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Halliburton Company (HAL - Free Report) and partner VoltaGrid LLC announced the first deployment of an advanced electric fracturing solution on a Marcellus well pad in Bradford County for Chesapeake Energy Corporation (CHK - Free Report) .
The project is the first platform in a multi-year contract with Chesapeake Energy, with more than 140 stages in the Marcellus shale. The project incorporated Halliburton’s all-electric fracturing spread with VoltaGrid’s advanced power generation system.
Halliburton’s all-electric fracturing spread features the latest Zeus electric pumping unit, which is capable of achieving sustained activity at 5,000 hydraulic horsepower. The spread has a newly-designed, large-diameter dual-manifold trailer, which enables Zeus pumps to obtain higher rate capacities, with fewer failure points. With its electric-based powertrain and pump technology, the Zeus pumping unit provides 40% higher performance than conventional pumps.
Chesapeake is the first operator to avail the VoltaGrid system in an electrical fracturing operation. With the help of the VoltaGrid emissions portal, Chesapeake can track and analyze real-time emissions and carbon intensity during the completion operation to maximize energy efficiency and lower emissions. The exceptional results of the VoltaGrid system allowed Chesapeake to rapidly increase power generation to serve the high-intermittent demand of a modern termination design.
Chesapeake credited the two technologies for reducing emissions and generating additional fuel savings. The high-performance solution reduced Chesapeake’s operating emissions in the Marcellus shale by 32% and applied more than 25 megawatts of lower-carbon power generation by utilizing its local field gas network. With the project, the company took a step forward to leading a responsible energy future as it continues on the path to achieving net-zero direct emissions.
Company Profile & Price Performance
Headquartered in Houston, TX, Halliburton is one of the largest oilfield service providers.
Shares of the company have underperformed the industry in the past six months. Its stock has gained 2.3% compared with the industry’s 8.3% growth.
Image Source: Zacks Investment Research
Zacks Rank & Stocks to Consider
The company currently carries a Zack Rank #3 (Hold).
Image: Bigstock
Halliburton (HAL) Announces Advanced E-Frac Solution Deployment
Halliburton Company (HAL - Free Report) and partner VoltaGrid LLC announced the first deployment of an advanced electric fracturing solution on a Marcellus well pad in Bradford County for Chesapeake Energy Corporation (CHK - Free Report) .
The project is the first platform in a multi-year contract with Chesapeake Energy, with more than 140 stages in the Marcellus shale. The project incorporated Halliburton’s all-electric fracturing spread with VoltaGrid’s advanced power generation system.
Halliburton’s all-electric fracturing spread features the latest Zeus electric pumping unit, which is capable of achieving sustained activity at 5,000 hydraulic horsepower. The spread has a newly-designed, large-diameter dual-manifold trailer, which enables Zeus pumps to obtain higher rate capacities, with fewer failure points. With its electric-based powertrain and pump technology, the Zeus pumping unit provides 40% higher performance than conventional pumps.
Chesapeake is the first operator to avail the VoltaGrid system in an electrical fracturing operation. With the help of the VoltaGrid emissions portal, Chesapeake can track and analyze real-time emissions and carbon intensity during the completion operation to maximize energy efficiency and lower emissions. The exceptional results of the VoltaGrid system allowed Chesapeake to rapidly increase power generation to serve the high-intermittent demand of a modern termination design.
Chesapeake credited the two technologies for reducing emissions and generating additional fuel savings. The high-performance solution reduced Chesapeake’s operating emissions in the Marcellus shale by 32% and applied more than 25 megawatts of lower-carbon power generation by utilizing its local field gas network. With the project, the company took a step forward to leading a responsible energy future as it continues on the path to achieving net-zero direct emissions.
Company Profile & Price Performance
Headquartered in Houston, TX, Halliburton is one of the largest oilfield service providers.
Shares of the company have underperformed the industry in the past six months. Its stock has gained 2.3% compared with the industry’s 8.3% growth.
Image Source: Zacks Investment Research
Zacks Rank & Stocks to Consider
The company currently carries a Zack Rank #3 (Hold).
Some better-ranked players in the energy space are Earthstone Energy, Inc. and Northern Oil and Gas, Inc. (NOG - Free Report) , each currently flaunting a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Earthstone’s earnings for 2021 are expected to rise 40.6% year over year.
Northern’s earnings for 2021 are expected to increase 44.4% year over year.