Schlumberger Completes Contribution Of OneStim Business To Liberty - Quick Facts

(RTTNews) - Liberty Oilfield Services Inc. (LBRT) and Schlumberger (SLB) announced the completion of the contribution of Schlumberger's onshore hydraulic fracturing business in the United States and Canada to Liberty, including its pressure pumping, pumpdown perforating, and Permian frac sand businesses, in exchange for a 37% equity interest in Liberty.

Liberty will continue to be led by its current management team. The company added two representatives from Schlumberger to its board of directors - Simon Ayat, Senior Strategic Advisor and former Executive Vice President and Chief Financial Officer, and James McDonald, President of Americas Land.