Aramco Taps Halliburton for Long-Term Unconventional Gas Contract
HAL sits 76% above its 52-week low of $20.17.
Summary
Halliburton has been awarded a long-term contract by Saudi Aramco for its unconventional gas program. The deal adds to a string of recent contract wins, including a five-year Iraq contract on July 5 and a deepwater project award on July 13. While financial terms are undisclosed, the contract strengthens Halliburton's position in the Middle East unconventional market and provides multi-year revenue visibility. The award follows strong Q1 results and the Pampa Energía digital transformation agreement in June, reinforcing the international growth narrative.
At the time of this announcement, HAL was trading at $35.55 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $29.6B. The 52-week trading range was $20.17 to $43.59. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.