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Press release from Business Wire

Halliburton Develops Multi-Zone Completion Technology

<p class='bwalignc'> <i>Chevron completes three wells in the Gulf of Mexico's Lower Tertiary with Halliburton's innovative multi-zone completion technology</i> </p>

Tuesday, April 23, 2013

Halliburton Develops Multi-Zone Completion Technology

09:00 EDT Tuesday, April 23, 2013

HOUSTON (Business Wire) -- 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.

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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