Halliburton Wins $400 Million BP Contract

Halliburton Energy Services has been awarded a three-year contract by BP America Production Company to provide products and services for its drilling and completion activities in the Gulf of Mexico and lower 48 states. The contract, estimated at approximately $400 million total value, includes all of Halliburton's product service lines that were tendered.

"This award was based on HSE, operational performance, technology innovation and commercial considerations," said Dave Lesar, chairman, president and chief executive officer, Halliburton. "We are very pleased with the confidence that BP has shown through this award in Halliburton's ability to deliver value and service quality. This award represents a 50 percent increase in our market share with BP in the Gulf of Mexico and lower 48 states, with the most significant gains occurring in logging and stimulation."

"We are very pleased with the overall performance and innovation that has been demonstrated by Halliburton and clearly identified by our Contractor Performance Management process in the Well Services sector," said Pete Zwart, vice president, Supply Chain Management, BP.

Some of the Halliburton technologies that will be available under the contract include Baroid's ACCOLADE(TM) drilling fluid, Sperry-Sun's GeoPilot(R) rotary steerable system, Halliburton L&P's MRILab(TM) service, and Halliburton MicroPolymer(SM) (HMP) fracturing service.

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