One of the largest oil field service providers, Halliburton Company HAL, recently announced the launch of multiple facilities across Namibia, marking a significant step toward providing advanced energy solutions and boosting the nation’s economy in the oil and gas sector.
HAL’s new Namibian facilities, having a combined footprint of about 20,000 m², will be located in different areas like Windhoek, Walvis Bay, Swakopmund and Lüderitz. The Windhoek facility will provide support services and the facility at Walvis Bay will manage cementing & drilling fluids services and warehousing. The Swakopmund facility will focus on specialized services like Sperry Drilling, well completions, testing and subsea operations, and wireline and perforating, while Lüderitz operations will include cementing and wireline services.
With this expansion, HAL aims to deliver advanced drilling technologies and oil field services that maximize the asset value. The company would also be able to provide technological innovation in Namibia through oilfield automation, remote operations, geosteering and measurement while drilling and well testing.
Apart from providing technological innovation, the company would also be able to boost Namibia’s economy by supporting the oil and gas industry and creating job opportunities for the local people. The expansion will support the country’s aim of creating a skilled workforce in the oil and gas sector as HAL is expected to employ 200 Namibians in its new facilities.
The expansion will also support the company’s operational efficiency, as it will be able to work closely with its customers and collaborate with them in real time.
Houston, TX-based Halliburton Company is one of the largest oilfield service providers in the world. It offers a variety of equipment, maintenance, engineering and construction services to the energy, industrial and government sectors. Currently, HAL has a Zacks Rank #4 (Sell).
Investors interested in the energy sector might look at some better-ranked stocks like Mach Natural Resources LP MNR, Kosmos Energy Ltd. KOS and Targa Resources Corp. TRGP.While Mach currently sports a Zacks Rank #1 (Strong Buy), Kosmos Energy and Targa Resources each carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Mach Natural Resources LP is an independent upstream oil and gas company that focuses on the acquisition, development and production of oil, natural gas and natural gas liquids reserves. The Zacks Consensus Estimate for MNR’s 2024 earnings indicates 200% year-over-year growth.
Hamilton, Bermuda-based Kosmos Energy Ltd. operates as an oil and gas exploration and production company focused on under-explored regions in Africa. KOS’ expected EPS (earnings per share) growth rate for the next five years is 17.50%, which compares favorably with the similar industry growth rate.
Houston, TX-based Targa Resources Corp. is a premier energy infrastructure company and a leading provider of integrated midstream services in North America. The Zacks Consensus Estimate for TRGP’s 2024 earnings indicates 70.22% year-over-year growth.
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Halliburton Company (HAL) : Free Stock Analysis Report
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