Halliburton Inks Drilling Services Pact With Var Energi For Exploration Across Norwegian Continental Shelf
Portfolio Pulse from Nabaparna Bhattacharya
Halliburton Company (NYSE:HAL) plans to sign a long-term strategic pact with Var Energi ASA (OTC:VARRY) for drilling services related to exploration and production drilling across the Norwegian Continental Shelf. The deal will last five years, with options for an additional four years.
June 09, 2023 | 11:20 am
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POSITIVE IMPACT
Halliburton plans to sign a long-term strategic pact with Var Energi for drilling services across the Norwegian Continental Shelf, potentially boosting its revenues.
The strategic pact with Var Energi will provide Halliburton with a long-term revenue stream from drilling services. This partnership will likely have a positive impact on Halliburton's stock price in the short term as it demonstrates the company's ability to secure significant contracts and expand its operations.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Var Energi enters a long-term strategic pact with Halliburton for drilling services across the Norwegian Continental Shelf, potentially improving its exploration and production capabilities.
The strategic pact with Halliburton will provide Var Energi with access to Halliburton's extensive experience and capabilities in drilling services. This partnership will likely have a positive impact on Var Energi's stock price in the short term as it demonstrates the company's commitment to growth and value creation through collaboration with industry leaders.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100