Despite facing a challenging market, we are proud to have delivered a sequential 13% increase in revenue to $535 million and adjusted EBITDA increase of 18% to $85 million and a net income before income taxes increase of 27% to $41 million after adjusting for gain loss on disposal of assets. – Chris Wright
There is a lot of things to like about dual fuel. Number one on that is natural gas is cheaper than diesel, right? So, when you’ve got availability to natural gas, it’s a cheaper way to run a frac operation. Definitely, it’s got lower emissions, and again, not just in CO2 emissions, but SOx and NOx and particulate emissions. So, look, in a perfect world, look at United States electricity grid, right? We don’t use oil to make any electricity, and natural gas is our biggest source. So natural gas is a preferred fuel. Close to half of our fleets or pumps are dual fuel, so we’re not running at that level today because to do that, you’ve got to have gas in the field, right, so probably only half of our dual fuel fleets are actually running with that capability, but certainly, we hope to see, we expect to see and we work with our customers to see an increasing consumption of natural gas to power like to power frac fleets. – Chris Wright