USWS - USWS STOCK NEWS

U.S. Well Services, Inc. (NASDAQ: USWS) will release its financial results for the full year and fourth quarter of 2021 on March 30, 2022. An earnings conference call will take place on March 31, 2022, at 10:00 a.m. Central Time. The company's electric hydraulic fracturing technology offers reduced emissions and operational efficiencies, promoting customer fuel cost savings compared to traditional diesel fleets. A replay of the call will be available until April 7, 2022.

U.S. Well Services (USWS) announced a contract extension with Range Resources (RRC) for its electric fleet, effective November 2022. This agreement will support Range's completion program in the Appalachian region until the end of 2024. USWS CEO Joel Broussard emphasized the importance of this partnership, particularly due to rising diesel prices and environmental concerns. The use of electric fracturing technology aims to enhance operational efficiency while reducing emissions. Range Resources aims for net zero greenhouse gas emissions by 2025, aligning with its sustainability goals.

U.S. Well Services (NASDAQ: USWS) has completed a registered direct offering of 14,180,375 shares at a price of $1.763 per share, raising approximately $25 million in gross proceeds. Concurrently, the company issued unregistered warrants for the same number of shares, also priced at $1.763, which are exercisable for three and a half years. The net proceeds from this offering will be used for working capital and to fund certain capital expenditures. The shares were sold under an effective shelf registration statement filed with the SEC.

U.S. Well Services (NASDAQ: USWS) announced a registered direct offering of 14,180,375 shares at $1.763 per share, aiming for gross proceeds of approximately $25 million. The offering includes unregistered warrants for the same number of shares, exercisable at $1.763, set to close around March 11, 2022. Funds will be used for working capital and capital expenditures. The share offering is made under an effective registration statement with the SEC. H.C. Wainwright & Co. serves as the placement agent.

U.S. Well Services (USWS) has announced a $21.5 million expansion of its Senior Secured Term Loan Facility, allowing for last-out term loans to boost working capital and growth expenditures. The loans come with a premium repayment structure and have led to the issuance of approximately 15 million warrants for USWS stock at $1.11 per share. Additionally, USWS secured an 18-month contract providing electric hydraulic fracturing services in Appalachia, set to commence in November 2022. The company is focused on leveraging its Nyx Clean Fleet technology to capitalize on the increasing demand for environmentally responsible oil and gas services.

U.S. Well Services (NASDAQ: USWS) has secured a contract with Olympus Energy LLC to provide electric pressure pumping services utilizing its Clean Fleet® technology. The agreement lasts through 2022, with potential extensions for two additional years. This partnership aims to enhance environmental stewardship and operational efficiency in the Marcellus and Utica shale regions of Pennsylvania. CEO Joel Broussard emphasized the mutual focus on sustainability and cost savings, showcasing the effectiveness of their electric frac technology in reducing emissions and fuel costs.

U.S. Well Services (NASDAQ: USWS) has secured a contract with XCL Resources for electric pressure pumping services in the Uinta Basin, potentially lasting up to three years. This agreement will utilize the new Nyx Clean Fleet®, underscoring a commitment to advanced technology for better efficiency and reduced environmental impact. Both companies aim to achieve significant fuel cost savings and lower greenhouse gas emissions through this initiative, marking a pivotal development in responsible asset management in the oil and gas sector.

U.S. Well Services (NASDAQ: USWS) announced updates on commercial activity and strategic initiatives on Feb. 1, 2022. The company plans to deploy its first all-electric Nyx Clean Fleet® in the Rockies and has secured contracts with Olympus Energy and XCL Resources for electric pressure pumping services.

Preliminary Q4 2021 results show revenues between $38-$39 million, with significant downtime due to supply chain issues. The company successfully reduced its senior secured term loan from $201.4 million to $120.7 million, resulting in a 0.0% interest rate for Q1 2022.

U.S. Well Services (NASDAQ: USWS) announced a new contract with Callon Petroleum (NYSE: CPE) to provide electric pressure pumping services in the Permian Basin and Eagle Ford Shale for up to three years. This partnership follows a successful field trial that eliminated 270,000 gallons of diesel fuel and significantly reduced greenhouse gas emissions while achieving over 160 frac stages. U.S. Well Services aims to enhance operational performance and fuel cost savings through its all-electric Clean Fleet technology, promoting safety and environmental stewardship.