Halliburton Company (NYSE:HAL) hurtling eastwards in expansion mode

Posted by Samantha Donahue August 23, 2013 0 Comment 829 views

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.

Added capacity

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.

The company

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.

About Samantha Donahue

Samantha Donahue is a digital fellow with GDP insider. Samantha earned a Bachelor's degree in Government from Cornell University and later his Master's degree in Journalism from Columbia University. She has also received numerous awards from the Associated Press, Society of Professional Journalists, and other media organizations for many of her exclusive stories. Samantha thrives reporting on breaking news and as a general assignments news reporter.

View all post by Samantha Donahue Visit author's website

Write Your Comment