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EQT Inks Three-Year Electric Frac Deal with US Well Services Inc.
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U.S. Well Services Inc. has executed a long-term contract to provide electric hydraulic fracturing services for EQT Corp.
U.S. Well Services will provide a dedicated electric hydraulic fracturing fleet to support EQT’s completions activity for three years if all optional extensions are exercised.
Joel Broussard, U.S. Well Services’ President and Chief Executive Officer, said: "U.S. Well Services is pleased to announce that we have formalized 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.”
EQT CEO Toby Rice added: “We are excited to strengthen our partnership with U.S. Well Services and utilize their innovative, next-generation Clean Fleet® frac technology. 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.”
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