HOUSTON, May 17, 2021 /PRNewswire/ -- U.S. Well Services,
Inc. (the "Company", "U.S. Well Services" or "we") (NASDAQ: USWS)
today reported first quarter 2021 financial and operational
results.
First Quarter 2021 Highlights
- Averaged 8.8 fully-utilized fleets compared to 5.3
fully-utilized fleets during the fourth quarter of 2020
- Total revenue of $76.3 million
compared to $48.1 million in the
fourth quarter of 2020
- Net loss attributable to the Company of $20.6 million compared to net loss of
$29.9 million in the fourth quarter
of 2020
- Adjusted EBITDA(1) of $11.5
million compared to $1.8
million in the fourth quarter of 2020
- Reported annualized Adjusted EBITDA per fully-utilized fleet of
$5.2 million compared to $1.4 million for the fourth quarter of
2020(2)
- Financial results were impacted by approximately 7 days of lost
work due to the severe and abnormal winter storm impacting
Texas in February, resulting in an
estimated $5.0 - $5.5 million of lost revenue during that time
period
- Total liquidity, consisting of cash and availability under the
Company's asset-backed revolving credit facility, was $32.3 million as of March
31, 2021
(1)
|
Each of Adjusted
EBITDA and Adjusted EBITDA margin is a Non-GAAP financial measure.
Please read "Non-GAAP Financial Measures."
|
(2)
|
Adjusted EBITDA per
fully-utilized fleet equivalent is defined as Adjusted EBITDA
divided by the product of average active fleets during the quarter
and the utilization rate for active fleets during the
quarter.
|
"U.S. Well Services delivered another strong quarter,
redeploying four fleets to meet the growing demand for our
services," commented Joel Broussard,
U.S. Well Services' President and CEO. "Our operations in
Texas were impacted by the severe
winter storm in February that resulted in an average of seven days
of lost work for seven of our active fleets. In spite of
these challenges, our team performed exceptionally, delivering
best-in-class service for our customers."
"Hydraulic fracturing activity accelerated throughout the
first quarter, which resulted in a significant number of fleet
reactivations across the industry. In the current market,
demand remains highest for fleets using next-generation,
low-emission technology. U.S. Well Services' proprietary
Clean Fleet® technology offers best-in-class fuel cost and
greenhouse gas emissions reductions, and as such, continues to
experience elevated demand."
Outlook
As anticipated, the first quarter of 2021 saw a sharp uptick in
activity across the industry as E&P producers responded to
higher crude oil prices. U.S. Well Services expects E&P
operators to demonstrate capital discipline going forward, which
may limit demand for incremental fracturing fleets in the near
term.
While the active fleet count in the U.S. recovered along with
the broader oil and gas market, pricing for conventional
diesel-powered frac services has lagged. This segment of the
market remains oversupplied and faces unsustainable pricing
levels. U.S. Well Services has been actively working with its
customers to begin implementing price increases during the second
quarter of 2021. The Company is committed to operating with
discipline and will only maintain fleets that are priced to meet
return and cash flow objectives.
First Quarter 2021 Financial Summary
Revenue for the first quarter of 2021 increased 59% to
$76.3 million versus $48.1 million in the fourth quarter of 2020,
driven by an increase in activity levels. This increase was
partially offset by an estimated $5.0
- $5.5 million of lost revenue due to
work stoppages for seven of our active fleets impacted by the
winter storms in Texas during the
month of February. U.S. Well Services averaged 10.0 active
fleets during the quarter, as compared to 5.7 for the fourth
quarter of 2020. Utilization of the Company's active fleets
averaged 88% during the first quarter, resulting in a
fully-utilized equivalent of 8.8 fleets. This compares to 93%
utilization and a fully-utilized equivalent of 5.3 fleets for the
fourth quarter of 2020. Absent the work stoppages for the
winter storm, our utilization would have been 93%, resulting in 9.3
fully-utilized fleets.
Costs of services, excluding depreciation and amortization, for
the first quarter of 2021 increased to $62.6
million from $42.5 million
during the fourth quarter of 2020, driven by higher labor, repair
and maintenance costs resulting from the increase in activity.
