Halliburton (HAL) to Launch Closed-Loop Fracturing System With Chevron in Colorado

Halliburton Company (NYSE:HAL) is one of the 10 most undervalued oil stocks to buy according to analysts. Halliburton Company (NYSE:HAL) and Chevron Corporation announced on June 12 that they are collaborating together to create a new method that will allow for closed-loop, feedback-driven completions in Colorado. With the help of subsurface input and automated stage execution, this intelligent fracturing technique maximizes energy delivery into the wellbore without the need for human involvement.

To facilitate this new method of intelligent completions, a mix of technology from the wellsite to the cloud is needed. With its OCTIV auto frac and Sensori monitoring, Halliburton’s ZEUS IQ intelligent fracturing platform offers the required closed feedback loop and control capacity. Meanwhile, enhanced decision-making will be made possible by an algorithm that incorporates Chevron’s subsurface understanding and hydraulic fracturing expertise.

A multi-year agreement was also reached on June 10 between Halliburton Company (NYSE:HAL) and Repsol Resources UK, a division of Repsol of Spain, to support the operator’s full well lifecycle on oil and gas assets in the UK area of the North Sea. Halliburton clarified that it will offer subsurface technologies, drilling and completion services, as well as digital solutions for new developments, while highlighting that this agreement allows it to work with Repsol to maximize the UK North Sea’s remaining potential.

Halliburton Company (NYSE:HAL) supplies products and services to the global energy sector. It operates in two segments: Completion & Production and Drilling & Evaluation.

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Read More: 10 Best Magic Formula Stocks for 2025 and 10 Best Retirement Stocks to Buy According to Hedge Funds

Disclosure: None.