Halliburton Co. said it has been awarded an integrated services contract with Petrobras for pre-salt development in the Santos Basin on July 31.
The two-year and six month contract will provide drilling and completion services to drive greater efficiency by applying pre-salt expertise and integrating multiple product offerings and technologies.
“We are pleased to win this work and to collaborate with Petrobras to provide a tailored application of Halliburton technology,” Anouar Fraija, vice president of Halliburton Brazil, said. “This contract is a testament to our continuous commitment to safety, superior service quality, and helping operators maximize their asset value.”
Halliburton has an established track record in Brazil’s pre-salt fields, which have some of the most complex wells ever drilled, and require a broad scope of technologies and capabilities to achieve economical and operational success. Halliburton also maintains a technology center in Rio de Janeiro, which serves as a global center of expertise for deepwater innovation and training. The center’s capabilities allow Halliburton to translate offshore knowledge into new technologies that reduce uncertainty and increase efficiency and reliability.
As part of creating value, Parsley Energy is also divesting what it called “tail-end inventory” in the Southern Midland Basin for about $170 million.
Sustained lower oil prices may lead to Permian consolidation, the return of tough times to other shale plays and U.S. E&Ps helping rebalance global inventories.
For years, the hinterlands of the Permian Basin have suffered, yet E&Ps in the Delaware and Midland basins are returning to the periphery of the play, and many of them have something to prove—or at least prove up.