Selling, general and administrative expense ("SG&A")
declined to $7.4 million in the first
quarter of 2021 from $13.3 million in
the fourth quarter of 2020. Excluding stock-based
compensation and non-cash charges for doubtful collections of
accounts receivables, SG&A in the first quarter of 2021 was
$5.9 million compared to $5.6 million in the fourth quarter of 2020. This
sequential increase was primarily attributable to an increase in
personnel costs.
Net loss attributable to the Company decreased sequentially to
$20.6 million in the first quarter of
2021 from $29.9 million in the fourth
quarter of 2020. Adjusted EBITDA increased to $11.5 million in the first quarter of 2021 from
$1.8 million in the fourth quarter of
2020. Annualized Adjusted EBITDA per fully-utilized fleet was
$5.2 million and Adjusted EBITDA
margin was 15%.(1)
Operational Highlights
U.S. Well Services exited the first quarter with eleven active
frac fleets, which includes all five of our Clean Fleets®.
Three fleets were working in the Appalachian Basin, two fleets were
in the Eagle Ford and six fleets were in the Permian Basin.
The Company expects to maintain between nine and ten active fleets
during the second quarter of 2021.
During the first quarter of 2021, U.S. Well Services completed
4,537 frac stages, or approximately 516 stages per fully-utilized
fleet, compared to 3,168 frac stages and 598 stages per
fully-utilized fleet during the fourth quarter of 2020.
Pumping hours per day decreased approximately 2%
sequentially. The Company pumped for 8,327 hours during 689
frac days, as compared to 5,121 hours during 416 frac days in the
fourth quarter of 2020. The Company's stages per
fully-utilized fleet, frac days and total pumping hours were all
adversely impacted by the severe winter storm in Texas.
U.S. Well Services continues to be a market leader in electric
fracturing, with 20,891 electric fracturing stages completed since
the deployment of our first Clean Fleet® in 2014. The
Company continued to expand its intellectual property portfolio
during the first quarter, and currently has 42 patents, with 190
patents pending.
Balance Sheet and Capital Spending
As of March 31, 2021, total
liquidity was $32.3 million,
consisting of $18.2 million of cash
on the Company's balance sheet and $14.1
million of availability under the Company's asset-backed
revolving credit facility, and net debt was $307.3 million.
Maintenance capital expenditures, on an accrual basis, were
$9.6 million for the quarter.
Conference Call Information
The Company will host a conference call at 10:00 am Central / 11:00
am Eastern Time on Monday, May 17, 2021 to discuss financial
and operating results for the first quarter of 2021 and recent
developments. This call will also be webcast and an investor
presentation will be available on U.S. Well Services' website at
https://ir.uswellservices.com/news-events/ir-calendar. To
access the conference call, please dial 201-389-0872 and ask for
the U.S. Well Services call at least 10 minutes prior to the start
time or listen to the call live over the Internet by logging on to
the Company's website from the link above. A telephonic
replay of the conference call will be available through
May 24, 2021 and may be accessed by
calling 201-612-7415 using passcode 13719825. A webcast
archive will also be available at the link above shortly after the
call and will be accessible for approximately 90 days.
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.
The information on our website is not part of this release.
Forward-Looking Statements
The information above includes "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. All statements, other than statements of historical facts,
included herein concerning, among other things, availability under
the Company's credit facilities, benefits obtained from the
Company's strategic financing transactions, the Company's financial
position and liquidity, business strategy and objectives for future
operations, results of discussions with potential customers,
potential new contract opportunities and planned deployment and
operation of fleets, are forward-looking statements. These
forward-looking statements may be identified by their use of terms
and phrases such as "may," "expect," "guidance," "estimate,"
"project," "plan," "believe," "intend," "achievable," "anticipate,"
"will," "continue," "potential," "should," "could," "target" and
similar terms and phrases. Although the Company believes that the
expectations reflected in these forward-looking statements are
reasonable, they do involve certain assumptions, risks and
uncertainties. These forward-looking statements represent the
Company's current expectations or beliefs concerning future events,
and it is possible that the results described in this release will
not be achieved. These forward-looking statements are subject to
certain risks, uncertainties and assumptions, including those
identified in this release or disclosed from time to time in the
Company's filings with the Securities and Exchange Commission (the
"SEC"). Factors that could cause actual results to differ from the
Company's expectations include changes in market conditions,
changes in commodity prices, changes in supply and demand for oil
and gas, changes in demand for our services, availability of
financing and capital, the Company's liquidity, the Company's
compliance with covenants under its credit agreements, actions by
customers and potential customers, geopolitical events, public
health crises, such as a pandemic, including the recent COVID-19
pandemic, availability of equipment and personnel and other factors
described in the Company's public disclosures and filings with the
SEC, including those described under "Risk Factors" in our annual
report on Amendment No. 1 to our Annual Report on Form 10-K/A for
the year ended December 31, 2020
filed on May 17, 2021 and in our
quarterly reports on Form 10-Q. As a result of these factors,
actual results may differ materially from those indicated or
implied by forward-looking statements.
