Halliburton Signs MOU with Pertamina to Revitalize Aging Indonesian Oil Fields Using Advanced Stimulation Tech
Halliburton signed an MOU with PT Pertamina to deploy advanced well construction and stimulation technologies to revitalize aging Indonesian oil fields under an unconventional completions program. In Q4, the company posted $589M profit (70 cps) on $5.657B revenue, 7% above forecasts, which led analysts to lift price targets to $36–$40.
1. Partnership with PT Pertamina
Halliburton and PT Pertamina formalized a memorandum of understanding to integrate unconventional completions in mature Indonesian fields. The agreement focuses on deploying advanced well construction and stimulation technologies to boost recovery rates and extend field life.
2. Q4 Financial Performance
In the fourth quarter, Halliburton reported $589 million in profit (70 cps) on $5.657 billion in revenue, surpassing consensus earnings by 7% and revenue estimates by 5%. Positive results prompted Stifel and Susquehanna analysts to raise price targets to a range of $36–$40.
3. Share Price Reaction
Following the announcement, Halliburton shares traded down 0.6% to $34.90 in premarket trading but remained near a 52-week high of $35.85, reflecting investor focus on future project potential.