The US$36 million includes the US$24 million in damages awarded by a Federal Jury and US$5 million in legal fees and pre-judgement interest.

In a statement Smith said, “Halliburton had alleged that software Smith used to design drill bits infringed on certain Halliburton patents [and] the judge, ruling in the US District Court for the Eastern District of Texas, Sherman Division, also entered an injunction prohibiting Smith from future infringement of the patents in question.”

“[We continue] to believe the judge’s decision is incorrect, and intend to vigorously pursue all options, including a settlement with Halliburton,” it added.

Halliburton did not comment on the matter.