We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Halliburton (HAL) Wins Well Completions Contract for HyNet
Read MoreHide Full Article
Halliburton Company (HAL - Free Report) has emerged as a key player in the field of carbon capture and storage (“CCS”) by securing a contract for the HyNet North West project in Liverpool Bay, the United Kingdom. As the first CCS initiative in the country, the HyNet project aims to reduce carbon emissions by capturing carbon dioxide from various industries and storing it in depleted reservoirs beneath Liverpool Bay.
This blog delves into the details of the contract and explores the significance of Halliburton's involvement in this groundbreaking CCS project.
Halliburton's Role in the HyNet Project
Halliburton has been awarded a prestigious contract to provide completions, liners, and monitoring products and services for the CCS system within the HyNet North West project. The company will leverage its expertise and resources to manufacture and deliver the necessary equipment from its completion manufacturing center in Arbroath, the United Kingdom.
HAL will develop innovative well completions and monitoring solutions, specifically tailored to the requirements of the HyNet project. By collaborating with the project stakeholders, the company aims to deliver cutting-edge solutions that contribute to the overall success of this CSS endeavor.
Advancing Carbon Capture and Storage
The HyNet North West project represents a milestone in the United Kingdom's efforts to combat climate change. By adopting advanced CSS techniques, the project will play a vital role in reducing carbon emissions and transitioning toward a cleaner and more sustainable future. Halliburton's participation in this initiative underscores its commitment to environmental stewardship. It also showcases the company’s leadership in CCS projects.
Storing captured carbon dioxide in depleted underground reservoirs (as part of the CSS process) has certain benefits. This not only prevents the release of greenhouse gas into the atmosphere but also enables safe and secure storage of carbon dioxide over the long term.
The Significance of the HyNet Project
Liverpool Bay, with its depleted reservoirs, offers an ideal location for the storage of captured carbon dioxide. It ensures isolation from the atmosphere and minimizes environmental impact.
The successful implementation of the HyNet project will build a platform for future CCS initiatives, both within the United Kingdom and abroad. It serves as a flagship project that demonstrates the viability and effectiveness of CSS as a means to combat climate change and transition toward a low-carbon economy.
Halliburton's Commitment to Sustainability
As a leading provider of oilfield services, Halliburton recognizes the importance of developing innovative solutions that address the challenges of climate change and contribute to a more sustainable future. The company's extensive experience in the energy industry, coupled with its dedication to technological advancements, positions it as a trusted partner in the development and implementation of CSS solutions.
Conclusion
Halliburton's contribution to the HyNet project demonstrates its ability to develop and deliver innovative solutions tailored to the unique requirements of CCS initiatives.
Evolution Petroleum: EPM is worth approximately $265.82 million. EPM currently pays a dividend of 48 cents per share, or 6.01% on an annual basis.
The company currently has a forward P/E ratio of 7.23. In comparison, its industry has an average forward P/E of 18.10, which means EPM is trading at a discount to the group.
Eni SpA: E is valued at around $49.97 billion. In the past year, its shares have risen 7.7%.
E currently pays dividends of $1.29 per share, or 4.60% on an annual basis. E's payout ratio currently sits at 21% of earnings.
Archrock: AROC is valued at around $1.56 billion. It delivered an average earnings surprise of 8.34% for the last four quarters and its current dividend yield is 6.02%.
Archrock is a provider of natural gas contract compression services and aftermarket services of compression equipment.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Halliburton (HAL) Wins Well Completions Contract for HyNet
Halliburton Company (HAL - Free Report) has emerged as a key player in the field of carbon capture and storage (“CCS”) by securing a contract for the HyNet North West project in Liverpool Bay, the United Kingdom. As the first CCS initiative in the country, the HyNet project aims to reduce carbon emissions by capturing carbon dioxide from various industries and storing it in depleted reservoirs beneath Liverpool Bay.
This blog delves into the details of the contract and explores the significance of Halliburton's involvement in this groundbreaking CCS project.
Halliburton's Role in the HyNet Project
Halliburton has been awarded a prestigious contract to provide completions, liners, and monitoring products and services for the CCS system within the HyNet North West project. The company will leverage its expertise and resources to manufacture and deliver the necessary equipment from its completion manufacturing center in Arbroath, the United Kingdom.
HAL will develop innovative well completions and monitoring solutions, specifically tailored to the requirements of the HyNet project. By collaborating with the project stakeholders, the company aims to deliver cutting-edge solutions that contribute to the overall success of this CSS endeavor.
Advancing Carbon Capture and Storage
The HyNet North West project represents a milestone in the United Kingdom's efforts to combat climate change. By adopting advanced CSS techniques, the project will play a vital role in reducing carbon emissions and transitioning toward a cleaner and more sustainable future. Halliburton's participation in this initiative underscores its commitment to environmental stewardship. It also showcases the company’s leadership in CCS projects.
Storing captured carbon dioxide in depleted underground reservoirs (as part of the CSS process) has certain benefits. This not only prevents the release of greenhouse gas into the atmosphere but also enables safe and secure storage of carbon dioxide over the long term.
The Significance of the HyNet Project
Liverpool Bay, with its depleted reservoirs, offers an ideal location for the storage of captured carbon dioxide. It ensures isolation from the atmosphere and minimizes environmental impact.
The successful implementation of the HyNet project will build a platform for future CCS initiatives, both within the United Kingdom and abroad. It serves as a flagship project that demonstrates the viability and effectiveness of CSS as a means to combat climate change and transition toward a low-carbon economy.
Halliburton's Commitment to Sustainability
As a leading provider of oilfield services, Halliburton recognizes the importance of developing innovative solutions that address the challenges of climate change and contribute to a more sustainable future. The company's extensive experience in the energy industry, coupled with its dedication to technological advancements, positions it as a trusted partner in the development and implementation of CSS solutions.
Conclusion
Halliburton's contribution to the HyNet project demonstrates its ability to develop and deliver innovative solutions tailored to the unique requirements of CCS initiatives.
Zacks Rank and Key Picks
HAL currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks for investors interested in the energy sector are Evolution Petroleum (EPM - Free Report) , sporting a Zacks Rank #1 (Strong Buy), and Eni SpA (E - Free Report) and Archrock (AROC - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Evolution Petroleum: EPM is worth approximately $265.82 million. EPM currently pays a dividend of 48 cents per share, or 6.01% on an annual basis.
The company currently has a forward P/E ratio of 7.23. In comparison, its industry has an average forward P/E of 18.10, which means EPM is trading at a discount to the group.
Eni SpA: E is valued at around $49.97 billion. In the past year, its shares have risen 7.7%.
E currently pays dividends of $1.29 per share, or 4.60% on an annual basis. E's payout ratio currently sits at 21% of earnings.
Archrock: AROC is valued at around $1.56 billion. It delivered an average earnings surprise of 8.34% for the last four quarters and its current dividend yield is 6.02%.
Archrock is a provider of natural gas contract compression services and aftermarket services of compression equipment.