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APPEALS COURT UPHOLDS VERDICT
HOUSTON, Texas – Halliburton (NYSE: HAL) announced today that a three judge panel of the United States Court of Appeals for the Federal Circuit in Washington D.C. affirmed a $98 million judgment against Halliburton in a patent infringement case brought against it by BJ Services Company.
In light of the trial court judgment, the full amount of the damages, interest, and costs was accrued in the first quarter of 2002 and will have no impact on the company's 2003 financial results.
"While we are disappointed with the decision, Halliburton has not been using this fracturing method since April 2002 and has replaced the technique with more advanced technology," said John Gibson, president and chief executive officer, Halliburton's Energy Services Group. "Halliburton pioneered fracturing more than 50 years ago and continuously develops new and innovative products and services. We expect to maintain our leadership position in this business."
Halliburton, founded in 1919, is one of the world's largest providers of products and services to the petroleum and energy industries. The company serves its customers with a broad range of products and services through its Energy Services Group and Engineering and Construction Group business segments. The company's web site is located at www.halliburton.com.
Contact
Wendy Hall
wendy.hall@halliburton.com
Manager, Public Relations
(p) 713.759.2605
Cedric Burgher
cedric.burgher@halliburton.com
Vice President, Investor Relations
(p) 713.759.2688
Employment Contact
jobs@halliburton.com
(p) 800.888.7668
ext. 8005
Supplier/Procurement Contact
kbr_supplier_relations@halliburton.com
Supplier Diversity Contact
Erin Petkovich
supplier_diversity@halliburton.com
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