Any forward-looking statement speaks only as of the date on
which it is made, and, except as required by law, the Company does
not undertake any obligation to update or revise any
forward-looking statement, whether as a result of new information,
future events or otherwise.
- Tables to Follow -
U.S. WELL
SERVICES, INC.
|
CONDENSED
CONSOLIDATED STATEMENTS OF OPERATIONS
|
(unaudited and
amounts in thousands except for active fleets and per share
amounts)
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
|
March 31,
2021
|
|
December 31,
2020
As Restated
|
|
March 31, 2020
As Restated
|
|
|
|
|
|
|
|
|
Statement of
Operations Data:
|
|
|
|
|
|
|
Revenue
|
$
76,258
|
|
$
48,093
|
|
$
112,035
|
|
Costs and
expenses:
|
|
|
|
|
|
|
Cost of services
(excluding depreciation and
amortization)
|
62,631
|
|
42,482
|
|
85,153
|
|
Depreciation and
amortization
|
11,106
|
|
14,594
|
|
32,008
|
|
Selling, general and
administrative expenses
|
7,390
|
|
13,256
|
|
19,058
|
|
Impairment of
long-lived assets
|
-
|
|
-
|
|
147,543
|
|
Loss on disposal of
assets
|
2,436
|
|
1,260
|
|
4,244
|
|
Loss from
operations
|
(7,305)
|
|
(23,499)
|
|
(175,971)
|
|
Interest expense,
net
|
(6,183)
|
|
(5,856)
|
|
(7,956)
|
|
Change in fair value
of warrant liabilities
|
(7,151)
|
|
(631)
|
|
6,553
|
|
Other
income
|
29
|
|
27
|
|
6
|
|
Loss before income
taxes
|
(20,610)
|
|
(29,959)
|
|
(177,368)
|
|
Income tax expense
benefit
|
-
|
|
-
|
|
(750)
|
|
Net loss
|
(20,610)
|
|
(29,959)
|
|
(176,618)
|
|
Net loss attributable
to noncontrolling interest
|
(44)
|
|
(100)
|
|
(10,800)
|
|
Net loss attributable
to U.S. Well Services, Inc.
|
$
(20,566)
|
|
$
(29,859)
|
|
$
(165,818)
|
|
Dividends accrued on
Series A preferred stock
|
(1,813)
|
|
(1,764)
|
|
(1,751)
|
|
Dividends accrued on
Series B preferred stock
|
(711)
|
|
(702)
|
|
-
|
|
Deemed and imputed
dividends on Series A preferred
stock
|
(464)
|
|
(444)
|
|
(6,972)
|
|
Deemed dividends on
Series B preferred stock
|
(4,168)
|
|
(410)
|
|
-
|
|
Net loss attributable
to U.S. Well Services, Inc. common
stockholders
|
$
(27,722)
|
|
$
(33,179)
|
|
$
(174,541)
|
|
|
|
|
|
|
|
|
Net loss attributable
to U.S. Well Services, Inc. stockholders per common
share:
|
|
|
|
|
|
Basic and
diluted
|
(0.35)
|
|
(0.47)
|
|
(2.90)
|
|
Weighted average
common shares outstanding:
|
|
|
|
|
|
|
Basic and
diluted
|
78,977
|
|
68,801
|
|
58,620
|
|
|
|
|
|
|
|
|
Other Financial
and Operational Data
|
|
|
|
|
|
|
Capital Expenditures
(2)
|
11,779
|
|
5,649
|
|
23,302
|
|
Adjusted EBITDA
(3)
|
11,508
|
|
1,807
|
|
12,748
|
|
Average Active
Fleets
|
10.0
|
|
5.7
|
|
10.7
|
|
|
|
|
|
|
|
|
(1) Capital
expenditures presented above are shown on an accrual
basis.
