Halliburton Joins GeoFrame's Lithium and Geothermal Project in Texas

Halliburton Company HAL has secured a significant contract to support GeoFrame Energy’s direct lithium extraction and geothermal project in East Texas. The company will plan and design the first demonstration wells in the Smackover Formation, with operations scheduled to begin in late 2025. The project aims to produce around 83,500 metric tons of battery-grade lithium carbonate each year, sufficient to fully meet current U.S. demand. This milestone is expected to strengthen domestic lithium production and reduce dependence on foreign supply chains.Halliburton will lead the drilling phase by designing, constructing and operating the demonstration wells and play a central role in scaling the project to full field development.GeoFrame’s Vision Combined With Halliburton’s ExpertiseGeoFrame’s East Texas project aims to be the first in the United States to deliver battery-grade lithium carbonate from the Smackover Formation. The facility is designed not just for lithium production, but also as a model for sustainable mining. GeoFrame plans to use geothermal brine to generate zero-emission electricity through binary cycle generators. This renewable power will drive the entire lithium production process, with surplus energy sold to the grid.Halliburton, on the other side, with over a century of well construction expertise, a solid track record in the Smackover Formation and a strong commitment to innovative energy solutions, is uniquely positioned to advance GeoFrame’s vision.HAL’s Strengthened Position in Competitive MarketHalliburton’s latest achievement highlights the importance of the growing convergence between energy services companies and advanced technology solutions providing companies. As the company expands growth initiatives through new projects, it sets a precedent for the growing technological edge. Its financial outlook is bolstered by securing new contracts, creating a positive trajectory for the company and stakeholders.HAL’s Zacks Rank & Key PicksHouston, TX-based Halliburton is one of the largest oilfield service providers in the world, offering a variety of equipment, maintenance, and engineering and construction services to the energy, industrial and government sectors. Currently, HAL has a Zacks Rank #5 (Strong Sell).Investors interested in the energy sector might look at some better-ranked stocks like BKV Corporation BKV, Subsea 7 S.A. SUBCY and Oceaneering International, Inc. OII. While BKV and Subsea 7 currently sport a Zacks Rank #1 (Strong Buy) each, Oceaneering carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.BKV Corporation is an energy company that produces natural gas from its owned and operated upstream businesses. The Zacks Consensus Estimate for BKV’s 2025 earnings indicates 338.18% year-over-year growth.Subsea 7 operates as an engineering, construction and services contractor to the offshore energy industry worldwide. The Zacks Consensus Estimate for SUBCY’s 2025 earnings indicates 95.52% year-over-year growth.Houston, TX-based Oceaneering International is one of the leading suppliers of offshore equipment and technology solutions to the energy industry. The Zacks Consensus Estimate for OII’s 2025 earnings indicates 57.02% year-over-year growth.Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Halliburton Company (HAL): Free Stock Analysis Report Oceaneering International, Inc. (OII): Free Stock Analysis Report Subsea 7 SA (SUBCY): Free Stock Analysis Report BKV Corporation (BKV): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks