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Press release from Business Wire

Halliburton Introduces Technology Advancement for Horizontal Completions

Monday, August 15, 2011

Halliburton Introduces Technology Advancement for Horizontal Completions10:00 EDT Monday, August 15, 2011 HOUSTON (Business Wire) -- Halliburton (NYSE: HAL) has deployed the most recent addition to its horizontal completion portfolio. The new RapidFrac™ completion system allows operators to set new standards for fracture completion efficiency and post-fracture production. This innovative horizontal sliding sleeve completion system is a differentiating technology that allows for enhanced reservoir contact. In a changing landscape where operators are drilling longer laterals that require increasingly complex completions, the RapidFrac system delivers several unique differences from the “plug and perforate” system and other similar techniques. The RapidFrac system uses a metering process that enables a single ball to open multiple sleeves isolated within an interval by swellable packers. Each RapidFrac sleeve can be tailored to specific fracture requirements along a horizontal wellbore so as to enhance post-frac production. Up to 90 sleeves can be incorporated into any one horizontal completion, ensuring maximized stimulated reservoir volume. By facilitating continuous pumping, the RapidFrac system reduces stimulation cycle time from days to hours and reduces the volume of water consumed. “The RapidFrac system allows operators to optimize completion design, reduce operational risk, and materially reduce the time to first hydrocarbons,” said Marc Edwards, senior vice president, Halliburton Completion and Production Division. “This technology also enables Halliburton to increase the utilization of its unconventional asset fleet.” Although initial system deployments have occurred in the Bakken Shale with Brigham Exploration and Williams Production Company, this technology has application for shale developments on a global basis. “Brigham's success in the Bakken has been driven by its early adoption of game-changing technologies,” said Lance Langford, executive vice president, Brigham Exploration. “We believe our industry is in the very early stage of developing tools and techniques to optimally exploit the Bakken and working with Halliburton to successfully launch its RapidFrac system is an example of what can be done in this world class resource.” In order to prove this technology with Halliburton, Williams drilled two comparable offset wells. The first was completed with the traditional “plug and perforate” method and the second utilized the RapidFrac system. “The new RapidFrac completion system delivered significant performance benefits,” said William Stenzel, vice president, Williams Williston. “(The) RapidFrac (system) enabled us to complete the well in less than half the time of a “plug and perforate” system, while delivering a stronger early time production performance. This is a major step forward in completion efficiency.” Halliburton continues to develop technical innovations designed to address the efficiency and effectiveness of unconventional hydrocarbon development, while meeting the highest environmental and safety standards. 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 60,000 employees 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 HalliburtonFor Investors:Christian Garcia, 281-871-2688Halliburton, Investor RelationsorFor Media:Zelma Branch,