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Halliburton (HAL) to Offer Reliable Resource Management Platform

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Halliburton Company (HAL - Free Report) entered an eight-year contract with the Norwegian Petroleum Directorate (“NPD”) to manage and avail Diskos — the national data repository of Norway.

Diskos provides seismic, well, and exploration and production data from the Norwegian Continental Shelf for the oil and gas industry. Notably, NPD contributes to value creation for the Norwegian society through efficient and reliable resource management.

Halliburton Landmark, a wholly-owned business unit of the company, will provide Diskos 2.0 with the help of DecisionSpace 365, which is a cloud-based service for the E&P cloud applications for maximizing asset profitability.

The cloud-based services are Open Subsurface Data Universe compliant that delivers high-grade data, security and governance, thereby, allowing users to easily access, visualize and interpret data from the Norwegian Continental Shelf.

The cloud-based services’ flexibility and open architecture would allow workflows across the repository and operator systems in an on-premise environment or with the cloud for efficient and effective operations.

Using the DecisionSpace 365, Diskos 2.0 will apply machine learning and artificial intelligence to unlock significant value of subsurface data by revealing additional basin, reservoir, drilling and production insights. Notably, this will enhance reservoir recovery and exploration outcomes.

On its part, the contract is in accordance with Halliburton’s digital strategy. Notably, the company’s safe cloud environment, machine learning algorithms, and data science expertise will help operators maximize their asset value.

Company Profile & Price Performance

Headquartered in Houston, TX, Halliburton is one of the largest oilfield service providers.

Shares of the company have outperformed the industry in the past six months. Its stock has gained 65.3% compared with the industry’s 32.2% growth.



Zacks Rank & Other Stocks to Consider

The company currently sports a Zack Rank #1 (Strong Buy).

Some other top-ranked players in the energy space are NATIONAL ENERGY (NESR - Free Report) , Chevron Corporation (CVX - Free Report) and Exxon Mobil Corporation (XOM - Free Report) , each currently flaunting a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.

NATIONAL’s earnings for 2021 are expected to rise 52.6% year over year.

Chevron’s earnings for 2021 are expected to increase 14.6% year over year.

Exxon’s earnings for 2021 are expected to rise 19.4% year over year.

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