Halliburton Company

Halliburton confirmed to Argentine authorities in early October 2026 that it and its subsidiaries will not work on the Malvinas Islands' Sea Lion project or conduct any hydrocarbon activities in the surrounding area, while separately signing memoranda of understanding with Eneva S.A. and WESCA to support oil and gas development opportunities in Venezuela. The two moves together reframe Halliburton's regional exposure, regulatory risk profile and future contract pipeline across Latin America, with the Venezuela agreements offsetting some perceived lost optionality around Malvinas through a different Latin American pathway for international revenue, offshore and unconventional exposure. Those agreements sit alongside recent multi-year wins in Suriname, Brazil and Cyprus, reinforcing that the key short-term catalyst remains Halliburton's ability to execute on higher-complexity international contracts at acceptable margins and with controlled start-up costs. Halliburton's narrative projects $25.1 billion in revenue and $2.7 billion in earnings by 2029, requiring 3.9% yearly revenue growth and an earnings increase of about $1.1 billion from $1.6 billion today, and yields a $43.44 fair value, a 36% upside to its current price. More optimistic analysts had already assumed revenues of about US$26.8 billion and earnings near US$3.4 billion before the Venezuela and Malvinas news, while other fair value estimates put the stock as low as $34.03.

Deep Isolation Nuclear, Inc. announced that the Texas Railroad Commission has issued a drilling permit for its full-scale, non-radioactive Commercialization Pilot near Cameron, Texas, allowing the project to advance from engineering and design toward construction and field activities. The pilot is designed as a full-scale, end-to-end demonstration of the company's deep borehole disposal technology using non-radioactive materials, and aims to generate field data and operational experience to support future commercial deployment. The Texas project brings together Deep Isolation with the Deep Borehole Demonstration Center, Halliburton, Amentum, NAC International, and Occlusion Nuclear Solutions. Jesse Sloane, Executive Vice President of Engineering at Deep Isolation, called the permit a major milestone, while Steve Haden, Senior Vice President of Project Management at Halliburton, said his company will apply its subsurface, drilling, and well construction experience to support deployment of the technology. With the permit issued, the project team plans to advance site and construction activities in preparation for subsequent drilling and subsurface testing.

Venezuela's oil and gas industry is drawing renewed interest from international energy companies, with fresh agreements involving major producers and oilfield service firms pointing to stepped-up development of the country's hydrocarbon resources. Eni and PDVSA signed a 25-year hydrocarbon participation contract on Sept. 2, 2026, making Eni the exclusive operator of the Junín-5 heavy-oil area, which holds 35 billion barrels of certified oil in place and currently produces approximately 12,000 barrels per day; the partners plan to invest approximately $1.5 billion annually, with production expected to reach around 400,000 barrels per day by 2030. Chevron announced updated agreements on Sept. 2, 2026, covering its Venezuelan joint ventures and additional acreage in the Orinoco Belt, underpinning plans to invest more than $7 billion over the next five years and more than double production to approximately 600,000 barrels per day versus 2026 levels, after output from its three Venezuelan joint ventures rose 15% through the second quarter of 2026. TotalEnergies and PDVSA signed a memorandum of understanding on Sept. 19, 2026, setting a framework for energy cooperation, though scope and value were not disclosed, while Halliburton announced MOUs with Eneva and WESCA on Sept. 21, 2026, to support field evaluation and development planning in Venezuela. Over the past year, Eni shares have advanced 55.4%, while TotalEnergies, Halliburton and Chevron have gained 43.3%, 29.3% and 31.5%, respectively, as crude oil held above $90 per barrel.

