Jeff Miller, chairman, president and CEO of Halliburton Co., spoke with Hart Energy’s Jessica Morales about Halliburton’s near- and long-term plans plus an outlook for the oilfield services sector as a whole.
“The strategy is the same and I think what that should tell you is we have our eyes firmly fixed on the future,” Miller said while commenting on Halliburton’s recent decision to slash its quarterly dividend by 75%. “Those are near-term things that we do to manage liquidity, also pay down debt which we know we want to do, and continue to support the technology programs and things that are so important so that, when we do see the recovery, Halliburton will absolutely be in the best position to come roaring out of the downturn or into the recovery. But it takes solid liquidity to make all of that happen and those are the steps you are seeing us take.”
Additionally, Miller said Halliburton, one of the world's largest oilfield service companies, is implementing a North America strategy that lowers its cost. “We are adopting a lot of digital in our processes much faster than we have ever done before,” he said.
Jump to a topic:
- OFS sector outlook (1:31)
- Halliburton’s strategy for downturn (2:03)
- Recent dividend cut/BOD retainer reduction (2:43)
- International markets (3:30)
- Top technology trends (5:38)
- Digitalization’s role in current environment (6:33)
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