UPDATE 1-Halliburton wins Exxon contract in Iraq

HOUSTON, Oct 14 (BestGrowthStock) – Oilfield services company
Halliburton Co (HAL.N: ) said Thursday it received a contract to
refurbish wells in southern Iraq by Exxon Mobil Corp
(XOM.N: ).

Under the contract, Halliburton will provide on-site
logistics and technical support for both rigless and
rig-assisted workovers, a procedure used to increase production
from existing wells in Iraq’s West Qurna Phase One field.

A spokeswoman for Halliburton declined to provide
additional details.

Exxon and its partner Royal Dutch Shell Plc (RDSa.L: ) plan
to more than double the number of new wells in West Qurna Phase
One to reach its projected production target, an Exxon
executive said last month.

Exxon aims to drill two to three times the current 370
wells in the field as part of its development plan for West
Qurna to reach plateau output of 2.325 million barrels per day,
James Adams, Exxon’s Iraq vice president, said.

Shares of Halliburton were unchanged at $35.63 in morning
trading on the New York Stock Exchange.
(Reporting by Anna Driver, editing by Gerald E. McCormick)

UPDATE 1-Halliburton wins Exxon contract in Iraq