Liberty Acquires Schlumberger's OneStim Hydraulic Fracturing Business

Updated 8 months 1 week ago

Liberty Oilfield Services and Schlumberger agreed in September 2020 to contribute Schlumberger's onshore hydraulic fracturing business in the U.S. and Canada (OneStim), including its pressure pumping, pump-down perforating, and Permian frac sand businesses, to Liberty for a 37% equity interest in the combined company. The deal closed in January 2021. Liberty will continue with its current management team. Schlumberger also added two directors to Liberty's board.

Schlumberger CEO

This partnership provides an ideal home for our OneStim business and its employees and is in line with our capital stewardship strategy while benefiting from future market upside through our equity stake.

Liberty Chairman & CEO

Our expanded technology portfolio and breadth of operations will enable Liberty to further raise our already high bar for safe, innovative, efficient, and ESG-conscious frac operations.