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Liberty Sees Slowly Improving Fracture Market, E&Ps More ‘Comfortable’ with OFS Price Hikes
Denver-based Liberty Oilfield Services Inc. is reporting a “slowly improving market” in the Lower 48 for pressure pumping services, with customer conversations becoming more constructive, CEO Chris Wright said Wednesday.
Speaking during the 1Q2021 conference call, Wright noted that the oilfield services (OFS) operator has doubled the size of its platform since the start of the year. It is now a “fully integrated completions services, engineering and diagnostics company,” and one of the leading OFS operators in the Lower 48. The growth followed the takeover of Schlumberger Ltd.’s OneStim hydraulic fracturing business, which services the Lower 48.
The True Face of the North Face
On 3/16/21 at 6:03 PM EDT
It started with a nice gesture. Adam Anderson, the CEO of Innovex Downhole Solutions, wanted to buy his employees a Christmas gift. So he ordered 400 North Face jackets and asked that their corporate logo be included.
Then came the bad news. The North Face company would sell Innovex the jackets but wouldn t include the energy company s logo. The reason? Innovex was an oil and gas company, and it would be a bad thing for North Face s public image to associate itself with the industry.
Not happy with that answer, Anderson struck back with some public relations of his own. It turns out the vast majority of North Face s apparel its hoodies, snow pants, coats and many other items in its product line, like backpacks and tents are made with polyester, polyurethane and nylon, all of which come from petroleum. Even its fancy fleece jackets are made of polyester.
The Denver-based Liberty Oilfield Services Inc. management team sees “early signs” that an economic recovery is underway, but customers still are wary of