Repsol Accelerates Digital Journey with Halliburton Landmark to Automate and Streamline Its Well Design Process

Rhea-AI Summary

Halliburton Company (NYSE: HAL) announced that Repsol has adopted its Landmark DecisionSpace® 365 Well Construction Suite as the preferred digital solution for automating well design processes. This implementation enhances scalability, flexibility, and collaboration, while integrating machine learning and AI into drilling operations. The suite helps standardize well design, automate routines, and minimize downtime. Halliburton's cloud technologies, according to senior VP Nagaraj Srinivasan, optimize planning and reduce costs, enabling Repsol to improve efficiency. Repsol's Drilling Manager Roberto Tello emphasized the benefits of shortened planning times and reduced non-productive time.

Positive

• Repsol has chosen Halliburton's DecisionSpace® 365, enhancing well design efficiency.
• Implementation boosts scalability, flexibility, and third-party collaboration.
• Use of AI and machine learning improves drilling operations.
• Standardization of processes reduces non-productive time and planning time.

Negative

• None.

HOUSTON--(BUSINESS WIRE)-- Halliburton Company (NYSE: HAL) today announced that Repsol implemented the Halliburton Landmark DecisionSpace^® 365 Well Construction Suite as its preferred digital solution to automate and streamline its well design process. The deployment provides scalability, flexibility, integration, and third-party collaboration and accelerates the adoption of machine learning and artificial intelligence across the drilling and wells organization.

The Well Construction Suite and Digital Well Program^® help Repsol standardize its well design process and automate routine work to increase efficiency and minimize down time. The SmartDigital^® co-innovation service delivers tailored workflows and new components to further reduce cycle time and provide greater data quality throughout the well workflow process.

“Halliburton Landmark’s cloud technologies reduce planning time and automate workflows throughout the value chain,” said Nagaraj Srinivasan, senior vice president of Landmark, Halliburton Digital Solutions, and Consulting. “DecisionSpace 365 applications on iEnergy^® hybrid cloud allow Repsol to re-engineer their business processes and adapt them to the cloud for simplified global operations and lowest Total Cost of Ownership.”

“We are excited to streamline our digital processes with Halliburton,” said Roberto Tello, Drilling Manager, Repsol. “The DecisionSpace 365 systems will contribute to shorten our well planning time, automate engineering calculations, and reduce our non-productive time.”

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 REPSOL

Repsol is a global multi-energy company that is leading the energy transition and has set itself the goal of achieving zero net emissions by 2050. It is present throughout the energy value chain, employs 24,000 people, distributes its products in more than 90 countries and has 24 million customers.

To achieve net zero emissions by 2050, Repsol is committed to a model that integrates all technologies for decarbonization, based on improving efficiency, increasing its renewable electricity generation capacity, the production of renewable fuels, the development of new solutions for customers, the circular economy and the promotion of cutting-edge projects to reduce the industry's carbon footprint.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230405005202/en/

Investor Relations Contact

David Coleman

investors@halliburton.com

281-871-2688

Press Contact

Andrew Knotts

pr@halliburton.com

281-871-2601

Source: Halliburton Company

FAQ

What is Halliburton's latest announcement regarding Repsol?

Halliburton announced that Repsol has implemented its Landmark DecisionSpace® 365 Well Construction Suite to automate and streamline its well design process.

How will Repsol benefit from Halliburton's DecisionSpace® 365?

Repsol will benefit from increased efficiency, reduced planning time, and minimized downtime through the automation of its well design processes.

What features does Halliburton's DecisionSpace® 365 offer?

The DecisionSpace® 365 offers scalability, flexibility, machine learning capabilities, and integration with third-party tools to enhance well construction operations.

How does Halliburton's technology impact drilling operations?

The technology optimizes planning, automates workflows, and reduces operational costs, significantly improving overall drilling efficiency.

What are the implications of this partnership for Halliburton's stock (HAL)?

The partnership enhances Halliburton's technological offerings and market position, potentially driving positive investor sentiment towards HAL stock.