Surge Energy America Announces Electric Frack Fleet Field Trial with U.S. Well Services

Rhea-AI Summary

Surge Energy US Holdings has partnered with U.S. Well Services (USWS) for a field trial utilizing USWS' all-electric Clean Fleet® for hydraulic fracturing. This marks Surge’s first use of all-electric technology for well completions, reflecting its commitment to sustainability and reduction of greenhouse gas emissions. USWS aims to showcase operational efficiencies and cost savings compared to traditional diesel fleets through this collaboration. Surge Energy holds approximately 110,000 net acres in the Midland Basin, Texas, and has been recognized among the top oil producers in the state.

Positive

• Partnership with USWS leverages all-electric technology for well completions.
• Focus on sustainability with reduced greenhouse gas emissions.
• Potential for fuel cost savings and operational efficiencies with the Clean Fleet®.

Negative

• None.

HOUSTON, June 25, 2021 /PRNewswire/ -- Surge Energy US Holdings Company ("Surge Energy" or the "Company") announces it will partner with U.S. Well Services (NASDAQ: USWS) ("USWS") on a field trial using USWS' all-electric Clean Fleet®. This project represents Surge's first well completions using all-electric hydraulic fracturing technology.

"The utilization of Surge's electrical infrastructure for fracking is the latest example of Surge's commitment to sustainability through GHG emissions reduction," stated Linhua Guan, Surge's CEO. "We are excited to be partnering with USWS on this project based on both companies' shared commitment to reduce emissions through the use of innovation."

 "U.S. Well Services is pleased to be partnering with Surge Energy," commented Joel Broussard, USWS' President and CEO. "Surge is a leading Permian Basin E&P operator and has consistently proven their commitment to reducing the emissions intensity of their operations through the use of advanced fracturing technology. Surge is an ideal customer for USWS given its dedication to electrifying the oilfield, as evidenced by their investments in infrastructure that could ultimately enable zero-emissions well completions using grid power. We are excited to deploy our Clean Fleet for Surge and demonstrate the fuel cost savings and emissions reduction potential of the technology during this upcoming field trial. We hope to build upon our relationship with Surge and leverage our intellectual property and expertise to help them explore future opportunities."

About 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 Company's 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. The Company's electric frac technology dramatically decreases emissions and sound pollution while generating exceptional operational efficiencies, including significant customer fuel cost savings versus conventional diesel fleets. For more information visit: www.uswellservices.com. Information on our website is not part of this release.

About Surge Energy

Surge Energy US Holdings Company is an independent oil and natural gas company focused on the development, exploitation, production and acquisition of oil and natural gas reserves in the Midland Basin of West Texas, one of three primary sub-basins of the Permian Basin. The Company is headquartered in Houston, Texas, and currently holds approximately 110,000 net acres in the Permian Basin. Based on a Railroad Commission of Texas report, Surge was one of only two internationally sponsored companies in the top 20 oil producers in the state of Texas in 2019. For more information, visit our website at www.SurgeEnergyA.com.

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SOURCE Surge Energy

FAQ

What is the significance of Surge Energy's partnership with USWS on June 25, 2021?

The partnership aims to test USWS' all-electric Clean Fleet® for hydraulic fracturing, marking Surge's commitment to sustainable practices.

How does USWS's Clean Fleet® technology benefit Surge Energy?

The Clean Fleet® technology is expected to provide operational efficiencies and significant fuel cost savings compared to conventional diesel fleets.

What areas does Surge Energy operate in?

Surge Energy primarily operates in the Midland Basin of West Texas, holding approximately 110,000 net acres.

What environmental benefits does the partnership with USWS aim to achieve?

The partnership focuses on reducing greenhouse gas emissions during hydraulic fracturing processes.

Is Surge Energy recognized as a top oil producer?

Yes, Surge Energy was identified as one of the top 20 oil producers in Texas based on a 2019 report.