Halliburton And VoltaGrid Electric Solution Reduces Emissions for Chesapeake Energy Corporation

Rhea-AI Summary

Halliburton Company (NYSE: HAL) and VoltaGrid LLC have successfully deployed an advanced electric fracturing solution under a multi-year contract with Chesapeake Energy Corporation (NASDAQ: CHK). This project, featuring Halliburton's Zeus™ 5,000 horsepower electric pumping unit, aims to reduce emissions by 32% using VoltaGrid's power generation system. The Zeus unit provides 40% higher performance than conventional pumps, delivering over 22 barrels per minute. Chesapeake can now track emissions in real time, enhancing fuel efficiency across operations.

Positive

• Successful deployment of an electric fracturing solution, enhancing operational efficiency.
• 32% reduction in emissions from the electric fracturing system.
• Zeus pumping unit provides 40% higher performance than typical units.
• Chesapeake can track real-time emissions, improving fuel efficiency.

Negative

• None.

Halliburton Company (NYSE: HAL) and VoltaGrid LLC today announced the first successful deployment of an advanced electric fracturing solution. This project is the first pad in a multi-year contract with Chesapeake Energy Corporation (NASDAQ: CHK) with more than 140 stages in the Marcellus. It combines Halliburton’s all-electric fracturing spread featuring the Zeus™ 5,000 horsepower (HHP) electric pumping unit with VoltaGrid’s advanced power generation system. This high-performing solution reduced emissions for Chesapeake by 32% and applied over 25 megawatts of lower-carbon power generation by leveraging Chesapeake’s local field gas network.

“By safely reducing our emissions profile without impacting the reliability and performance of our operations, this partnership has exceeded our expectations and further demonstrates our commitment to leading a responsible energy future as we continue on our path towards achieving net-zero direct emissions,” said Patrick Finney, Chesapeake’s Vice President – Completions.

Chesapeake credited the two technologies for reducing emissions and driving additional fuel savings. Unlike other pumping units that may average around 3,000 HHP, a single Zeus pumping unit delivers 5,000 HHP at over 22 barrels per minute (BPM). Halliburton’s all-electric spread features a newly designed large-bore, dual-manifold trailer, which allows the Zeus pumps to achieve higher rate capacities with fewer failure points. With its electric-based powertrain and industry leading pump technology, the Zeus pumping unit delivers 40% higher performance than conventional pumps. This spread also provides electric blending, wireline, and ancillary equipment.

“Halliburton’s Zeus fracturing operation exceeds expectations of what is possible with electric fracturing technology,” says Michael Segura, vice president of Halliburton Production Enhancement. “Being able to sustainably deliver higher performance on a prolonged basis reflects the performance and reliability built into this electric pumping equipment.”

Using VoltaGrid’s emissions portal, Chesapeake can track and analyze real-time emissions and carbon intensity throughout the completions operation, allowing the operator to maximize fuel efficiency and minimize emissions.

“Chesapeake is the first operator to use the VoltaGrid system on an electric frac operation,” said Nathan Ough, CEO of VoltaGrid. “The exceptional performance of VoltaGrid allowed Chesapeake to quickly scale power generation to meet the high intermittent demands of a modern completions design.”

About Halliburton

Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry. With approximately 40,000 employees, representing 130 nationalities in more than 70 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.

About VoltaGrid LLC

VoltaGrid is an advanced energy management and generation company that has developed an innovative platform to provide power, energy storage, and emissions reductions for the pressure pumping, remote mining, utility, and distributed generation industries. VoltaGrid’s fully integrated artificial intelligence platform provides live emissions tracking, asset carbon intensity, automated back-office management, and ESG reporting on a centralized database. Learn more at voltagrid.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210804005485/en/

FAQ

What is the recent announcement by Halliburton (HAL) and VoltaGrid?

Halliburton and VoltaGrid announced the successful deployment of an advanced electric fracturing solution, marking the first pad in a multi-year contract with Chesapeake Energy.

How much did Chesapeake Energy reduce emissions using Halliburton's technology?

Chesapeake Energy achieved a 32% reduction in emissions through the use of Halliburton's electric fracturing solution.

What is the horsepower of Halliburton's Zeus pumping unit?

The Zeus pumping unit has a horsepower of 5,000.

What performance improvement does the Zeus unit offer over standard pumps?

The Zeus unit offers 40% higher performance compared to conventional pumping units.

What technology does Chesapeake use to track emissions in real-time?

Chesapeake uses VoltaGrid's emissions portal for real-time emissions tracking.