Liberty Frac is going to get a whole lot bigger

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Liberty Oilfield Services Inc. and Schlumberger announced an agreement for the sale of Schlumberger’s onshore hydraulic fracturing business in the United States and Canada, including its pressure pumping, pump-down perforating, and Permian frac sand businesses to Liberty Frac, in exchange for a 37% equity interest in the new combined company.

 

The joint company will make Liberty Frac the #2 biggest frac company in the United States after Haliburton.