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Halliburton to Optimize Remaining Potential of the UK North Sea in Collaboration With Repsol Resources UK

1. Halliburton secures a 5-year contract with Repsol Resources UK. 2. The contract focuses on subsurface technology and P&A operations. 3. This collaboration aims to innovate and drive economic growth in the UK North Sea. 4. Halliburton supports Repsol's efforts in decommissioning offshore assets. 5. Timothy Horsfall highlights the strategic significance of this partnership.

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Why Bullish?

This long-term contract enhances HAL's revenue streams significantly. Historical contracts in similar sectors often resulted in sustained stock price increases.

How important is it?

The contract with Repsol solidifies Halliburton's role in critical offshore operations, likely increasing market confidence. The potential for innovation in decommissioning can further enhance HAL's reputation.

Why Long Term?

The contract spans five years, indicating consistent revenue and partnership benefits over time. Such long-term agreements generally bolster investor confidence and stability.

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REPYFSLBOXY
ABERDEEN, Scotland--(BUSINESS WIRE)--Repsol Resources UK (OTC: REPYF) awarded Halliburton (NYSE: HAL) a 5-year contract to support the full well lifecycle on their platform assets in the UK North Sea. Halliburton will provide subsurface technology, drilling and completion services, and digital solutions for major new developments. The company will deliver a rigless intervention framework that enables Repsol Resources UK to optimize well construction, production, and intervention to maximize plug and abandonment (P&A) operations. “This collaboration between Halliburton and Repsol Resources UK marks a strategic milestone,” said Timothy Horsfall, vice president, Halliburton Europe. “The efforts to maximize the remaining potential of the UK North Sea align with our focus to provide safe and reliable P&A operations.” The two companies aim to establish an industry standard for innovation and economic growth. Halliburton’s services will support Repsol Resources UK’s decommissioning efforts in the region. About Halliburton Halliburton is one of the world’s leading providers of products and services to the energy industry. Founded in 1919, we create innovative technologies, products, and services that help our customers maximize their value throughout the life cycle of an asset and advance a sustainable energy future. Visit us at www.halliburton.com; connect with us on LinkedIn, YouTube, Instagram, and Facebook. About Repsol Repsol UK is a North Sea operator, based in Aberdeen, Scotland, with interests in 43 fields, of which they operate 36, on the UK Continental Shelf with 11 offshore installations and two onshore terminals. Their assets include producing oil fields, major new developments and a number of assets that have ceased production or are approaching decommissioning.

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