Halliburton Company announced on September 21 that it had signed memorandums of understanding with Brazilian energy company Eneva and Venezuelan engineering firm WESCA to pursue oil and gas opportunities in Venezuela. Under the MoU with Eneva, the two partners will build on their existing relationship to identify and pursue development opportunities in the country, while the WESCA agreement will focus on field evaluation and development planning, including the use of digital technology and subsurface interpretation. The deals could give the oilfield services provider an early position in the largest oil reserves in the world, as Venezuela pushes to lift production from the current 1.25 million barrels per day to 3 million bpd. Halliburton operated in the country for nearly nine decades before suspending its primary Venezuelan operations in 2020 amid tightening US sanctions, and Francisco Tarazona, Senior Vice President Latin America at Halliburton, said the agreements highlight the company's efforts to help customers unlock value from their assets. The agreements are MoUs and not closed contracts, and Halliburton has provided no financial details, production targets, or spending commitments, leaving the near-term impact limited by Venezuela's regulatory and infrastructure challenges.

Halliburton Company announced a multi-year contract from Eni S.p.A. on September 15 for the Cronos ultra-deepwater development offshore Cyprus. The award covers integrated drilling, well construction, automation, and completion services for exploration and development wells in Block 6 of the Cyprus Exclusive Economic Zone, including drilling fluids, directional drilling, LOGIX automation and remote operations, cementing, surface well testing, and coiled tubing. Contract value was not disclosed. The award follows Halliburton's second-quarter Europe/Africa revenue of $1.0 billion, up 19% sequentially, supported partly by well construction in Namibia and Egypt and completion-tool sales in the Mediterranean. In the same quarter, Drilling and Evaluation revenue rose 5% sequentially to $2.5 billion while segment operating income fell 4% to $338 million, which management attributed to a seasonal reduction in software sales.

Halliburton Company has secured a bundled well construction and completions contract from Eni for the Cronos ultra-deepwater development in Cyprus's Block 6. The multi-year award covers integrated drilling, automation, and completions services supported by Halliburton's regional infrastructure. The company said the bundled scope highlights its ability to deliver integrated ultra-deepwater solutions that streamline operations, reduce interfaces, and enhance execution certainty for complex offshore gas developments in the Eastern Mediterranean. The win follows Halliburton's integrated well construction contract with TotalEnergies for the GranMorgu project in Suriname, adding another datapoint to its push into bundled international contracts. Halliburton's narrative projects $25.1 billion in revenue and $2.7 billion in earnings by 2029, requiring 4.0% yearly revenue growth and an earnings increase of about $1.1 billion from $1.6 billion today, while the most optimistic analysts assume revenue of about US$26.7 billion and earnings of around US$3.3 billion by 2029.

Barclays analysts project that the global energy sector will require about $3.6 trillion in annual investment by 2027, driven by artificial intelligence, electrification, and energy-security concerns. This spending, spanning oil and gas, LNG, pipelines, power generation, grids, renewables, storage, and electrification, is expected to grow by more than 5% annually and exceed three times the capital needed for planned AI infrastructure. The bank describes an era of "energy addition," where demand for conventional and low-carbon energy rises simultaneously, with global energy demand growing at a 1.9% compound annual rate from 2025 to 2050. Data centers alone could add about 32 quadrillion BTUs of energy demand by 2040, equivalent to over 600 gigawatts and roughly matching Russia's 2025 consumption. Underinvestment has left upstream oil and gas capex about 45% below its peak, and over 2,500 GW of renewable and storage projects await grid connections, making grids and transmission networks major constraints. Barclays sees opportunities across upstream, oil services, LNG, pipelines, utilities, and clean tech, with 2028 earnings estimates for preferred stocks averaging 11% above consensus and price targets implying about 30% upside.

The U.S. government's agreement with Venezuela, touted by President Trump as "the biggest oil deal in world history," grants American access to 65 billion barrels of proven Venezuelan reserves through 100-year concessions across 17 oilfields, brokered with North American Blue Energy Partners. The deal, which includes a 25-year cooperation framework, aims to more than double U.S. oil reserves and lower gasoline prices, while Chevron, ExxonMobil, ConocoPhillips, SLB, and Halliburton are positioned to benefit from an estimated $100 billion in infrastructure investment targeting 1.5 million barrels per day. For investors, energy ETFs like XLE, VDE, OIH, and IYE offer exposure to these beneficiaries, with year-to-date gains ranging from 42.2% to 50.7%.

