Denver, Colo.-based Liberty Energy Inc. (LBRT), which was formerly known as Liberty Oilfield Services Inc., operates as a provider of hydraulic fracturing, wireless services, and associated goods to onshore oil and natural gas exploration and production companies. The company provides its services primarily in the Permian Basin, the Eagle Ford Shale, the Denver-Julesburg Basin, the Williston Basin, and the Powder River Basin.
LBRT reported a first-quarter net loss of $5 million or three cents per share. Although the company expects drilling services’ strong demand to drive higher revenue and larger margins in this quarter, the U.S. hydraulic fracturing market faces labor shortages, supply chain issues, and equipment attrition, which could be a significant headwind. The company also noted that the market is tight due to underinvestment.
