Halliburton Wins Aramco LSTK Contracts for Onshore Oil Re-Entry
HAL sits 73% above its 52-week low of $20.17.
Summary
Halliburton secured lump sum turnkey (LSTK) contracts from Saudi Aramco for an onshore oil re-entry program covering 285 wells. The award adds to a string of recent Middle East wins, including a long-term unconventional gas contract with Aramco reported yesterday and a five-year Iraq deal earlier this month. The LSTK structure shifts execution risk to Halliburton but signals Aramco's confidence in its integrated capabilities. No financial terms were disclosed, but the contract deepens a strategic relationship in a region driving Halliburton's international growth.
At the time of this announcement, HAL was trading at $34.90 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $29.4B. 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 7 out of 10. Source: Dow Jones Newswires.