Halliburton 2015 Annual Report Download - page 12

Download and view the complete annual report

Please find page 12 of the 2015 Halliburton annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 108

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108

Technology
Halliburton 2015 Annual Report
www.halliburton.com
10
The imperative to maximize production and reduce the cost per barrel of oil equivalent
led Halliburton’s customers to adopt our new technologies more rapidly even as activity
declined with lower commodity prices. New product revenue as a percent of total sales
once again increased over the prior year, continuing a multi-year trend.
Halliburton’s technologies help customers improve project economics and maximize the
value of their oil and gas assets by increasing operating efficiency, reducing non-productive
time, and lowering the cost to explore and develop new reserves, maximize recovery and
access reserves in difficult environments.
Halliburton employs a disciplined, multi-stage, gate research program that leverages
collaboration with our customers and programs to elevate ideas developed in the field,
helping us to be among the more efficient innovators in any industry. In 2015, Halliburton
secured new patents at a research and development cost of less than $1 million per patent.
This level of R&D efficiency places Halliburton in the same range as other top global U.S.
patent leaders and indicates a tremendous return on intellectual property.
Halliburton’s disciplined approach to developing differentiating solutions solidifies our
relationships with the world’s top energy producers.
Buoyancy Assisted Casing Equipment
(BACE™) Assembly
Winner of 2015 Hart’s Meritorious Engineering
Achievement Award
Buoyancy Assisted Casing Equipment (BACE)
assembly enables operators to run casing to the
bottom of directional or horizontal wellbores.
By trapping air or lightweight fluid and “floating”
the casing, Halliburton helps minimize the risk
of buckling or stuck casing in extended reach
horizontal wells. In current market conditions,
the BACE assembly helps make certain shale
field-development programs economically
feasible by potentially adding thousands of
feet to the productive zone of the well.
Illusion® Dissolvable Frac Plug
Illusion is a high-performance frac plug
that provides zonal isolation for stimulation
treatments up to 10,000psi. It combines
Halliburton’s leading frac plug designs with the
most advanced dissolvable metal and rubber
materials. This fully dissolvable plug helps
reduce the risk, cost and time associated with
conventional plug removal and upon complete
dissolution, provides the entire inner diameter
of the wellbore for future operations.