HOUSTON, July 27, 2021 /PRNewswire/ -- U.S. Well
Services (NASDAQ: USWS) ("USWS" or the "Company") today announced
it will be deploying an all-electric Clean Fleet® to work for
Pioneer Natural Resources Company (NYSE: PXD) ("Pioneer").
The electric fleet will support Pioneer's Midland Basin
completion operations for the fourth quarter of 2021.
"U.S. Well Services is thrilled to be working with Pioneer on
this field trial," commented Joel
Broussard, USWS' President and CEO. "Pioneer is not
only a best-in-class operator in the Permian Basin, but has also
taken a leadership role in the oil and gas industry by committing
to reducing greenhouse gas emissions. We believe our Clean
Fleet® technology will enable Pioneer to reduce completion costs
while also lowering the emissions intensity of its operations.
"
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, sound pollution and truck traffic
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.
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, the private
placement and the use of proceeds and the expected impact of the
transactions on the Company's financial position and prospects, if
at all, are forward-looking statements. These forward-looking
statements may be identified by their use of terms and phrases such
as "may," "expect," "believe," "intend," "estimate," "project,"
"plan," "may," "anticipate," "will," "should," "could," 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, including the ability and willingness of the
Organization of Petroleum Exporting Countries ("OPEC") and non–OPEC
countries, such as Russia, to set
and maintain production levels and prices for oil, and the impact
of epidemics, pandemics or other major public health issues, such
as the COVID–19 coronavirus, as well as the other risks,
uncertainties and assumptions identified in this release or as
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 and other factors described in
the Company's public disclosures and filings with the SEC,
including those described under "Risk Factors" in its annual report
on Form 10-K filed on March 11, 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. New factors emerge from time to time,
and it is not possible for us to predict all such factors.
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
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SOURCE U.S. Well Services, Inc.