Halliburton Company (NYSE:HAL) hurtling eastwards in expansion mode
Halliburton Company (NYSE:HAL) is making massive efforts to expand the company’s production capacities. Very recently, it opened-up a new technology and manufacturing centre in the Senai region in Malaysia. This center is expected to help the company serve the increasing needs of its numerous customers for high-quality products across global markets and especially in the Eastern hemisphere.
This particular expansion of the company’s operations will add about 105,960 sq ft of production-space to HAL. This would provision the addition of higher-quality products to its portfolio. Addition of these products will include packers, service tools, subsurface flow, screen technology, tubing retrieval safety-valves, float equipment and swell.
The senior vice-president of Operation for the Asia Pacific region had stated that the expansion projects such as these demonstrate that the company is committed to the growing needs of its customers in the Eastern Hemisphere. The expectation is that this added capacity will enable the company to add muscle to its presence in products that are related to unconventional resources development, deep water-usage and mature assets.
Latest trading session
In Thursday’s trading session, Halliburton Company (NYSE:HAL) dipped by 1.79%. The opening price of the shares was $47.19 which touched an intraday high of $47.97 and closed at $47.01. More than 22.19 shares were traded on Wednesday while the average volume of shares traded over a 30 day period was 9.48M. The company has a market cap of $43.69 billion. The company’s 52- week low is $29.83 and its 52-week high is $47.67 /share.
HAL is essentially an oilfield-services company. It provides products and services to the energy industry that is related to exploring, developing and producing oil and natural gas. It also serves independent oil and natural gas corporations across the world as well as in the country. The company operates in two business segments- the Evaluation segment and Completion and Production and Drilling.