U.S. Well Services and EQT Corporation Finalize Long-Term Electric Fracturing Contracts
HOUSTON, Jan. 13, 2021 /PRNewswire/ -- U.S. Well Services, Inc. (Nasdaq: USWS) today announced it has executed two contracts to expand its electric fracturing services for EQT Corporation (NYSE: EQT). Under the terms of the agreements, U.S. Well Services extended its existing contract for one electric frac fleet and will also deploy a second electric frac fleet on a contracted basis. Both contracts represent multi-year fleet dedications if all optional extensions are exercised.
"We are pleased to broaden our relationship with EQT and provide an additional electric fracturing fleet to support its completion program," commented Joel Broussard, U.S. Well Services' President and Chief Executive Officer. "EQT is a best-in-class E&P operator, and their decision to expand their use of the Clean Fleet® technology is further evidence of their commitment to efficiency and environmental stewardship."
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 13, 2021