As advancements in technology continue to be made, lithium has become increasingly important. The element is used in a wide variety of batteries, such as those used in mobile phones and computers.

Halliburton dropped its share prices by 4.59 percent on Monday to close at $22.02 apiece, as investors repositioned portfolios ahead of its expected earnings release this week.

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 ...

Last month, Halliburton Company (NYSE:HAL) bagged a new contract to design and drill wells for GeoFrame Energy’s geothermal and direct lithium extraction project.

It also won a key contract to design geothermal and direct lithium extraction (DLE) wells in East Texas for GeoFrame Energy, targeting a 2025 demonstration phase.

At the University of Chicago, researchers are developing ways to extract lithium from water sources. The leaders behind the Halliburton and GeoFrame collaboration were thrilled at the potential.

An oil behemoth was recently awarded a contract to design a geothermal-powered lithium mine in Mount Vernon, Texas.

Halliburton won a contract for GeoFrame Energy’s geothermal and direct lithium extraction (DLE) project.