The U.S. Well, Services, Inc. (NASDAQ: USWS) shares rose more than 82% to $0.949 in the pre-market session.
Among the leading providers of hydrofracturing and electric fracture stimulation services, the U.S. Well, Services, Inc. has become a leader in the industry.
A patented electric frac technology by the U.S. Well, Services, Inc. (Nasdaq: USWS) offers one of the first fully electric, mobile well stimulation systems powered by locally supplied natural gas, starting at the wellhead. Using electric frac technology, the Company dramatically reduces emissions and sound pollution while generating exceptional operational efficiencies, including significant reductions in fuel cost for customers compared to conventional diesel fleets.
Recent News and Development:
It was announced yesterday by the U.S. Well Services, Inc. (Nasdaq: USWS) has agreed to sign an extension of its contract to provide electric hydraulic fracturing services to Range Resources Corporation (NYSE: RRC) Appalachian Basin. The U.S. The Well Services President and CEO, Joel Broussard, said, “We are eager to keep working with Range with our proven hydraulic fracturing solution.” “With one another, our companies have optimized Range’s development plan while reducing emissions, noise, and fuel consumption.”
In 2018, the U.S. energy sector saw investments totaling $350 billion (the 2nd-largest in the world) according to the International Energy Agency. At the same time, foreign direct investment in the U.S. industry reached $172.8 billion. Due to covid-19 vows last year, this sector also suffered, however recent figures have been quite upbeat.