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C&J Energy provides update on its hydraulic fracturing fleets

C&J Energy Services reported that all six of its contracted hydraulic fracturing fleets are being fully utilized, including the first phase of its newly built Fleet 6. The first 16,000 horsepower of Fleet 6 has been continuously utilized for vertical completions since its December delivery and deployment in the Permian Basin, with the remaining 22,000 horsepower being deployed in the Permian Basin for horizontal completions within the next two weeks. With the re-deployment of a fleet from the Haynesville Shale to the Eagle Ford Shale basin under contractual provisions, 100% of its hydraulic fracturing equipment is currently operating in oil and liquids rich basins. C&J continues to anticipate that Fleets 7 and 8 will be delivered on schedule, with Fleet 7 expected by the beginning of the second quarter and Fleet 8 during Q3. C&J believes that its growing reputation for providing superior operating performance in the most complex plays will continue to serve as a competitive advantage in such plays.