HOUSTON, Aug. 2, 2021 /PRNewswire/ -- NexTier
Oilfield Solutions Inc. (NYSE: NEX) ("NexTier" or the "Company")
today announced the commercial launch of its Power Solutions
division, a business dedicated to providing comprehensive fueling
services to natural gas-powered fleets in the Permian Basin. With
today's announcement, NexTier takes another leap forward in our
commitment to provide low-cost, low-carbon solutions to the oil and
gas industry.
The addition of Power Solutions integrates the latest in
compressed natural gas (CNG) supply and field-gas handling
technologies with NexTier's existing portfolio of natural
gas-fueled completion services. This helps to reduce fuel costs and
improve the Company's overall environmental, social and governance
(ESG) performance at the wellsite. It is accomplished by displacing
a significant portion of carbon-heavy diesel with cleaner, more
cost-effective natural gas fuel.
"As the only service company to provide alternative fuel supply
as part of our integrated completions portfolio, NexTier's goals
are more closely aligned with those of our customers," said
Aaron Hilber, Vice President of
Power Solutions at NexTier. "The key driver to achieving our mutual
goals of reducing fuel costs and decreasing emissions is NexTier's
ability to maximize diesel displacement."
Operations commenced with NexTier supplying CNG to one of its
ESG Platinum frac fleets. The operation has been successful in
achieving diesel displacement rates greater than 80% in the fleet's
dual-fuel pumps during operations, driven by integrated
efficiencies and improved coordination. Also on-site is the
Company's proprietary pressure reduction system (PRS), which safely
manages the CNG that was delivered to the wellsite via NexTier's
CNG trailers. This first-of-its-kind PRS skid boasts improved
reliability and the highest capacity in the market, suitable for
even the most demanding projects. The PRS also incorporates
patent-pending technology to eliminate the traditional challenges
associated with introducing field gas into the fuel supply. All
Power Solutions equipment is outfitted with NexTier's MDT control
system, enabling real-time visibility into every aspect of the
operation via the NexHub® Digital Center.
To ensure reliability of these innovative services, NexTier has
entered into an agreement to purchase natural gas from EagleClaw
Midstream, the largest private midstream operator in the
Delaware Basin, with established
infrastructure throughout the Greater Permian. This strategic
partnership provides NexTier with the distinct operational
advantage of access to a high-quality natural gas supply.
Compressed natural gas delivered to the wellsite originated from
NexTier's recently constructed fueling station near Pecos, Texas.
"Today's announcement further cements our position as the
provider of choice to deliver safe, efficient, low-emission
completion operations," commented Robert
Drummond, President and Chief Executive Officer of NexTier.
"Integrating gas fueling into our operations creates an alignment
across the wellsite that gives us the greatest opportunity to
reduce emissions and decrease operational costs via efficiency
improvements from integrated operations. We are delighted to
partner with EagleClaw Midstream as our natural gas supplier."
"We are pleased to partner with NexTier on this innovative and
exciting new venture," added Jamie
Welch, President and Chief Executive Officer of EagleClaw
Midstream. "Our combined resources and expertise will help make the
transition to lower-carbon operations much easier for both NexTier
and EagleClaw Midstream customers."
About NexTier Oilfield Solutions
Headquartered in Houston,
Texas, NexTier is an industry-leading U.S. land oilfield
service company, with a diverse set of well completion and
production services across the most active and demanding
basins. Our integrated solutions approach delivers efficiency
today, and our ongoing commitment to innovation helps our customers
better address what is coming next. NexTier is differentiated
through four points of distinction, including safety performance,
efficiency, partnership and innovation. At NexTier, we
believe in living our core values from the basin to the boardroom,
and helping customers win by safely unlocking affordable, reliable
and plentiful sources of energy.
About EagleClaw Midstream
EagleClaw Midstream is a fully integrated, private midstream
company that safely, responsibly and sustainably operates in the
heart of the Delaware Basin. The
Company currently has more than 650,000 acres under long-term
dedication. EagleClaw Midstream is headquartered in Midland, Texas, and has a significant presence
in Houston. EagleClaw Midstream
provides comprehensive gathering, transportation, compression,
processing and treating services for companies that produce natural
gas, natural gas liquids, crude oil and water. The Company is the
largest private gas processor in the Delaware Basin, with 1,320 MMcf/d of capacity
and more than 1,400 miles of operated pipelines. EagleClaw
Midstream has long-term dedications for gas, crude and water
midstream services from approximately 30 successful and active
producers in the Delaware Basin.
EagleClaw Midstream is also a partner on the Permian Highway
Pipeline project.
NexTier Investor Contact:
Kenneth Pucheu
Executive Vice President - Chief Financial Officer
Marc Silverberg
Partner (ICR)
marc.silverberg@icrinc.com
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SOURCE NexTier Oilfield Solutions