Seneca Resources, Evolution Well Services sign 3-year fracking deal
Seneca Resources Company, LLC, the exploration and production unit of National Fuel Gas Company (NYSE: NFG), and Evolution Well Services have announced a three-year agreement to deploy electric fracturing technology across Seneca's Appalachian basin operations, according to a joint press release.
Under the agreement, Evolution will provide its patent-protected electric fracturing technology, in-house power generation, and field gas conditioning services. Seneca's natural gas production will be used to power the electric fracturing operations, which the companies say is intended to reduce fuel and logistics costs and lower the overall environmental footprint of well completions.
"By leveraging our responsibly produced and gathered field gas to power electric fracturing operations, we can reduce fuel and logistics costs, improve reliability and uptime, and lower overall cost of ownership," said Justin Loweth, President of Seneca Resources and NFG Midstream.
Steven W. Anderson, President and CEO of Evolution Well Services, said the arrangement integrates fully electric fracturing technology with field gas conditioning to deliver a completion solution focused on "safety, reliability, and efficiency while reducing operational complexity."
Seneca Resources, headquartered in Houston, Texas, develops natural gas in the Appalachian region, including the Marcellus and Utica Shales. Evolution Well Services is based in The Woodlands, Texas.
