Russia-based management team entered into a non-binding letter of intent to acquire Russian operations of Halliburton Company (NYSE:HAL) in May 2022.

Russia-based management team completed the acquisition of Russian operations of Halliburton Company (NYSE:HAL) for $350 million on September 8, 2022. Russian operations of Halliburton Company will operate under the name BurService LLC, which is independent from Halliburton.