|
(2) Adjusted EBITDA
is a Non-GAAP Financial Measure. See the tables entitled
"Reconciliation and Calculation of Non-GAAP Financial and
Operational Measures" below.
|
|
U.S. WELL
SERVICES, INC.
|
CONDENSED
CONSOLIDATED BALANCE SHEETS
|
(unaudited,
amounts in thousands except shares)
|
|
|
|
|
|
|
|
March 31,
2021
|
|
December 31,
2020
As Restated
|
ASSETS
|
|
|
|
CURRENT
ASSETS:
|
|
|
|
Cash and cash
equivalents
|
$
17,726
|
|
$
3,693
|
Restricted
cash
|
519
|
|
1,569
|
Accounts receivable
(net of allowance for doubtful accounts of
$0 and $12,000 as of March 31, 2021 and December 31,
2020, respectively)
|
61,756
|
|
44,393
|
Inventory,
net
|
8,077
|
|
7,965
|
Prepaids and other
current assets
|
14,048
|
|
10,707
|
Total current
assets
|
102,126
|
|
68,327
|
Property and
equipment, net
|
233,502
|
|
235,332
|
Intangible assets,
net
|
13,225
|
|
13,466
|
Goodwill
|
4,971
|
|
4,971
|
Deferred financing
costs, net
|
781
|
|
1,127
|
TOTAL
ASSETS
|
$
354,605
|
|
$
323,223
|
LIABILITIES
AND STOCKHOLDERS' DEFICIT
|
|
|
|
CURRENT
LIABILITIES:
|
|
|
|
Accounts
payable
|
$
45,113
|
|
$
36,362
|
Accrued expenses and
other current liabilities
|
11,989
|
|
14,781
|
Notes
payable
|
9,123
|
|
998
|
Current portion of
long-term equipment financing
|
3,564
|
|
3,519
|
Current portion of
long-term capital lease obligation
|
218
|
|
54
|
Current portion of
long-term debt
|
10,000
|
|
10,000
|
Total current
liabilities
|
80,007
|
|
65,714
|
Warrant
liabilities
|
8,775
|
|
1,619
|
Long-term equipment
financing
|
8,438
|
|
9,347
|
Long-term capital
lease obligation
|
661
|
|
-
|
Long-term
debt
|
293,503
|
|
274,555
|
Other long-term
liabilities
|
3,617
|
|
3,539
|
TOTAL
LIABILITIES
|
395,001
|
|
354,774
|
|
|
|
|
MEZZANINE
EQUITY
|
|
|
|
Series A Redeemable
Convertible Preferred Stock, par value $0.0001 per share;
55,000 shares authorized; 50,000 shares issued and
outstanding as of
March 31, 2021 and December 31, 2020; aggregate
liquidation preference of
$62,230 and $60,418 as of March 31, 2021 and December
31, 2020, respectively
|
53,252
|
|
50,975
|
Series B Redeemable
Convertible Preferred Stock, par value $0.0001 per share;
22,050 shares authorized; 21,288 shares and 22,050
shares issued and
outstanding as of March 31, 2021 and December 31,
2020, respectively; aggregate
liquidation preference of $24,013 and $24,100 as of
March 31, 2021 and
December 31, 2020, respectively
|
22,600
|
|
22,686
|
STOCKHOLDERS'
DEFICIT
|
|
|
|
Class A Common Stock,
par value of $0.0001 per share; 400,000,000 shares
authorized; 90,068,356 shares and 72,515,342 shares
issued and outstanding
as of March 31, 2021 and December 31, 2020,
respectively
|
9
|
|
7
|
Class B Common Stock,
par value of $0.0001 per share; 20,000,000 shares
authorized; 0 shares and 2,302,936 shares issued and
outstanding as of
March 31, 2021 and December 31, 2020,
respectively
|
-
|
|
-
|
Additional paid in
capital
|
226,740
|
|
217,212
|
Accumulated
deficit
|
(342,997)
|
|
(322,431)
|
Total Stockholders'
Deficit
|
(116,248)
|
|
(105,212)
|
TOTAL LIABILITIES,
MEZZANINE EQUITY AND STOCKHOLDERS' DEFICIT
|
$
354,605
|
|
$
323,223
|
|
|
|
|
|
|
|
|
|
$
-
|
|
$
-
|
U.S. WELL
SERVICES, INC.
