U.S. Well Services announced it has finalized a contract with one of the largest E&P producers in the United States (the “Customer”) to provide electric pressure pumping services. Under the terms of the agreement, USWS will dedicate a newbuild Nyx Clean Fleet® to support the Customer’s development program in Texas for an initial term of 18 months beginning early in the third quarter of 2022.
“With the execution of this agreement, all four of U.S. Well Services’ newbuild Nyx Clean Fleets® are contracted to high quality E&P customers,” said Kyle O’Neill, the Company’s President and CEO. “This latest agreement is further evidence of the strength of demand for electric pressure pumping fleets. We are excited to put this fleet to work and deliver best-in-class emissions, fuel cost savings and HSE benefits to our Customer.”
U.S. Well Services, Inc. is a leading provider of electric pressure pumping services and a market leader in electric pressure pumping. The Company’s patented electric pressure pumping technology provides one of the first fully electric, mobile well stimulation systems powered by locally supplied natural gas including field gas sourced directly from the wellhead. The Company’s electric pressure pumping technology dramatically decreases emissions, sound pollution and truck traffic while generating exceptional operational efficiencies including significant customer fuel cost savings versus conventional diesel fleets. For more information visit: www.uswellservices.com. The information on our website is not part of this release.
The information above includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included herein, including among other things, industry activity levels and pricing for the Company’s services, anticipated delivery dates for the Company’s Nyx Clean Fleets®, availability under the Company’s credit facilities, availability of workable equipment, experienced crews, and materials used in pressure pumping operations, the Company’s financial position and prospects and liquidity, the Company’s ability to identify, evaluate and complete any capital any capital markets or strategic alternative, the Company’s business strategy and objectives for future operations, results of discussions with potential customers, potential new contract opportunities and planned construction, the potential term of existing customer contracts, deployment and operation of fleets, are forward-looking statements. These forward-looking statements may be identified by their use of terms and phrases such as “may,” “expect,” “believe,” “intend,” “estimate,” “project,” “plan,” “anticipate,” “will,” “should,” “could,” and similar terms and phrases.