EQT Finalizes Electric Frac Contract

by Matthew V. Veazey  Rigzone Staff  Friday, April 10, 2020

U.S. Well Services, Inc. (USWS) reported Wednesday that it has finalized a long-term contract to provide electric hydraulic fracturing services for EQT Corp,, whose operations are concentrated in the Appalachian Basin.

Under the agreement, U.S. Well Services will provide a dedicated electric hydraulic fracturing fleet for EQT’s completions activity. If EQT exercises all optional extensions, the contract covers a three-year span, USWS noted in a written statement.

“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,” USWS President and CEO Joel Broussard remarked. “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.”

According to USWS’ website, its electric-powered frac fleet technology runs on natural gas directly from a pipeline – compared to conventional fleets that rely on diesel deliveries to a wellsite. The company states that its technology yields lower operating costs as well as health, safety and environmental benefits.

“We are excited to strengthen our partnership with U.S. Well Services and utilize their innovative, next-generation Clean Fleet frac technology,” noted EQT President and CEO Toby Z. Rice. “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 planed activity levels, preserving EQT’s operational flexibility for the future.”