Halliburton Wins Five-Year Iraq Oilfield Management Contract, Boosting Production Targets
HAL sits 63% above its 52-week low of $20.17.
Summary
Halliburton secured a five-year integrated management contract with Iraq's Basra Oil Company for the Bin Umar and Sindbad oilfields. This agreement targets a significant increase in crude output to a combined 250,000 barrels per day and higher associated gas production. This substantial contract win reinforces Halliburton's international growth strategy, building on recent agreements in Suriname and Argentina.
At the time of this announcement, HAL was trading at $32.94 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $27.5B. 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: Reuters.