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Halliburton (HAL) Acquires Resoptima to Optimize DecisionSpace
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Halliburton Company (HAL - Free Report) announced the acquisition of Resoptima AS, a Norway-based technology major that offers data-driven reservoir management solutions to customers in the oil and gas industry. With the use of these solutions, operators may use data for reservoir understanding, boosting efficiency in oil extraction, resource management and risk alleviation.
Developed with feedback from several clients, Resoptima's software was introduced in 2013. By avoiding expensive errors like poor well drilling and needless injection volumes, the technology helps boost reservoir recovery factors and delivers cost savings on reservoir intervention projects.
HAL stated that it has used its solutions at more than 130 active fields across the globe to increase production output, forecasts, and thorough evaluations of uncertainties and risks. As a result of this acquisition, Resoptima's reservoir modeling and predictive analytics, which are among the best in the industry, will be included in the Halliburton Landmark DecisionSpace 365 package.
Open Subsurface Data Universe (OSDU Data Platform) hosts the DecisionSpace 365 software as a service. It is intended to provide low latency, high throughput and self-cleaning solutions for integrating huge amounts of data into the OSDU Data Platform from a number of sources.
According to HAL, the DecisionSpace 365 and Resoptima solutions will have open architectures and interoperability with third-party software.
According to Nagaraj Srinivasan, Landmark, Halliburton Digital Solutions and Consulting senior vice-president, the combination of Resoptima's best-in-class reservoir engineering and science with Landmark's leadership in geology and drilling allows Halliburton to offer unique and innovative solutions that enhance exploration success and reservoir recovery.
According to Atila Mellilo, the former CEO of Resoptima, the unified ensemble modeling strategy with Halliburton and Landmark will help foster innovation, provide increasing value to clients and broaden the company’s market reach.
Zacks Rank & Key Picks
Currently, Halliburton carries a Zack Rank #3 (Hold).
Sunoco, a distributor of motor fuel to approximately 10,000 convenience stores, has a stable business model with sustainable and predictable cash flows. For this year, SUN has witnessed an upward earnings estimate revision in the past 30 days.
Eni SpA is a leading integrated energy major, which operates primarily through three business segments —Exploration & Production (E&P), Gas & Power, and Refining & Marketing and Chemicals. E has witnessed an upward earnings estimate revision for 2023 and 2024, in the past 30 days.
RGC Resources is a holding company that offers energy and associated products and services through its operational subsidiaries —Roanoke Gas Company and RGC Midstream, LLC. RGCO has thousands of customers through its natural gas distribution companies that serve the Roanoke Valley and Bluefield, Virginia and West Virginia areas. For this year, the company has witnessed an upward earnings estimate revision in the past 30 days.
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Halliburton (HAL) Acquires Resoptima to Optimize DecisionSpace
Halliburton Company (HAL - Free Report) announced the acquisition of Resoptima AS, a Norway-based technology major that offers data-driven reservoir management solutions to customers in the oil and gas industry. With the use of these solutions, operators may use data for reservoir understanding, boosting efficiency in oil extraction, resource management and risk alleviation.
Developed with feedback from several clients, Resoptima's software was introduced in 2013. By avoiding expensive errors like poor well drilling and needless injection volumes, the technology helps boost reservoir recovery factors and delivers cost savings on reservoir intervention projects.
HAL stated that it has used its solutions at more than 130 active fields across the globe to increase production output, forecasts, and thorough evaluations of uncertainties and risks. As a result of this acquisition, Resoptima's reservoir modeling and predictive analytics, which are among the best in the industry, will be included in the Halliburton Landmark DecisionSpace 365 package.
Open Subsurface Data Universe (OSDU Data Platform) hosts the DecisionSpace 365 software as a service. It is intended to provide low latency, high throughput and self-cleaning solutions for integrating huge amounts of data into the OSDU Data Platform from a number of sources.
According to HAL, the DecisionSpace 365 and Resoptima solutions will have open architectures and interoperability with third-party software.
According to Nagaraj Srinivasan, Landmark, Halliburton Digital Solutions and Consulting senior vice-president, the combination of Resoptima's best-in-class reservoir engineering and science with Landmark's leadership in geology and drilling allows Halliburton to offer unique and innovative solutions that enhance exploration success and reservoir recovery.
According to Atila Mellilo, the former CEO of Resoptima, the unified ensemble modeling strategy with Halliburton and Landmark will help foster innovation, provide increasing value to clients and broaden the company’s market reach.
Zacks Rank & Key Picks
Currently, Halliburton carries a Zack Rank #3 (Hold).
Some better-ranked stocks for investors interested in the energy sector are Sunoco LP (SUN - Free Report) , Eni SpA(E - Free Report) and RGC Resources Inc. (RGCO - Free Report) . While Sunoco sports a Zacks Rank #1 (Strong Buy), both RGC Resources and Eni carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1Rank stocks here.
Sunoco, a distributor of motor fuel to approximately 10,000 convenience stores, has a stable business model with sustainable and predictable cash flows. For this year, SUN has witnessed an upward earnings estimate revision in the past 30 days.
Eni SpA is a leading integrated energy major, which operates primarily through three business segments —Exploration & Production (E&P), Gas & Power, and Refining & Marketing and Chemicals. E has witnessed an upward earnings estimate revision for 2023 and 2024, in the past 30 days.
RGC Resources is a holding company that offers energy and associated products and services through its operational subsidiaries —Roanoke Gas Company and RGC Midstream, LLC. RGCO has thousands of customers through its natural gas distribution companies that serve the Roanoke Valley and Bluefield, Virginia and West Virginia areas. For this year, the company has witnessed an upward earnings estimate revision in the past 30 days.