cost of ownership throughout well construction. •Halliburton launched the Optimized Single-Trip Multi-Zone (OSTMZ®) sand control “In North America, I am encouraged by the recovery we saw this quarter and I expect condition. Halliburton undertakes no obligation to revise or update publicly any forwardsystem that reduces rig time, lowers total cost of ownership for operators, and safely incremental improvements through the year. looking statements for any reason, except as required by law. Europe/Africa revenue in the second quarter of 2026 was $1.0 billion, an increase of 19%
- Halliburton has been awarded a contract by Basra Oil Company to provide Integrated improves well productivity as complexity increases. The system supports efficient sequentially. These results were primarily driven by improved activity across multiple product “I expect that our consistent focus on returns and capital discipline will drive long-term Field Management Services and Engineering, Procurement, and Construction completion operations and increases reservoir coverage in complex multizone wells. service lines in the North Sea, increased well construction activity in Namibia and Egypt, success for Halliburton and its shareholders,” concluded Miller. Management (EPCM) for the development of the Bin Umar and Sindbad oil and gas Operators that complete multizone wells often manage extended schedules, multiple higher completion tool sales in the Mediterranean and Ivory Coast, and increased project (a)Working capital includes receivables, inventories, and accounts payable.See Footnote Table 5 for Reconciliation of Cash Flows from Operating Activities to Free Cash Flow. fields in southern Iraq. The contract scope includes field development planning, service-tool trips, and increased operational exposure. The OSTMZ sand control management activity in Angola. Partially offsetting these increases were decreased software Operating Segments production optimization, digital solutions, and EPCM services for the two fields. system addresses these challenges and treats multiple zones in a single trip, without sales across the region and lower activity across multiple product service lines in Libya. Halliburton will deploy the Landmark portfolio to build a digital foundation that deployment-tool repositioning or repeated surface-equipment testing. Completion and Production connects subsurface insights, well delivery, production operations, and business Middle East/Asia revenue in the second quarter of 2026 was $1.3 billion, a decrease of 2% planning. Halliburton digitally integrates planning and execution to improve visibility, •Halliburton held its 2026 Technology Showcase from May 4-7 in Houston, which was sequentially. These results were primarily driven by lower activity across multiple product Completion and Production revenue in the second quarter of 2026 was $3.2 billion, an increase efficiency, and support faster, higher-quality decisions. attended by nearly 400 industry professionals from around the world. The event service lines in Kuwait, Iraq, and Qatar as a result of the ongoing geopolitical conflict in the increase of $186 million, or 6% sequentially, while operating income was $474 million, an brought industry and technical leaders together and showed how digital capabilities Middle East. Partially offsetting these decreases were higher well construction activity in increase of $35 million, or 8% sequentially. These results were primarily driven by increased translate into real-time execution at the wellsite to improve asset performance for our Saudi Arabia and the United Arab Emirates, and increased drilling-related services and stimulation activity in the Western Hemisphere and improved well intervention services in customers. Halliburton showcased measurable value from the integration of software, higher well intervention services in Asia. Asia. Partially offsetting these increases were lower specialty chemicals activity in North artificial intelligence, and automation into real-time operations. America resulting from the completed sale of a portion of our chemical business, decreased cementing activity in Latin America, and lower activity across multiple product service lines in the Middle East.