Liberty Oilfield Services to Combine with Schlumberger's OneStim
01 September 2020 - 1:36PM
Dow Jones News
By Dave Sebastian
Liberty Oilfield Services Inc. is combining with OneStim,
Schlumberger Ltd.'s pressure-pumping business in North America, a
transaction in which Schlumberger will get 37% of the combined
entity's equity.
The deal is expected to close in the fourth quarter, the
companies said Tuesday. Liberty's current management team will
continue leading the company.
The companies said the combined entity has 2019 pro-forma
revenue of $5.2 billion and pro-forma market capitalization of $1.2
billion.
Schlumberger shares rose 1.3% in premarket trading, while
Liberty shares were flat.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
September 01, 2020 07:21 ET (11:21 GMT)
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