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Tag: USWS STOCK PRICE

  • U.S. Well Services Inc. (USWS) stock Soars High After Hours Following an SEC Filing

    On March 2, 2022, U.S. Well Services Inc. (USWS) filed SC 13D/A: General statement of acquisition of beneficial ownership – amendment, with the U.S. SEC. Consequently, the stock advanced further in the after-hours session on Wednesday while it remained bullish in the regular session as well.

    Source: Uni of Utah

    The regular session saw a huge volume of 2.67 million shares compared to its average volume of 984.2K shares. The USWS stock closed the session in the green at a price of $1.39 per share. Thus, the stock added a value of 8.59% or $0.11 during regular trading. Following the SEC filing, the stock continued to rise as it added a further 15.11% in the after-hours. Hence, USWS had a value of $1.60 per share in the after-hours on Wednesday while 818.12K shares exchanged hands.

    Founded in 2012, U.S. Well Services Inc. provides high-pressure and hydraulic fracturing services in oil and natural gas basins. Currently, the company has a market capitalization of $67.01 million with 52.35 million shares outstanding.

    USWS’ Electric Frac Contract

    On February 18, USWS announced entering into a contract for the provision of electric pressure pumping services to Olympus Energy LLC. Olympus Energy develops natural gas resources in the core of Marcellus and Utica share formations, southern Pennsylvania.

    According to the terms of the contract, the company will be operating a Clean Fleet® for Olympus through 2022, on a contracted basis. Moreover, the terms also include optional extensions for up to two additional years.

    Contract with XCL Resources

    On February 07, the company announced a contract for electric pumping services provision to XCL Resources LLC in Uinta Basin. As per the terms of the agreement, the company would provide a new build Nyx Clean Fleet®. The Nyx Clean Fleet® would work for XCL for up to three years on a contracted basis including optional extensions.

    USWS’ Q4 2021 Financials

    On February 01, the company declared its preliminary unaudited results for Q4 2021.

    In Q4 2021, USWS had total revenue between $38 to $39 million with adjusted EBITDA of $(6)-$(8) million.

    Furthermore, the company had $9-$10 million of capital expenditure in the quarter on an accrual basis.

    On December 31, 2021, the company had total liquidity of $20 million which included $9 million of cash and restricted cash.

    Additionally, the company also reduced its outstanding principal balance on senior secured term loans to $120.7 million at the end of the quarter.

  • Here is why U.S. Well Services Inc. (USWS) stock turnaround in the after-hours on Tuesday?

    The U.S. Well Services Inc. (USWS) shares gained 13.66% in after-hours on Tuesday, July 27, 2021, and closed the daily trading at $1.04. Earlier in the regular trading session of Tuesday, USWS’s stock lost 4.73%. The stock volume remained 2.61 million shares, which was lower than the average daily volume of 3.59 million shares within the past 50 days. USWS shares have risen 116.31% over the last 12 months, and they have moved down 6.14% in the past week. Over the past three months, the stock has gained 21.98%, while over the past six months, it has declined 10.29.

    Let’s have a look at its recent news and developments.

    USWS upcoming Electric Fracturing Work

    On July 27, 2021, U.S. Well Services (USWS) announced to deploy an all-electric Clean Fleet® to work for Pioneer Natural Resources Company. The electric fleet will support Pioneer’s Midland Basin completion operations for the fourth quarter of 2021.

    At this announcement, the President and CEO of USWS Joel Broussard said that the U.S. Well Services is thrilled to be working with Pioneer on this field trial and Clean Fleet technology will enable Pioneer to reduce completion costs while also lowering the emissions intensity of its operations.

    Investor update about USWS Business Strategy and Recent Transactions

    On July 6, 2021, U.S. Well Services released a new company presentation to update investors on the Company’s business and financial strategy, as well as to provide details on recent transactions.

    USWS recent strategic transactions

    • USWS issued $125.5 million of 16% Convertible Senior Secured notes and received $86.5 million of gross proceeds from the sale of Notes.
    • Settled outstanding litigation with Smart Sand following entry of final judgment that awarded Smart Sand approximately $52 million.

    USWS Business and Financial Strategy

    • USWS can build up to four new electric fleets and purchase critical components for two additional fleets, under terms of the amendment to the term loan credit agreement.
    • Resolution of Smart Sand litigation allows USWS to continue selling legacy diesel frac assets and other non-core equipment.
    • USWS expects to convert all outstanding Series B l Over 60% of Series A exchanged for Notes.

