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home / news releases / USWS - Wilks brothers buy up 10% equity stake in U.S. Well Services

USWS - Wilks brothers buy up 10% equity stake in U.S. Well Services

U.S. Well Services Inc.
Billionaire brothers Dan and Farris Wilks have acquired a ~10% stake in U.S. Well Services (USWS), bringing their total holdings to $47.5M in the past month.According to an SEC filing, the Wilks brothers bought $25M of notes convertible into common shares in late June, worth ~25.7M shares, and their ProFrac pressure pumping firm separately invested $22.5M in U.S. Well as part of a licensing agreement that allows them to build and operate electric frac fleets.Dan Wilks bought shares in oilfield services companies ProPetro and NexTier Oilfield Solutions amid the oil downturn, and the brothers have been engaged in court battles seeking to take over Calfrac Well Services.

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Wilks brothers buy up 10% equity stake in U.S. Well Services
Stock Information
Company Name: U.S. Well Services Inc.
Stock Symbol: USWS
Market: NASDAQ
Website: uswellservices.com
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