Liberty Energy Corp. announced further details on its new Bastrop County Acreage, Texas. The company provided further details on its newly acquired acreage in Bastrop County, Texas. The company can confirm having acquired two highly prospective leases in Bastrop County Texas. The combined leases measure approximately 300 acres and are situated in county that currently produces primarily from the Dale Lime, Austin Chalk, Buda and Edwards. The Austin Chalk formation stretches 500 km in length and 50 km in width. The first wells were drilled in 1929 and the formation is still producing oil and gas in economically viable quantities. New wells have IP'd (initial production) at over 1,200 barrels of oil per day (bopd)(1) and with significant cumulative production make it one of the most prolific shale plays in the US. Given the cell size, mean numbers of cells, the mean EUR, and the success ratio, the Austin Chalk in the Outlying Areas Play is estimated to contain a mean of about 200 million barrels of oil (MMBO). The Eagle Ford has long been considered the 'source rock' for hydrocarbons that are now found in the Austin Chalk formation across much of South Texas. Wells within the oil window across the play have experienced peak rates as high as 2,000 bopd, some with sustainable rates and others with steep declines. The oil reserves are estimated at 3 billion barrels of oil (BBO) with potential output of 420,000 bopd. Wells located in higher geo-pressured areas appear to be the most prolific producers. Most wells in the play are still producing in the transient flow regime and have not yet reached boundary dominated flow. There is also considerable variability among operators as to completion techniques and numerous examples of offset wells completed in one manner resulting in poor productivity with direct offsets completed in another with great success.