    USWS Commitment to Purchase 120 Electric Motors 

    on June 30, 2021, U.S. Well Services committed to purchasing 60 Power Cubes from AmeriMex Motor & Controls, LLC which is a subsidiary of Industrial Service Solutions. Each patented Power Cube contains two 3,000 HHP electric motors, two variable frequency drives, a power transformer and other components that combine to create a self-contained power centre. The Company expects to begin taking delivery of the Power Cubes in the third quarter of 2021.

    Important updates to execute strategic plans

    On June 28, 2021, U.S. Well Services issued $125.5 million of 16.0% Convertible Senior Secured PIK Notes due June 2026 in a private placement to institutional investors. The Company sold $64.0 million of Notes convertible into the U.S. Well Services Class A Common Stock and $22.5 million of Notes convertible into licenses to ProFrac Manufacturing, LLC. The above-mentioned transactions are done to execute its previously announced strategic plan to grow and become a fully electric hydraulic fracturing services provider.

    Conclusion

    The recent USWS announcement about upcoming electric fracturing work was the reason behind its turnaround in the after-hours on Tuesday. It can continue to surge in the coming days as well.

  • Here is why U.S. Well Services Inc. (USWS) performed well on Wednesday?

    Here is why U.S. Well Services Inc. (USWS) performed well on Wednesday?

    U.S. Well Services Inc. (USWS) shares jumped 14.85% in after-hours on Wednesday, June 30, 2021, and closed the day at $1.16 per share. Earlier in the morning session, USWS’s stock gained 2.34% to close Wednesday’s normal trading session at $1.01 per share. USWS shares have risen 107.18% over the last 12 months, and they have moved up 4.12% in the past week. Over the past three months, the stock has lost 2.88%, while over the past six months, it has declined 146.34%.

    Let’s have a look at its recent development.

    Commitment to Purchase 120 Electric Motors 

    on June 30, 2021, U.S. Well Services committed to purchase 60 Power Cubes from AmeriMex Motor & Controls, LLC which is a subsidiary of Industrial Service Solutions. Each patented Power Cube contains two 3,000 HHP electric motors, two variable frequency drives, a power transformer, and other components that combine to create a self-contained power centre. The Company expects to begin taking delivery of the Power Cubes in the third quarter of 2021.

    Important updates to execute strategic plans

    On June 28, 2021, U.S. Well Services issued $125.5 million of 16.0% Convertible Senior SecuredPIK Notes due June 2026 in a private placement to institutional investors. The Company sold $64.0 million of Notes convertible into U.S. Well Services Class A Common Stock and $22.5 million of Notes convertible into licenses to ProFrac Manufacturing, LLC. The above-mentioned transactions are done to execute its previously announced strategic plan to grow and become a fully electric hydraulic fracturing services provider.

    Surge EnergyElectric Frack Fleet Field Trial

    On June 25, 2021, Surge Energy US Holdings Company partnered with the U.S. Well Services on a field trial using USWS’ all-electric Clean Fleet®. This project represents Surge’s first well completions using all-electric hydraulic fracturing technology.

    USWS leaving Diesel Frac Market

    USWS reassured its commitment to fully exit the diesel frac market by the end of 2021 and replacing it with all-electric hydraulic fracturing.

    The company can become the first publicly traded, pure-play electric completion service provider if it fulfils its commitment.

    USWS electric frac technology significantly reduce emissions and sound pollutions. It also increased operating efficacies which reduced major fuel cost savings for the end customers.

    Next-Generation Nyx Clean Fleet® Pump

    On May 19, 2021, U.S. Well Services released the next generation of its proprietary Clean Fleet® technology with the unveiling of its newly designed Nyx Clean Fleet® frac pump. Nyx will use USWS patented PowerCube, driving two independently controlled electric motors and frac pumps to provide 6,000 hydraulic horsepower on a single trailer.

    Partnership with Northeast Natural Energy for Clean Fleet® Trial

    On May 18, 2021, U.S. Well Services announced that it is preparing to commence operations on a 5 well pad located in Monongalia County, W.Va. for Northeast Natural Energy LLC. This project will be NNE’s first well completion using an all-electric hydraulic fracturing fleet provided by USWS.

    Conclusion

    The purchasing of 120 electric motors could be the reason behind its exceptional performance on Thursday. the company is fulfilling its commitment which is providing more trust to investors and hence USWS stock price is going up.