Yahoo Finance Halliburton (HAL) to Deploy UEM Solution at Norway's Maria Field
Halliburton Company HAL has inked a license agreement with Wintershall Dea for deploying its new Unified Ensemble Modelling (UEM) solution. Per the terms of the agreement, Wintershall Dea will use Halliburton Landmark’s new UEM solution to enhance the accuracy of its reservoir models.
The solution employs an advanced and sophisticated modeling approach that combines static and dynamic data in real time. The simultaneous use of both static and dynamic data allows for a comprehensive understanding of subsurface conditions. Additionally, UEM improves the precision of reservoir models by continually incorporating geological uncertainties, thereby playing a critical role in enhancing reservoir recovery amid uncertainties.
The technology is expected to allow Wintershall to continuously update and enhance its risk evaluation for ongoing drilling programs after the completion of each new well. A representative from Halliburton has highlighted that the capability to update a drilling target and the uncertainties associated with it provides the operators with exceptional decision-making abilities.
By leveraging Landmark’s cutting-edge, ensemble-based technology, Wintershall Dea should be able to update its earth models at rates that were previously unattainable, ensuring better alignment of its drilling programs with subsurface conditions. This innovative approach is expected to provide Wintershall Dea with improved well productivity, along with cost reduction benefits.
Real-time drilling data should further aid in refining Wintershall Dea’s models and predict uncertainties by enriching its database. Halliburton is set to deploy DecisionSpace 365 with UEM for the first time at Norway’s Maria Offshore Field.
Wintershall Dea has highlighted that its collaboration with Halliburton Landmark’s Reservoir Center of Excellence is significant for the development of advanced tools that will facilitate informed decision-making during drilling operations. The company has also mentioned that its upcoming drilling campaign at Maria Field will implement this technology.
Zacks Rank and Key Picks
Currently, HAL carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the energy sector are Archrock Inc. AROC, SM Energy SM and Hess Midstream Partners LP HESM. Archrock presently sports a Zacks Rank #1 (Strong Buy), while SM Energy and Hess Midstream carry a Zacks Rank of #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.
Archrock is an energy infrastructure company based in the United States, with a focus on midstream natural gas compression. It provides natural gas contract compression services and generates stable fee-based revenues.
SM Energy is an upstream energy firm operating in the prolific Midland Basin region and the South Texas region. For 2024, the company expects its production to increase from the prior-year reported figure, signaling a bright production outlook.
Hess Midstream owns, operates, develops and acquires a wide range of midstream assets, providing services to Hess Corporation and other third-party customers. The partnership has a stable fee-based revenue model secured via long-term commercial contracts. Since Hess Midstream operates through 100% fee-based contracts, it is exposed to minimal commodity price risks.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Halliburton Company (HAL) : Free Stock Analysis Report
SM Energy Company (SM) : Free Stock Analysis Report
Archrock, Inc. (AROC) : Free Stock Analysis Report
Hess Midstream Partners LP (HESM) : Free Stock Analysis Report
