Key Takeaways
- Halliburton said it has and will continue to incur costs related to a cyberattack in August.
- The oilfield services provider explained the hacker gained access to certain of its systems that has caused disruptions for its operations and corporate functions.
- Halliburton warned while the hack hasn’t caused significant financial or operational impacts, it remains subject to certain risks from the incident.
Shares of Halliburton (HAL) declined Tuesday after the biggest oilfield services provider warned it is facing financial losses from a cyberattack last month.
In a securities filing, Halliburton said it became aware on August 21 that “an unauthorized third party gained access to certain of its systems,” and that the hack “has caused disruptions and limitation of access to portions of the Company’s business applications supporting aspects of the Company’s operations and corporate functions.”
Attacker ‘Accessed and Exfiltrated Information’ From Halliburton’s Systems
It added that the attacker “accessed and exfiltrated information from the Company’s systems,” and that Halliburton was evaluating the nature and scope of what was breached and what notifications might be needed.
The company explained that it “has incurred, and may continue to incur, certain expenses related to its response to this incident.” Halliburton noted that as of now, the attack hasn’t materially affected its financial condition or results of operations. However, it pointed out that the firm “remains subject to various risks” because of the hack.
Halliburton shares slumped nearly 4% in early afternoon trading to $29.92, their lowest level in more than a year.