Industry's first fully dissolvable frac plug reduces risk and costs associated with conventional plug removal
HOUSTON – June 15, 2015 – Halliburton's Completion Tools business line (NYSE: HAL), a long-standing industry leader in total composite plug technology, today introduced the Illusion® frac plug, the only fully dissolvable frac plug on the market. The new high-performance, 10,000 psi rated product shortens the time to production by eliminating the need to mill out plugs after fracturing, saving time and money for operators.
The Illusion frac plug revolutionizes plug-and-perf completions for fracturing in unconventional markets. Plugs can be installed at any position in the wellbore to enable optimal placement of perforations for improved fracturing, without prepositioned locator subs or other equipment that remains in the wellbore post-frac. Illusion frac plugs dissolve completely to leave an unrestricted bore for production, and since no intervention is required to clean the wellbore after the frac, risk is reduced and production may be brought on sooner to improve the net present value (NPV) of the asset.
Artie Burke, vice president of Completion Tools said, "We have successfully run Illusion plugs for our customers in the Eagle Ford, Bakken, and Woodford shale plays. This is a truly game-changing technology for the industry. We're excited to bring this next-generation product to the market that will reduce risk, allow production to commence sooner and improve the overall cash flow for our customers."
For more information, please visit the Illusion frac plug website.
Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry. With over 75,000 employees, representing 140 nationalities in approximately 80 countries, the company serves the upstream oil and gas industry throughout the lifecycle of the reservoir – from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production through the life of the field. Visit the company's website at www.halliburton.com. Connect with Halliburton on Facebook, Twitter, LinkedIn, Oilpro and YouTube.