Seneca Resources Company and U.S. Well Services Announce All-Electric Well Completion Field Trial

Rhea-AI Summary

On July 29, 2021, Seneca Resources and U.S. Well Services (USWS) announced a collaboration to conduct a field trial in Lycoming County, utilizing USWS' Clean Fleet® technology for all-electric well completions. This trial marks Seneca's inaugural use of electric fracturing technology, aligning with its commitment to reduce greenhouse gas emissions. The project aims to analyze emissions data during operations, contributing to Seneca's comprehensive study of low-carbon well completion methods. Results are anticipated to inform future emissions reduction initiatives.

Positive

• Seneca's first use of all-electric fracturing technology, indicating a commitment to sustainability.
• Field trial aligns with ongoing efforts to reduce greenhouse gas emissions.
• Potential for significant fuel cost savings and operational efficiencies through USWS' technology.

Negative

• None.

WILLIAMSVILLE, N.Y., July 29, 2021 /PRNewswire/ -- Today, Seneca Resources Company, LLC ("Seneca"), the exploration and production segment of National Fuel Gas Company (NYSE: NFG), and U.S. Well Services (NASDAQ: USWS) ("USWS") announced their collaboration on an upcoming field trial using USWS' Clean Fleet® technology to complete a six well pad in Lycoming County, within Seneca's Eastern Development Area. This field trial, which started in mid-July, represents Seneca's first well completions using all-electric fracturing technology and is the latest example of Seneca's focus on greenhouse gas emissions reductions.  Results from the field trial are expected to be incorporated into Seneca's ongoing, first-of-its-kind study of available low-carbon well completion equipment, analyzing the emissions data from real-time well stimulation operations.

"As a long-standing sustainability-focused operator in the lowest emissions intensity shale basin in the United States, Seneca continues to look for ways to further reduce its carbon footprint, including the use of best in class emissions reduction practices," said Justin Loweth, President of Seneca.  "Our field trial with USWS is another step in this direction, allowing Seneca to evaluate the potential environmental benefits of this well completions solution in our ongoing operations."

"Seneca is a leading E&P operator in the Appalachian Basin that has routinely demonstrated a commitment to reducing the environmental impact of its operations," commented Joel Broussard, the USWS' President and CEO.  "We are excited to demonstrate the capabilities of our Clean Fleet® technology, especially as Seneca undertakes its detailed study of the emissions performance of various hydraulic fracturing solutions.  Our technology has consistently delivered measurable reductions in greenhouse gas emissions, as well as significant fuel cost savings, and we look forward to showcasing these benefits for Seneca."

National Fuel Gas Company

National Fuel Gas Company is a diversified energy company headquartered in Western New York that operates an integrated collection of natural gas and oil assets across four business segments: Exploration and Production, Pipeline and Storage, Gathering, and Utility. Seneca Resources Company, LLC is the exploration and production segment of National Fuel Gas Company.

NFG Contacts: 

Kenneth Webster
Analyst Contact
716-857-7067

Rob Boulware
Media Contact
412-548-2572

U.S. Well Services, Inc.

U.S. Well Services, Inc. is a leading provider of hydraulic fracturing services and a market leader in electric fracture stimulation. The USWS' patented electric frac technology provides one of the first fully electric, mobile well stimulation systems powered by locally-supplied natural gas, including field gas sourced directly from the wellhead. USWS' electric frac technology decreases emissions and sound pollution while generating operational efficiencies, including customer fuel cost savings versus conventional diesel fleets. For more information visit: www.uswellservices.com. Information on the USWS website is not part of this release.

USWS Contacts:

U.S. Well Services
Josh Shapiro
Vice President, Finance and Investor Relations
IR@uswellservices.com

Dennard Lascar Investor Relations
Lisa Elliott
(713) 529.6600
USWS@dennardlascar.com

View original content:https://www.prnewswire.com/news-releases/seneca-resources-company-and-us-well-services-announce-all-electric-well-completion-field-trial-301344651.html

SOURCE U.S. Well Services, Inc.

FAQ

What is the collaboration between Seneca Resources and U.S. Well Services about?

The collaboration focuses on a field trial utilizing USWS' Clean Fleet® technology for electric well completions.

When did the field trial using USWS technology begin?

The field trial started in mid-July 2021.

What are the goals of the field trial in Lycoming County?

The goals include reducing greenhouse gas emissions and analyzing real-time emissions data from well stimulation operations.

What technology is being tested in the field trial?

The technology being tested is USWS' Clean Fleet® technology for all-electric well completions.

What company is behind the electric fracturing technology?

U.S. Well Services (USWS) is the company providing the electric fracturing technology.