Energy stocks led the market higher Monday as two major oil catalysts hit at once: the resumption of U.S.-Iran strikes sent oil prices up about 3%, lifting Chevron, Exxon Mobil, Halliburton, and Occidental Petroleum, while President Trump announced a deal with Venezuela to control more than 65 billion barrels of its oil reserves. Chevron opened at $208.18, up 1.00% on the session and 36.13% year-to-date, after reporting $12.1 billion in Q2 earnings and cutting debt by over $8 billion. Exxon Mobil traded at $162.91, up 1.20%, despite disclosing $706 million in Q1 losses tied to Middle East disruptions. Halliburton added 1.53% to $36.74, while Occidental rose 0.76% to $59.55, with CEO Richard Jackson saying the company fully offset Middle East production losses through Permian and Gulf of America volumes. The Venezuela deal adds a long-horizon reserves story, but degraded infrastructure means years of investment before new supply reaches the market.

The Dow Jones Industrial Average closed down 374.09 points, or 0.70%, at 53,185.90 on Monday, as investors worried that rising oil prices amid tensions in the Middle East could push inflation higher and prompt the Federal Reserve to raise interest rates. The S&P 500 fell 25.62 points, or 0.33%, to 7,686.14, and the Nasdaq dropped 31.53 points, or 0.12%, to 26,370.89. WTI and Brent crude oil prices surged more than 2.5% after the U.S. struck Iranian rocket launchers on Larak Island, marking the first attack on targets inside Iran since late July. Iran retaliated by attacking a U.S. base in Jordan. President Trump vowed to respond to Iran and threatened to destroy Kharg Island, a key Iranian oil export terminal. The rise in oil prices pushed U.S. Treasury yields higher, and markets grew concerned about inflation and the prospect of Fed rate hikes. This followed comments from Fed Governor Kevin Warsh, who signaled a possible rate hike at the September meeting, saying at Jackson Hole that he needs to be confident that underlying inflation is clearly and sufficiently moving toward its target. Nine of the 11 S&P 500 sectors closed lower, led by a 1.63% drop in communication services, while energy rose 2.1% in line with oil prices, with Halliburton and Valero Energy up 1.9%. Amazon shares fell 2.5% after the FTC and 22 states sued the company over allegedly unfair practices in digital advertising auctions. Investors are watching Friday's U.S. August nonfarm payrolls report, which is expected to show an increase of 58,000 jobs after a decline of 23,000 in July, with the unemployment rate holding at 4.1%.

Chevron and Halliburton are nearing deals that could bring billions of dollars of investment into Venezuela's oil industry, as the Trump administration pushes U.S. energy companies to help rebuild the country's oil sector. Chevron is close to adding two heavy-oil fields to its Venezuelan portfolio, where it already operates three joint ventures with state-owned Petróleos de Venezuela, while Halliburton is in discussions to supply equipment and oilfield services. Executives from several oil and gas companies are expected to travel to Caracas next week to sign production agreements, with Energy Secretary Chris Wright also expected to attend. The potential deals follow earlier agreements by Hunt Oil and SLB, and come amid reports of a broader U.S.-Venezuela arrangement involving majority U.S. control of more than 65 billion barrels of Venezuela's proven oil reserves. ExxonMobil and ConocoPhillips remain on the sidelines, seeking restitution for assets nationalized in 2007.

In premarket trading, Chevron and other energy stocks rose as U.S. oil prices climbed more than 3% following U.S.-Iran strikes in the Middle East, with Halliburton up over 2.5% and Chevron up 2%. PG&E plunged 16% after California lawmakers blocked a proposal to limit wildfire liability, prompting downgrades from analysts including Mizuho. GameStop jumped 4% after reporting preliminary second-quarter results, expecting higher operating and net income despite lower net sales. Aon slipped 1.8% after announcing a $17 billion deal to buy USI Insurance Services from KKR. Pinterest fell over 3% as CFO Julia Brau Donnelly departs, with Vikram Naidu as interim replacement. Deere rose 1% on a Baird upgrade.

