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Halliburton Wins bp Contract for Bumerangue Deepwater Field in Brazil

Halliburton (NYSE: HAL) has secured an integrated services contract from bp for the first appraisal campaign at the Bumerangue field offshore Brazil, strengthening the oilfield-services company's position in the strategically important deepwater market.

The contract covers a comprehensive package of drilling and reservoir-evaluation services designed to accelerate appraisal of bp's Bumerangue discovery. Financial terms of the award were not disclosed.

Why the Contract Matters for Halliburton

The award gives Halliburton exposure to an important deepwater appraisal program as bp evaluates the commercial potential of its Bumerangue discovery.

Halliburton will combine multiple drilling and evaluation services into an integrated execution model, reducing operational complexity and helping bp move more quickly through the appraisal process. Its LOGIX automation and remote-operations technology will also be deployed to improve drilling efficiency and consistency.

Digital technology is a central part of the contract. Halliburton will use data, AI and advanced drilling technologies to provide real-time insights across well planning, drilling, execution and reservoir evaluation.

Deepwater Brazil Remains a Key Opportunity

Brazil is one of the world's most important offshore oil and gas markets, making major appraisal and development programs strategically significant for global oilfield-service providers.

For Halliburton, the bp award reinforces its competitive position in complex deepwater projects and demonstrates its ability to combine drilling, reservoir evaluation, automation, software and local expertise under a single contract.

The immediate financial contribution was not disclosed, but successful appraisal of Bumerangue could potentially create additional service opportunities if bp ultimately moves the field toward development and production.
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Author
WS Investor 08-25-26
Halliburton reported third-quarter 2025 revenue of $5.6 billion, with net income of $18 million ($0.02 per diluted share) and adjusted net income of $496 million ($0.58 per share). The company posted an adjusted operating margin of 13% and generated $488 million in operating cash flow and $276 million in free cash flow, while repurchasing about $250 million in shares.

CEO Jeff Miller said Halliburton achieved solid performance despite market challenges, citing strong execution and international growth. He noted that the company took actions expected to deliver $100 million in quarterly savings, reset its 2026 capital budget, and idled underperforming equipment.

Miller emphasized continued discipline in capital management and technology investment, adding that Halliburton’s “Maximize Value” strategy in North America—focused on returns and technology leadership—positions the company for sustained long-term performance.
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Author
Global Finance News 10-21-25
Chevron and Halliburton Launch Intelligent Hydraulic Fracturing in Colorado

Chevron U.S.A. Inc. and Halliburton have developed a closed-loop, autonomous hydraulic fracturing process in Colorado that adjusts in real-time using subsurface feedback. The system, built on Halliburton’s ZEUS IQ™ platform and Chevron’s proprietary algorithms, enhances operational efficiency and asset performance by automating stage execution without human intervention. The new process represents a significant advancement in digital automation for shale and tight rock formations, enabling adaptive, feedback-driven completions that improve consistency, reduce downtime, and optimize energy delivery into the wellbore.
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Author
Global Finance News 06-12-25
Halliburton reported Q4 2024 net income of $615 million ($0.70 per diluted share) and revenue of $5.6 billion. Full-year revenue remained steady at $22.9 billion, while operating income totaled $3.8 billion. Free cash flow for the year reached $2.6 billion, with over $1.6 billion returned to shareholders through dividends and share buybacks.

In Q4, North America revenue declined 7% to $2.2 billion due to reduced stimulation activity, while international revenue grew 3% to $3.4 billion, driven by strong performance in the Middle East and Europe. The Completion and Production segment generated $3.2 billion in revenue, while Drilling and Evaluation contributed $2.4 billion.

Halliburton introduced advanced technologies, including the Intelli well intervention services and iCruise® Force system, and highlighted future growth through innovation and operational efficiency. The company remains confident in its long-term outlook despite near-term North American challenges.
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Author
The Investor 01-23-25