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LBRT Stock Price News: 13.17% Hike

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Liberty Oilfield Services Inc. (NYSE: LBRT)’s stock price increased by 1.42(13.17%) over the last closing price of 10.78. The price currently stands at 12.20(as of April 28).  The opening price as of April 28 was 10.75. The volume was 1,550,413 and the range was 10.73 – 12.32.  The current price as of 10:40AM EDT, April 29 stands at 12.29.

Liberty Oilfield Services Inc. (NYSE: LBRT) is a leading North American oilfield services firm that offers one of the most innovative suites of completion services and technologies to onshore oil and natural gas exploration and production companies. Liberty Oilfield Services Inc. (NYSE: LBRT)’s stock price has been pretty shaky for the last five days. Closing prices as of April 22-27 were- 

April 22- 10.17

April 23- 10.14

April 26- 10.87

April 27- 10.78

Liberty Oilfield Services Inc. (NYSE: LBRT) announced today the first quarter 2021 financial and operational results.

Summary Results and Highlights

  • Revenue of $552 million and net loss1 of $39 million, or $0.21 fully diluted loss per share, for the quarter ended March 31, 2021
  • Adjusted EBITDA2 of $32 million
  • Completed the first full quarter after the OneStim® acquisition, integration proceeding well
  • Enhanced our platform as a fully integrated completion services, engineering and diagnostics company, doubling our size with expanded services, basins and entering Canada
  • digiFrac™ field testing to commence with key partner next month following successful high-pressure durability testing in the first quarter
  • Implemented next generation of proprietary SonicStrap chemical management automation system
  • Launched FracSense™ diagnostic service

“Liberty delivered an excellent first quarter. The highly accretive acquisition of Schlumberger’s North American frac, pumpdown-perforating wireline and Permian frac sand businesses (OneStim®) strengthened our business and technology leadership. Our team handled the challenges of a large-scale integration and delivered a seamless transition for our customers. We were pleased to see early benefits from leveraging our full suite of completions services, including frac, wireline and sand, along with our top tier engineering and diagnostics tools, driving increased engagement with customers. I am proud of the Liberty team for executing at the highest level,” commented Chris Wright, Chief Executive Officer.

Mr. Wright continued, “The acquisition is transformative for Liberty and the oilfield services industry. We plan to build on the success of the first quarter with our technological advantages, an integrated suite of completion services and a highly motivated team of men and women at Liberty rising to the challenge. The investments we made through the cycle further accelerate our ability to support our customers in the next stage of the shale revolution. We are excited to bolster our frac technology leadership with rapid progress on our new electric frac fleet, digiFrac, expanded frac automation, and a new downhole real-time frac measurement service, FracSense. A year on from the onset of the global pandemic, the fundamentals of our industry are on an upward trajectory, and we believe our compelling strategy will drive the next phase of the Liberty story.”

12.29+0.09 (+0.74%)

As of 10:40AM EDT. Market open.

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