U.S.-listed energy stocks climbed in premarket trading Monday, tracking a more than 2% jump in oil prices after American forces struck an Iranian island in the Strait of Hormuz and Tehran retaliated. Brent crude rose 3.5% to $91.20 a barrel, while U.S. West Texas Intermediate also gained 3.5% to $86.30 a barrel. In turn, energy stocks rallied, with Chevron up 1.7%, Exxon Mobil rising 1.5%, Occidental Petroleum advancing 1.8%, ConocoPhillips gaining 1.3%, Halliburton climbing 2.5%, and SLB rising 1.7%. Refiners also participated, with Marathon Petroleum up 0.6% and Phillips 66 gaining 1%. U.S. forces struck two missile launchers on Iran's Larak Island on Sunday, marking the first confirmed American strikes on Iran since late July, and Iran's Revolutionary Guards responded by striking two U.S. air bases in Jordan. President Trump added to the confusion with a social media post claiming Iran's Kharg Island energy hub was being "blown to smithereens," but Iran denied any strike occurred and said oil operations there were continuing normally. Efforts to end the conflict remain stalled as international mediators work to reopen the Strait of Hormuz, a chokepoint that carried roughly one-fifth of global oil supply before fighting broke out at the end of February. U.S. Treasury Secretary Scott Bessent told Reuters that Washington is likely to roll out new secondary sanctions against Iran on a weekly basis going forward.

Halliburton has received an integrated contract from BP for the first appraisal campaign in Brazil's Bumerangue deepwater field, covering drilling, digital, and automation services. The award highlights Halliburton's role in a major offshore project in Brazil's pre-salt region, aligning with its strategy of international, technology-heavy energy projects. This win supports the narrative that Halliburton's digital and automation tools can be embedded early in asset life, but also underscores its continued dependence on long-lived oil and gas developments amid decarbonization concerns.

The U.S. Department of Defense is negotiating a major partnership with energy investor Alejandro Betancourt to secure a direct stake in Venezuelan crude reserves, Bloomberg reported Friday. The discussions center on as many as 17 oil fields across Venezuela's primary basins, reflecting Washington's aggressive push to consolidate influence over the nation's energy infrastructure. Under one framework being evaluated, the U.S. could secure a 100-year lease over assets that include the Junin area in the Orinoco belt and legacy fields around Lake Maracaibo. The Pentagon's Office of Strategic Capital, created in 2022 to direct private capital into critical sectors, is being considered to manage the prospective investment. The military initiative comes alongside parallel efforts by major corporate players to expand their footprint in the region. The Wall Street Journal reported earlier today that Chevron Corp. and Halliburton Co. are nearing multi-billion-dollar deals to boost Venezuelan production, with Chevron seeking to add two heavy-oil fields to its three existing joint ventures with state producer PdVSA. Washington has effectively assumed control over Venezuelan oil sales and relaxed sanctions following the January capture of former President Nicolás Maduro and the installation of Delcy Rodríguez. While President Donald Trump has championed the revitalization of Latin America's former oil titan, actual output recovery has remained sluggish as major energy operators navigate ongoing political uncertainty. Against that backdrop, rising global crude prices driven by conflict with Iran and Middle Eastern supply strains have heightened the urgency for Western capital deployment. While conservative majors like ExxonMobil Corp. and ConocoPhillips maintain a cautious stance, independent intermediaries and service firms appear positioned to lead the initial wave of reinvestment.

Chevron shares rose 0.5% and Halliburton gained 1.7% after a Wall Street Journal report that the companies are nearing deals to invest billions of dollars in Venezuelan oil fields. Chevron is close to a deal to expand its operations in Venezuela, potentially adding two new heavy-oil fields to its portfolio, according to people familiar with the matter. The company currently operates three joint ventures with PdVSA and is the only major U.S. company active in Venezuela. Halliburton, one of the largest U.S. oilfield services firms, is in talks to bring its equipment to oil producers in Venezuela.

