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Bullboard - Stock Discussion Forum Nuvista Energy Ltd NUVSF


Primary Symbol: T.NVA

NuVista Energy Ltd. is an oil and natural gas company, which is engaged in the exploration for, and the development and production of, oil and natural gas reserves in the Western Canadian Sedimentary Basin. Its primary focus is on the scalable and repeatable condensate rich Montney formation in the Alberta Deep Basin (Wapiti Montney). Its core operating areas of Wapiti and Pipestone in the... see more

TSX:NVA - Post Discussion

Nuvista Energy Ltd > ProFrac Secures Legal Win in Halliburton Patent Battle Over
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Post by Carjack on Aug 28, 2023 10:47am

ProFrac Secures Legal Win in Halliburton Patent Battle Over

(Reuters) — Halliburton failed to convince a U.S. federal jury on Thursday that a unit of rival oilfield services company ProFrac infringed its electric-fracking patents.

The jury in Waco, Texas, agreed with ProFrac's U.S. Well Services that the company's "Clean Fleet" technology did not work in the same way as Halliburton's patented technology for electric fracking, or "e-frac," which has a smaller carbon footprint than traditional fracking.

The jury also determined that two of the three Halliburton patents at issue were invalid.

Halliburton attorney Roger Fulghum said that the company was disappointed with the verdict and considering its appeal options.

U.S. Well Services attorney Tom Melsheimer said the jury recognized that the company "did things our way and didn't need any Halliburton technology."

E-frac uses electricity from natural gas or power grids to drive pumps instead of diesel fuel. Oil and gas companies have been adopting the technology in efforts to reduce the carbon emissions created by fracking.

Halliburton countersued U.S. Well Services in response to a patent lawsuit that it brought in 2021 over Halliburton's e-frac fleet. U.S. Well Services' patents from that case have since been declared invalid by the Waco court and a U.S. Patent Office tribunal.

Halliburton has also filed two other e-frac patent lawsuits against U.S. Well Services in Waco that are scheduled for trial next year.

ProFrac, a Willow Park, Texas-based oilfield services company backed by billionaires Dan and Farris Wilks, bought Houston-based U.S. Well Services last year.

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