Diamondback Energy, Halliburton, and VoltaGrid Sign Agreement for Four Electric Simul-Frac Fleets in the Permian Basin
HOUSTON, Dec. 13, 2024 (GLOBE NEWSWIRE) -- 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 Energy
Diamondback 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 Halliburton
Halliburton 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 LLC
VoltaGrid 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 Ough
President & CEO
VoltaGrid LLC
C: 1-281-636-3074
E: [email protected]
