Diamondback Energy, Halliburton, and VoltaGrid Sign Agreement for Four Electric Simul-Frac Fleets in the Permian Basin
December 13 2024 - 10:32AM
Diamondback Energy (NYSE: FANG), Halliburton Energy Services (NYSE:
HAL), and VoltaGrid LLC have entered into a landmark agreement to
deploy four advanced electric simul-frac fleets across the Permian
Basin. This collaboration represents a significant investment in
clean and efficient energy solutions, with VoltaGrid delivering
approximately 200 megawatts (MW) of electric power to support
Diamondback Energy’s field operations. This marks a continuation of
a longstanding partnership focused on sustainability and
operational excellence.
The electric simul-frac fleets will integrate Halliburton’s
ZEUS™ 6,000-horsepower (HHP) all-electric fracturing technology
with VoltaGrid’s advanced power generation systems, creating a
high-performance, low-carbon solution tailored to the demands of
the Permian Basin. The ZEUS platform comprises electric pumping
units, Octiv® Auto Frac service, and Sensori™ fracture monitoring
service.
Under the agreement, VoltaGrid will deploy its next-generation,
high-capacity simul-frac generators and expand its compressed
natural gas (CNG) infrastructure at Diamondback Energy’s microgrid
facility. This will ensure a reliable natural gas feedstock supply,
particularly when pipeline gas is unavailable. This infrastructure
expansion underscores a shared commitment to enhancing operational
reliability while minimizing emissions.
“This collaboration reinforces our commitment to driving
efficiency and sustainability in oil and gas operations,” said
Danny Wesson, Executive Vice President and Chief Operating Officer
at Diamondback Energy. “The integration of Halliburton’s innovative
electric fracturing technology and VoltaGrid’s cutting-edge power
systems allows us to achieve superior performance while
significantly reducing our environmental impact.”
“Halliburton’s ZEUS electric fracturing platform, combined with
VoltaGrid’s flexible and reliable power infrastructure, sets a new
benchmark for efficiency and environmental responsibility,” said
Casey Maxwell, Senior Vice President of North America Land at
Halliburton. “Our ZEUS platform combines electric automation and
insights to maximize asset value for our customers. This offering
is a step-change in fracture execution.”
“We are proud to deepen our collaboration with Diamondback
Energy and Halliburton, expanding the adoption of electric frac
technology in the Permian Basin,” said Nathan Ough, CEO of
VoltaGrid. “Our expanded infrastructure and advanced power systems
provide the reliability and performance required to support the
most demanding completion designs while driving meaningful
emissions reductions.”
About Diamondback EnergyDiamondback Energy is
an independent oil and natural gas company headquartered in
Midland, Texas, focused on the development of unconventional,
onshore oil and natural gas reserves in the Permian Basin. The
company is committed to leading operational efficiency and
environmental responsibility. Visit DiamondbackEnergy.com.
About HalliburtonHalliburton is one of the
world’s leading providers of products and services to the energy
industry. Founded in 1919, we create innovative technologies,
products, and services that help our customers maximize their value
throughout the lifecycle of an asset and advance a sustainable
energy future. Visit us at www.halliburton.com; connect with us on
LinkedIn, YouTube, Instagram, and Facebook.
About VoltaGrid LLCVoltaGrid is an advanced
energy management and generation company offering innovative
platforms to provide power, energy storage, and emissions reduction
solutions for industries including pressure pumping, data centers,
AI hyperscalers, mining, utilities, and distributed generation.
VoltaGrid’s AI-driven platform offers real-time emissions tracking,
asset carbon intensity monitoring, and ESG reporting. Visit
VoltaGrid.com.
For more information contact:
Nathan OughPresident & CEOVoltaGrid LLCC:
1-281-636-3074E: Nathan.Ough@VoltaGrid.com
Halliburton (NYSE:HAL)
Historical Stock Chart
From Nov 2024 to Dec 2024
Halliburton (NYSE:HAL)
Historical Stock Chart
From Dec 2023 to Dec 2024