HOUSTON, April 15, 2021 /PRNewswire/ -- U.S. Well
Services, Inc. (Nasdaq: USWS) today announced it has filed suit in
the United States District Court
for the Western District of Texas
- Waco Division for patent infringement against Halliburton Company
(NYSE: HAL) and Cimarex Energy Co. (NYSE: XEC). The
original complaint alleges infringement of multiple U.S. Well
Services patents. The alleged infringements are related to
U.S. Well Services patents covering "Systems for Pumping Hydraulic
Fracturing Fluid using Electric Pumps", "Electric Powered Pump
Down", "Systems for Centralized Monitoring and Control of Electric
Powered Hydraulic Fracturing Fleet" as well as 4 other related
patents. U.S. Well Services currently has a portfolio of 42
patents granted, 4 patents allowed, and 185 patents pending.
Joel Broussard, U.S. Well
Services' President and Chief Executive Officer commented, "The
intellectual property covered by these and all of our patents are
what separates us from others in the Hydraulic Fracturing
market. The defense of our intellectual property is
paramount, and we have and always will take whatever measures are
necessary to protect it."
U.S. Well Services, Inc. is being represented by Jay Yates of Patterson + Sheridan LLP in
Houston, Texas.
About U.S. Well Services, Inc.
U.S. Well Services, Inc. is a leading provider of hydraulic
fracturing services and a market leader in electric fracture
stimulation. The Company's patented electric frac technology
provides one of the first fully electric, mobile well stimulation
systems powered by locally supplied natural gas, including field
gas sourced directly from the wellhead. The Company's electric frac
technology dramatically decreases emissions and sound pollution
while generating exceptional operational efficiencies, including
significant customer fuel cost savings versus conventional diesel
fleets. For more information visit: www.uswellservices.com.
Information on our website is not part of this release.
Forward-Looking Statements
The information above includes "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. All statements, other than statements of historical facts,
included herein concerning, among other things, the filing of the
lawsuit and any resulting benefits, are forward-looking statements.
These forward-looking statements may be identified by their use of
terms and phrases such as "may," "expect," "believe," "anticipate,"
"will," "should," "could," and similar terms and phrases. Although
the Company believes that the expectations reflected in these
forward-looking statements are reasonable, they do involve certain
assumptions, risks, and uncertainties. These forward-looking
statements represent the Company's current expectations or beliefs
concerning future events, and it is possible that the results
described in this release will not be achieved. These
forward-looking statements are subject to certain risks,
uncertainties and assumptions identified in this release or as
disclosed from time to time in the Company's filings with the
Securities and Exchange Commission (the "SEC"). Factors that could
cause actual results to differ from the Company's expectations
include the factors described in the Company's public disclosures
and filings with the SEC, including those described under "Risk
Factors" in its annual report on Form 10-K filed on March 11, 2021 and in our quarterly reports on
Form 10-Q. As a result of these factors, actual results may differ
materially from those indicated or implied by forward-looking
statements.
Any forward-looking statement speaks only as of the date on
which it is made, and, except as required by law, the Company does
not undertake any obligation to update or revise any
forward-looking statement, whether because of new information,
future events or otherwise. New factors emerge from time to time,
and it is not possible for us to predict all such factors.
Contacts:
U.S. Well Services
Josh Shapiro
Vice President, Finance and Investor Relations
(832) 562-3730
IR@uswellservices.com
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SOURCE U.S. Well Services, Inc.