Liberty Announces Completion of Sanjel Asset Acquisition

DENVER, June 14, 2016/PRNewswire/ -- Liberty Oilfield Services ("Liberty"), a privately-held pressure pumping company, is pleased to announce that it has completed the previously announced acquisition of Sanjel Corporation's U.S. assets. With the closing of the transaction, Liberty has doubled its hydraulic fracturing capacity to almost 500,000 hhp, and has expanded its operating presence to cover the Permian and Eagle Ford basins in addition to its current operations in the Williston, Powder River and DJ basins. In order to maintain a strong focus on hydraulic fracturing technology and services, Liberty has entered into subsequent arrangements with O-Tex Pumping for control and operation of the cementing assets and Patriot Well Solutions for control and operation of the coiled tubing assets.

Liberty's investors' equity funded the Sanjel purchase and committed nearly $100Mof additional equity for future growth opportunities. Future growth will be driven by increased customer activity and expansion into new basins.

About Liberty

Liberty Oilfield Services was founded in 2011 with a relentless focus on improving tight-oil completions. Liberty has a unique culture that has resulted in differential performance for our customers, far better safety performance and far lower employee turnover than industry averages. Liberty has a heavy focus on customer partnerships and technology to find innovative answers to frac optimization for each area of each basin. Liberty's frac innovations in the Bakken, often called the Liberty "Signature" design, changed the way most wells are completed today in North Dakota. The company is committed to working with our new clients in the Permian and Eagle Ford basins on frac optimization. Liberty is a privately held company with headquarters in Denver, Colorado.

Logo - http://photos.prnewswire.com/prnh/20160614/379368LOGO

SOURCE Liberty Oilfield Services

Related Links

http://www.libertyfrac.com