U.S. Well Services Inc. has executed a long-term contract on April 8 to provide electric hydraulic fracturing services for EQT Corp. using its next-generation Clean Fleet technology. Pursuant to the terms of the agreement, U.S. Well Services will provide a dedicated electric hydraulic fracturing fleet to support EQT’s completions activity for three years if all optional extensions are exercised.
“U.S. Well Services is pleased to announce that we have formalized our partnership with EQT following its successful trial of the Clean Fleet technology beginning in the fourth quarter of 2019,” Joel Broussard, U.S. Well Services’ president and CEO, said. “EQT is the largest producer of natural gas in the United States and is a best-in-class E&P operator. The decision to contract an electric fracturing fleet from USWS is a testament to EQT’s unyielding focus on decreasing completion costs and improving efficiencies while minimizing its environmental impact.”
“This partnership will allow EQT to capture proven operational efficiencies to deliver on our well cost targets, while decreasing our carbon footprint and opening the door for future innovation as we evolve the way we operate. This agreement secures one-third of our planned activity levels, preserving EQT’s operational flexibility for the future,” Toby Z. Rice, EQT president and CEO, said.
Recommended Reading
BP Restructures, Reduces Executive Team to 10
2024-04-18 - BP said the organizational changes will reduce duplication and reporting line complexity.
JMR Services, A-Plus P&A to Merge Companies
2024-03-05 - The combined organization will operate under JMR Services and aims to become the largest pure-play plug and abandonment company in the nation.
Chord Energy Updates Executive Leadership Team
2024-03-07 - Chord Energy announced Michael Lou, Shannon Kinney and Richard Robuck have all been promoted to executive vice president, among other positions.
First Solar’s 14 GW of Operational Capacity to Support 30,000 Jobs by 2026
2024-02-26 - First Solar commissioned a study to analyze the economic impact of its vertically integrated solar manufacturing value chain.
SunPower Begins Search for New CEO
2024-02-27 - Former CEO Peter Faricy departed SunPower Corp. on Feb. 26, according to the company.