Welcome to our dedicated page for Liberty Energy news (Ticker: LBRT), a resource for investors and traders seeking the latest updates and insights on Liberty Energy stock.
Liberty Energy Inc. reports news on energy services, completions technology and distributed power activity for oil and natural gas customers. The company provides hydraulic fracturing services and related offerings, including wireline services, proppant delivery, field gas processing and treating, CNG delivery, data analytics, sand mine operations and technologies for lower-emission completions across the United States and Canada.
Recurring updates cover quarterly financial and operational results, frac market conditions, fleet utilization, pricing trends, technology deployments such as digiPrime natural-gas pumping systems, and Liberty Power Innovations and LAET power-generation capabilities. Company news also includes capital-structure actions, convertible senior note financing, shareholder distributions, governance matters and material commercial agreements tied to its service and power businesses.
Liberty Oilfield Services (NYSE: LBRT) and Schlumberger (NYSE: SLB) have completed the transfer of Schlumberger’s onshore hydraulic fracturing business, OneStim®, to Liberty as of December 31, 2020. This strategic move grants Liberty a 37% equity interest in the company, enhancing its position in North America’s completion services market. The deal aims to foster innovation and sustainability in energy production. Additionally, Liberty has appointed two Schlumberger executives to its board, emphasizing a focus on technology collaboration.
Liberty Oilfield Services reported a 67% revenue increase in Q3 2020, reaching $147 million, from Q2's $88 million. The company faced a net loss of $49 million or $0.41 loss per share, but saw an Adjusted EBITDA of $(3) million. Liberty aims for over 20% growth in average active frac fleets in Q4 2020 and plans to acquire OneStim®, enhancing its service capacity. Total liquidity is $154 million, with no ABL borrowings. The CEO expressed optimism for the future, highlighting technological strengths and opportunities arising from the acquisition.
Liberty Oilfield Services Inc. (LBRT) will release its third-quarter 2020 financial results on October 27, 2020, after market closure. A conference call to discuss the results will take place on October 28, 2020, at 8:00 AM MT. The call will feature Chris Wright, CEO, Ron Gusek, President, and Michael Stock, CFO. Participants can join by dialing (833) 255-2827 for U.S. callers or (412) 902-6704 for international attendees. A live webcast will also be available at their investor relations site.