Halliburton (HAL) & Nabors Join Forces for Well Construction
Halliburton Company (HAL) and Nabors Industries NBR announced an agreement on leading well construction automation solutions. This partnership aims at revolutionizing the field of well construction by introducing cutting-edge technologies that enhance rig capabilities, lower well construction costs and reduce operational risks.
The Collaboration
Per the agreement, Halliburton and Nabors will combine their respective technologies to create an unparalleled suite of well construction automation solutions.
Halliburton Well Construction 4.0
Halliburton's Well Construction 4.0 uses digital surface and subsurface drilling technologies that provide comprehensive automation, from planning to execution. By leveraging advanced digital capabilities, this platform streamlines the well construction process, thereby enhancing efficiency and reliability.
LOGIX Autonomous Drilling Platform
The LOGIX Autonomous Drilling Platform further strengthens the collaboration between Halliburton and Nabors. This innovative platform conducts automated drilling operations, increasing operational accuracy and reducing the need for manual intervention.
Nabors SmartROS and RigCLOUD
Nabors contributes its expertise through two platforms — the SmartROS universal rig controls and automation platform, and the RigCLOUD high-performance digital infrastructure platform. These technologies offer unified control and automation capabilities, enabling seamless integration with Halliburton's solutions.
Automating Well Construction Services
Halliburton and Nabors are spearheading the automation of well construction services and initially deploying these technologies in Iraq. This deployment signifies a significant step toward optimizing well construction processes (both below and above the surface), including subsurface and surface equipment and environments.
The collaboration aims at streamlining the entire well construction process, from planning to execution. This will help customers achieve consistent outcomes while reducing costs and operational risks. By automating critical processes, Halliburton and Nabors are set to revolutionize the Oil & Gas Equipment & Services industry.
Future Expansion and Global Opportunities
With the successful deployment of their technologies in Iraq, both companies are eager to expand their projects to customers worldwide.
Zacks Rank and Key Picks
Currently, HAL carries a Zacks Rank #3 (Hold) and NBR has a Zacks Rank #4 (Sell).
A couple of better-ranked stocks for investors interested in the energy sector are Evolution Petroleum EPM and Eni E, each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Evolution Petroleum is worth approximately $280.79 million. EPM currently pays a dividend of 48 cents per share, or 5.69% on an annual basis.
The company currently has a forward P/E ratio of 7.64. In comparison, its industry has an average forward P/E of 19.90, which means EPM is trading at a discount to the group.
Eni is valued at around $50.77 billion. In the past year, its shares have risen 18.5%.
E currently pays dividends of $1.29 per share, or 4.52% on an annual basis. E's payout ratio currently sits at 21% of earnings.
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Halliburton Company (HAL) : Free Stock Analysis Report
Nabors Industries Ltd. (NBR) : Free Stock Analysis Report
Eni SpA (E) : Free Stock Analysis Report
Evolution Petroleum Corporation, Inc. (EPM) : Free Stock Analysis Report
