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Halliburton (HAL), TGS Team Up for Reservoir Monitoring Tech
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Halliburton Company (HAL - Free Report) announced that it collaborated with TGS-NOPEC Geophysical ASA to bring advanced seismic imaging to fiber optic sensing with the intent of encouraging oil and gas companies to increase production and explore carbon storage options.
Norway-based TGS is actively engaged in providing global geo-scientific data products and services to the energy industry in all phases of exploration and production. The company also provides specialized services such as advanced processing and analytics alongside cloud-based data applications and solutions.
Per the deal, Halliburton FiberVSP service and Odassea distributed acoustic sensing solution will combine TGS’s seismic imaging workflows, which process the seismic wavefield entirely to produce reservoir images of high accuracy. The technology platforms allow operators to carry out seismic imaging and reservoir diagnostics without any inventions to reduce overall expenses, while improving reservoir knowledge for customers.
Halliburton can now enable real-time monitoring of production across an entire field by allowing its customers to make optimal decisions and increase ultimate recovery. For TGS, the alliance would help attain its goals of focusing more on technology and mature basins, capturing more repeatable business, and delivering affordable new energy solutions such as carbon storage monitoring.
Notably, work is being conducted to deliver the combined solution to multiple onshore and offshore reservoir monitoring projects. The collaboration will provide operators with advanced insights to identify reservoir potential for the production of oil and gas as well as carbon storage.
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 30.2% compared with the industry’s 22.7% growth.
Zacks Rank & Stocks to Consider
The company currently carries a Zack Rank #3 (Hold).
Some better-ranked players in the energy space are Extraction Oil & Gas, Inc. , currently flaunting a Zacks Rank #1 (Strong Buy), and TOTAL SE and Hess Midstream Partners LP (HESM - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Over the past 60 days, the Zacks Consensus Estimate for Extraction’s 2021 earnings has been raised by 235.5%.
TOTAL’s earnings for 2021 are expected to increase 10% year over year.
Hess’ earnings for 2021 are expected to rise 8% year over year.
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Halliburton (HAL), TGS Team Up for Reservoir Monitoring Tech
Halliburton Company (HAL - Free Report) announced that it collaborated with TGS-NOPEC Geophysical ASA to bring advanced seismic imaging to fiber optic sensing with the intent of encouraging oil and gas companies to increase production and explore carbon storage options.
Norway-based TGS is actively engaged in providing global geo-scientific data products and services to the energy industry in all phases of exploration and production. The company also provides specialized services such as advanced processing and analytics alongside cloud-based data applications and solutions.
Per the deal, Halliburton FiberVSP service and Odassea distributed acoustic sensing solution will combine TGS’s seismic imaging workflows, which process the seismic wavefield entirely to produce reservoir images of high accuracy. The technology platforms allow operators to carry out seismic imaging and reservoir diagnostics without any inventions to reduce overall expenses, while improving reservoir knowledge for customers.
Halliburton can now enable real-time monitoring of production across an entire field by allowing its customers to make optimal decisions and increase ultimate recovery. For TGS, the alliance would help attain its goals of focusing more on technology and mature basins, capturing more repeatable business, and delivering affordable new energy solutions such as carbon storage monitoring.
Notably, work is being conducted to deliver the combined solution to multiple onshore and offshore reservoir monitoring projects. The collaboration will provide operators with advanced insights to identify reservoir potential for the production of oil and gas as well as carbon storage.
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 30.2% compared with the industry’s 22.7% growth.
Zacks Rank & Stocks to Consider
The company currently carries a Zack Rank #3 (Hold).
Some better-ranked players in the energy space are Extraction Oil & Gas, Inc. , currently flaunting a Zacks Rank #1 (Strong Buy), and TOTAL SE and Hess Midstream Partners LP (HESM - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Over the past 60 days, the Zacks Consensus Estimate for Extraction’s 2021 earnings has been raised by 235.5%.
TOTAL’s earnings for 2021 are expected to increase 10% year over year.
Hess’ earnings for 2021 are expected to rise 8% year over year.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
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