U.S. Well Services Inc. has executed two contracts on Jan. 13 to expand its electric fracturing services for EQT Corp. 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 multiyear 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,” Joel Broussard, U.S. Well Services’ president and CEO, said. “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.”
Prominent shale investor Dan Wilks on Jan. 19 reported a 7.5% active stake in troubled oilfield services firm ProPetro Holding Corp. through an investment vehicle.
Halliburton Co. posted a better-than-expected fourth-quarter profit on Jan. 19, buoyed by cost cuts and a recovery in demand for oilfield equipment and services after last year’s industry slump.
Total is paying $2.5 billion for a share in India's Adani Green Energy and its solar power assets, in what the French company said was its biggest investment yet in renewables.