Halliburton Company (HAL) announced a strategic collaboration with the Libra Consortium (last week), led by Petrobras PBR, to pioneer the development of a digital twin for the pre-salt field system in Brazil. The project aims to enhance operational efficiency, optimize system settings and ultimately maximize production in the Mero unitized field.
According to HAL, a digital twin is a virtual replica of a physical asset that accurately mimics its behavior and attributes. By utilizing this technology, the Libra Consortium aims to streamline decision-making processes and enhance operational predictability in the quest for optimal field development.
The partnership between Halliburton and Libra Consortium will focus on creating an integrated and dynamic digital twin of the entire production system, encompassing the reservoir, wells and subsea network.By combining asset sensors, data, and models such as 4D seismic and smart completions, operators will have a real-time view of the reservoir, wells and facilities. This comprehensive approach will enable operators to run "what if" scenarios, improving decision-making processes and ensuring optimal field development.
Nagaraj Srinivasan, senior vice president of Landmark, Halliburton Digital Solutions, and Consulting, emphasized the significance of this collaboration, stating that the Mero unitized field digital twin reiterates Landmark's leadership in leveraging E&P cloud and digital solutions to revolutionize reservoir performance and asset optimization. This dynamic system will empower the consortium with comprehensive, continuous insights around optimization opportunities, cost reduction potential and uncertainty mitigation throughout the asset lifecycle.
Zacks Rank & Key Picks
Currently, Halliburton carries a Zack Rank #3 (Hold).
A couple of better-ranked stocks in the energy sector are The Williams Companies, Inc. WMB and EOG Resources, Inc. EOG. While Williams Companies sports a Zacks Rank #1 (Strong Buy), EOG Resources carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Williams Companies is well-positioned to capitalize on the anticipated substantial long-term growth in U.S. natural gas demand, thanks to its impressive portfolio of large-scale projects that create significant value. The company’s debt maturity profile is in good shape with its $4.5 billion revolver maturing in fiscal 2023.
WMB’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 13.68%.
EOG Resources is an energy exploration and production company with an attractive growth profile, upper-quartile returns and a disciplined management team. With highly productive acreages in premier oil shale plays like the Permian and Eagle Ford, the company has numerous untapped high-quality drilling sites.
EOG’s earnings beat estimates in three of the trailing four quarters and missed once, delivering an average surprise of 9.17%.
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