Halliburton reported quarterly revenue of US$5.71 billion, up 3.7% year on year, with both sales and EPS exceeding analysts' expectations amid stronger drilling activity and demand for efficiency-focused oilfield technologies. Around the same time, Halliburton Labs expanded its collaborative ecosystem by adding Electroflow, Osmoses, and SiTration, underscoring the company's support for early-stage technologies in battery materials, resource recovery, and gas separations that aim to address evolving energy and industrial needs. The earnings beat and modest share price reaction suggest the near-term catalyst is still operational execution and contract wins, while the biggest risk remains a structural shift away from oil and gas. Halliburton's narrative projects $24.7 billion revenue and $2.6 billion earnings by 2029, with a fair value estimate of $44.24, a 25% upside to its current price.

Halliburton Company announced that its board of directors has declared a 2026 third quarter dividend of seventeen cents ($0.17) a share on the company's common stock. The dividend is payable on September 23, 2026, to shareholders of record at the close of business on September 2, 2026.

Halliburton, TechnipFMC, Antero Resources, APA Corporation, and Transocean all traded higher after Brent crude rebounded to the mid-$80s, as traders kept a geopolitical risk premium priced into oil despite ongoing Strait of Hormuz negotiations. Halliburton jumped 4.3%, TechnipFMC rose 4.2%, Antero Resources gained 4.7%, APA Corporation climbed 6.4%, and Transocean surged 6.9%. The moves followed a UAE-vessel incident that reversed an earlier price drop, and Kpler data showing shipping traffic through the Strait of Hormuz plummeted about 33% over the previous two days. Iran's Parliament also reviewed a bill that would permanently ban U.S., Israeli, and other hostile vessels from the waterway and impose heavy cargo fines, signaling the restriction could become more formal.

Halliburton reported higher second quarter 2026 sales, revenue, net income, and earnings per share compared to the same period last year, while continuing its share repurchase program. The stock closed at $32.25, with a 90-day share price return of negative 22.6%, even as the one-year total shareholder return reached 52.8%. A widely followed narrative pegs Halliburton's fair value at $44.24, suggesting the stock is undervalued, supported by international diversification and growth in regions like Latin America, Africa, and the Middle East. Investors are cautioned that faster renewable adoption or tighter emissions rules could curb long-term oilfield spending and challenge the undervalued thesis.

Morgan Stanley strategists say US companies integrating artificial intelligence are well positioned for stronger profit margins this earnings season. The team led by Michael Wilson expects about 100 basis points of net-margin expansion through 2027 tied to AI adoption, with margin expectations improving most clearly for firms where AI is central to their investment thesis and pricing power is neutral to strong. Wilson noted that the outlook for AI adopters is increasingly compelling, especially in industries often seen as vulnerable, including transports, software and services, and professional services. Stocks such as Halliburton, Bank of America, CVS Health, and NextEra Energy are among prime beneficiaries, while Alphabet, Meta Platforms, and Nvidia also continue to screen strongly. Wilson said adoption is moving from experimentation to measurable enterprise value, with about 40% of AI adopters citing at least one quantifiable benefit so far this earnings season, up from 21% a year earlier, and companies reporting a net productivity increase of nearly 10% on average over the past year.

Halliburton enters the second half of 2026 with a stronger international growth case, supported by contract momentum and technology adoption. The company reported $3.4 billion in international revenues in the second quarter, its highest second-quarter international level in more than a decade, and expects low double-digit international growth in 2026 outside the Middle East. Recent awards include a multi-year Kuwait Oil Company agreement, an integrated field management contract in Iraq, unconventional drilling work in Algeria, and long-term projects in Saudi Arabia's Jafurah field, along with offshore contracts for TotalEnergies' GranMorgu development offshore Suriname. Technology deployments such as ZEUS IQ, LOGIX automation, and closed-loop drilling are improving margins and operational performance. Near-term risks remain from geopolitical conditions in the Middle East and uneven revenue trends, with third-quarter guidance indicating flat to down 2% for Completion and Production revenues and a 3-5% decline for Drilling and Evaluation revenues. The stock carries a Zacks Rank #3 (Hold), reflecting a balance between improving momentum and incomplete earnings visibility.

