Halliburton Closes Deal to Sell Nigeria-Based Lift Boats.HOUSTON -- Two Halliburton (NYSE NYSE See: New York Stock Exchange :HAL Hal: see Halle, Belgium. hal In Sufism, a state of mind reached from time to time by mystics during their journey toward God. The ahwal (plural of hal) are God-given graces that appear when a soul is purified of its attachments to the material world. ) subsidiaries, Halliburton West Africa West Africa A region of western Africa between the Sahara Desert and the Gulf of Guinea. It was largely controlled by colonial powers until the 20th century. West African adj. & n. Limited and Halliburton Energy Services Nigeria Limited, announced today that they have finalized the previously announced agreement to sell certain non-core assets to Hercules Offshore, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :HERO). The sale includes eight lift boats and gives Hercules the right to operate five additional lift boats under an agreement with the third-party vessel owner. The 13 vessels, with an average age of 20 years, are based in Nigeria and operate in the coastal waters of West Africa. The initial purchase price is approximately $50 million, with additional payments to Halliburton over a three-year period based on an earn-out arrangement. The sale will result in a pre-tax gain for Halliburton of more than $35 million. "As we stated previously, the sale of these assets is in line with Halliburton's decision several years ago to exit the lift boat business," said Cris Gaut, Halliburton's Chief Financial Officer. 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 KBR KBR Kellogg, Brown and Root KBr Potassium Bromide KBR Key-Based Routing KBR Kota Bharu, Malaysia - Sultan Ismail Petra (Airport Code) KBR Koninklijke Bibliotheek van België / Bibliothèque royale de Belgique . Visit the company's Web site at www.halliburton.com. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion