<SEC-DOCUMENT>0001193125-22-257491.txt : 20221202
<SEC-HEADER>0001193125-22-257491.hdr.sgml : 20221202
<ACCEPTANCE-DATETIME>20221004143651
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001193125-22-257491
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20221004

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HALLIBURTON CO
		CENTRAL INDEX KEY:			0000045012
		STANDARD INDUSTRIAL CLASSIFICATION:	OIL, GAS FIELD SERVICES, NBC [1389]
		IRS NUMBER:				752677995
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		3000 NORTH SAM HOUSTON PARKWAY EAST
		STREET 2:		3000 NORTH SAM HOUSTON PARKWAY EAST
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77032
		BUSINESS PHONE:		2818712699

	MAIL ADDRESS:	
		STREET 1:		3000 NORTH SAM HOUSTON PARKWAY EAST
		STREET 2:		3000 NORTH SAM HOUSTON PARKWAY EAST
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77032

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HALLIBURTON OIL WELL CEMENTING CO
		DATE OF NAME CHANGE:	19660911
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<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3000 North Sam Houston Parkway East, Houston, Texas 77032 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Phone 281.871.2699 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">October&nbsp;4, 2022 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I><U>VIA EDGAR
</U></I></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">United States Securities and Exchange Commission </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Division of Corporation Finance </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Office of Energy&nbsp;&amp;
Transportation </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">100 F Street, N.E. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Washington, D.C. 20549
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">Attn:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Michael Purcell and Karina Dorin </P></TD></TR></TABLE>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">RE:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Halliburton Company </P></TD></TR></TABLE>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Form <FONT STYLE="white-space:nowrap">10-K</FONT> for the Fiscal Year Ended December&nbsp;31, 2021 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Filed February&nbsp;4, 2022 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">File
<FONT STYLE="white-space:nowrap">No.&nbsp;001-03492</FONT> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ladies and Gentlemen: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Halliburton Company (the &#147;<U>Company</U>&#148; or &#147;<U>Halliburton</U>&#148;) hereby submits via EDGAR the Company&#146;s responses to the comments
received from the staff (the &#147;<U>Staff</U>&#148;) of the United States Securities and Exchange Commission (the &#147;<U>Commission</U>&#148;) set forth in the Staff&#146;s letter to the Company, dated September&nbsp;21, 2022, with respect to
(i)&nbsp;the Company&#146;s Form <FONT STYLE="white-space:nowrap">10-K</FONT> for the Fiscal Year ended December&nbsp;31, 2021 filed with the Commission via the Commission&#146;s EDGAR system on February&nbsp;4, 2022 (the &#147;<U>2021 Form <FONT
STYLE="white-space:nowrap">10-K</FONT></U>&#148;) and (ii)&nbsp;the Company&#146;s letter, dated September&nbsp;9, 2022 (the &#147;<U>Initial Response Letter</U>&#148;), which was in response to the comments of the Staff with respect to the 2021
Form <FONT STYLE="white-space:nowrap">10-K</FONT> set forth in the letter from the Staff to the Company dated August&nbsp;25, 2022. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Set forth below are
the Company&#146;s responses to the Staff&#146;s comments. The Company&#146;s responses are preceded by the Staff&#146;s comments for ease of reference. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I><U>Response dated September&nbsp;9, 2022 </U></I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I><U>Risk Factors, page 9 </U></I></B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>1.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>We note your response to prior comment 2 states that climate change transition considerations are not the
only source of technology transition risks and are not more significant than other factors that give rise to these types of risks. In that regard, your </B></P></TD></TR></TABLE>
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response indicates that climate change technology transition risks are mitigated by your emissions reduction goal and that technology risks related to such goal are not unique to climate change.
Please explain with greater specificity how you assessed climate change technology transition risks and credit risks as opposed to other risks for purposes of disclosure in your SEC filings. </B></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: The Company has disclosure controls and procedures to proactively monitor and respond to potential risks to our business and
industry, which we then evaluate in relation to the Company&#146;s disclosure in our Commission filings. As noted in our Initial Response Letter, we believe that one of the significant risks that we face in energy transition is that we will be
unable to innovate in a timely, cost-efficient manner, or at all. The overall risk related to innovation in our business is described in our 2021 Form <FONT STYLE="white-space:nowrap">10-K</FONT> on page 10 under the caption &#147;Risk Factors
&#150; Industry Environment Related&#148; in the risk factor entitled &#147;<I>If we are not able to design, develop and produce commercially competitive products and to implement commercially competitive services in a timely manner in response to
changes in the market, customer requirements, competitive pressures, and technology trends, our business and consolidated results of operations could be materially and adversely affected, and the value of our intellectual property may be
reduced</I>.&#148; In order to make it more clear that climate change and energy transition are included in these factors (e.g., customer requirements, competitive pressures and technology trends), we propose modifying this risk factor in our future
Form <FONT STYLE="white-space:nowrap">10-K</FONT> filings (beginning with our Form <FONT STYLE="white-space:nowrap">10-K</FONT> for the&nbsp;Fiscal&nbsp;Year&nbsp;ended December&nbsp;31, 2022 that will be filed with the Commission via&nbsp;the
Commission&#146;s EDGAR system in February 2023 (the &#147;<U>2022 Form <FONT STYLE="white-space:nowrap">10-K</FONT></U>&#148;)) by adding the underlined text as follows (subject to final internal review and revision): </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman"><B><I>If we are not able to design, develop and produce commercially competitive products and to implement commercially competitive services
