Evolution Well Services Acquires Field Gas Conditioning Business
THE WOODLANDS, Texas--(BUSINESS WIRE)--Evolution Well Services (“Evolution”) announces the acquisition of the eFrac gas treating division of Alliance OGP (“Alliance”). Evolution and Alliance both have longstanding experience providing mobile field gas conditioning systems for oil & gas operations across the United States. The move strengthens Evolution’s integrated service offering by expanding its industry leading in-house gas conditioning technology and expertise.
The field gas revolution in the oil & gas industry is helping to reduce greenhouse gas emissions as well as provide substantially lower cost operations for E&Ps. Due to natural gas having ~27% lower carbon content versus diesel, switching away from diesel provides E&Ps the opportunity to reduce emissions and align with stakeholder targets. Additionally, using locally produced natural gas eliminates many of the lifecycle emissions typically created with diesel fuel: transportation, refining, and storage. When considering these lifecycle emissions, an estimated ~11% of additional greenhouse gas emissions can be eliminated. Further, leveraging Evolution’s patented mobile power generation and gas conditioning technology to enable field gas use to power oil and gas operations instead of diesel can provide ~95% fuel savings. This results in over $15 million in estimated customer savings per hydraulic fracturing fleet per year.
“As the leader in both electric frac and field gas innovation, we strive to provide the lowest carbon, lowest cost, and highest efficiency operations to our E&P partners. This acquisition demonstrates an even deeper commitment to consistently deliver maximum economic, emissions, and operational value to our customers through our unique integrated service offering,” Steven W. Anderson, President and Chief Executive Officer.
ABOUT EVOLUTION WELL SERVICES
Evolution Well Services is the largest and most experienced provider of electric hydraulic fracturing services. Since inception in 2011, the company has completed over 40,000 stages with its patented electric frac technology across the United States. The company is focused on advancing fracturing technology through digital transformation of the well site & lower carbon technologies. For more information, visit www.Evolutionws.com.