|
CONDENSED
CONSOLIDATED STATEMENTS OF CASH FLOWS
|
(unaudited and
amounts in thousands)
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
|
March 31,
2021
|
|
March 31, 2020
As Restated
|
CASH FLOWS FROM
OPERATING ACTIVITIES:
|
|
|
|
|
Net loss
|
|
$
(20,610)
|
|
$
(176,618)
|
Adjustments to
reconcile net loss to cash provided by operating
activities
|
|
|
|
|
Depreciation and
amortization
|
|
11,106
|
|
32,008
|
Change in fair value
of warrant liabilities
|
|
7,151
|
|
(6,553)
|
Impairment of
long-lived assets
|
|
-
|
|
147,543
|
Loss on disposal of
assets
|
|
2,436
|
|
4,244
|
Share-based
compensation expense
|
|
1,648
|
|
2,078
|
Other noncash
items
|
|
1,573
|
|
9,648
|
Changes in working
capital
|
|
(14,320)
|
|
(23,909)
|
Net cash provided
by operating activities
|
|
(11,016)
|
|
(11,559)
|
CASH FLOWS FROM
INVESTING ACTIVITIES:
|
|
|
|
|
Purchase of property
and equipment
|
|
(14,218)
|
|
(35,017)
|
Proceeds from sale of
property and equipment and insurance proceeds
from damaged property and equipment
|
|
6,393
|
|
14,907
|
Net cash used in
investing activities
|
|
(7,825)
|
|
(20,110)
|
CASH FLOWS FROM
FINANCING ACTIVITIES:
|
|
|
|
|
Proceeds from
revolving credit facility
|
|
21,174
|
|
9,476
|
Repayment of
revolving credit facility
|
|
(9,000)
|
|
(2,381)
|
Proceeds from
issuance of long-term debt
|
|
3,004
|
|
-
|
Repayments of
long-term debt
|
|
(1,250)
|
|
(2,500)
|
Proceeds from
issuance of note payable
|
|
9,139
|
|
-
|
Repayments of notes
payable
|
|
(1,014)
|
|
(2,042)
|
Repayments of amounts
under equipment financing
|
|
(864)
|
|
(1,308)
|
Principal payments
under capital lease obligation
|
|
(34)
|
|
(1,393)
|
Proceeds from
issuance of common stock, net
|
|
10,669
|
|
-
|
Net cash provided
by financing activities
|
|
31,824
|
|
(148)
|
Net increase
(decrease) in cash and cash equivalents and restricted
cash
|
|
12,983
|
|
(31,817)
|
Cash and cash
equivalents and restricted cash, beginning of period
|
|
5,262
|
|
41,404
|
Cash and cash
equivalents and restricted cash, end of period
|
|
$
18,245
|
|
$
9,587
|
Non-GAAP Financial Measures
The Company reports its financial results in accordance with
GAAP. The Company believes, however, that certain non-GAAP
performance measures allow external users of its consolidated
financial statements, such as industry analysts, investors, lenders
and rating agencies, to more effectively evaluate its operating
performance and compare the results of its operations from period
to period and against the Company's peers without regard to the
Company's financing methods or capital structure. Additionally, the
Company believes the use of certain non-GAAP measures highlights
trends in the Company's business that may not otherwise be apparent
when relying solely on GAAP measures.
