{"id":383703,"date":"2020-11-18T06:33:12","date_gmt":"2020-11-18T11:33:12","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=383703"},"modified":"2020-11-18T06:33:12","modified_gmt":"2020-11-18T11:33:12","slug":"nextier-and-national-oilwell-varco-announce-agreement-to-partner-on-field-test-of-electric-frac-system","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/nextier-and-national-oilwell-varco-announce-agreement-to-partner-on-field-test-of-electric-frac-system\/","title":{"rendered":"NexTier and National Oilwell Varco Announce Agreement to Partner on Field Test of Electric Frac System"},"content":{"rendered":"<p>        <!--body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p><b>NexTier and National Oilwell Varco Announce Agreement to Partner on Field Test of Electric Frac System<\/b><\/p>\n<p>HOUSTON&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nNexTier Oilfield Solutions Inc. (NYSE: NEX) (\u201cNexTier\u201d) and National Oilwell Varco, Inc. (NYSE: NOV) (\u201cNOV\u201d) today announced that the two companies recently entered into an agreement to collaboratively field test NOV\u2019s electric fracturing system known as the Ideal\u2122 eFrac fleet.\n<\/p>\n<p id=\"news-body-cta\">This press release features multimedia. View the full release here: <a href=\"https:\/\/www.businesswire.com\/news\/home\/20201118005378\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20201118005378\/en\/<\/a><\/p>\n<p>\nThe Ideal eFrac fleet provides efficient, environmentally conscious hydraulic fracturing capabilities that dramatically reduce emissions, equipment, and complexity at the well site.\n<\/p>\n<p>\nUnder the terms of the agreement, NexTier and NOV will collaborate to test the operational capability of the Ideal eFrac prototype in the field and under normal operating conditions. The agreement provides NexTier the option to transform from the test phase to the future purchase of the first Ideal eFrac fleet manufactured by NOV.\n<\/p>\n<p>\n\u201cNexTier is excited to partner with a company the caliber of NOV as we explore potential additional wellsite emissions reducing technologies to complement our market leading dual fuel gas powered fleet,\u201d said Robert Drummond, President and Chief Executive Officer of NexTier. \u201cThis partnership to test NOV\u2019s advanced eFrac technology progresses our journey of identifying the best solutions for NexTier and its customers, and evidences our commitment to further reducing our carbon footprint. By aligning with a quality partner like NOV and its Ideal technology, we have the ability to significantly lower the risk associated with next generation eFrac adoption and its deployment. We are proud of our progress and commitment to provide innovative solutions for the benefit of customers, employees, communities and investors.\u201d\n<\/p>\n<p>\n\u201cWe appreciate the opportunity to advance our Ideal e-Frac technology with the help of the team at NexTier, a leading provider of completions services to the oil and gas industry,\u201d said Clay Williams, President and Chief Executive Officer of NOV. \u201cNexTier is helping make completions technologies cleaner, quieter, and more efficient, which are solutions that oil and gas producers increasingly prefer. Utilizing abundant natural gas to generate electricity, and applying NOV\u2019s technology to drive clean, quiet operations, further strengthens NexTier\u2019s position as an industry leader.\u201d\n<\/p>\n<p><b>About NexTier Oilfield Solutions<\/b><\/p>\n<p>\nHeadquartered in Houston, Texas, NexTier is an industry-leading U.S. land oilfield service company, with a diverse set of well completion and production services across the most active and demanding basins. Our integrated solutions approach delivers efficiency today, and our ongoing commitment to innovation helps our customers better address what is coming next. NexTier is differentiated through four points of distinction, including safety performance, efficiency, partnership and innovation. At NexTier, we believe in living our core values from the basin to the boardroom, and helping customers win by safely unlocking affordable, reliable and plentiful sources of energy.\n<\/p>\n<p><b>About NOV<\/b><\/p>\n<p>\nNOV is a leading provider of technology, equipment, and services to the global oil and gas industry that supports customers\u2019 full-field drilling, completion, and production needs. Since 1862, NOV has pioneered innovations that improve the cost-effectiveness, efficiency, safety, and environmental impact of oil and gas operations. NOV powers the industry that powers the world. Visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.nov.com&amp;esheet=52330333&amp;newsitemid=20201118005378&amp;lan=en-US&amp;anchor=www.nov.com&amp;index=1&amp;md5=e7c8f8cb3131f648e15807d780e7b6b5\">www.nov.com<\/a> for more information. Information on the Company\u2019s website is not part of this release.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20201118005378r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20201118005378\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20201118005378\/en\/<\/a><\/span><\/p>\n<p><b>NexTier Investor Contact:<br \/>\n<\/b><br \/>Kenneth Pucheu<br \/>\n<br \/>Executive Vice President &#8211; Chief Financial Officer<br \/>\n<br \/>(713) 325-6000\n<\/p>\n<p><b>NOV Investor Contact:<br \/>\n<\/b><br \/>Blake McCarthy<br \/>\n<br \/>(713) 815-3535\n<\/p>\n<p><b>KEYWORDS:<\/b> Texas United States North America<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Energy Other Manufacturing Manufacturing Oil\/Gas<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20201118005378\/en\/439717\/3\/NOV_Logo_RGB_F.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20201118005378\/en\/839815\/3\/NexTier_Logo_RGB_Primary.