Evolution Well Services has acquired the eFrac gas treating division of Alliance OGP, the company said on Jan. 27. Evolution and Alliance both have longstanding experience providing mobile field gas conditioning systems for oil and gas operations across the United States. The move strengthens Evolution’s integrated service offering by expanding its industry leading in-house gas conditioning technology and expertise.
The field gas revolution in the oil and gas industry is helping to reduce GHG emissions as well as provide substantially lower cost operations for E&Ps. Due to natural gas having roughly 27% lower carbon content versus diesel, switching away from diesel provides E&Ps the opportunity to reduce emissions and align with stakeholder targets. Additionally, using locally produced natural gas eliminates many of the lifecycle emissions typically created with diesel fuel: transportation, refining, and storage.
When considering these lifecycle emissions, an estimated 11% of additional GHG emissions can be eliminated. Further, leveraging Evolution’s patented mobile power generation and gas conditioning technology to enable field gas use to power oil and gas operations instead of diesel can provide 95% fuel savings. This results in over $15 million in estimated customer savings per hydraulic fracturing fleet per year.
“As the leader in both electric frac and field gas innovation, we strive to provide the lowest carbon, lowest cost, and highest efficiency operations to our E&P partners," Steven Anderson, Evolution’s president and CEO, said. "This acquisition demonstrates an even deeper commitment to consistently deliver maximum economic, emissions, and operational value to our customers through our unique integrated service offering.”
Earlier this month, the company entered a long-term deal with a Permian Basin operator to employ its 100% natural gas fueled electric fracturing technology and an innovative Simul-frac completions technique. The switch to a lower carbon fuel will allow the operator to reduce GHG emissions across well in the Permian Basin.
“We could not be more excited that Evolution was chosen after an extensive, multi-year selection process. We look forward to providing high-efficiency, lower carbon, and safe Simul-frac operations for our new partners in the Permian Basin,” Anderson said.
Additionally, Evolution was awarded four separate contract extensions for its electric fracturing technology by its partners in Texas and the Appalachia. The partnerships expand as far out as 2024.
“Evolution is excited to both extend and expand our partnerships,” he said. “These technical and operational accomplishments show the unique value and differentiation of our partner-focused culture and our strategy of being a fully integrated engineered solutions provider.
2022-11-27 - U.S. oil rigs rose four to 627 this week, their highest since March 2020, while gas rigs fell two to 155, according to the weekly Baker Hughes rig count report.
2022-10-03 - Houston-based SilverBow Resources entered an agreement to acquire bolt-on assets in the Karnes trough in Dewitt and Gonzales counties from an undisclosed seller for $87 million in cash.
2022-10-18 - Sinopec's discovery aligns with Chinese President Xi Jinping's call to boost domestic energy supply.
2022-09-16 - The new position in the dry gas Dorado play doubles SilverBow’s current Webb County acreage in South Texas, which now totals 15,000 acres with an estimated drilling inventory exceeding 200 gross locations.
2022-10-07 - The company has not changed its plans to reduce oil and gas output by 1 MMboe/d by 2030.