Starting with nothing, Erle Halliburton founded a multibillion-dollar business called, well… Halliburton, which mainly provides oil services in the United States.
His company grew so big that it became a financial giant that continues to operate and generate huge sales and income up to this day.
Halliburton was very innovative and developed tools and approaches that helped expand the company as well as make operations more efficient.
Erle Halliburton’s Get-Rich Formula
At the start, Erle Halliburton and his wife, Vida, were developing methods on how to cement oil wells. When they finally found the right technique in 1919, they founded a company and named it the New Method Oil Well Company. The business was located at Healdton field at Ardmore, Oklahoma.
Erle continued to develop and innovate the company’s products and services by patenting technologies, formulating programs and minimizing utility expenses which were the main drive of the company. The aluminum suitcase made by Zero Halliburton was designed by Erle himself.
The New Method Oil Well Company continued to flourish through World War II until the time of Erle’s death in 1957. During his tenure, he constantly expanded the business and built several offices in various areas. His company had 201 offices located in over twenty different states and foreign nations. Erle’s company was worth billions at the time of his retirement. It was only in 1960 when the New Method Oil Well Company was renamed Halliburton.
The Erle Halliburton Quick Bio
Full Name: Erle Palmer Halliburton
Birth Date: 1892
Birth Place: Tennessee
Industry: Utilities and Energy
Key success traits: unyielding innovator, meticulous manager
George Brown, Herman Brown and Dan Root, founders of Brown & Root also started their company at around the same time Erle and Vida Halliburton began the New Method Oil Well Company.
Halliburton acquired the construction company, Brown & Root in 1962 after Herman Brown died. Kellogg, Brown & Root Company became the engineering support of Halliburton from then on. Both became financial giants well into the 21st century, being labeled as two of the top energy services, engineering and construction companies in the world and worth several billions of dollars in sales.
Halliburton and KBR finally separated in 2007. Halliburton Energy Services is based in Houston, Texas at present and has huge oil operations in the Middle East. KBR still functions as a major construction company.