Halliburton awarded LSTK contracts by Aramco for 285 onshore wells

1 min read | Published on 16 Jul 2026, 06:37 PM |Updated on 16 Jul 2026, 07:13 PM

Reviewed by

Shriram SScanX News Team

Key Highlights

Halliburton secured multi-year lump sum turnkey contracts from Aramco for approximately 285 wells across multiple onshore fields in Saudi Arabia. The contracts, which have a three-year base term with extension options, cover oil re-entry, drilling, completions, and workovers. This integrated execution model aims to maximize asset value and support Aramco's efficiency goals.

*this image is generated using AI for illustrative purposes only.

Halliburton was awarded lump sum turnkey (LSTK) contracts by Aramco for multiple onshore fields in the Kingdom of Saudi Arabia, expanding its role in the program through integrated well delivery at scale. The awards cover approximately 285 planned wells, reinforcing the company's ability to support Aramco’s objectives to maintain efficiency in its onshore portfolio.

The multi-year contracts encompass a fully integrated execution model, including oil re-entry operations, drilling, completions, and workovers. This approach aims to maximize asset value through operational consistency and timely well delivery. "These awards mark a significant milestone for Halliburton in the Kingdom and strengthen the Company’s position for future growth under the program," said Rami Yassine, president, Eastern Hemisphere, Halliburton. "The scope reflects the strength of our drilling technology and our proven ability to efficiently execute complex, highly integrated operations."

Contract Details

The agreements feature a three-year base term, with options to extend for up to two additional years. Halliburton will execute the program with a focus on safety, quality, and disciplined execution, aligning with Aramco’s operational standards. The following table outlines the key aspects of the contracts:

Contract Aspect	Details
Contract Type	Lump Sum Turnkey (LSTK)
Scope	Oil re-entry, drilling, completions, workovers
Planned Wells	Approximately 285
Base Term	3 years
Extension Option	Up to 2 years

The integrated delivery model underscores Halliburton’s strategy to grow through large-scale operational partnerships in key energy markets.

Disclaimer: This article is AI-generated using data from ViewTrade. ScanX is not liable for any inaccuracies.

How will the lump sum turnkey model impact Halliburton's profit margins compared to its traditional day-rate contracts?

What specific drilling technologies will be prioritized to meet the operational consistency required for 285 wells?

Could this expanded partnership lead to similar integrated service agreements with Aramco in their offshore or international operations?

Piper Sandler upgrades Halliburton to Overweight, raises target to $43

0 min read | Published on 08 Jul 2026, 07:41 PM |Updated on 14 Jul 2026, 03:29 PM

Reviewed by

Radhika SScanX News Team

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Key Highlights

Piper Sandler analyst Derek Podhaizer upgraded Halliburton to Overweight from Neutral and raised the price target to $43 from $40. This contrasts with Susquehanna, which maintained a Positive rating but lowered its target to $42.

*this image is generated using AI for illustrative purposes only.

Piper Sandler analyst Derek Podhaizer has upgraded Halliburton (NYSE: HAL) from Neutral to Overweight and raised the price target to $43 from $40. This rating change signals increased confidence in the energy company's stock performance and valuation potential. The adjustment follows a separate move by Susquehanna, which maintained a Positive rating but lowered its price target on the stock.

Rating and Price Action

The upgrade to Overweight reflects a more bullish stance compared to the previous Neutral rating. The increased price target of $43 suggests an expected upside from the prior objective of $40. Meanwhile, Susquehanna analyst Charles Minervino kept a Positive rating on Halliburton but reduced the price target to $42 from $45, indicating a recalibration of valuation expectations despite continued optimism.