Halliburton announced a partnership with Deep Isolation Nuclear, Inc. to launch a full‑scale, at‑depth demonstration program for deep borehole nuclear waste disposal. The groundbreaking ceremony took place on January 28, 2026 at Halliburton’s Drilling Technology Facility in Cameron, Texas, and the program will test Deep Isolation’s Universal Canister System in collaboration with Amentum, NAC International and Occlusion Nuclear Solutions.
The demonstration will drill a 3,000‑foot borehole into a geologically stable formation and place a 12‑foot, 1,200‑pound canister that can contain spent nuclear fuel or high‑level radioactive waste. No radioactive material will be used during the test; the goal is to validate the engineering, safety, and regulatory compliance of the technology and to build confidence among regulators and stakeholders.
Halliburton’s Q4 2025 earnings, released on January 21, 2026, showed revenue of $5.66 billion, up 4.5% from the prior year, and an EPS of $0.69, beating the consensus estimate of $0.55 by $0.14. The company’s net profit margin fell to 5.8% from 10.9% in 2024, reflecting higher operating costs and a shift toward higher‑margin drilling services. The partnership signals Halliburton’s intent to capture a share of the projected $10 billion nuclear waste management market, which is expected to grow at a CAGR of 6% over the next decade.
Deep Isolation completed a $33 million private placement in July 2025 and became a public company through a reverse merger. The funding supports the full‑scale demonstration and the company’s broader pipeline of deep borehole projects. While the exact budget for the demonstration is not disclosed, the program is part of Deep Isolation’s strategy to secure regulatory approval and commercialize its Universal Canister System by the mid‑2030s.
The nuclear waste disposal market is projected to reach $12 billion by 2035, driven by the expansion of nuclear power and stricter waste‑management regulations. Halliburton’s entry into this market could generate an additional $200 million to $300 million in annual revenue if the technology is approved, representing a 4% to 5% increase in the company’s total revenue mix.
Halliburton has a history of involvement in the nuclear sector, providing drilling services for nuclear power plant construction and decommissioning projects. The company’s expertise in high‑integrity drilling and subsurface engineering positions it well to support the deep borehole approach, which requires precise directional drilling and robust well‑bore integrity.
Rod Baltzer, President and CEO of Deep Isolation, said the groundbreaking “marks the start of a historic program that will allow us to advance on the path to the commercialization of our deep borehole disposal technology and Universal Canister System.” Duane Sherritt, Halliburton’s vice president of Low Carbon Solutions, added that the partnership “demonstrates how directional drilling plays a critical role in delivering subsurface storage locations.”
The collaboration underscores a growing trend of public‑private partnerships in nuclear waste management. By combining Halliburton’s drilling capabilities with Deep Isolation’s technology and the support of Amentum and other partners, the demonstration aims to establish a safety case that could accelerate regulatory approval and pave the way for commercial deployment of deep borehole disposal as a viable alternative to mined repositories.
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