Benzinga | Jan 13, 2021 06:32AM EST

US Well Services, EQT Report Finalization Of Long-Term Electric Fracturing Contracts, No Terms Disclosed

U.S. Well Services, Inc. (NASDAQ:USWS) today announced it has executed two contracts to expand its electric fracturing services for EQT Corporation (NYSE:EQT). Under the terms of the agreements, U.S. Well Services extended its existing contract for one electric frac fleet and will also deploy a second electric frac fleet on a contracted basis. Both contracts represent multi-year fleet dedications if all optional extensions are exercised.

"We are pleased to broaden our relationship with EQT and provide an additional electric fracturing fleet to support its completion program," commented Joel Broussard, U.S. Well Services' President and Chief Executive Officer. "EQT is a best-in-class E&P operator, and their decision to expand their use of the Clean Fleet(r) technology is further evidence of their commitment to efficiency and environmental stewardship."