Halliburton settles patent litigation

Halliburton has settled all ongoing patent disputes with ReedHycalog UK Ltd., Grant Prideco Inc., ReedHycalog LP, and National OilWell Varco, involving each other's products.

Offshore staff

HOUSTON -- Halliburton has settled all ongoing patent disputes with ReedHycalog UK Ltd., Grant Prideco Inc., ReedHycalog LP, and National OilWell Varco, involving each other's products.

The settlement agreement includes a $30 million payment to ReedHycalog as well as ongoing royalties and a cross-licensing agreement that allows the parties to continue using the products involved in the dispute.

06/23/2008

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