Liberty Oilfield Services Inc. (LBRT) and Schlumberger (SLB) reached an agreement for the contribution of Schlumberger's onshore hydraulic fracturing business in the United States and Canada, or OneStim, to Liberty in exchange for a 37% equity interest in the combined company. The deal includes pressure pumping, pumpdown perforating, and Permian frac sand businesses.

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Liberty Oilfield Services Inc. (LBRT) and Schlumberger (SLB) reached an agreement for the contribution of Schlumberger's onshore hydraulic fracturing business in the United States and Canada, or OneStim, to Liberty in exchange for a 37% equity interest in the combined company. The deal includes pressure pumping, pumpdown perforating, and Permian frac sand businesses.

RTTNews | Sep 1, 2020 07:13AM EDT

07:13 Tuesday, September 1, 2020 (RTTNews.com) - Liberty Oilfield Services Inc. (LBRT) and Schlumberger (SLB) reached an agreement for the contribution of Schlumberger's onshore hydraulic fracturing business in the United States and Canada, or OneStim, to Liberty in exchange for a 37% equity interest in the combined company. The deal includes pressure pumping, pumpdown perforating, and Permian frac sand businesses.

Following the closing of the deal, Liberty will offer its suites of completion services and technologies to operators in onshore North America. The company will continue to be led by its current management team.

Read the original article on RTTNews ( https://www.rttnews.com/3125275/schlumberger-to-combine-its-onestim-business-with-liberty-quick-facts.aspx)

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