As previously announced, U.S. Well Services has entered into a contract to provide electric pressure pumping services for XCL Resources, LLC in the Uinta Basin. Under the terms of the agreement, USWS will provide a newbuild Nyx Clean Fleet® to work for XCL on a contracted basis for up to three years if all optional extensions are exercised.
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“U.S. Well Services is excited to announce the deployment of the first all-electric fleet to service the Rockies,” commented Joel Broussard, the Company’s President and CEO. “XCL’s commitment to leveraging advanced technologies to improve efficiencies and the environmental impact of its completion program makes it an ideal partner for USWS. We look forward to demonstrating the Nyx Clean Fleet’s capabilities and delivering significant fuel cost savings along with industry leading reductions in noise pollution and greenhouse gas emissions for them.”
“XCL is firmly committed to the responsible and efficient development of our asset base,” said Blake McKenna, XCL’s President and EVP of Operations. “We are eager to deploy the Nyx Clean Fleet® technology and begin leveraging its ability to deliver cost savings, a reduction in our environmental footprint and advanced data capture capability to drive our completion program forward in 2022.”
About U.S. Well Services, Inc.
U.S. Well Services, Inc. is a leading provider of hydraulic fracturing services and a market leader in electric fracture stimulation. The Company’s patented electric frac 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 frac technology dramatically decreases emissions and sound pollution while generating exceptional operational efficiencies, including significant customer fuel cost savings versus conventional diesel fleets. For more information visit: www.uswellservices.com. Information on our website is not part of this release.
About XCL Resources
XCL Resources is a private oil and gas company focused on maximizing risk-adjusted returns on assets that require efficient development.
Forward-Looking Statements
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 concerning, among other things, the private placement and the use of proceeds and the expected impact of the transactions on the Company’s financial position and prospects, if at all, are forward-looking statements.