Liberty Oilfield Services Inc. Reports Earnings Results for the Second Quarter Ended June 30, 2021
July 27, 2021 at 07:05 pm
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Liberty Oilfield Services Inc. announced earnings results for the second quarter ended June 30, 2021. For the second quarter, the company announced sales was USD 581.288 million compared to USD 88.362 million a year ago. Operating loss was USD 36.004 million compared to USD 73.542 million a year ago. Net loss was USD 50.560 million compared to USD 45.771 million a year ago. Basic loss per share from continuing operations was USD 0.29 compared to USD 0.55 a year ago. For the half year, sales was USD 1,133.320 million compared to USD 560.706 million a year ago. Operating loss was USD 78.223 million compared to USD 67.256 million a year ago. Net loss was USD 84.765 million compared to USD 44.051 million a year ago. Basic loss per share from continuing operations was USD 0.5 compared to USD 0.53 a year ago.
Liberty Energy Inc. is an integrated energy services and technology company. The Company is focused on providing hydraulic services and related technologies to onshore oil and natural gas exploration and production companies in North America. It offers customers hydraulic fracturing services, together with complementary services, including wireline services, proppant delivery solutions, field gas processing and treating, compressed natural gas delivery, data analytics, related goods (including its sand mine operations), and technologies. It primarily provides its services in the Permian Basin, the Williston Basin, the Eagle Ford Shale, the Haynesville Shale, the Appalachian Basin (Marcellus Shale and Utica Shale), the Western Canadian Sedimentary Basin, the Denver-Julesburg Basin, and the Anadarko Basin. The process of hydraulic fracturing involves pumping a pressurized stream of fracturing fluid (typically a mixture of water, chemicals and proppant) into a well casing or tubing.