Oilfield services provider SLB will report earnings this Friday before market hours. Analysts expect revenue to decline 7.6% year on year, a further deceleration from the 5.8% decrease recorded in the same quarter last year. The company beat revenue expectations last quarter with $8.72 billion, though that was down 6.3% year on year. Peers in the oilfield services segment have already reported, with Oceaneering delivering 10% revenue growth and Halliburton posting a 3.7% increase, both topping estimates. SLB's stock price was unchanged over the last month, while the segment's average share price rose 5.2%, and it heads into earnings with an average analyst price target of $60.93 compared to the current share price of $47.73.

Halliburton reported higher second-quarter earnings and revenue, citing stronger drilling and completion activity across key markets and an expanding pipeline of international contracts. The oilfield services provider posted net income of $534 million, or $0.64 per diluted share, up from $461 million, or $0.55 per share, in the first quarter, with adjusted earnings of $0.55 per share excluding special items. Revenue rose to $5.7 billion from $5.4 billion in the previous quarter, while operating margin reached 14%, and the company generated $824 million in operating cash flow and $668 million in free cash flow, repurchasing approximately $200 million of its shares during the quarter. CEO Jeff Miller said Halliburton sees a strong global outlook, pointing to growing international demand and a recovery in North America that is expected to continue through the rest of the year. The Completion and Production division generated $3.2 billion in revenue, up 6% sequentially, and the Drilling and Evaluation division revenue climbed 5% to $2.5 billion, while North America revenue increased 7% to $2.3 billion and international revenue rose 5% to $3.4 billion, led by a 19% jump in Europe and Africa.

Kaishan Group Co., Ltd. has signed a strategic cooperation memorandum of understanding with global energy services giant Halliburton, establishing a deep strategic partnership. The two parties will focus on cooperation in areas such as enhanced geothermal system development, drilling optimization, integrated project execution for geothermal projects, digital drilling technology, green hydrogen, and green ammonia production. The MOU takes effect from June 24, 2026, and is valid until June 23, 2028. It is only a letter of intent and is not legally binding. The company stated that this cooperation represents a major step forward in advancing its new energy business, but it is not expected to have a significant impact on this year's operating performance.

Halliburton has secured a contract from Basra Oil Company to deliver integrated field management services for the Bin Umar and Sindbad oil and gas fields in southern Iraq. The contract covers field development planning, production optimisation, digital solutions, and engineering, procurement and construction management services. Halliburton will implement its Landmark portfolio to establish a digital framework connecting subsurface insights, well delivery, production operations and business planning. Production at the Bin Umar field could reach around 150,000 barrels of oil per day and 300 million standard cubic feet per day of associated gas during the first five years of the development phase. The programme aims to increase oil output and enhance the capture and use of associated gas for domestic supply, supporting Iraq's energy security goals.

Halliburton has secured a long-term contract from Saudi Aramco to provide integrated stimulation and completion services for the Jafurah unconventional gas project in Saudi Arabia. The multi-year agreement, whose financial details were not disclosed, strengthens Halliburton's position in one of the world's largest unconventional gas developments, with the Jafurah Basin holding an estimated 229 trillion cubic feet of recoverable resources. Beginning in the third quarter of 2026, Halliburton will deploy Saudi Arabia's first fully integrated intelligent fracturing platform, utilizing its OCTIV Auto Frac automation system and Sensori fracturing monitoring services. The company also plans to increase local investment by expanding manufacturing capabilities, strengthening its supply chain, and investing in workforce development programs.

