Liberty Energy Adding Fleets, Sees North American Oil Output Rising

Oil companies are "evaluating the opportunity to deploy incremental capital in North America to modestly grow production," Liberty Energy shared in its recent earnings call.

Liz Hampton, Reuters

Liberty Energy Inc. said on July 26 it will increase the number of hydraulic fracturing fleets it runs in early 2023 to the low forties, from the mid-thirties currently, as oil activity rebounds on high prices.

The current frac market is around 250 fleets and will likely exit the year at 275 fleets, the U.S.-based company said during an earnings call. Liberty said it plans to reactivate equipment this year and add two electric fleets in early 2023 as pricing has recovered.

Already have an account? Log In

Sign up for FREE access to view this article now!

Unlock Free Access