Leading oilfield service provider
) recently opened its newly built Completion Technology and
Manufacturing Center in Singapore. This expansion will help
Halliburton in delivering high-quality products to a wide range
of customers in the Eastern Hemisphere.
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The completion technology of Halliburton provides the design,
selection and provision of equipment and services to optimize
well production. As a result, it facilitates customers to
complete their wells economically.
The newly constructed facility is spread across 43 acres in
Jurong Industrial Park. It includes more than 500,000 square feet
of manufacturing and administrative space. Technology
laboratories and test facilities are also present in the center,
which houses complex processes such as high-alloy material
precision machining, electrode discharge machines, small
deep-hole gun drilling and fully automated high-pressure testing.
The second development phase is underway. This phase comprises
the construction of technology administration building,
workshops, deep-well simulators and
high-pressure/high-temperature testing facilities. It also
includes the completion of a deep horizontal well which will
enable all aspects of engineering testing and simulated systems
With the success of the current manufacturing facility in
Singapore, Halliburton is on an expansion path. It looks forward
to more such opportunities to gain a significant market share
internationally. We believe such accomplishments will garner
profits for Halliburton in the upcoming quarters.
Halliburton carries 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.
Meanwhile, there are other oilfield service providers that offer
value and are worth buying now. These include
China Oilfield Services Limited
Dawson Geophysical Company
). All these companies sport a Zacks Rank #1 (Strong Buy).