Halliburton Co (HAL.N) filled a gap in its offering of oil and gas extraction services with a deal to purchase Multi-Chem Group LLC, North America's fourth-largest production chemicals company. Halliburton, the world No. 2 in oilfield services, sees increasing demand among all its customers, including the leading integrated oil companies, for more services under one roof, Chief Executive David Lesar said. "It has been frustrating pumping competitors' chemicals with our equipment," he told investors at the Barclays Capital 2011 CEO Energy-Power Conference in New York on Tuesday. The acquisition of San Angelo, Texas-based Multi-Chem, announced earlier on Tuesday, was for an undisclosed price. It is expected to receive regulatory clearances in the fourth quarter, Halliburton said in a statement.
Halliburton Company is an oilfield services company. Shares of HAL fell by 2.34% or $-0.97/share to $40.57. In the past year, the shares have traded as low as $28.86 and as high as $57.77. On average, 14155600 shares of HAL exchange hands on a given day and today's volume is recorded at 13467104.
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