Monday, October 20, 2008

Halliburton HAL 3rd Quarter Earnings .76EPS - Montney Shale, Bakken Shale

Halliburton ( HAL ) released 3rd quarter earnings this morning 10/20/08 and provided updates on the Montney Shale of Canada and the Bakken Shale of North Dakota.

For the third quarter, HAL earned .76 Earnings per share.

In Canada's Montney shale play, Halliburton completed its 50th horizontal CobraMax(R) job. The CobraMax(R) process now averages less than eight hours per zone from cut to cut, an improvement from over 24 hours on earlier wells.

Halliburton has set its 900th Swellpacker(R) isolation system in horizontal Bakken wells in the Williston Basin. The use of this packer system has allowed operators to compartmentalize their wellbores for fracture completions resulting in improved production. Delta Stim(R) sleeves are also used with the Swellpacker(R) systems greatly reducing the time required to complete a well.

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