EQT Corp., Pittsburgh, has let a long-term contract to US Well Services Inc. for electric hydraulic fracturing services to support EQT’s completions activity for 3 years if all optional extensions are exercised.
The partnership was finalized following EQT’s trial of the electric technology beginning in fourth-quarter 2019.
Neither a contract value nor specific plans for the electric fracturing were provided, but Toby Z. Rice, EQT president and chief executive officer, said the agreement secures one-third of the company’s planned activity levels, preserving operational flexibility for the future.
On Mar. 16, EQT noted plans to reduce development activity in its Ohio Utica operations, lowering its expected 2020 capital expenditures by $75 million to $1.075-1.175 billion. Through schedule and well design optimization, the activity reduction is not expected to impact 2020 production guidance of 1,450-1,500 bcfe.