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HALLIBURTON AND PINNACLE TO RECEIVE AWARD FOR TECHNOLOGY INNOVATION
Houston, Texas - At a ceremony in Chicago in October 2002, Halliburton Energy Services (HES) and Pinnacle Technologies will be honored by R&D Magazine for technology innovation for a jointly developed product - the treatment well tiltmeter instrument. HES, a business unit of Halliburton (NYSE: HAL), and Pinnacle Technologies have formed an alliance to develop and market fracture mapping and diagnostic technologies.
The treatment well tiltmeter instrument, marketed by HES as FracTracSM TW service, measures minute deformations of the earth. An array of these instruments measures the dimensions of an oil or gas well fracture directly from the treatment wellbore, eliminating the need for an offset monitoring wellbore. When combined with HES' HalLinkSM system, this technology enables operators, HES and Pinnacle fracturing experts to simultaneously monitor treatments in real time anywhere in the world.
Lyle Lehman, stimulation product manager and co-developer of the product, said: "This process makes mapping of hydraulically induced fractures much easier for our customers. Since 1947, we have understood fracturing processes from the surface. Only recently have we been able to determine the actual geometry and location of fractures in the formation. This technology can really help optimize fracturing results by enabling us to design treatments based on reservoir properties."
David King, HES vice president of Production Enhancement, added, "FracTracSM TW service can make fracturing even more effective in helping operators improve reservoir performance and reduce their cost of production. This technology is the result of our continuing commitment to developing real-time reservoir solutions."
Kevin Fisher, Pinnacle's VP of Business Development says, "The treatment well tiltmeter allows fracture dimensions to now be directly measured in many environments previously thought impossible due to lack of suitable offset monitor wells. Fracturing is the single most impacting event on a well's productivity, other than perhaps the choice of where the well is drilled, and the ability to optimize a fracture treatment is key to improving exploitation economics."
Now in its 39th year, the R&D 100 awards recognize technological significance - smaller size, faster speed, greater efficiency and higher environmental consciousness. Many R&D award winning products from years past have become household names, such as Polacolor film (1963), the flashcube (1965), the automated teller machine (1973), the halogen lamp (1974), the fax machine (1975), the liquid crystal display (1980), the printer (1986), the Kodak Photo CD (1991), the Nicoderm anti-smoking patch (1992), Taxol anti-cancer drug (1993), lab on a chip (1996), and HDTV (1998). Pinnacle won an earlier award for its surface tiltmeter instrument and Halliburton won an award previously (1980) in recognition of the Duncan Technology Center when it was awarded "Lab of the Year" honors by the publication.
Halliburton Energy Services provides products, services, and integrated solutions for oil and gas exploration, development, and production. Capabilities range from initial evaluation of producing formations to drilling, completion, stimulation, and well maintenance - for a single well or an entire field. With more than 300 service centers in over 90 countries, Halliburton Energy Services possesses the global perspective that is increasingly important for energy exploration and production. Halliburton, founded in 1919, is one of the world's largest providers of products and services to the petroleum and energy industries. The company serves its customers with a broad range of products and services through its Energy Services Group and Engineering and Construction Group business segments. The company's World Wide Web site can be accessed at www.halliburton.com.
Pinnacle Technologies is the world's leading provider of hydraulic fracture diagnostic services. Product offerings include tiltmeter and FracSeis microseismic mapping, fracture consulting engineering, and the renowned FracproPT 3-D Fracture Simulator. Pinnacle has performed fracture diagnostic services on more than 6000 treatments on six continents during the past 10 years. More information on Pinnacle's products and services can be accessed at www.pinntech.com.
Contact
Zelma Branch
zelma.branch@halliburton.com
Halliburton
Public Relations
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Erin Petkovich
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