U.S. Well Services Inc. has executed a contract on Jan. 29 to provide electric hydraulic fracturing services for Range Resources Corp. using its next-generation Clean Fleet technology, which runs on electric power generated by natural gas turbine generators on the wellsite.
Under the terms of the agreement, U.S. Well Services will support Range Resources in the development of its Appalachian asset base on a dedicated basis into 2021. Range has nearly a million net acres across the Appalachian Basin in Pennsylvania, most of which has stacked pay potential for the Marcellus, Utica and Upper Devonian shale formations, according to the company website.
RELATED:
Electric Fracking To Help Shale Producers Earn Environmental Cred
“We are excited to partner with Range Resources. The company is a best-in-class E&P operator with a proven track record of success, and U.S. Well Services looks forward to deploying our revolutionary electric fracturing technology to assist them in their development plans. This contract demonstrates both organizations’ dedication to operational excellence and environmental stewardship,” Joel Broussard, U.S. Well Services’ president and CEO, said.
“Our Clean Fleet technology is changing the hydraulic fracturing industry, enabling significant fuel cost savings, improved operating efficiencies and reduced carbon emissions for our customers. We are enthusiastic about the prospect of sharing these benefits with Range Resources,” Broussard added.
“Range has a record of deploying innovative technologies and solutions across our operations,” Jeff Ventura, Range Resources CEO and president, said. “U.S. Well Services’ state-of-the-art fleet will help support our peer-leading emission reductions goals, realize significant fuel savings and reduce associated sound levels, all while utilizing clean-burning natural gas to power our operations.”
Recommended Reading
Report: Colonial Pipeline Considering $10B Sale
2024-10-29 - Colonial owns a 5,500-mile pipeline network which carries more than 100,000 gallons of fuel to an area stretching from Houston to New Jersey.
Methanex to Buy OCI Global’s Methanol Business in $2.05B Deal
2024-09-10 - The agreement includes OCI Global’s stake in two methanol production facilities in Beaumont, Texas.
Vivakor to Acquire Endeavor Crude Transport Cos. for $120MM
2024-09-25 - Vivakor said it is buying Endeavor Crude and related companies, which have a series of long-term strategic partnerships with customers in the Permian Basin, Eagle Ford Shale and the STACK play.
‘Knife Fight’ for NGLs Driving Midstream Mergers in 2024
2024-09-05 - The latest acquisitions in the midstream sector are focusing on natural gas gathering and processing to secure a spot in the lucrative NGL market.
ONEOK Secures Traffic for Growing Midstream Network with $5.9B Deal
2024-08-29 - ONEOK’s latest deals to acquire controlling interest in midstream companies EnLink and Medallion are considered “neutral” for the company’s credit rating.