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Halliburton Company (NYSE:HAL) and Core Laboratories Inc. (NYSE:CLB) announced a strategic alliance aimed at expediting the delivery of comprehensive digital rock data solutions in the U.S.
The collaboration promises to reduce the delivery time from months to weeks, offering insights even as full petrophysical laboratory measurements are underway.
Core Lab and Halliburton's partnership combines their strengths in reservoir technologies and digital rock analysis, promising innovative and accurate insights at various scales.
"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," commented Alastair Crombie, Vice President, Reservoir Description, Core Laboratories.
In 2023, Halliburton joined Core's consortium to expedite CO2 trapping analysis, meeting the Environmental Protection Agency's strict deadlines for carbon storage projects.
Price Action: HAL shares are trading higher by 4.25% at $40.33, and CLB higher by 4.11% at $23.58 on the last check Monday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
