HOUSTON, Oct. 1, 2014 (GLOBE NEWSWIRE) -- U.S. Well Services unveiled historic results from its newly patented Clean Fleet® technology (US Patent No. 8,789,601). The hydraulic fracturing technology, recently implemented by Antero Resources (NYSE: AR), has demonstrated dramatic environmental gains as well as significant cost savings for oil and gas exploration companies. Clean Fleet® is proven to successfully decrease emissions by 99%, dramatic decrease in sound pollution, in addition to operational cost savings of upwards of $40,000/day.
The U.S. Well Services Clean Fleet® has been in use in the Marcellus Shale Play in West Virginia at sites operated by Antero Resources. The results experienced both validate and exceed performance and environmental expectations. In a release to its shareholders, Antero Resources noted the company's usage of the Clean Fleet® technology. Further validating the performance of the patented technology, Antero Resources has committed to its continued future use of Clean Fleet® with additional long-term contracts.
U.S. Well Services CEO, Brian Stewart shared, "We share Antero Resources' excitement over the results of the Clean Fleet® technology. The performance of the new, patented technology is right in line with what we had promised, especially as it relates to fuel savings, emissions reductions, vibration and noise decreases as well as increased reliability. This is a breakthrough for them, but more, it is one for the industry and each of the communities that support hydraulic fracturing. We are especially encouraged that this technology is being embraced by so many leading operators around the country. Its adoption and results further validate the importance of conducting hydraulic fracturing in a more environmentally responsible manner."
Clean Fleet® Technology
Clean Fleet® is a proprietary, patented system developed by U.S. Well Services that incorporates existing industry equipment configured to provide fracturing services with enhanced safety features, smaller physical and environmental footprints, and reduced noise levels at a lower cost relative to traditional fracturing equipment. The Clean Fleet® is the industry's first fully mobile, fully electric hydraulic fracturing system that is powered entirely by natural gas whereby conventional diesel engines are totally replaced with electric motors. Clean Fleet® has demonstrated results:
- Clean Fleet® uses electricity produced by on site turbine generators fueled by field gas, reducing fuel operating costs by 80%.
- Clean Fleet® mitigates environmental exposure by reducing NOx and CO emissions by 99%.
- Clean Fleet® eliminates 25 diesel truck deliveries to the well site for an average horizontal well completion, reducing traffic within communities while also mitigating associated fire hazards.
- Clean Fleet® significantly reduces noise pollution emanating from the well site making the workplace safer and communities undisturbed.
- Clean Fleet® incorporates advanced technology that reduces equipment and discharge iron vibrations by 80%, resulting in fewer failures and safer operations.
The Clean Fleet® offered by U.S. Well Services consists of 14,500 psi technologically advanced hydraulic fracturing fleets manufactured by Stewart & Stevenson Manufacturing Technologies to U.S. Well Services specifications. The fracturing fleets are equipped to perform all aspects of pressure pumping operations.
Antero Resources has announced that it will engage U.S. Well Services into a second long-term contract and expand its use of the Clean Fleet® technology at more of its well sites. Antero Resources' commitment to Clean Fleet® has been followed by many other industry leaders looking for new, proven, environmentally friendly solutions.
Stewart continued, "While we are pleased with the performance of the technology, we are equally excited with the collaboration we experienced with Antero Resources as we worked together to introduce this game changing technology. We view this new contract as a testament to the success of the technology."
About US Well Services
U.S. Well Services, LLC is a Houston, Texas based oilfield services provider of well stimulation services to the upstream oil and gas industry. The company currently engages in high-pressure hydraulic fracturing in unconventional oil and natural gas basins. The company is currently under contract to perform services in the Marcellus and Utica shale regions in Ohio, West Virginia and Pennsylvania and is also evaluating opportunities with existing and new customers to expand our operations into new areas throughout the United States, including the Bakken Shale in North Dakota and Montana, Haynesville Shale in northwestern Louisiana and eastern Texas, the Eagle Ford Shale in southern Texas, the Permian Basin in western Texas and southeastern New Mexico, the Niobrara Shale in Colorado, Wyoming and Nebraska and the Granite Wash formation in Oklahoma. For more information, please visit www.uswellservices.com
A photo accompanying this release is available at: http://www.globenewswire.com/newsroom/prs/?pkgid=28057
CONTACT: Brad Deutser 713.850.2105
Source: US Well Services