TotalEnergies has secured €440 million in debt financing for a large battery energy storage portfolio in Germany and awarded Halliburton a long-term drilling contract for its GranMorgu offshore project in Suriname. The financing supports the company's European clean energy infrastructure, while the drilling contract advances its global upstream activity. TotalEnergies shares trade at €71.2, with a year-to-date return of 26.9% and a five-year gain of 172.8%. The stock is down 6.8% over the last 30 days and trades about 16% below the analyst target of €84.58.

Halliburton has been awarded contracts to provide integrated drilling and completions services for the GranMorgu deepwater oil development offshore Suriname. The long-term program will use a digital and automation execution model with integrated workflows, real-time data, and remote operations control to improve well placement accuracy and reduce costs for operator TotalEnergies. GranMorgu, covering Block 58 with estimated recoverable reserves of approximately 760 million barrels, is operated by TotalEnergies with a 40% stake alongside partners APA at 40% and Staatsolie at 20%. Production is expected to start in 2028 using a floating production, storage and offloading unit with a capacity of 220,000 barrels per day. Halliburton will also upgrade its liquid mud and cement facility in collaboration with Surinamese suppliers.

Halliburton shares rose 2.5% to $35.27 after the company secured major integrated well construction contracts from TotalEnergies for the GranMorgu deepwater development offshore Suriname. The long-term agreement covers drilling and completions services, with Halliburton deploying a fully integrated digital and automation execution model to improve well placement accuracy and lower total cost of ownership. The project marks the first global alliance between Halliburton, TotalEnergies, and offshore drilling contractor Noble, providing Halliburton with long-term revenue visibility in a key emerging deepwater basin. The stock also benefited from a broader energy market tailwind as U.S. crude oil prices climbed to nearly $77 per barrel.

Deep Isolation Nuclear has started trading on the OTCQB Venture Market under the ticker symbol DBHL. The company, which develops deep borehole nuclear waste disposal technology, said the listing provides improved access to capital markets as it advances its Universal Canister System. The move follows an oversubscribed $33 million private offering and a successful Alternative Public Offering in 2025. Deep Isolation has also launched a full-scale, at-depth demonstration of its disposal technology in Cameron, Texas, and was selected for ARPA-E's SCALEUP Ready program, which could provide up to $20 million in funding. The company holds over 100 patents and has partnerships with Halliburton, Westinghouse, and other industry leaders.

Halliburton has secured an integrated management contract from Iraq's Basra Oil Company to develop the Bin Umar and Sindbad oil fields. Under the agreement, Bin Umar is expected to increase crude oil production to 150,000 barrels per day and associated gas production to 300 million standard cubic feet per day, while Sindbad is targeted to reach between 80,000 and 100,000 barrels per day of crude and 240 to 260 million standard cubic feet per day of associated gas. The contract covers engineering, drilling, production optimization, reservoir management, and operational planning under a unified framework. The project supports Iraq's strategy to maximize existing field potential and strengthen its position as a leading oil producer.

UBS raised its price target on Halliburton to $40 from $39 while maintaining a Neutral rating. The new target implies an upside of over 21% from current levels. Separately, Halliburton signed an agreement with the Iraqi government to develop the Bin Umar and Sindbad oil fields in Basra governorate. Bin Umar output is expected to reach 150,000 barrels of oil per day and 300 million standard cubic feet per day of associated gas within five years, while Sindbad is targeted to add 80,000 to 100,000 barrels of oil per day and 240 to 260 million standard cubic feet per day of associated gas over the same period.

Greenland Energy will fully fund a two-well drilling program in Greenland's Jameson Land Basin planned for the second half of 2026, earning a 70% interest in the project while 80 Mile retains 30%. The basin spans more than 8,400 square kilometers and is one of the world's largest remaining underexplored onshore hydrocarbon regions. Greenland Energy has engaged Halliburton for consulting, logistics, and operational support, and expects additional agreements with Stampede Drilling to enhance drilling capabilities.