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Halliburton Company (NYSE:HAL) and Core Laboratories Inc. (NYSE:CLB) today announced a strategic collaboration in the U.S. to compress the delivery time of cutting-edge comprehensive digital rock data solutions from months to weeks, even while full petrophysical laboratory measurements are in progress. This collaboration combines Core Lab's industry-leading expertise in reservoir description and optimization technologies with Halliburton's specialization in pore-scale digital rock analysis.
The collaboration facilitates the seamless integration of best-in-class digital rock characterization at a nano, micro and macro level, which will enable U.S. clients to run pore-scale simulations in parallel with physical laboratory experiments. These enhancements will drive the accuracy and innovation of new and existing digital rock characterization workflows.
"Core Lab is excited about this collaboration with Halliburton's digital rock services", said Alastair Crombie, Vice President, Reservoir Description, Core Laboratories. "Leveraging both Halliburton's and Core Lab's advanced techniques, we can deliver innovative and comprehensive digital rock characterization solutions that set us apart in the industry."
"Digital rock simulations empower petrophysicists, engineers, and geologists to dynamically evaluate reservoir characterization models while they await the completion of traditional lab measurements, which often takes months," said Chris Tevis, Vice President, Wireline and Perforating, Halliburton. "Our collaboration with Core Laboratories will empower reservoir characterization experts to gain critical insights into their assets much earlier in the assessment process, significantly reducing inherent risks and uncertainties."
In 2023, Halliburton joined Core's Carbon Capture and Sequestration Consortium. This consortium allows technical teams from member companies to share expertise and datasets related to digital rock analysis and petrophysical measurements. This allows the companies to develop innovative workflows that expedite the analysis timeline for quantifying the potential for CO2 trapping, a critical need considering the short permit deadlines set by the Environmental Protection Agency for domestic carbon storage projects.