in a timely manner in response to changes in the market, customer requirements, competitive pressures, <U>developments associated with climate change concerns and energy transition,</U> and technology trends, our business and consolidated results of
operations could be materially and adversely affected, and the value of our intellectual property may be reduced. </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">The market for
our services and products is characterized by continual technological developments to provide better and more reliable performance and services. If we are not able to design, develop, and produce commercially competitive products and to implement
commercially competitive services in a timely manner in response to changes in the market, customer requirements, competitive pressures, <U>developments associated with climate change concerns and energy transition,</U> and technology trends, our
business and consolidated results of operations could be materially and adversely affected, and the value of our intellectual property may be reduced. Likewise, if our proprietary technologies, equipment, facilities, or work processes become
obsolete, we may no longer be competitive, and our business and consolidated results of operations could be materially and adversely affected. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">As noted in our Initial Response Letter, we do not anticipate that any material credit&nbsp;risks&nbsp;would arise from the energy transition,
although we will continue to evaluate that judgment as policy and regulatory changes and market trends evolve. For the period covered by the 2021 Form <FONT STYLE="white-space:nowrap">10-K,</FONT> we
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did not encounter any issues accessing capital. In April of 2022, we refinanced our revolving credit facility and maintained the $3.5&nbsp;billion capacity for five years under substantially the
same terms and conditions as the previous facility. Though we monitor developments in relation to capital providers reducing exposure to companies associated with the oil and gas industry as a result of climate change concerns and energy transition,
we do not believe it is likely that those concerns will have a significant impact on our ability to access capital for the foreseeable future. Nonetheless, as we evaluate our risk-factor disclosures in our future Commission filings, we will adjust
them as appropriate to reflect the potential for future credit risks to the Company related to climate change and energy transition. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I><U>Management&#146;s Discussion and Analysis of Financial Condition and Results of Operations, page 21 </U></I></B></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>2.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>We note your response to prior comment 5. However, it does not appear that you have addressed the specific
elements of our prior comment or explained the basis for your conclusion regarding materiality. Please explain in greater detail how you considered providing disclosure regarding the following indirect consequences of climate-related regulations or
business trends: </B></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><B>decreased demand for goods or services that produce significant greenhouse gas emissions or are related to
carbon-based energy sources; </B></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><B>increased demand for goods or services that result in lower emissions than competing products;
</B></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><B>increased competition to develop innovative new products that result in lower emissions; and
</B></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><B>any anticipated reputational risks resulting from your operations or products that produce material greenhouse
gas emissions. </B></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: In response to the Staff&#146;s request for additional detail as to our
consideration of the factors listed in the comment above, we would note the following for each: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><B>decreased demand for goods or services that produce significant greenhouse gas emissions or are related to
carbon-based energy sources; </B></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">As noted in our Initial Response Letter, we describe on page 9 of the 2021 Form <FONT
STYLE="white-space:nowrap">10-K</FONT> under the caption &#147;Risk Factors &#150; Industry Environment Related&#148; in the risk factor entitled &#147;<I>Trends in oil and natural gas prices affect the level of exploration, development, and
production activity of our customers and the demand for our services and products, which could have a material adverse effect on our business, consolidated results of operations, and consolidated financial condition,&#148; </I>that an increased
emphasis on decarbonization, including government initiatives to promote the use of renewable energy sources and public sentiment around alternatives to oil and gas, could affect the price of oil and natural gas and, as a result, demand
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for our services and goods. We considered these potential developments in light of global projected population growth trends and the challenges in developing other sources of affordable,
efficient, and reliable energy, and on balance believe that the need for oil and gas exploration and development and, as a result, demand for our services and goods, will continue for the foreseeable future. As a result, following deliberation of
these considerations within our Disclosure Committee framework, we determined in preparing our 2021 Form <FONT STYLE="white-space:nowrap">10-K</FONT> that the indirect consequences of climate-related regulation and business trends did not have a
material impact on our business, financial condition, or results of operations. We continue to monitor these factors and will update our risk factor disclosure in future Commission filings as appropriate if circumstances change. </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><B>increased demand for goods or services that result in lower emissions than competing products;
</B></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">As discussed earlier in this response to comment #2, we expect that the need for oil and gas exploration and
development and, as a result, our services, will continue for the foreseeable future. We also believe that the potential increased demand for products and services that result in lower emissions than competing products creates opportunity for
Halliburton. We continue to evaluate the transition opportunities related to our <FONT STYLE="white-space:nowrap">low-carbon</FONT> products and services solutions, including those discussed in our Initial Response Letter. For example, we discussed
