Halliburton Co. Names Loeffler Chief Financial Officer -- Update
November 12 2018 - 6:36PM
Dow Jones News
By Maria Armental
Halliburton Co. (HAL) has promoted Lance Loeffler to chief
financial officer, the oilfield services company said Monday.
Mr. Loeffler, who joined Halliburton in 2014 as vice president
of corporate development overseeing mergers and acquisitions, would
be Halliburton's second CFO in less than two years. He replaces
Christopher Weber, who joined Halliburton in June 2017 from Parker
Drilling Co. and is leaving to pursue other opportunities,
Halliburton said.
In announcing Mr. Loeffler's promotion from vice president of
investor relations, Chief Executive Jeff Miller credited his
knowledge of the company and experience with the investment
community.
"Lance understands our returns-focused strategy, has a strong
relationship with our executive management team and will have an
immediate impact as he transitions into his new role," Mr. Miller
said in a statement.
Before joining Halliburton, Mr. Loeffler was an investment
banker at Deutsche Bank Securities Inc.
The Houston-based company posted stellar financial results this
year, boosted in part by higher pressure-pumping activity, the main
step in the fracking process in which water and other materials are
injected into a well to break apart rock formations and unleash oil
or natural gas.
For the first nine months of the year, profit surged to $992
million, or $1.13 a share, from $361 million, or 41 cents a share a
year earlier. Revenue climbed to $18.06 billion from $14.68 billion
a year ago.
Write to Maria Armental at maria.armental@wsj.com
(END) Dow Jones Newswires
November 12, 2018 18:21 ET (23:21 GMT)
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