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>NexTier and National Oilwell Varco Announce Agreement to Partner on Field Test of Electric Frac System HOUSTON&#8211;(BUSINESS WIRE)&#8211; NexTier Oilfield Solutions Inc. (NYSE: NEX) (\u201cNexTier\u201d) and National Oilwell Varco, Inc. (NYSE: NOV) (\u201cNOV\u201d) today announced that the two companies recently entered into an agreement to collaboratively field test NOV\u2019s electric fracturing system known as the Ideal\u2122 eFrac fleet. This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20201118005378\/en\/ The Ideal eFrac fleet provides efficient, environmentally conscious hydraulic fracturing capabilities that dramatically reduce emissions, equipment, and complexity at the well site. Under the terms of the agreement, NexTier and NOV will collaborate to test the operational capability of the Ideal eFrac prototype in the field and under normal operating conditions. &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/nextier-and-national-oilwell-varco-announce-agreement-to-partner-on-field-test-of-electric-frac-system\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;NexTier and National Oilwell Varco Announce Agreement to Partner on Field Test of Electric Frac System&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-383703","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>NexTier and National Oilwell Varco Announce Agreement to Partner on Field Test of Electric Frac System - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/nextier-and-national-oilwell-varco-announce-agreement-to-partner-on-field-test-of-electric-frac-system\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NexTier and National Oilwell Varco Announce Agreement to Partner on Field Test of Electric Frac System - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"NexTier and National Oilwell Varco Announce Agreement to Partner on Field Test of Electric Frac System HOUSTON&#8211;(BUSINESS WIRE)&#8211; NexTier Oilfield Solutions Inc. (NYSE: NEX) (\u201cNexTier\u201d) and National Oilwell Varco, Inc. (NYSE: NOV) (\u201cNOV\u201d) today announced that the two companies recently entered into an agreement to collaboratively field test NOV\u2019s electric fracturing system known as the Ideal\u2122 eFrac fleet. This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20201118005378\/en\/ The Ideal eFrac fleet provides efficient, environmentally conscious hydraulic fracturing capabilities that dramatically reduce emissions, equipment, and complexity at the well site. Under the terms of the agreement, NexTier and NOV will collaborate to test the operational capability of the Ideal eFrac prototype in the field and under normal operating conditions. &hellip; Continue reading &quot;NexTier and National Oilwell Varco Announce Agreement to Partner on Field Test of Electric Frac System&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/nextier-and-national-oilwell-varco-announce-agreement-to-partner-on-field-test-of-electric-frac-system\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-18T11:33:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20201118005378r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/nextier-and-national-oilwell-varco-announce-agreement-to-partner-on-field-test-of-electric-frac-system\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/nextier-and-national-oilwell-varco-announce-agreement-to-partner-on-field-test-of-electric-frac-system\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"NexTier and National Oilwell Varco Announce Agreement to Partner on Field Test of Electric Frac System\",\"datePublished\":\"2020-11-18T11:33:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/nextier-and-national-oilwell-varco-announce-agreement-to-partner-on-field-test-of-electric-frac-system\\\/\"},\"wordCount\":605,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/nextier-and-national-oilwell-varco-announce-agreement-to-partner-on-field-test-of-electric-frac-system\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&amp;sty=20201118005378r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/nextier-and-national-oilwell-varco-announce-agreement-to-partner-on-field-test-of-electric-frac-system\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/nextier-and-national-oilwell-varco-announce-agreement-to-partner-on-field-test-of-electric-frac-system\\\/\",\"name\":\"NexTier and National Oilwell Varco Announce Agreement to Partner on Field Test of Electric Frac System - 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(NYSE: NEX) (\u201cNexTier\u201d) and National Oilwell Varco, Inc. (NYSE: NOV) (\u201cNOV\u201d) today announced that the two companies recently entered into an agreement to collaboratively field test NOV\u2019s electric fracturing system known as the Ideal\u2122 eFrac fleet. This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20201118005378\/en\/ The Ideal eFrac fleet provides efficient, environmentally conscious hydraulic fracturing capabilities that dramatically reduce emissions, equipment, and complexity at the well site. Under the terms of the agreement, NexTier and NOV will collaborate to test the operational capability of the Ideal eFrac prototype in the field and under normal operating conditions. &hellip; Continue reading \"NexTier and National Oilwell Varco Announce Agreement to Partner on Field Test of Electric Frac System\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/nextier-and-national-oilwell-varco-announce-agreement-to-partner-on-field-test-of-electric-frac-system\/","og_site_name":"Market Newsdesk","article_published_time":"2020-11-18T11:33:12+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20201118005378r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/nextier-and-national-oilwell-varco-announce-agreement-to-partner-on-field-test-of-electric-frac-system\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/nextier-and-national-oilwell-varco-announce-agreement-to-partner-on-field-test-of-electric-frac-system\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"NexTier and National Oilwell Varco Announce Agreement to Partner on Field Test of Electric Frac System","datePublished":"2020-11-18T11:33:12+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/nextier-and-national-oilwell-varco-announce-agreement-to-partner-on-field-test-of-electric-frac-system\/"},"wordCount":605,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/nextier-and-national-oilwell-varco-announce-agreement-to-partner-on-field-test-of-electric-frac-system\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20201118005378r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/nextier-and-national-oilwell-varco-announce-agreement-to-partner-on-field-test-of-electric-frac-system\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/nextier-and-national-oilwell-varco-announce-agreement-to-partner-on-field-test-of-electric-frac-system\/","name":"NexTier and National Oilwell Varco Announce Agreement to Partner on Field Test of Electric Frac System - 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