{"id":371290,"date":"2020-09-02T10:36:44","date_gmt":"2020-09-02T05:06:44","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=371290"},"modified":"2020-09-02T11:14:42","modified_gmt":"2020-09-02T05:44:42","slug":"eying-a-shale-rebound-liberty-oilfield-strikes-deal-with-schlumberger","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/eying-a-shale-rebound-liberty-oilfield-strikes-deal-with-schlumberger\/","title":{"rendered":"Eying a shale rebound, Liberty Oilfield strikes deal with Schlumberger"},"content":{"rendered":"<p>DENVER (Reuters) &#8211; Liberty Oilfield Services&#8217; acquisition of Schlumberger&#8217;s shale fracking business will make it the third-largest oilfield services firm by North American revenue, nudging out Baker Hughes Co in a bet on a shale rebound. <\/p>\n<p>Denver-based Liberty Oilfield on Tuesday agreed to swap a 37% stake in the company in exchange for Schlumberger&#8217;s North American hydraulic fracturing fleet, two Texas sand mines and other units. <\/p>\n<p>The deal comes as oilfield companies have been hard-hit by the COVID-19 pandemic, which dealt a blow to fuel demand and drove shale oil and gas firms to slash drilling, cut spending and workers. <\/p>\n<p>Consolidation will help the oilfield sector recover, Liberty Oilfield Chief Executive Chris Wright told Reuters.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>DENVER (Reuters) &#8211; Liberty Oilfield Services&#8217; acquisition of Schlumberger&#8217;s shale fracking business will make it the third-largest oilfield services firm by North American revenue, nudging out Baker Hughes Co in a bet on a shale rebound. Denver-based Liberty Oilfield on Tuesday agreed to swap a 37% stake in the company in exchange for Schlumberger&#8217;s North American hydraulic fracturing fleet, two Texas sand mines and other units. The deal comes as oilfield companies have been hard-hit by the COVID-19 pandemic, which dealt a blow to fuel demand and drove shale oil and gas firms to slash drilling, cut spending and workers. [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-371290","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/371290","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=371290"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/371290\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=371290"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=371290"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=371290"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}