U.S. Well Services Inc. has executed a long-term contract on April 8 to provide electric hydraulic fracturing services for EQT Corp. using its next-generation Clean Fleet technology. Pursuant to the terms of the agreement, U.S. Well Services will provide a dedicated electric hydraulic fracturing fleet to support EQT’s completions activity for three years if all optional extensions are exercised.
“U.S. Well Services is pleased to announce that we have formalized our partnership with EQT following its successful trial of the Clean Fleet technology beginning in the fourth quarter of 2019,” Joel Broussard, U.S. Well Services’ president and CEO, said. “EQT is the largest producer of natural gas in the United States and is a best-in-class E&P operator. The decision to contract an electric fracturing fleet from USWS is a testament to EQT’s unyielding focus on decreasing completion costs and improving efficiencies while minimizing its environmental impact.”
“This partnership will allow EQT to capture proven operational efficiencies to deliver on our well cost targets, while decreasing our carbon footprint and opening the door for future innovation as we evolve the way we operate. This agreement secures one-third of our planned activity levels, preserving EQT’s operational flexibility for the future,” Toby Z. Rice, EQT president and CEO, said.
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