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10 HALLIBURTON // 2013 ANNUAL REPORT
Halliburton has built a leadership position in North American
unconventionals by anticipating the market’s evolution and
developing technology to meet emerging needs. Initiatives
underway for several years have prepared us for today’s high-
velocity environment where completing wells faster and better
are key elements in delivering the lowest costper barrel of oil
equivalent (BOE).
Three years ago, we made a commitment to remain the undisputed
leader in unconventionals, and we have done so by executing on a
number of key strategies. We’ve focused holistically on the reservoir
performance and pioneered integrated solutions that cut across
product and service lines to solve customer challenges. More than
85percent of our North American revenue now comes from
integrated services. We also have built the industry’s most ecient
and eective delivery platform and taken the lead in environmentally
sensitive solutions. Today, we are focused on leveraging proprietary
technologies like CYPHERSM to design and execute the best well
plans, and to be the lowest cost-per-barrel provider for our customers.
Introducing HALvantage™
Three years ago, we created a blueprint for Frac of the Future.™
Now a reality, this concept is a game changer that has improved all
aspects of surface eciency, reducing our footprint as well as the
equipment, personnel and capital needed on location. We have
exceeded our own targets, reducing capital deployed by 20 percent,
lowering maintenance costs by 35 percent and improving completion
times by almost 40 percent at sites where Frac of the Future™ is
employed. This superior operational eciency turns customer
wellinventories into producing assets faster, lowers the cost to
deliver each BOE and represents a competitive dierentiator
forHalliburton.
Frac of the Future™ is just one part of HALvantage,™ which is
extending our competitive advantage by taking eciency to the
next level. After reinventing our delivery platform, we began
working to reduce non-operating time in the field. We are
implementing mobile technology to centralize and digitize internal
processes, eliminate touch points and bottlenecks, and streamline
operations – not just in unconventionals, but across all of our
product lines and businesses.
Expanding Internationally
Halliburton is carrying its unconventionals leadership into emerging
international markets, which are beginning to develop as countries
strive to gain energy independence. We drilled and completed
thefirst unconventional wells in many international markets.
Incountries such as Australia, Argentina, China and Saudi Arabia,
weare able to leverage our established infrastructure to support
emerging unconventional opportunities.
“The initiatives that have created North America’s most efficient and
effective delivery platform are an example of how Halliburton continually
reinvents itself. Now we are refining efficiency even further, centralizing
anddigitizing our internal processes across all of our product lines and
operations to extend the HALvantage.™”
JEFFREY A. MILLER
Executive Vice President, Chief Operating Officer and
Chief Health, Safety and Environment Officer