Coterra starts automated fracking

Article Excerpt

COTERRA ENERGY, $28.69, is a buy. The company (New York symbol CTRA; TSINetwork Rating: Extra Risk) (www.coterra.com; Shares outstanding: 736.4 million; Market cap: $21.1 billion; Dividend yield: 2.9%) and Halliburton Energy Services (symbol HAL on New York) have announced the launch of autonomous hydraulic fracturing technology in North America. Before this service, fracture decisions were managed manually while pumping. Notably, the initial rollout of this autonomous service led to a 17% increase in stage efficiency. Based on these results, Coterra has now deployed the service to the remaining completion programs Halliburton executes in the Permian Basin. Coterra Energy is a buy. buy…