U.S. Well Services (NASDAQ:USWS) Stock Attempts To Rebound: Now What?
Leading provider of hydraulic fracturing services and market leader in electric fracture stimulation, U.S. Well Services (NASDAQ:USWS), on July 27, 2011 announced deployment of an all-electric Clean Fleet to work for Pioneer Natural Resources firm. The fleet will facilitate Pioneer’s Midland Basin operations for the quarter four of 2021.
Joel Broussard, USWS’ President and CEO, said that the company is excited to work Pioneer on the field trial. Broussard added that the company is not just best-in-class operator in the Permian Basin but even has leadership position in oil and gas industry through a special focus on reducing greenhouse gas emissions.
Broussard believes that the Clean Fleet technology will allow Pioneer to lower completion costs as well as reduce emissions intensity of the operations.
The company had earlier shared a new presentation for updating investors on its business as well as financial strategy besides providing details on recent transactions. Interested readers can access the same on its website https://ir.uswellservices.com/company-information/presentations.
US Well Services operates in many active and unconventional oil and natural gas basins in the country. The company has fleets operating 24 hours and the capacity to withstand the high utilization rates resulting in efficacy of operations. Its senior management has extensive industry experience across North America.
Market Reaction:
On Tuesday, USWS stock fell 4.73% at $0.9150 with more than 517k shares, compared to its average volume of 3.29 million shares. The stock has moved within a range of $0.9101 – 0.9538 after opening the trade at $0.9604. Over the past 52-week, the stock has been trading within a range of $0.2300 – 3.3700. The stock is up 14% in the pre-market session.
