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ProPetro Holding Corp. ("ProPetro") (NYSE: PUMP), a Midland, Texas based hydraulic fracturing service company, today announced a new partnership with Fluid Energy Group Ltd.® ("Fluid") and Solnexus Chemical LLC ("Solnexus") to become one of the largest distributors of the Enviro-Syn® Modified Acid™ and Synthetic Acid™ product line in the West Texas and Permian Basin region. Fluid’s proprietary product line will expand ProPetro and Solnexus’ chemical service offering to provide safer, more sustainable, eco-friendly and technologically advanced chemical systems to their customers in the area.
"ProPetro is committed to identifying new technologies in hydraulic fracturing that reduce overall environmental impact and allow us to produce hydrocarbons in the safest and most efficient manner possible," said Phillip Gobe, Chief Executive Officer of ProPetro. "We identified Fluid’s Modified Acid™ technology, which helps reduce the environmental impact associated with one of the most hazardous chemicals used in hydraulic fracturing operations, hydrochloric acid. We are proud to partner with both Fluid and Solnexus to push this innovative and sustainable product into our supply chain. This partnership is consistent with our corporate objectives including environmental, social and governance (ESG) goals. The ability to deliver ESG-friendly alternatives to our customers is a value-added opportunity which benefits all stakeholders."
Hydrochloric acid (HCl) is commonly used in hydraulic fracturing operations to decrease pumping pressures so that injection fluids can be pumped at sufficiently high rates to initiate fractures within the formation. However, HCl is extremely hazardous if not handled properly.
Due to the low-corrosive nature and easier handling properties of Fluid’s Modified Acid™ and Synthetic Acid™ systems, these products can be delivered and utilized far more efficiently than traditional HCl by:
Delivering concentrated material and diluting onsite, reducing truck traffic deliveries by up to 66%
Speeding up stage completion times, resulting in reduced idle horsepower time and decreasing diesel consumption
Reducing water volume requirements for stage completions, saving up to 1.5MM gallons of water per well
"Fluid’s patented or patent-pending Modified Acid™ and Synthetic Acid™ portfolio offers options that are non-corrosive to dermal tissue, eco-friendly, biodegradable and demonstrate low toxicity compared to HCl, as well as being non-regulated for ground transportation in the United States," explained Clay Purdy, CEO of Fluid. "We are very pleased to partner with ProPetro on this important initiative."
ProPetro Holding Corp. is a Midland, Texas-based oilfield services company providing pressure pumping and other complementary services to leading upstream oil and gas companies engaged in the exploration and production of North American unconventional oil and natural gas resources. For more information, please visit www.propetroservices.com.
About Fluid Energy Group Ltd.
Fluid Energy Group Ltd.®, along with its subsidiaries, branches and brands Fluid Norge™, Fluid USA™ Inc., Fluid Holland™, Fluid Luxembourg™, SixRing™ Inc. and SciencePak™ Inc. and Triton Cleaning Products™, is a global chemical company specializing in the development and manufacture of eco-friendly, low-hazard, technically advanced chemical systems. We service several industries including Energy & Petroleum, HI&I, Food & Beverage, Life Sciences, Marine & Transportation, Water Treatment, and Construction & Coatings. With over 130,000 sq. ft. of Canadian R&D, manufacturing and packaging, and international third-party production and packaging sites across four continents, we are well positioned to service your chemical needs. www.fluidenergygroup.com.
About Solnexus Chemical, LLC
Solnexus Chemical, LLC is a subsidiary of Agri-Empresa, LLC based in Midland, Texas. Since its founding in 2014, Solnexus has quickly grown into one of the largest independent providers of a full spectrum of custom-formulated completion, production and water treatment chemicals used in the Permian Basin. Solnexus has built and maintained this position by leveraging its unique rail, blending and storage capabilities to source and store raw materials at the lowest possible cost before blending to customer specifications for quick delivery to the field. Solnexus has the ability to design, test and validate these formulations using its state-of-the-art laboratory and large staff of in-house technicians. For more information, please visit www.solnexuschemical.com.
Except for historical information contained herein, the statements in this news release are forward-looking statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the future performance of newly improved technology such as Modified Acid™ and Synthetic Acid™. Forward-looking statements are subject to a number of risks and uncertainties that may cause actual events and results to differ materially from the forward-looking statements. Such risks and uncertainties include the operational disruption and market volatility resulting from the COVID-19 pandemic and other factors described in ProPetro’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, particularly the "Risk Factors" sections of such filings, and other filings with the Securities and Exchange Commission. In addition, ProPetro may be subject to currently unforeseen risks that may have a materially adverse impact on it. Accordingly, no assurances can be given that the actual events and results will not be materially different than the anticipated results described in the forward-looking statements. The forward-looking statements in this news release are made as of the date of this news release. ProPetro does not undertake, and expressly disclaims, any duty to publicly update these statements, whether as a result of new information, new developments or otherwise, except to the extent that disclosure is required by law.
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ProPetro Holding Corp
Investors - Sam Sledge, 432-688-0012
Chief Strategy and Administrative Officer
Sales – Shelby Fietz, 432-631-5567
Vice President of Business Development, Sales and Marketing
Fluid Energy Group
Joe Michetti, 936-524-2876
Solnexus Chemical, LLC
Chris Howard, 432-694-1994
Senior Vice President