U.S. Well Services, Inc. and Range Resources Corporation Sign Electric Frac Contract
January 29 2020 - 6:30AM
U.S. Well Services, Inc. (Nasdaq: USWS) today announced it has
executed a contract to provide electric hydraulic fracturing
services for Range Resources Corp. (NYSE: RRC) using its
next-generation Clean Fleet® technology, which runs on electric
power generated by natural gas turbine generators on the wellsite.
Under the terms of the agreement, U.S. Well Services will support
Range Resources in the development of its Appalachian asset base on
a dedicated basis into 2021.
Joel Broussard, U.S. Well Services’ President
and Chief Executive Officer commented, “We are excited to partner
with Range Resources. The Company is a best-in-class E&P
operator with a proven track record of success, and U.S. Well
Services looks forward to deploying our revolutionary electric
fracturing technology to assist them in their development
plans. This contract demonstrates both organizations’
dedication to operational excellence and environmental
stewardship.”
“Range has a record of deploying innovative
technologies and solutions across our operations,” said Jeff
Ventura, Range Resources CEO & President. “U.S. Well Services’
state-of-the-art fleet will help support our peer-leading emission
reductions goals, realize significant fuel savings and reduce
associated sound levels, all while utilizing clean-burning natural
gas to power our operations.”
“Our Clean Fleet® technology is changing the
hydraulic fracturing industry, enabling significant fuel cost
savings, improved operating efficiencies and reduced carbon
emissions for our customers. We are enthusiastic about the prospect
of sharing these benefits with Range Resources,” concluded Mr.
Broussard.
About Clean Fleet® technologyClean Fleet®
technology operations are cleaner, quieter, safer, and more
accommodating to neighboring communities.
Our patented Clean Fleet® technology significantly reduces
greenhouse gas emissions and dramatically decreases sound
pollution, while also reducing fuel costs as much as 90%. These
reductions are achieved by replacing all conventional diesel
engines and diesel fuel with electric motors powered by natural gas
generators.
About U.S. Well Services, Inc.
U.S. Well Services, Inc. is a leading provider
of hydraulic fracturing services and a market leader in electric
fracture stimulation. The Company’s patented electric frac
technology provides one of the first fully electric, mobile well
stimulation systems powered by locally-supplied natural gas,
including field gas sourced directly from the wellhead. The
Company’s electric frac technology dramatically decreases emissions
and sound pollution while generating exceptional operational
efficiencies, including significant customer fuel cost savings
versus conventional diesel fleets. For more information visit:
www.uswellservices.com. Information on our website is not part of
this release.
Contacts:U.S. Well ServicesJosh ShapiroVice
President, Finance and Investor RelationsIR@uswellservices.com
Dennard Lascar Investor RelationsLisa
Elliott(713) 529-6600USWS@dennardlascar.com
Source: U.S. Well Services, Inc.
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