Halliburton's $307 Million Trading Day Ranks 323rd Amid Namibia Energy Breakthrough

On May 15, 2025, Halliburton's trading volume reached $307 million, marking a 72.42% increase from the previous day and ranking 323rd in the day's stock market activity. Halliburton's stock price fell by 0.89%, marking the second consecutive day of decline, with a total decrease of 1.27% over the past two days.

Halliburton, in collaboration with Rhino Resources, has successfully completed two exploration wells on Block 2914 within Petroleum Exploration License 85 offshore Namibia. This achievement is significant as it marks the first time such wells have been completed entirely from in-country infrastructure through Halliburton's newly established operational bases in Walvis Bay, Swakopmund, and Lüderitz.

Antoine Berel, vice president of Halliburton Sub-Saharan Africa, highlighted the success as a testament to the power of combining world-class technology, local collaboration, and a shared long-term vision. The newly established infrastructure in Namibia has enabled this discovery, which is expected to unlock the country's energy potential and support its future as an energy hub in Africa.

Travis Smithard, CEO of Rhino Resources, emphasized the dual goals of proving geological potential and delivering long-term benefits for Namibia. The discoveries on Block 2914 are seen as a promising start to building a foundation for Namibia's oil and gas industry, focusing on knowledge and skills transfer, local capacity building, and the upliftment of young Namibians.

In October 2024, Rhino Resources and Halliburton inaugurated the Rhino-Halliburton Technology Centre at the University of Namibia's Southern Campus. This state-of-the-art facility aims to advance geoscience education and research nationwide, representing a long-term investment in Namibia's youth and future human capital in the energy sector.

The collaborative and integrated local-first approach by Halliburton and Rhino Resources underscores their commitment to Namibia and serves as a model for future projects in the country and the region. This success is expected to set a new standard for energy development in the region, attracting international interest in Namibia's offshore basins.