Halliburton Technologies Receive OTC Spotlight Awards

Comprehensive managed pressure drilling solution and the industry's only large borehole LWD service increase optimization

HOUSTON – April 30, 2018 – Halliburton (NYSE: HAL) today announced its GeoBalance® Managed Pressure Drilling service and 9-½-inch Azimuthal Lithodensity (ALD™) service earned OTC Spotlight Awards for original technology and proven application. The announcement was made at the Offshore Technology Conference 2018 which began today.

"This recognition underscores how our approach to technology development results in solutions that help operators increase production and lower costs," said Toby Dixon, senior vice president of the Drilling and Evaluation Division. "Halliburton is proud to receive this honor and I congratulate our team for successfully bringing these innovative offerings to the market."

As a proven technique to enhance well construction, managed pressure drilling enables precise control of annular pressure throughout the wellbore. The GeoBalance system allows an operator to control wellhead pressure using a real-time wellbore hydraulics model and specialized equipment. The model, calibrated with real-time drilling data and, combined with the GeoBalance system’s proprietary algorithms, helps optimize drilling conditions and dynamically monitors for kicks, losses and wellbore stability.

The 9-½-inch ALD service is the industry’s only logging-while-drilling (LWD) service which provides deepwater operators with real-time density measurements and high-quality image logs in boreholes up to 17-½ inches. Previously unobtainable, these LWD measurements help operators enhance reservoir understanding and make informed geosteering decisions immediately after drilling when the borehole is in the best condition.

Halliburton has run the service more than 10 times in deepwater commercial wells in the Gulf of Mexico for large exploration and production operators while accumulating more than 1,000 operating hours. Results show consistent data quality and replicable performance from well to well, leading to high confidence and reduced well time and costs.

About Halliburton

Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry. With over 55,000 employees, representing 140 nationalities in more than 80 countries, the company helps its customers maximize value 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 throughout the life of the asset. Visit the company's website at www.halliburton.com. Connect with Halliburton on Facebook, Twitter, LinkedIn, Instagram and YouTube.

Downloadable Media