Halliburton Company (HAL) - Get Report today announced it has successfully deployed the industry's first electric grid-powered fracturing operation. The job, being performed on several pads for Cimarex Energy Co. (XEC) - Get Report in the Permian basin, started in November. To date, Halliburton has completed almost 340 stages across multiple wells using utility-powered electric frac pumps that demonstrated consistent superior performance.
Grid-powered electric fracturing offers an alternative path to achieving the lowest emissions profile possible compared to both turbines and Tier 4 dual fuel engines. Grid-powered electric fracturing also offers additional operational reliability and requires a lower capital outlay compared to turbines. Delivering a grid-powered fracturing solution is an example of Halliburton's commitment to leading in the energy transition by helping customers achieve lower emissions.
Cimarex Vice President - Permian Business Unit, Michael DeShazer, said, "Cimarex has focused its infrastructure investment on creating operational efficiencies and reducing emissions including ownership of the electrical grid on our Culberson and Reeves County acreage. These investments are enhanced by Halliburton's grid-powered fracturing operation. We look forward to the continued development of this technology with Halliburton across Cimarex's assets."
Halliburton's electric-powered equipment is engineered to utilize the maximum power potential from the grid, allowing the customer to achieve pumping performance of 30 to 40 percent higher than with conventional equipment.
"Electric fracturing aligns with our goal to provide the industry with lower-carbon intensive solutions and our commitment to a sustainable energy future," said Michael Segura, vice president of Production Enhancement for Halliburton. "With Halliburton's leading electric fracturing capabilities, coupled with an innovative operator like Cimarex, grid power can offer one of the most effective and capital efficient solutions for electric fracturing."
Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry. With more than 40,000 employees, representing 140 nationalities in more than 80 countries, the company helps its customers maximize value throughout the lifecycle of the reservoir - from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the asset. Visit the Company's website at www.halliburton.com. Connect with Halliburton on Facebook, Twitter, LinkedIn, Instagram and YouTube.
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