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To: Texasforever
The other fly in the ointment is that the scale of projects that Halliburton deals with are many times funded by governments that are very reluctant and sometimes unable to keep cash flow high enough to make some payment schedules so the change orders are booked as IOUs to keep the project budgets coherent.

Does Halliburton every take drilling proceeds or contracts as payment?

2,615 posted on 07/15/2002 10:10:07 PM PDT by nunya bidness
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To: nunya bidness
Does Halliburton every take drilling proceeds or contracts as payment?

Halliburton does not drill for oil( unless they have recently started) as such. It provides equipment and in some cases contract crews but that is on a service contract usually on a simple time and materials basis. Halliburton is far more likely to have designed and built the drilling platform itself.

2,623 posted on 07/15/2002 10:21:51 PM PDT by Texasforever
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To: nunya bidness
Does Halliburton every take drilling proceeds or contracts as payment?

I completely misread your question. I am sure they may have at some time done that. I do know that Halliburton has taken equity positions in petro-chemical plants when the client has had trouble gaining financing on his own.

2,626 posted on 07/15/2002 10:25:02 PM PDT by Texasforever
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