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HALLIBURTON AWARDED $24 MILLION FROM SMITH INTERNATIONAL
HOUSTON, Texas - Halliburton (NYSE:HAL) announced today that a verdict was rendered in its favor by the United States District Court, Eastern District of Texas, Sherman Division, in connection with a patent infringement lawsuit filed against Smith International. The jury awarded Halliburton $24 million in damages.
"Halliburton is pleased with the jury's verdict," said John Gibson, chief executive officer, Halliburton's Energy Services Group. "The Energy Balanced(TM) roller cone drill bit product line has delivered great results for our customers and we intend to offer this technology to any customer anywhere in the world."
Security DBS, Halliburton's drill bit business, filed this lawsuit in September 2002 seeking damages for Smith's infringement of the patented technology. The jury found that Smith's competing bits, known as IDEAS, including Twist and Shout bits, willfully infringed three of Halliburton's patents. The jury also rejected Smith's claims that the patents are invalid.
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 World Wide Web site can be accessed at www.halliburton.com.
Contact
Paul Koeller
paul.koeller@halliburton.com
Halliburton, Investor Relations
(p) 713.759.2688
Wendy Hall
wendy.hall@halliburton.com
Halliburton, Public Relations
(p) 713.759.2605
Employment Contact
Overseas & US Employment with KBR
www.kbrjobs.com
(p) 866.308.5239
US Employment with Halliburton
www.halliburton.com
Click on careers
Supplier/Procurement Contact
kbr_supplier_relations@halliburton.com
Supplier Diversity Contact
Erin Petkovich
supplier_diversity@halliburton.com
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