U.S. Well Services, Inc. files suit against Halliburton Company and Cimarex Energy Co. for patent infringement
HOUSTON, April 15, 2021 /PRNewswire/ -- U.S. Well Services, Inc. (Nasdaq: USWS) today announced it has filed suit in the United States District Court for the Western District of Texas - Waco Division for patent infringement against Halliburton Company (NYSE: HAL) and Cimarex Energy Co. (NYSE: XEC). The original complaint alleges infringement of multiple U.S. Well Services patents. The alleged infringements are related to U.S. Well Services patents covering "Systems for Pumping Hydraulic Fracturing Fluid using Electric Pumps", "Electric Powered Pump Down", "Systems for Centralized Monitoring and Control of Electric Powered Hydraulic Fracturing Fleet" as well as 4 other related patents. U.S. Well Services currently has a portfolio of 42 patents granted, 4 patents allowed, and 185 patents pending.
Joel Broussard, U.S. Well Services' President and Chief Executive Officer commented, "The intellectual property covered by these and all of our patents are what separates us from others in the Hydraulic Fracturing market. The defense of our intellectual property is paramount, and we have and always will take whatever measures are necessary to protect it."
U.S. Well Services, Inc. is being represented by Jay Yates of Patterson + Sheridan LLP in Houston, Texas.
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.
The information above includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included herein concerning, among other things, the filing of the lawsuit and any resulting benefits, are forward-looking statements. These forward-looking statements may be identified by their use of terms and phrases such as "may," "expect," "believe," "anticipate," "will," "should," "could," and similar terms and phrases. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve certain assumptions, risks, and uncertainties. These forward-looking statements represent the Company's current expectations or beliefs concerning future events, and it is possible that the results described in this release will not be achieved. These forward-looking statements are subject to certain risks, uncertainties and assumptions identified in this release or as disclosed from time to time in the Company's filings with the Securities and Exchange Commission (the "SEC"). Factors that could cause actual results to differ from the Company's expectations include the factors described in the Company's public disclosures and filings with the SEC, including those described under "Risk Factors" in its annual report on Form 10-K filed on March 11, 2021 and in our quarterly reports on Form 10-Q. As a result of these factors, actual results may differ materially from those indicated or implied by forward-looking statements.
Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the Company does not undertake any obligation to update or revise any forward-looking statement, whether because of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for us to predict all such factors.
U.S. Well Services
Vice President, Finance and Investor Relations
SOURCE U.S. Well Services, Inc.
Released April 15, 2021