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Halliburton (HAL) Opens Saudi Chemical Reaction Facility
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Houston, TX-based oil company, Halliburton (HAL - Free Report) , announced that it opened the first of its kind facility named the Halliburton Chemical Reaction Plant in Saudi Arabia to produce an extensive range of chemicals for the entire oil and gas value chain along with various other industries. This plant further grows Halliburton’s manufacturing portfolio and footprint in the Eastern Hemisphere and advances its capabilities of handling chemical requirements of the Middle East customers.
In addition to manufacturing, the facility also allows Halliburton to magnify its specialty chemicals research and applications for oilfield stimulation and production. Furthermore, HAL will now be able to better serve the area’s industrial water and process treatment markets, which include refineries, petrochemical plants and other heavy industrial operations.
Jeff Miller, chairman, president and CEO of Halliburton, mentioned the excitement on the completion of this major investment. “This world-class plant is part of our more than $1 billion commitment to Saudi Arabia over the past ten years. It further increases our in-country presence and supports the In Kingdom Total Value Add program by providing new opportunities to local suppliers, vendors, other manufacturing partners, and the local workforce,” he added.
Sadara Chemical CEO, Dr. Faisal Al-Faqeer stated the importance of projects, like the Halliburton Chemical Reaction Plant, as well as many upcoming ones, in helping realize the Kingdom’s Downstream Initiative, along with combining global expertise with the special chemicals that his company produces, for the benefit of local, regional and global markets.
Located at the PlasChem Park in Jubail, this facility unlocks contract manufacturing and tolling opportunities, which will support Saudi agriculture, mining, personal care and other industries. This plant furthers HAL’s rising presence and commitment to deliver superior research and development and technical solutions to the local market.
Halliburton Company is one of the largest oilfield service providers in the world, offering a variety of equipment, maintenance, and engineering and construction services to the energy, industrial and government sectors. The company operates in more than 80 countries. Founded in 1919, Halliburton employs more than 40,000 people and operates under two main segments: Completion and Production, and Drilling and Evaluation.
Halliburton currently has a Zacks Rank #3 (Hold). Some better-ranked stocks from the energy space that warrant a look include Enerplus Corporation , Valero Energy (VLO - Free Report) and SM Energy (SM - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Enerplus’ 2022 earnings has been revised 25.9% upward over the past 60 days.
Enerplus stock has rallied 175.1% in a year. The Zacks Consensus Estimate for ERF’s 2022 earnings is pegged at $2.48 per share, up 155.7% from the projected year-ago earnings of 97 cents.
The Zacks Consensus Estimate for Valero’s 2022 earnings is projected at $7.11 per share, up about 153% from the projected year-ago earnings of $2.81.
Valero beat the Zacks Consensus Estimate for earnings in all the trailing four quarters, the average being around 75.7%. VLO is valued at around $37 billion.
The Zacks Consensus Estimate for SM Energy’s 2022 earnings is projected at $6.62 per share, up about 257.8% from the projected year-ago earnings of $1.85.
SM Energy beat the Zacks Consensus Estimate for earnings in all the trailing four quarters, the average being around 153.9%. SM stock has gone up 150.2% in a year.
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Halliburton (HAL) Opens Saudi Chemical Reaction Facility
Houston, TX-based oil company, Halliburton (HAL - Free Report) , announced that it opened the first of its kind facility named the Halliburton Chemical Reaction Plant in Saudi Arabia to produce an extensive range of chemicals for the entire oil and gas value chain along with various other industries. This plant further grows Halliburton’s manufacturing portfolio and footprint in the Eastern Hemisphere and advances its capabilities of handling chemical requirements of the Middle East customers.
In addition to manufacturing, the facility also allows Halliburton to magnify its specialty chemicals research and applications for oilfield stimulation and production. Furthermore, HAL will now be able to better serve the area’s industrial water and process treatment markets, which include refineries, petrochemical plants and other heavy industrial operations.
Jeff Miller, chairman, president and CEO of Halliburton, mentioned the excitement on the completion of this major investment. “This world-class plant is part of our more than $1 billion commitment to Saudi Arabia over the past ten years. It further increases our in-country presence and supports the In Kingdom Total Value Add program by providing new opportunities to local suppliers, vendors, other manufacturing partners, and the local workforce,” he added.
Sadara Chemical CEO, Dr. Faisal Al-Faqeer stated the importance of projects, like the Halliburton Chemical Reaction Plant, as well as many upcoming ones, in helping realize the Kingdom’s Downstream Initiative, along with combining global expertise with the special chemicals that his company produces, for the benefit of local, regional and global markets.
Located at the PlasChem Park in Jubail, this facility unlocks contract manufacturing and tolling opportunities, which will support Saudi agriculture, mining, personal care and other industries. This plant furthers HAL’s rising presence and commitment to deliver superior research and development and technical solutions to the local market.
Halliburton Company is one of the largest oilfield service providers in the world, offering a variety of equipment, maintenance, and engineering and construction services to the energy, industrial and government sectors. The company operates in more than 80 countries. Founded in 1919, Halliburton employs more than 40,000 people and operates under two main segments: Completion and Production, and Drilling and Evaluation.
Halliburton currently has a Zacks Rank #3 (Hold). Some better-ranked stocks from the energy space that warrant a look include Enerplus Corporation , Valero Energy (VLO - Free Report) and SM Energy (SM - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Enerplus’ 2022 earnings has been revised 25.9% upward over the past 60 days.
Enerplus stock has rallied 175.1% in a year. The Zacks Consensus Estimate for ERF’s 2022 earnings is pegged at $2.48 per share, up 155.7% from the projected year-ago earnings of 97 cents.
The Zacks Consensus Estimate for Valero’s 2022 earnings is projected at $7.11 per share, up about 153% from the projected year-ago earnings of $2.81.
Valero beat the Zacks Consensus Estimate for earnings in all the trailing four quarters, the average being around 75.7%. VLO is valued at around $37 billion.
The Zacks Consensus Estimate for SM Energy’s 2022 earnings is projected at $6.62 per share, up about 257.8% from the projected year-ago earnings of $1.85.
SM Energy beat the Zacks Consensus Estimate for earnings in all the trailing four quarters, the average being around 153.9%. SM stock has gone up 150.2% in a year.