BJ Services And Aethon Energy Enter Into Four-Year Contract For Next-Generation Natural Gas Fueled Fracturing Fleet
TOMBALL, Texas, March 11, 2020 /PRNewswire/ -- BJ Services (the "Company") announced today it has entered into a multi-year contract with Aethon Energy ("Aethon") for the deployment of the Company's first TITAN™ next-generation fracturing fleet in the Haynesville shale.
Powered by a direct drive natural gas-fueled turbine, the first TITAN prototype pump has completed more than 500 hours of field testing on Aethon Haynesville well locations this year. The first TITAN fleet will deploy in Q4 2020, which will launch the beginning of the Company's next-generation fleet strategy.
"The launch of the TITAN will allow us to make significant progress on our commitment to reducing carbon emissions, increasing operational efficiencies, and improving the economics for our clients," said Caleb Barclay, Chief Operating Officer of BJ Services. "We are proud to partner with a company that shares our vision surrounding continuous improvement and know that this next generation equipment will prove to be a step-change to the impact it will have on the environment, efficiency, and economics for Aethon's operation. Aethon's excellent leadership and operational track record speak to the quality of the work we expect to do together over the next four years."
The TITAN, fueled 100 percent by natural gas, provides up to 5,000 Horsepower while supporting the reduction of greenhouse gas emissions, reduced operating costs, improved mobility, and reliable operations. The next-generation pump also meets the most stringent noise reduction requirements across North America.
Aethon, a Dallas-based private investment firm and owner-operator of onshore oil & gas assets, is a leader in the industry for improving operating efficiencies and investing in ESG initiatives.
"The natural gas-powered TITAN fleet developed by BJ Services will deliver performance aligned with Aethon's cost and ESG goals," said Paul Sander, Chief Operating Officer & Partner. "Ultimately, larger pumps with fewer pumping units will reduce our footprint and result in structural cost savings for pumping services. We are excited to partner with BJ Services and are pleased with their willingness to provide innovative solutions in this next-generation technology."
About BJ Services
BJ Services is a leading provider of hydraulic fracturing and cementing services to upstream oil and gas companies engaged in the exploration and production of North American oil and natural gas resources. Based in Tomball, Texas, BJ operates in every major basin throughout the U.S. and Canada. For more information, please visit our website at www.bjservices.com, and follow us on Twitter, Facebook, and LinkedIn.
About Aethon Energy
Aethon Energy Management LLC is a Dallas-based private investment firm formed in 1990. Aethon has partnered with the Ontario Teachers' Pension Plan and RedBird Capital Partners to acquire onshore oil and gas assets in North America. For more information about Aethon, go to www.AethonEnergy.com.
Media Contact for BJ Services:
Michelle Gray
(281) 947-2637
[email protected]
Media Contact for Aethon Energy:
Macy Yates
[email protected]
SOURCE BJ Services
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