Leading oilfield service provider
) - together with
) and U.S. energy firm
) have joined hands for developing dual-fuel technology mainly to
provide power to the pumping equipment used for hydraulic
fracturing purposes. The innovative technology uses a mixture of
natural gas and diesel, of which the usage of natural gas is the
maximum. The system also emits low carbon dioxide due to the
maximum natural gas usage by keeping the fuel efficiency and
power at par with the diesel engine.
The development utilizes 12 pumps of 24,000 horsepower capacity
and is among the largest scale dual-fuel projects in the oil and
Halliburton along with Caterpillar - a producer of mining and
construction equipment, have worked together to equip
Halliburton's new and most versatile Q10 pumps with the dual-fuel
Houston, Texas-based Halliburton 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
under two main segments, namely Completion and Production, and
Drilling and Evaluation.
Halliburton currently retains a Zacks Rank #3 (Hold), implying
that it is expected to perform in line with the broader U.S.
equity market over the next one to three months.
Despite certain issues in North America - characterized by
depressed natural gas fundamentals and cost inflation - the
long-term prospects for the company's business remain robust.
Halliburton is among the top three players in each of its
product/service categories and is present in all major
hydrocarbon-producing regions of the world and also enjoys strong
relationships with both publicly-traded and national oil
On the flip side, the North American land rig count may plateau
in the near future as growth in highly-productive horizontal
drilling has led to a natural gas supply overhang and relatively
weak natural gas prices in the U.S. market. This is likely to be
only partially offset by the continued growth of oil- and
liquids-rich reservoirs. A slowdown in U.S. land drilling is
expected impair Halliburton's business.
APACHE CORP (APA): Free Stock Analysis Report
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HALLIBURTON CO (HAL): Free Stock Analysis
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