Halliburton Enters Into Agreement To Acquire OOO Burservice

Halliburton (NYSE: HAL) has entered into a definitive agreement with the shareholders of OOO Burservice (Burservice) to purchase the entire share capital of the company. This agreement is subject to receipt of necessary regulatory approvals.

Founded in 2004, Burservice is a leading provider of directional drilling services in Russia. The company is headquartered in Usinsk, Republic of Komi, and has approximately 100 employees.

“Burservice, through its exceptional employees, has established an outstanding reputation for service quality in the Timano-Pechora region of Russia. We look forward to building on the company’s historical growth through the addition of Halliburton technology,” said Brady Murphy, vice president of Sperry Drilling Services.

Founded in 1919, Halliburton is one of the world’s largest providers of products and services to the energy industry. With nearly 50,000 employees in approximately 70 countries, the company serves the upstream oil and gas industry throughout the life cycle of the reservoir—from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production through the life of the field. Visit the company’s World Wide Web site at www.halliburton.com.