Halliburton Releases CYPHERSM 2.0 Seismic-to-Stimulation Service

  Halliburton Releases CYPHERSM 2.0 Seismic-to-Stimulation Service

                        Lowers Operators’ Cost per BOE

Business Wire

HOUSTON -- June 23, 2014

Halliburton (NYSE: HAL) announces the release of the CYPHER^SM 2.0
Seismic-to-Stimulation Service, a proprietary and collaborative workflow that
links geoscience and reservoir, drilling, and completion engineering to allow
operators to better predict and produce unconventional reserves. The CYPHER
2.0 service builds on the complete full-field solution and provides enhanced
capabilities through innovative software applications allowing operators to
optimize the development of their unconventional reservoirs and reduce their
cost per barrels of oil equivalent (BOE).

Powered by Landmark’s DecisionSpace® next-generation earth modeling solution,
the workflow is unique to the industry in that it is capable of updating
dynamically and iteratively with the seismic and well data required to model
the structure, rock and fluid properties. Halliburton’s petroleum systems
modeling technology defines the distribution of hydrocarbons in the
unconventional reservoir to aid well placement, while the company’s integrated
formation evaluation module identifies the sweet spots for optimizing the
spacing of perforation clusters.

Key scientific and technological advances in the CYPHER 2.0 service include
modelling the interaction of the reservoir’s natural fracture networks with
the fractures induced by the hydraulic fracturing process. This results in a
more accurate fracture network model with which to simulate the production
performance of the completion design. Critical operational factors can then be
adjusted in real time between stages during the fracture treatment to further
optimize well performance. Another  advancement is the ability to evaluate,
predict and alter perforation cluster efficiency.Leveraging these models to
rapidly evaluate the production performance of different well placement and
completion design options, Halliburton is able toquickly and iteratively
optimize the development plans for operators’ shale assets.

“Since we released the CYPHER servicein September 2013, we have seen
tremendous customer interest and uptake,” said Jim Brown, Halliburton’s
President of the Western Hemisphere. “Projects on shale assets in several
North American basins have delivered a 35 percent production increase on
average. The CYPHER 2.0 service is a step-change improvement in our ability to
deliver better wells for our customers at a lower cost per BOE.”

Devon Energy first applied the CYPHER service in the Grasslands Area of the
Northern Barnett Shale. After seeing improved production results and EURs with
far less production variations between wells, Devon has chosen to incorporate
the CYPHER service in the Eagle Ford Shale as part of their technology efforts
to help them better understand the reservoir and also aid in the stimulation
design to help improve their fracture efficiency and effectiveness.

Synergy Resources Corporation’s Chief Operating Officer Craig Rasmuson had
this to say after using the CYPHER service: “Halliburton increased the 30 to
90-day production rates with its CYPHER service through prior planning and
diligent management of the drilling processes, ultimately increasing the EURs
and reserves for Synergy which is why we wholeheartedly endorse the CYPHER
service.”

The CYPHER service is deployed to all major shale developments in North
America and many key international markets through multi-disciplined technical
teams, with more than 300 technical professionals trained on major elements of
the workflow.

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 80,000 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. Connect with Halliburton on Facebook, Twitter
LinkedIn, Oilpro and YouTube.

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
 
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