Halliburton and Siguler Guff Announce Joint Venture for Emissions Management Software

Rhea-AI Summary

Halliburton Company (NYSE: HAL) and Siguler Guff & Company, LP have launched Envana Software Partners, LLC, focusing on emissions management solutions. The Envana™ software suite offers software-as-a-service (SaaS) tools to track greenhouse gas emissions in the oil and gas sector, enhancing transparency and providing actionable data for reducing carbon footprints. The first product, Envana Catalyst, improves emissions tracking through customizable methodologies. This initiative represents a significant step towards sustainability in energy operations and is supported by Halliburton Landmark for sales and integration.

Positive

• Launch of Envana Software Partners, LLC for emissions management.
• Introduction of the Envana Catalyst, a SaaS solution for tracking greenhouse gas emissions.
• Enhanced transparency and actionable information for reducing carbon footprints.
• Integration capabilities with existing software through a documented API.

Negative

• None.

New company will deliver digital solutions to help customers track and reduce their total carbon footprint

HOUSTON--(BUSINESS WIRE)-- Halliburton Company (NYSE: HAL) and Siguler Guff & Company, LP (“Siguler Guff”) today announced the launch of Envana Software Partners, LLC. The new venture provides critical emissions management software-as-a-service (SaaS) solutions to track greenhouse gas emissions in the oil and gas industry and beyond.

The Envana™ digital emissions management solution provides a smarter and more accurate picture of emissions, which gives companies actionable information to manage and reduce their total carbon footprint. The Halliburton-created software incorporates the company’s operational expertise and oilfield best practices. Future Envana products that are now in active development will support methane detection and quantification management.

The venture’s first offering, Envana Catalyst, is a SaaS solution that helps increase transparency of the environmental impact of drilling, completions, and production operations. It can improve the visibility of greenhouse gas emissions tracking and forecasting companywide and can provide support for actionable recommendations throughout upstream asset life, from planning and design through execution. Envana Catalyst allows customers to choose the methodologies used to estimate emissions from a library of emissions sources tailored to the oil and gas industry, update them as needed, and track any changes.

With its documented API, Envana Catalyst can integrate with existing customer software to automate emissions forecasting and tracking, or users can model emissions manually using the Envana Catalyst interface. Halliburton currently uses Envana Catalyst to help monitor and manage the emissions footprint of its products and services.

“Envana provides breakthrough SaaS emissions management solutions and is the latest example of how innovation adds to sustainability in the oil and gas industry,” said Rami Yassine, senior vice president, Halliburton Drilling and Evaluation division. “Envana Catalyst provides digital solutions to generate actionable recommendations for emissions improvement throughout the asset lifecycle.”

Halliburton Landmark will serve as the channel partner for the new venture by providing sales support through its global relationships and reach. Built on the flexibility and operational fidelity of iEnergy^® hybrid cloud, the Halliburton Landmark secure cloud environment, Envana Catalyst delivers emissions data from planning and operations to users. Envana Catalyst is available both as a standalone solution and, as additional functionality, integrated into E&P workflows within the Halliburton DecisionSpace^® 365 suite of products.

“Landmark’s integration of Envana Catalyst to enhance existing workflows and help mitigate emissions is an industry first,” said Nagaraj Srinivasan, senior vice president of Landmark, Halliburton Digital Solutions, and Consulting. “I’m excited about the impact Envana can have in the rapidly evolving emissions management market.”

Drew Guff, Co-Managing Partner and Chief Investment Officer of Siguler Guff, said, “The formation of Envana could not have come at a better time for the energy industry. Operators can utilize Envana to bridge corporate sustainability with models that are easily integrated from a trusted industry leader.”

PR Panigrahi, Managing Director and Head of Energy Investments of Siguler Guff, added, “We could not be more excited to formally announce Envana’s formation. The energy industry will benefit tremendously from emissions data analytics driven by artificial intelligence and machine learning that will guide short and long-term decision making for responsible energy development.”

More information can be found at www.envana.com.

ABOUT HALLIBURTON

Halliburton is one of the world’s leading providers of products and services to the energy industry. Founded in 1919, we create innovative technologies, products, and services that help our customers maximize their value throughout the life cycle of an asset and advance a sustainable energy future. Visit us at www.halliburton.com; connect with us on Facebook, Twitter, LinkedIn, Instagram and YouTube.

ABOUT SIGULER GUFF

Siguler Guff is a multi-strategy private markets investment firm which has over $16 billion of assets under management, estimated as of December 31, 2022. With over 25 years of experience investing as a firm in the private markets, Siguler Guff seeks to generate strong, risk-adjusted returns by focusing opportunistically on market niches. Headquartered in New York, Siguler Guff maintains offices in Boston, London, Mumbai, São Paulo, Shanghai, Tokyo, Seoul, Hong Kong and Houston, TX.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230223005147/en/

Investor Relations Contact

David Coleman

investors@halliburton.com

281-871-2688

Press Contact

Andrew Knotts

pr@halliburton.com

281-871-2601

Siguler Guff Investor Relations Contact

Daniel Yunger

Kekst CNC

daniel.yunger@kekstcnc.com

212-521-4800

Jeffrey Taufield

Kekst CNC

jeffrey.taufield@kekstcnc.com

212-521-4800

Source: Halliburton Company

FAQ

What is Envana Software Partners, LLC?

Envana Software Partners, LLC is a new company launched by Halliburton and Siguler Guff that focuses on providing emissions management software solutions.

What is the Envana Catalyst solution?

Envana Catalyst is a software-as-a-service (SaaS) tool developed to improve tracking and management of greenhouse gas emissions in the oil and gas industry.

When was Envana Software Partners, LLC launched?

The company was officially launched on February 23, 2023.

How does Envana Catalyst integrate with existing systems?

Envana Catalyst can integrate with customers' existing software using its documented API, allowing for automated emissions forecasting and tracking.

What are the benefits of using Envana's emissions management solutions?

Envana's solutions provide enhanced transparency, actionable insights for emissions reduction, and customizable methodologies for estimating emissions.