Halliburton Develops Multi-Zone Completion Technology

  Halliburton Develops Multi-Zone Completion Technology

  Chevron completes three wells in the Gulf of Mexico’s Lower Tertiary with
          Halliburton’s innovative multi-zone completion technology

Business Wire

HOUSTON -- April 23, 2013

Halliburton (NYSE: HAL) announced today the successful completion of three
wells in the Deep Water Gulf of Mexico utilizing Halliburton’s Enhanced
Single-Trip Multizone (ESTMZ™) FracPac™ System.

ESTMZ™ downhole tool system enables the operator to stimulate and gravel pack
multiple production zones in a single trip. Designed for use in Dee Water and
Ultra-Deep Water offshore completions, the ESTMZ™ system allows the highest
treating rate with the greatest volume of proppant in the industry.

Halliburton developed the multi-zone completion technology in collaboration
with Chevron U.S.A. Inc. The two companies conducted numerous system
integration tests and two field trials to prove the technology.

The time savings realized for each of the three Chevron-operated wells
completed with the ESTMZ™ system averaged 18 days, equating to approximately
$22 million.

“ESTMZ™ system allows more reservoir to be stimulated in a shorter amount of
time, thus increasing efficiency, reliability and production, which is key to
the success of the Lower Tertiary,” said Ron Shuman, Senior Vice President of
Halliburton’s Southern and Gulf of Mexico regions.

“In addition, this system allows us to deliver a very aggressive stimulation
with rates up to 45 barrels per minute and volumes greater than 400,000 pounds
of 16/30 high strength proppant. We deliver this with weighted frac fluid and
10,000 horsepower per interval for up to five intervals, providing a total
cumulative proppant volume of greater than two million pounds per well with
one service tool. Having to make multiple runs in and out of the wellbore
equates to a large expense for operators. The ‘single trip’ element of this
system provides significant time savings with improved reliability and better
asset optimization,” Shuman concluded.

Providing wellbore assurance through various critical operations such as
wellbore cleanout, completion services, pumping and fluids also contributed to
the success of these three wells. This integrated approach in planning and
execution mitigated risks while promoting efficiency and providing an optimal
conduit for the reservoir to flow.

The proven reliability of Halliburton's ESTMZ™ tool system and the continual
evolution of these smart technologies are critical to the changing landscape
in the Gulf of Mexico. To date, Halliburton has successfully deployed nearly
20 ESTMZ™ systems around the globe including the Asia Pacific region.

About Halliburton

Founded in 1919, Halliburton is one of the world’s largest providers of
products and services to the energy industry.With more than 72,000 employees,
representing 140 nationalities in approximately 80 countries, the company
serves the upstream oil and gas industry throughout the lifecycle of the
reservoir – from locating hydrocarbons and managing geological data, to
drilling and formation evaluation, well construction and completion, and
optimizing production through the life of the field. Visit the company’s
website at www.halliburton.com.

Contact:

Halliburton
For Investors:
Kelly Youngblood, 281-871-2688
Investor Relations
investors@halliburton.com
or
For Media:
Cathy Mann, 281-871-2601
Global Marketing & Strategy
pr@halliburton.com