Halliburton (HAL) and Coterra Energy (CTRA) launched an autonomous hydraulic fracturing program in North America.
Coterra is the first operator to automate its hydraulic fracturing design and execution projects fully. The Octiv Auto Frac service adds new features to Halliburton's Zeus fracturing platform and its electric pumping units and fracture monitoring service, the companies said.
"The initial rollout of this service led to a 17% increase in stage efficiency," the companies said Monday in a statement. "Based on these results, Coterra deployed the Octiv Auto Frac service to its remaining completion programs that Halliburton executes in the Permian Basin."
Financial details weren't disclosed.
Halliburton shares rose 1.2% in recent Monday trading, and Coterra gained 1.5%.
Price: 28.00, Change: +0.32, Percent Change: +1.16
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