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Halliburton Launches Fully Automated Hydraulic Fracturing Service
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Halliburton Company (HAL - Free Report) has launched the Octiv Auto Frac service, which is the latest addition to its Octiv Intelligent Fracturing Platform. The company stated that the innovative solution is intended to revolutionize the frac process. This service has been engineered for the automation and digitization of workflows, equipment management and information handling across all key parts of the fracturing process. Halliburton also mentioned that the service is expected to improve efficiency and safety in frac operations for its customers as well as the company.
Halliburton's Octiv Auto Frac Service
HAL’s Octiv Auto Frac service is a first-of-its-kind to offer an automated fracture operating service to its customers. This implies that for the first time, customers will be able to implement fracture design without any human intervention. This technology can make numerous decisions automatedly while pumping. It will do so on the basis of the customer-specific job designs and pre-job control inputs provided to the system. The technology can constantly adjust its responses according to the dynamic conditions encountered during the process.
Enhanced Precision and Consistency With ZEUS and Sensori
The Octiv Auto Frac, when used together with the ZEUS platform and the Sensori service, eliminates variability during job execution, thereby delivering more consistent and precise results. By reducing inconsistency, this further reduces the overall ownership cost for customers. Halliburton highlights that the automated technologies used in hydraulic fracturing operations enable it to deliver extremely precise well pad results. By leveraging intelligent automation, the company believes that it can turn the concept of a digital frac site into a reality.
PEDEVCO is engaged in the acquisition and development of energy assets in the United States and Pacific Rim countries. PED stands to benefit significantly from its holdings in the Permian Basin, one of the most prolific oil-producing regions in the United States, as well as in the D-J Basin in Colorado, which includes more than 150 high-quality drilling locations. Combined with bullish oil prices, this is expected to boost the company's production and overall profitability.
TechnipFMC is a leading manufacturer and supplier of products, services and fully integrated technology solutions for the energy industry. The company’s total backlog witnessed a record high of $13.9 million in the second quarter of 2024, indicating a year-over-year increase of 4.51%. This growing backlog ensures strong revenue growth for FTI.
VAALCO Energy is an independent energy company involved in upstream business operationswith a diversified presence in Africa and Canada. Having a large inventory of drilling locations in premium Acreage of Canada, EGY’s production outlook seems bright.
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Halliburton Launches Fully Automated Hydraulic Fracturing Service
Halliburton Company (HAL - Free Report) has launched the Octiv Auto Frac service, which is the latest addition to its Octiv Intelligent Fracturing Platform. The company stated that the innovative solution is intended to revolutionize the frac process. This service has been engineered for the automation and digitization of workflows, equipment management and information handling across all key parts of the fracturing process. Halliburton also mentioned that the service is expected to improve efficiency and safety in frac operations for its customers as well as the company.
Halliburton's Octiv Auto Frac Service
HAL’s Octiv Auto Frac service is a first-of-its-kind to offer an automated fracture operating service to its customers. This implies that for the first time, customers will be able to implement fracture design without any human intervention. This technology can make numerous decisions automatedly while pumping. It will do so on the basis of the customer-specific job designs and pre-job control inputs provided to the system. The technology can constantly adjust its responses according to the dynamic conditions encountered during the process.
Enhanced Precision and Consistency With ZEUS and Sensori
The Octiv Auto Frac, when used together with the ZEUS platform and the Sensori service, eliminates variability during job execution, thereby delivering more consistent and precise results. By reducing inconsistency, this further reduces the overall ownership cost for customers. Halliburton highlights that the automated technologies used in hydraulic fracturing operations enable it to deliver extremely precise well pad results. By leveraging intelligent automation, the company believes that it can turn the concept of a digital frac site into a reality.
HAL's Zacks Rank and Key Picks
Currently, HAL carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the energy sector are PEDEVCO Corp. (PED - Free Report) ,TechnipFMC (FTI - Free Report) and VAALCO Energy (EGY - Free Report) . PEDEVCO presently sports a Zacks Rank #1 (Strong Buy), while TechnipFMC and VAALCO Energy carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.
PEDEVCO is engaged in the acquisition and development of energy assets in the United States and Pacific Rim countries. PED stands to benefit significantly from its holdings in the Permian Basin, one of the most prolific oil-producing regions in the United States, as well as in the D-J Basin in Colorado, which includes more than 150 high-quality drilling locations. Combined with bullish oil prices, this is expected to boost the company's production and overall profitability.
TechnipFMC is a leading manufacturer and supplier of products, services and fully integrated technology solutions for the energy industry. The company’s total backlog witnessed a record high of $13.9 million in the second quarter of 2024, indicating a year-over-year increase of 4.51%. This growing backlog ensures strong revenue growth for FTI.
VAALCO Energy is an independent energy company involved in upstream business operationswith a diversified presence in Africa and Canada. Having a large inventory of drilling locations in premium Acreage of Canada, EGY’s production outlook seems bright.