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U.S. Well Services

Company Summary

Description

U.S. Well Services, provides high-pressure, hydraulic fracturing services in unconventional oil and natural gas basins. Both our conventional (diesel) and Clean Fleet® (electric) hydraulic fracturing fleets are among the most reliable and highest performing fleets in the industry, with the capability to meet the most demanding pressure and pump rate requirements in the industry. USWS operates in many of the active shale and unconventional oil and natural gas basins of the United States and its clients benefit from the performance and reliability of equipment and personnel. Specifically, all of USWS' fleets operate on a 24 hour basis and have the ability to withstand the high utilization rates that result in more efficient operations. USWS' senior management team has extensive industry experience providing pressure pumping services to exploration and production companies across North America.

Website

http://uswellservices.com/

Recent news

  • 11/2/2022 - ProFrac Holding Corp.... (subscriber access)
  • 6/22/2022 - ProFrac Holding Corp.... (subscriber access)
  • 5/16/2022 - U.S. Well Services... (subscriber access)
  • 12/8/2021 - U.S. Well Services... (subscriber access)
  • 9/30/2021 - U.S. Well Services... (subscriber access)

Company Transactions

Date: 12/31/2022
Type: Acquisition

BUYERS:
  • ProFrac Holdings
    • SELLERS:
  • U.S. Well Services
    • DETAILS:
    NOTES:
    ProFrac Holding Corp. has reached a deal to acquire U.S. Well Services in a stock-for-stock transaction that includes a ratio of 0.0561 shares of ProFrac for each share of USWS held. They plan to close on the deal in 4Q22.
    REGIONS:
  • North America

    • Date: 11/2/2022
    Type: Acquisition

    BUYERS:
  • ProFrac Holdings
    • SELLERS:
  • U.S. Well Services
    • DETAILS:

    COST: 270 $MM

    NOTES:
    The combined firms create an industry leader in the electric frac space, with ProFrac Executive Chairman Matt Wilks citing that they will have "an expected 44 active fleets by the first quarter of 2023, including 12 electric fleets and over 13 Tier IV dual fuel fleets."
    REGIONS:
  • North America

    • Date: 11/16/2018
    Type: Merger

    BUYERS:
  • Matlin & Partners Acquisition Corporation
    • SELLERS:
  • U.S. Well Services
    • DETAILS:
    NOTES:
    Matlin & Partners Acquisition Corporation has entered into a merger and combination agreement with U.S. Well Services to create a publicly listed company worth $588 million.
    REGIONS:
  • United States