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Halliburton (HAL) With TechnipFMC Launches Odassea Technology
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Halliburton Company (HAL - Free Report) together with TechnipFMC (FTI - Free Report) has launched Odassea, the first distributed acoustic sensing solution for subsea wells. This technology is said to improve seismic imaging and reservoir diagnostics while reducing costs and improving the data gathered for oil and natural reservoirs below the sea floor.
Oilfield services giant Halliburton will be responsible for the fiber optic sensing technology, completions and analysis for reservoir diagnostics while TechnipFMC will cater to the optical connectivity from the topside to the completions.
The collaboration will reportedly combine hardware with digital systems, which in turn, will reinforce digital resources in facilitating subsea reservoir monitoring and production optimisation. Further, this technology enables operators to accelerate full-field subsea fiber optic sensing, design and execution.
Per Trey Clark, vice president, Halliburton’s wireline and perforating business, the company is keen to set up a new technology platform, which will allow customers to observe reservoir performance in real time. Management at this Houston, TX-based company believes that by teaming up with TechnipFMC, it can utilize the combined subsurface and subsea capabilities to provide differentiated products for the marketplace that will create value for customers.
About the Company
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 in more than 80 countries. Founded in 1919, Halliburton employs in excess of 60,000 people and operates under two main segments, namely Completion and Production, and Drilling and Evaluation.
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Halliburton (HAL) With TechnipFMC Launches Odassea Technology
Halliburton Company (HAL - Free Report) together with TechnipFMC (FTI - Free Report) has launched Odassea, the first distributed acoustic sensing solution for subsea wells. This technology is said to improve seismic imaging and reservoir diagnostics while reducing costs and improving the data gathered for oil and natural reservoirs below the sea floor.
Oilfield services giant Halliburton will be responsible for the fiber optic sensing technology, completions and analysis for reservoir diagnostics while TechnipFMC will cater to the optical connectivity from the topside to the completions.
The collaboration will reportedly combine hardware with digital systems, which in turn, will reinforce digital resources in facilitating subsea reservoir monitoring and production optimisation. Further, this technology enables operators to accelerate full-field subsea fiber optic sensing, design and execution.
Per Trey Clark, vice president, Halliburton’s wireline and perforating business, the company is keen to set up a new technology platform, which will allow customers to observe reservoir performance in real time. Management at this Houston, TX-based company believes that by teaming up with TechnipFMC, it can utilize the combined subsurface and subsea capabilities to provide differentiated products for the marketplace that will create value for customers.
About the Company
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 in more than 80 countries. Founded in 1919, Halliburton employs in excess of 60,000 people and operates under two main segments, namely Completion and Production, and Drilling and Evaluation.
Zacks Rank & Stocks to Consider
Halliburton currently has a Zacks Rank #3 (Hold). Some better-ranked stocks in the energy sector are Core Laboratories NV (CLB - Free Report) and RPC Inc (RES - Free Report) , each presently carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Today's Best Stocks from Zacks
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This outperformance has not just been a recent phenomenon. From 2000 – 2019, while the S&P averaged +6.0% per year, our top strategies averaged up to +54.7% per year.
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