Oil Price The era of “exponential” growth in the U.S. oil and gas industry is over as most shale firms are returning cash to investors instead of going into debt to drill more, according to Halliburton, the world’s largest fracking services provider. “We’ll see growing investment, but quite frankly, nothing even close to what we saw from 2008 to
Oil Price Halliburton Company (NYSE: HAL), the world’s largest provider of fracking services, reported on Tuesday that adjusted net income for the third quarter more than doubled from the same period last year and expects drilling activity to continue rising in all markets. Halliburton booked a net income of $544 million, or $0.60 per diluted share, for the third quarter of
World Oil (Bloomberg) — Iraq’s cabinet may reactivate a deal with Halliburton Co. to drill wells in a western gas field in Akkas next month, Oil Minister Ihsan Abdul Jabbar told local media. An agreement with Halliburton would enable the oil ministry to get clear data on the production capacity of the Akkas field and it may reach a decision
World Oil Halliburton Company today introduced StrataStar™, a deep azimuthal resistivity service that provides multilayer visualization to maximize well contact with the reservoir and improve real-time reserves evaluation. The StrataStar service is the latest addition to Halliburton’s iStar™ intelligent drilling and logging platform, which combines deep subsurface insights with artificial intelligence for improved drilling performance and consistent well delivery. For more decisive
World Oil HOUSTON (Bloomberg) –Shale-oil companies are using almost all of the frac equipment and crews available as exploration expands, accelerating cost inflation and pointing to worsening supply-chain disruptions across the industry. North American oil drillers appear likely to expand spending by more than 25% this year while overseas explorers are on course for a more modest increase in the
Reuters BENGALURU (Jan 24): Halliburton Co’s fourth-quarter adjusted profit doubled from a year earlier, it said on Monday, beating analysts’ forecasts and prompting the oilfield service company to lift its dividend following a rebound in crude and natural gas prices. US oil prices rose more than 50% last year and have made a strong start to 2022, hovering around US$85
World Oil (Bloomberg) –Halliburton Co. and Exxon Mobil Corp. are in talks over the latter’s attempt to sell a stake in the huge West Qurna-1 oil field in southern Iraq, according to the country’s energy minister. Iraq wants a U.S. partner for Exxon’s stake, Oil Minister Ihsan Abdul Jabbar told reporters in Baghdad. If the talks with Halliburton fail, Iraq
World Oil HOUSTON (Bloomberg) –Halliburton Co., the oil industry’s largest frac services provider, warned that the world is headed into a period of scarcity for oil after seven years of underinvestment following crude’s plummet from $100 a barrel in 2014. “For the first time in a long time, we’ll see a buyer looking for a barrel of oil as opposed
World Oil HOUSTON – Halliburton Company released DS365.ai cloud service to help customers accelerate their digital transformation with intelligent automation. DS365.ai delivers industry specific artificial intelligence (AI) and machine learning (ML) models to enhance productivity, operational efficiency, and increase asset value. DS365.ai runs on the OSDU™ Data Platform and uses the interoperable and scalable architecture of iEnergy® Cloud. This allows
Reuters U.S. oilfield firm Halliburton Co on Tuesday posted its third consecutive quarterly profit and said customer spending in the United States could jump 20% next year, as stronger oil prices and drilling activity boost demand for services and equipment. Oil prices have rallied to multi-year highs with global crude futures climbing 4.5% in the quarter ended Sept. 30, helped
World Oil HOUSTON – Halliburton Company released the iStar Intelligent Drilling and Logging Platform, a comprehensive measurement platform comprising multiple services for greater control of drilling and logging operations. The platform’s digital architecture supports automation, machine learning, and artificial intelligence for reservoir evaluation, faster drilling, and consistent well delivery. The iStar platform acquires high-definition measurements closer to the bit and
World Oil HOUSTON– Halliburton Company and VoltaGrid LLC announced the first successful deployment of an advanced electric fracturing solution. This project is the first pad in a multi-year contract with Chesapeake Energy Corporation with more than 140 stages in the Marcellus. It combines Halliburton’s all-electric fracturing spread featuring the Zeus 5,000 horsepower electric pumping unit with VoltaGrid’s advanced power generation
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