Reconciliation of Net Income to Adjusted EBITDA
EBITDA and Adjusted EBITDA are non-GAAP financial measures and
should not be considered as a substitute for net income (loss),
operating income (loss) or any other performance measure derived in
accordance with GAAP or as an alternative to net cash provided by
operating activities as a measure of the Company's profitability or
liquidity. The Company's management believes EBITDA and Adjusted
EBITDA are useful because they allow external users of its
consolidated financial statements, such as industry analysts,
investors, lenders and rating agencies, to more effectively
evaluate the Company's operating performance, compare the results
of its operations from period to period and against the Company's
peers without regard to the Company's financing methods or capital
structure and because it highlights trends in the Company's
business that may not otherwise be apparent when relying solely on
GAAP measures. The Company believes EBITDA and Adjusted EBITDA are
important supplemental measures of its performance that are
frequently used by others in evaluating companies in its industry.
Because EBITDA and Adjusted EBITDA exclude some, but not all, items
that affect net income (loss) and may vary among companies, the
EBITDA and Adjusted EBITDA that the Company presents may not be
comparable to similarly titled measures of other companies.
The Company defines EBITDA as earnings before interest, income
taxes, depreciation and amortization. The Company defines Adjusted
EBITDA as EBITDA excluding the following: loss on disposal of
assets; share-based compensation; impairments; and other items that
the Company believes to be non-recurring in nature. The
Company defines Adjusted EBITDA margin as Adjusted EBITDA as a
percentage of Revenue.
U.S. WELL
SERVICES, INC.
|
RECONCILIATION OF
NET LOSS (GAAP) TO EBITDA AND ADJUSTED EBITDA
(NON-GAAP)
|
(unaudited,
amounts in thousands)
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
|
March 31,
2021
|
|
December 31,
2020
As Restated
|
|
March 31, 2020
As Restated
|
|
Net loss
|
$
(20,610)
|
|
$
(29,959)
|
|
$
(176,618)
|
|
Interest expense,
net
|
6,183
|
|
5,856
|
|
7,956
|
|
Income tax
expense
|
-
|
|
-
|
|
(750)
|
|
Depreciation and
amortization
|
11,106
|
|
14,594
|
|
32,008
|
|
EBITDA
|
(3,321)
|
|
(9,509)
|
|
(137,404)
|
|
Loss on disposal of
assets (a)
|
2,436
|
|
1,260
|
|
4,244
|
|
Share based
compensation (b)
|
1,648
|
|
5,537
|
|
2,078
|
|
Change in fair value
of warrant liabilities (c)
|
7,151
|
|
631
|
|
(6,553)
|
|
Fleet start-up,
relocation, and reactivation costs (d)
|
2,301
|
|
2,460
|
|
-
|
|
Severance, business
restructuring, and market-driven costs (e)
|
1,144
|
|
1,428
|
|
2,840
|
|
Transaction related
costs (f)
|
149
|
|
-
|
|
-
|
|
Impairment loss
(g)
|
-
|
|
-
|
|
147,543
|
|
Adjusted
EBITDA
|
$
11,508
|
|
$
1,807
|
|
$
12,748
|
|
|
|
|
|
|
|
|
(a) Represents net
losses on the disposal of property and equipment.
|
|
|
|
|
|
|
(b) Represents
non-cash share-based compensation.
|
|
|
|
|
|
|
(c) Represents a
non-cash change in fair value of warrant liabilities.
|
(d) Represents costs
related to the start-up, relocation and / or reactivation of
hydraulic fracturing fleets.
|
(e) Represents
severance, restructuring cost related to reductions in force and
facility closures, and market driven-costs associated with the
COVID-19 pandemic.
|
|
(f) Represents
third-party professional fees and other costs related to strategic
and capital market transactions.
|
|
|
|
|
|
(g) Represents
non-cash impairment charge on long-lived assets.
|
|
|
|
|
|
|
Contacts:
|
U.S. Well
Services
|
|
Josh Shapiro, VP,
Finance and Investor Relations
|
|
(832)
562-3730
|
|
IR@uswellservices.com
|
|
|
|
Dennard Lascar
Investor Relations
|
|
Ken Dennard / Lisa
Elliott
|
|
(713)
529-6600
|
|
USWS@dennardlascar.com
|
View original
content:http://www.prnewswire.com/news-releases/us-well-services-announces-first-quarter-2021-financial-and-operational-results-301292162.html
SOURCE U.S. Well Services, Inc.