Halliburton Stock Price, News & Analysis

Halliburton Company (NYSE: HAL) and TGS-NOPEC Geophysical ASA (OSLO:TGS) have formed a collaboration to enhance seismic imaging through fiber optic sensing. This partnership combines Halliburton's FiberVSP™ and Odassea™ technologies with TGS's advanced seismic workflows, offering real-time monitoring capabilities for oil and gas production and carbon storage. Both companies aim to deliver a cost-effective solution that improves reservoir understanding. Ongoing projects will utilize this integrated approach for comprehensive reservoir monitoring.

Halliburton Company (NYSE: HAL) has awarded three multimillion-dollar educational software grants to Algerian public universities to train future oil and gas engineers. The universities benefiting from these grants include USTHB, UMBB, and UKMO. The three-year licenses grant students and faculty access to Landmark’s DecisionSpace® software, enhancing hands-on learning in geosciences, drilling, and data management. This initiative underscores Halliburton's commitment to developing local talent and employment in Algeria.

Halliburton Company (NYSE: HAL) reported a net income of $170 million or $0.19 per diluted share for Q1 2021, reversing a net loss of $235 million in Q4 2020. Revenue reached $3.5 billion, a 7% increase from the previous quarter. Operating income stood at $370 million, up from a loss of $96 million. North America saw a 13% revenue increase, driven by higher drilling-related services. International revenue increased by 2%. Halliburton also introduced innovative technologies aimed at enhancing operational efficiency and signed contracts for digital transformation projects in Kuwait and Norway.

U.S. Well Services (Nasdaq: USWS) has filed a patent infringement lawsuit against Halliburton (NYSE: HAL) and Cimarex Energy (NYSE: XEC) in the U.S. District Court for the Western District of Texas. The complaint alleges infringement on multiple patents, particularly focusing on electric hydraulic fracturing technologies. U.S. Well Services holds a robust portfolio with 42 granted patents, 4 allowed, and 185 pending. CEO Joel Broussard emphasized the critical importance of defending their intellectual property to maintain a competitive edge in the hydraulic fracturing market.

Halliburton Company (NYSE: HAL) has signed an eight-year contract with the Norwegian Petroleum Directorate (NPD) to manage Diskos, Norway's national repository of oil and gas seismic, well, and production data. The project will utilize Diskos 2.0, built on DecisionSpace® 365 cloud services, enabling efficient data access and analysis. This collaborative effort aims to enhance reservoir recovery and exploration outcomes through machine learning and artificial intelligence, ultimately maximizing asset value in the region.

Halliburton Company (NYSE: HAL) has partnered with Optime Subsea to enhance its completion landing string services with innovative subsea technology. This global alliance will utilize Optime's Remotely Operated Controls System (ROCS) and Subsea Controls and Intervention Light System (SCILS) to improve operational efficiencies and safety risk mitigation in deepwater completions. The collaboration aims to deliver umbilical-less operations, providing a cost-efficient solution for customers while reducing the operational footprint and setup time.

Halliburton Company (NYSE: HAL) announced a breakthrough in the Permian Basin with its SmartFleet™ intelligent fracturing system, achieving real-time control of fracture placement on a multi-well pad. This system leverages automation and subsurface measurements, improving fracture performance and completion execution. Major enhancements include reduced fluid usage per stage, longer stage lengths, and a 20% improvement in uniform treatment placement compared to traditional methods. This innovation aims to optimize costs and performance, enhancing asset economics in the energy sector.

Halliburton Labs has opened applications for its accelerator program targeting early-stage clean energy firms, with the deadline set for April 23, 2021. The program aims to support technology entrepreneurs in energy generation, storage, and sustainability, providing resources like technical expertise and a global business network. Selected applicants will pitch for a place in the program during the Halliburton Labs Finalist Pitch Day on May 21, 2021, part of the Houston Tech Rodeo. Halliburton Labs offers a collaborative environment to advance cleaner, affordable energy solutions.

Halliburton Company (NYSE: HAL) will host a conference call on April 21, 2021, at 8:00 AM CT to discuss its Q1 2021 financial results. A press release detailing the earnings will be issued before the call. Investors can listen to the call via live webcast on the company’s website or dial in to participate. A replay will be available until April 28, 2021. Founded in 1919, Halliburton provides a wide range of products and services to the energy industry with operations in over 70 countries.