HOUSTON, March 18, 2021 /PRNewswire/ -- NexTier Oilfield
Solutions Inc. (NYSE: NEX) ("NexTier" or the "Company") and NOV,
Inc. (NYSE: NOV) ("NOV") today announced the recent completion of
the first phase of field testing of NOV's electric fracturing
system known as the Ideal™ eFrac pump. The Ideal eFrac pump
provides efficient, environmentally conscious hydraulic fracturing
capabilities that dramatically reduce emissions, equipment, and
complexity at the well site.
The field test, completed on behalf of a major operator, was
comprised of more than 300 operating hours with an average of more
than 18 pumping hours per day, including the completion of 172
stimulation stages at rates up to 22 barrels per minute. The Ideal™
eFrac system is capable of operating on a variety of electrical
sources, including turbine power generators, reciprocating gas
engines, grid power, or battery power. As part of ongoing
collaboration, NexTier and NOV expect to undergo three additional
field trials on behalf of major operators.
"This successful field test advances NexTier's ESG strategy and
further demonstrates NexTier's leadership in reducing carbon
emissions at the wellsite," said Robert
Drummond, President and Chief Executive Officer of NexTier.
"As part of this important collaboration, we are excited to
leverage our top-tier operational background with NOV's world-class
technological and manufacturing capabilities which furthers our
shared commitment to responsible low carbon operations."
"We are pleased by the performance of the Ideal™ eFrac
technology in this initial phase of our field testing," said
Clay Williams, President and Chief
Executive Officer of NOV. "We value our partnership with NexTier
with whom we find alignment in our vision for low carbon operations
facilitated by technological innovation."
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.
NOV is a leading provider of technology, equipment, and services
to the global oil and gas industry that supports customers'
full-field drilling, completion, and production needs. Since 1862,
NOV has pioneered innovations that improve the cost-effectiveness,
efficiency, safety, and environmental impact of oil and gas
operations. NOV powers the industry that powers the world. Visit
www.nov.com for more information. Information on the Company's
website is not part of this release.
NexTier Investor Contact:
Executive Vice President - Chief Financial Officer
Marc Silverberg, Partner (ICR)
NOV Investor Contact:
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SOURCE NexTier Oilfield Solutions