The combination of U.S. Well Services with ProFrac is expected to be the largest provider of electric frac services with 12 electric fleets, creating a market leader in NextGen frac solutions.
Fueled by natural gas, the turbine driven pump supports the reduction of greenhouse gas emissions, reduced costs and improved mobility, according to the company.
ProPetro and Pioneer Natural Resources amended their pressure pumping services agreement to update the terms and conditions of the partnership.
“Transitioning to a non-executive chairman role was our goal to continue to enhance our governance at ProPetro,” Chairman Gobe said.
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.
“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," Steven W. Anderson, Evolution president and CEO, said.
The electric fracturing technology will be fueled by 100% natural gas via aero-derivative turbines rather than conventional fleets that rely on diesel engines.
Here are a few of the latest frac technologies helping shale producers realize even greater efficiencies and cost savings in the oil patch.
“I hope it stabilizes between a $80 to $100 range over the next several years. We need stability in the oil markets,” Scott Sheffield, the CEO of top U.S. shale producer Pioneer Natural Resources Co., said.
U.S. Well Services inked a contract to deploy its electric pressure pumping fleet across the Permian Basin and Eagle Ford for the operating subsidiaries of Callon Petroleum Co.