US Well Services concludes electric fracturing contract with EQT

Well stimulation and development services provider US Well Services has executed a long-term contract to provide electric hydraulic fracturing (frac) services for natural gas exploration firm EQT.

The company will provide frac services using its advanced Clean Fleet technology.

Under the agreement, US Well Services will provide a dedicated electric hydraulic fracturing fleet to support the exploration firm’s well completions activity for three years.

US Well Services president and CEO Joel Broussard said: “US Well Services is pleased to announce that we have formalised our partnership with EQT following its successful trial of the Clean Fleet technology beginning in the fourth quarter of 2019.

“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.”

Clean Fleet technology is a fuel cost savings solution and also reduces noise and greenhouse gas (GHG) pollution.

EQT president and CEO Toby Z Rice said: “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.”

In March last year, US Well Services executed a long-term electric frac fleet contract with all options exercised with Shell subsidiary SWEPI LP.

In November 2017, EQT acquired all of the outstanding shares of Rice Energy for a consideration of $6.7bn.