U.S. Well Services and Range Resources Corp. Finalize Extension of Electric Frac Contract
HOUSTON, Jan. 11, 2021 /PRNewswire/ -- U.S. Well Services, Inc. (Nasdaq: USWS) today announced it has finalized an extension of its contract to provide electric hydraulic fracturing services for a subsidiary of Range Resources Corporation (NYSE: RRC) in the southwestern core of the Pennsylvania Appalachian Basin.
"We are excited to continue working for Range with our revolutionary Clean Fleet® electric hydraulic fracturing solution," said Joel Broussard, U.S. Well Services' President and Chief Executive Officer. "Together our companies have partnered to execute Range's development strategy while continuing to reduce emissions, noise and fuel consumption required of well completions. Range is a top-tier E&P operator, and we look forward to supporting their completions program."
"Range is a leader in capital efficiency, well costs and reducing emissions intensity thanks to the implementation of advanced technologies like U.S. Well Services' electric fracturing fleet. This partnership allows us to improve our class-leading well costs, while helping to make substantial progress towards our ambitious goal of net-zero greenhouse gas emissions," said Jeff Ventura, Range Resources' President and Chief Executive Officer.
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.
U.S. Well Services
Vice President, Finance and Investor Relations
Dennard Lascar Investor Relations
SOURCE U.S. Well Services, Inc.
Released January 11, 2021