Halliburton lines up $500 million to fund refracking of oil and gas wells

Halliburton has tapped BlackRock Inc. for $500 million to help fund refracking of existing shale wells, reports Maritime Global News. The news site says it is the first such move by a major oilfield services provider at a time when companies are shying away from drilling new oil and natural gas wells. "Though a relatively small market today, we see a significant runway for ‘refrac’ in the future," Halliburton President Jeffrey Miller said during a post-earnings call.