in our Initial Response Letter, our NeoCem<SUP STYLE="font-size:75%; vertical-align:top">&#153;</SUP> cement system and our <FONT STYLE="white-space:nowrap">all-electric</FONT> fracturing capabilities. If demand for products such as NeoCem<SUP
STYLE="font-size:75%; vertical-align:top">&#153;</SUP> and services such as <FONT STYLE="white-space:nowrap">all-electric</FONT> fracturing increases, we are well-positioned to meet our customers&#146; needs. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">We determined in preparing our 2021 Form <FONT STYLE="white-space:nowrap">10-K</FONT> that the indirect consequences of climate-related
regulation and business trends, including an increased demand for products or services that result in lower emissions than our competing products and services, did not have a material impact on our business, financial condition, or results of
operations. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><B>increased competition to develop innovative new products that result in lower emissions; and
</B></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">As discussed in response to comment #1, we acknowledge that one of the significant risks that we face in energy
transition generally is the risk that we will be unable to innovate technologically in a timely, cost-efficient manner, or at all. Although this risk was disclosed in our 2021 Form <FONT STYLE="white-space:nowrap">10-K,</FONT> as noted in our
response to comment #1, we will modify our disclosure beginning in our 2022 Form <FONT STYLE="white-space:nowrap">10-K</FONT> to note that it is also an energy transition-related risk for the Company. </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><B>any anticipated reputational risks resulting from your operations or products that produce material greenhouse
gas emissions. </B></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">We closely monitor public perception of the Company and its reputation and, in that regard, note that
some of our stakeholders are interested in learning more about our <FONT STYLE="white-space:nowrap">ESG-related</FONT> goals </P>
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and progress. Our Annual&nbsp;&amp; Sustainability Report is published in part to address this interest. As noted on page 22 of our 2021 Form <FONT STYLE="white-space:nowrap">10-K,</FONT> we
pursue strategic initiatives around advancing cleaner, affordable energy, and using innovation and technology to reduce the environmental impact of producing oil and gas. We strive to be good stewards in our industry, and we believe that our
stakeholders value our leadership in this regard. While we believe our 2021 Form <FONT STYLE="white-space:nowrap">10-K</FONT> risk factors and disclosure were complete and accurate, we do acknowledge risks related to ESG initiatives and disclosures,
could increase over time. Our reputational risks may continue to evolve, and we will update our risk factors if our material risks change. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>3.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>We note your response to prior comment 6 states that you do not believe that a weather event is likely to
impact the global supply chain in a material way. Please tell us how you considered the possible consequences to you from weather-related disruptions to your customers and suppliers as part of your risk factor titled &#147;Constraints in the supply
of, prices for and availability of transportation of raw materials can have a material adverse effect on our business and consolidated results of operations&#148; on page 11 of your Form <FONT STYLE="white-space:nowrap">10-K</FONT> and your risk
factor titled &#147;If we lose one or more of our significant customers or if our customers delay paying or fail to pay a significant amount of our outstanding receivables, it could have a material adverse effect on our business, consolidated
results of operations, and consolidated financial condition&#148; on page 17 of your Form <FONT STYLE="white-space:nowrap">10-K.</FONT> </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><U>Response</U>: As discussed in our Initial Response Letter, we do not believe that weather-related impacts have affected our major customers
or suppliers other than temporary delays in production that were limited to the affected markets or individual communities. When we experience supply constraints, they are typically demand driven and associated with increases in activity by our
customers. We closely monitor the Company&#146;s supply chain and note that none of our major suppliers have experienced a material weather-related disruption or weather-related supply chain constraint. We believe that, due to our diversified supply
chain and broad distribution of major customers and suppliers, any weather-related disruption in our supply chain would not materially disrupt our operations. In addition, due to the fact that the nature and timing of weather events are uncertain,
it is not possible for us to estimate reliably the future financial risk to our major customers or suppliers caused by these potential physical risks. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">With respect to the second risk factor referenced in the Staff&#146;s comment, payment delays or failures to pay by significant customers can
arise in a number of circumstances, typically during cyclical downturns in the oil and gas industry or when a customer is facing liquidity issues that may be attributable to poor operating performance. As we evaluate our risk-factor disclosures in
our future Commission filings, we will adjust them as necessary in light of the circumstances to reflect the potential for future supply chain impacts and customer impacts related to weather events. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">* * * * * </P>
</DIV></Center>


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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If you have any questions with respect to the foregoing or if any supplemental information is required by
the Staff, please do not hesitate to contact me. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Very truly yours, </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>

<TD WIDTH="7%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">HALLIBURTON COMPANY</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Eric J. Carre</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Eric J. Carre</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Executive Vice President, Chief Financial Officer</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left">cc:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Baker Botts L.L.P. </P></TD></TR></TABLE>
</DIV></Center>

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