HOUSTON, Aug. 17,
2023 /PRNewswire/ -- Surge Energy US Holdings Company
("Surge" or the "Company") announces jointly with NexTier Oilfield
Solutions ("NexTier") record-breaking completion efficiency in the
second quarter as well as emissions reductions.
Surge has utilized a NexTier completion crew as the Company's
dedicated crew since the fourth quarter of 2022. In the
second quarter of 2023, the NexTier crew set a Surge quarterly
company record for the highest completed lateral feet per day at
2,733. For the year the Company has achieved over 2,650
lateral feet per day average. This efficiency results in
reduced cycle times that accelerate wells online as well as
substantial cost savings.
"Surge has a culture that places high standards on safety,
excellence, and teamwork which we also expect from our service
providers," stated Kade McCollough,
Surge's Manager of Production and Completions Engineering. "NexTier
has embraced this culture which is evident through this efficiency
record. We look forward to continued success through this
relationship with NexTier in the future."
NexTier's strategy of providing industry-leading natural
gas-powered frac fleets enables lower cost of fueling and lower
emissions through significantly reduced diesel usage and subsequent
emissions. This, along with Surge's extensive use of recycled
produced water for completions operations which started in 2017 and
recently surpassed 5 billion gallons of fresh water conserved is a
testament to Surge's dedication to our ESG principles and
goals.
"Our commitment to choosing the right partner with the right
equipment and our continued focus on preserving fresh water and
reducing emissions is something we are very proud of here at
Surge," stated Chris Alonzo, Senior
Vice President, Development and Operations.
Robert Drummond, President and
Chief Executive Officer of NexTier, affirmed, "We are immensely
proud to be Surge Energy's provider of choice, and this
record-breaking accomplishment serves as a testament to our joint
commitment of elevating completions efficiency while also reducing
emissions. As NexTier, we are driven by the mutually aligned goals
of innovation and sustainability, and we eagerly anticipate our
continued collaboration with Surge Energy in advancing industry
boundaries."
About NexTier Oilfield Solutions
Headquartered 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 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.
About Surge Energy
Surge Energy is an independent oil and natural gas company
focused on the development, exploitation, production, and
acquisition of oil and natural gas reserves in the Midland Basin of
West Texas, one of three primary
sub-basins of the Permian Basin. The Company is headquartered
in Houston, Texas, and currently
holds approximately 161,000 net acres in the Permian Basin as of
year-end 2022. For more information, visit our website at
www.SurgeEnergyA.com.
Contact Information
For Surge:
Travis Guidry
Vice President of Corporate Development & Investor
Relations
Email: TGuidry@surgeenergya.com
Phone: 832-333-2339
Investor Relations
Email: InvestorRelations@surgeenergya.com
Phone: 832-333-2400
For NexTier:
Mike Sabella
Vice President – Investor Relations
Email: Michael.Sabella@NexTierOFS.com
Phone: (713) 325-6000
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SOURCE NexTier Oilfield Solutions