Green Field Energy Services Begins Hydraulic Fracturing Services for Shell
LAFAYETTE, La., May 25, 2012 /PRNewswire/ — Green Field Energy Services, Inc. (CUSIP: 39304KAA4), announces the commencement of pressure pumping work under a long term contract signed with Shell.
Michel Moreno, Green Field’s Chairman and Chief Executive Officer, stated, “We are pleased to announce today that we have officially moved beyond the manufacturing phase and into operational mode. We have commenced hydraulic fracturing operations with Shell in the United States. Shell is utilizing Green Field’s unique and proprietary clean turbine pumping technology, which offers significant environmental and efficiency advantages over pumps powered by traditional diesel engines.”
Green Field’s turbine-driven pumps substantially reduce emissions by 87% when operating on #2 diesel fuel, and are engineered to operate on multiple fuel sources, including natural gas. The ability to perform pressure pumping services while running on natural gas, without sacrificing rates or efficiencies, is a primary focus of Green Field’s business model and competitive advantage.
Green Field’s agreement with Shell calls for the provision of two frac spreads with the option to add additional spreads.
About Green Field Energy Services
Green Field Energy Services, Inc. is an independent oilfield services company that provides a wide range of services to oil and natural gas drilling and production companies to help develop and enhance the production of hydrocarbons. The Company’s services include hydraulic fracturing, cementing, coiled tubing, pressure pumping, acidizing and other pumping services.
In December 2010, Green Field became the first company to provide hydraulic fracturing services utilizing turbine-powered pumping equipment. The Company believes that its technology provides several advantages over the diesel-powered pumping equipment generally utilized in the industry, including significantly lower emissions, a smaller operating footprint, lower manufacturing costs, lower operating costs and greater fuel flexibility, including the ability to operate on natural gas.
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CONTACTS: Green Field Energy Services, Inc. Rick Fontova 337-706-1720 DRG&L Ken Dennard / Ben Burnham 713-529-6600
SOURCE Green Field Energy Services, Inc.