Halliburton could use $2.4 billion cash position for debt retirement

By Devika Patel

Knoxville, Tenn., Jan. 22 – Halliburton Co. is “actively evaluating” what it plans to do with its $2.4 billion of cash and is considering debt retirement.

The company has a $400 million maturity due in August 2018, which it intends to retire.

“We are actively evaluating our options around uses of cash, which could include debt retirement, funding acquisitions and organic growth projects or return of capital to shareholders,” executive vice president and chief financial officer Christopher T. Weber said on the company’s fourth quarter and year ended Dec. 31, 2017 earnings conference call on Monday.

The company has an upcoming maturity that it plans to retire.

“We’ve got that $400 million maturity coming due in August this year,” Weber said. “We plan to retire that.”

The company generated $440 million of cash in the fourth quarter, lifting its cash position at year end to $2.4 billion.

Halliburton is a Houston-based diversified energy services company.

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