Halliburton Taps IBM to Move Its Business Deeper Into the Cloud

Halliburton (HAL) - Get Report is teaming up with IBM (IBM) - Get Report Cloud to help streamline its oil and gas fields businesses. 'Halliburton is essentially moving all of their large reservoir simulations to the IBM cloud and that's a huge change for them and it's great for their clients,' said Jim Comfort, chief technology officer at IBM Cloud, adding that the move provides Halliburton with more agility to serve their clients worldwide. He said Halliburton is moving to the cloud amid competitive pressures in the industry. 'They realized the challenges of trying to sustain and maintain [their] infrastructure - while [that's] necessary for their core business - it's not the core,' Comfort said, adding that they are looking for ways to do more with less. TheStreet's Scott Gamm reports from Wall Street.