Tuesday, September 21, 2021
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Halliburton forms energy joint venture in China

🕐 1 min read

NEW YORK (AP) — Halliburton said Friday it is entering its first joint venture in China that will use hydraulic fracturing, or fracking, to unleash energy.

The Houston company, which provides drilling services to oil and gas operators, said it will create the joint venture with an affiliate of SPT Energy Group. The venture will focus on hydraulic fracturing and production enhancement services in Xinjiang, China.

Halliburton said the companies have worked together for seven years.

Hydraulic fracturing frees gas from deep rock deposits by injecting wells with chemical-laden water at high pressure.

Halliburton Co. shares lost 59 cents to $68.76 in midday trading. Its shares are up more than 55 percent over the past year.  

Robert Francis
Robert is a Fort Worth native and longtime editor of the Fort Worth Business Press. He is a former president of the local Society of Professional Journalists and was a freelancer for a variety of newspapers, weeklies and magazines, including American Way, BrandWeek and InformatonWeek. A graduate of TCU, Robert has held a variety of writing and editing positions at publications such as the Grand Prairie Daily News and InfoWorld. He is also a musician and playwright.

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