USWS Announces Financial Update and Organizational Changes
Houston, TX (February 3, 2017) – U.S. Well Services, LLC (USWS) is pleased to announce the completion of the consensual debt for equity exchange of the Company. The recapitalization significantly reduces the debt, provides new working capital and positions US Well Services to grow as the opportunities develop.
USWS also named Joel Broussard as CEO and Nathan Houston as COO. Mr. Broussard was a founding member of USWS and has been involved with the company since its inception in 2012. Mr. Houston has served in a variety of executive operational roles with USWS, joining with the inception of the company.
“USWS has a track record of being one of the best in our business. We know with the new capital structure and new owners, we are poised for great success”; stated Joel Broussard.
USWS provides high-pressure, hydraulic fracturing services in unconventional oil and natural gas basins. Both our conventional (diesel) and Clean Fleet® (electric) hydraulic fracturing fleets are among the most reliable and highest performing fleets in the industry, with the capability to meet the most demanding pressure and pump rate requirements in the industry.
We are currently operating in the Marcellus and Utica shale regions of Ohio, West Virginia, and Pennsylvania. USWS is also evaluating opportunities with existing and new customers to expand our operations throughout the United States.
For questions or further information contact:
Human Resources Director
U.S. Well Services, LLC
770 South Post Oak Ln, Suite 410
Houston, TX 77056
Office: (832) 562-3986