(Source: Shutterstock.com)
ProPetro has signed a three-year agreement to provide electric hydraulic fracturing services for Exxon Mobil’s Permian Basin operations.
ProPetro will deliver and dedicate its FORCE electric-powered hydraulic fracturing fleet services coupled with their Silvertip wireline and other pumpdown services to provide fracture stimulation pumping for Exxon, the company said in an April 29 press release.
The agreement includes the deployment of two FORCE electric hydraulic fracturing fleets, wireline, and pumpdown services in the first half of 2024 with an option for a third FORCE fleet with wireline and pumpdown services to commence operations in early 2025. The services are to be delivered over a three-year term with various provisions including performance incentives.
"This step is a significant moment for us, showcasing our collaboration with a leading global energy provider to deliver innovative, cost-effective, and more environmentally friendly energy service solutions through our multi-year agreement,” ProPetro’s CEO Sam Sledge said. “This commitment, which includes electric hydraulic fracturing, wireline, and pumpdown services, underlines our dedication to leading the industry with high-quality, low-emission, and industrialized services."
Recommended Reading
US Crude Stocks Fell Last Week as Exports Jumped, EIA Says
2024-12-18 - Crude inventories fell by 934,000 bbl to 421 MMbbl in the week, the EIA said, compared with analysts' expectations in a Reuters poll for a 1.6-MMbbl-draw.
US Crude Stocks Rise, Gasoline and Distillate Inventories Fall, EIA Says
2024-11-14 - U.S. crude stocks rose while gasoline and distillate inventories fell in the week ending Nov. 8.
Cushing Crude Storage Levels Near All-Time Lows
2025-01-16 - Near-empty tanks can cause technical and price problems with oil, an East Daley Analytics analyst says.
Oil Prices Rise as OPEC+ Considers Delaying December Output Increase
2024-10-30 - Oil prices rose more than 2% on Oct. 30 after Reuters reported that OPEC+ could delay a planned oil production increase in December by a month or more because of concern over soft oil demand and rising supply.
What's Affecting Oil Prices This Week? (Jan. 6, 2025)
2025-01-06 - Recent geopolitical news also provided some support for oil prices with the rhetoric heating up between Iran and Israel.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.