Actionable Stock Market Trading Newswire. Built for Traders, by Traders.
All news is property of their respective owners.

U.S. Well Services, Nine Energy Service Provide Update On Recent All-Electric Completion Project For Northeast Natural Energy; Shares See Volume

U.S. Well Services (NASDAQ:USWS) ("USWS") and Nine Energy Service, Inc. (NYSE:NINE) ("NINE") today announced the successful completion of an all-electric field trial for Northeast Natural Energy

U.S. Well Services (NASDAQ:USWS) (“USWS”) and Nine Energy Service, Inc. (NYSE:NINE) (“NINE”) today announced the successful completion of an all-electric field trial for Northeast Natural Energy (“NNE”).  NNE leveraged USWS’ patented Clean Fleet® fracturing technology to stimulate 589 total stages on nine wells across two pads, delivering an industry-leading low emission footprint as well as best-in-class completion efficiency.

Throughout the course of the project, NNE’s company records for most hours, stages and total sand and water pumped in a 24 hour period were eclipsed.  Additionally, USWS estimates that by using Clean Fleet® technology instead of conventional diesel fracturing equipment, NNE reduced its CO2-equivalent, NO2 and particulate matter emissions by 25%, 86% and 94%, respectively, and displaced approximately 1.5 million gallons of diesel fuel.

“We are very pleased with the results from our partnerships with U.S. Well Services and Nine Energy utilizing an all-electric fleet and electric wireline unit for the first time,” said Criss VanGilder, Drilling and Completions Manager of Northeast Natural Energy.  “We completed the longest laterals in our company’s history on one of these locations, and the increased efficiency and reduction in emissions we experienced is something we are very proud of.  We strive to be a leader in our industry in finding the most efficient and cleanest methods to complete our wells, and we are looking for more opportunities to utilize this technology,” VanGilder added.

“We are extremely proud of what we were able to accomplish with NNE and Nine over the course of the project,” said Joel Broussard, USWS’ President and CEO.  “NNE is among the earliest adopters of advanced completions technology, and we look forward to building off of our recent success together and partnering with them again to deliver the lowest-emission, most efficient well completions in the industry.”

“We were extremely excited to be part of what was a successful completion of an all-electric pad with NNE and USWS,” said Ann Fox, President and CEO of Nine.  “Our wireline operations exclusively utilized turbine power and had no diesel usage for 46 days while completing 356 stages for NNE.  At Nine, we continue to be focused on fielding technology that can both reduce GHG emissions, while maintaining or increasing efficiencies for our customers.”

Total
0
Shares