HOUSTON, Sept. 1,
2022 /PRNewswire/ -- NexTier Oilfield Solutions
Inc. (NYSE: NEX) ("NexTier" or the "Company") and Seneca Resources
Company, LLC ("Seneca"), the Exploration and Production segment of
National Fuel Gas Company (NYSE: NFG), today announced the upcoming
deployment of NexTier's first electric Emerald™ fracturing system,
a fully integrated electric fracturing fleet commencing in the
first quarter of calendar year 2023.
Operations under the multi-year agreement are designed to
deliver optimal fracturing performance while decreasing emissions,
lowering fuel costs and reducing the equipment footprint.
Providing electrified completion services on Seneca well sites
in the Marcellus and Utica shale plays of the Appalachian Basin,
the Emerald™ fracturing system, NexTier's integrated electric frac
and wireline fleet, will receive on-site power generation from
VoltaGrid LLC's advanced power generation system featuring proven
dynamic response reciprocating natural gas generators. These
generators powering NexTier's electric Emerald™ fracturing system
will be fueled by natural gas produced in the field by Seneca. Each
Emerald pumping unit incorporates two fully independent 3,000-HHP
electric pumps on a single trailer, which produces abundant pumping
power with a smaller equipment footprint than conventional diesel
powered fracturing fleets.
"NexTier is pleased to align with Seneca for the deployment of
our first electric powered fleet. Our strategy of providing
industry-leading natural gas-powered frac fleets benefits NexTier
and our customers with a reduced emissions profile, lower fuel
cost, improved safety and more efficient completions operations,"
said Robert Drummond, President and
Chief Executive Officer of NexTier. "This initiative demonstrates
the forward thinking and alignment accomplished through our
long-standing relationship with Seneca as our work together
progresses from Tier 4 Dynamic Gas Blending technology to electric
completions. We are excited to work hand in hand with Seneca and
VoltaGrid to achieve this milestone in our Low Cost, Low Emissions
journey."
"We have closely followed innovations in hydraulic fracturing
equipment and last year completed a comprehensive, real-time
in-field study evaluating the emissions generated by various types
of completion equipment," Justin
Loweth, President of Seneca Resources, said. "The
results of these field trials provided us with high quality
comparative data on the emissions profile of these completion
technologies, supporting our decision to select NexTier's electric
equipment that aligns with our long-term sustainability goals,
which are focused on the significant reduction in methane intensity
and greenhouse gas emissions from our operations."
About NexTier Oilfield Solutions
Headquartered in Houston,
Texas, NexTier (www.NexTierOFS.com) is America's premier
onshore well-completions company, offering lower-carbon solutions
to optimize oilfield production. Powered by our AI-driven NexHub™
Digital Center – and supplemented by our Power Solutions natural
gas fueling services – our integrated operations are proven to
reduce fuel costs, improve efficiencies and decrease emissions.
Employing sustainable practices and equipment throughout our
operations, a diverse team of talented professionals delivers a
range of integrated completion services that, when used in
conjunction, can deliver increased production at an overall lower
cost per barrel.
About National Fuel Gas Company: National Fuel is a
diversified energy company headquartered in Western New York that operates an integrated
collection of natural gas assets across four business segments:
Exploration and Production, Pipeline and Storage, Gathering, and
Utility. Additional information about National Fuel is available
at www.nationalfuel.com.
NFG Contacts:
Brandon Haspett
Analyst Contact
716-857-7697
Rob Boulware
Media Contact
412-548-2572
NEXTIER Contacts:
Kenneth Pucheu
Executive Vice President - Chief Financial Officer
Michael Sabella
Vice President - Investor Relations and Business Development
michael.sabella@nextierofs.com
Cautionary Statements
Certain statements contained herein, including statements
identified by the use of the words "anticipates," "expects,"
"intends," "plans," "predicts," "projects," "believes," "will,"
"may," and similar expressions, and statements other than
statements of historical facts, are "forward-looking statements" as
defined by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements, including statements contained
herein regarding expectations for the performance of NexTier's
electric fracturing fleet, involve risks and uncertainties,
which could cause actual results or outcomes to differ materially
from those expressed in the forward-looking statements. While
National Fuel's and NexTier's expectations, beliefs, and
projections are expressed in good faith and are believed to have a
reasonable basis, actual results may differ materially from those
projected in forward-looking statements. In addition to other
factors, the following are important factors that could cause
actual results to differ materially from those discussed in the
forward-looking statements: (1) National Fuel's and NexTier's
ability to estimate accurately the time and resources necessary to
implement new practices; and (2) the other risks and uncertainties
described in National Fuel's and NexTier's Securities and Exchange
Commission filings, including (i) National Fuel's most recent
Annual Report on Form 10-K at Item 7, MD&A, and Quarterly
Reports on Form 10-Q at Item 2, MD&A, under the heading "Safe
Harbor for Forward-Looking Statements," (ii) NexTier's most recent
Annual Report on Form 10-K at Item 7, MD&A and Quarterly
Reports on Form 10-Q at Item 2, MD&A and in such reports under
heading "Cautionary Statement Regarding Forward-Looking Statements
and Information" and (iii) the "Risk Factors" included in National
Fuel's and NexTier's respective most recent Annual Reports on Form
10-K at Item 1A and in subsequent Quarterly Reports on Form 10-Q at
Item 1A, Risk Factors. National Fuel and NexTier disclaim any
obligation to update any forward-looking statements to reflect
events or circumstances after the date hereof. Because of these
risks and uncertainties, readers should not place undue reliance on
these forward-looking statements or use them for anything other
than their intended purpose.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/nextier-and-seneca-resources-enter-agreement-for-electric-powered-emerald-fracturing-system-in-appalachian-basin-301616762.html
SOURCE NexTier Oilfield Solutions