U.S. Well Services (NASDAQ: USWS) today announced it has finalized an agreement with a subsidiary of Range Resources Corporation (NYSE: RRC) (“Range”) to extend its existing electric fleet contract with Range following its expiration in November 2022. Under the terms of the extension, USWS will deploy a new Nyx Clean Fleet® in November 2022 that will support Range’s Appalachian completion program through the end of 2024.
“U.S. Well Services is proud to continue our relationship with Range Resources,” said Joel Broussard, USWS‘ President and CEO. “Range is not only a best-in-class E&P operator in the Marcellus, but also a strong partner for USWS. This extension represents our third contract with Range to provide safe and efficient well completions since mid-2019. We believe this extension highlights the value offered by our electric fracturing technology, as rapidly rising diesel prices and the continued effort to reduce greenhouse gas emissions are of increasing concern to our customers. We look forward to delivering the Nyx fleet for Range and demonstrating the capabilities of our next-generation electric fracturing technology.”
“We are excited to continue our partnership with U.S. Well Services,” said Dennis Degner, Range Resources, Chief Operating Officer. “This technology is part of Range’s plan to achieve our strategic goal of net zero Scope 1 and Scope 2 greenhouse gas emissions by 2025. This partnership has also allowed us to continue our improvement as a leader on capital efficiency and operational safety in Appalachia.”