303-515-2851 According to the allegations in the indictment, on the night of the incident, Jacob Dean responded to a call to check the pump house at the facility, an enclosed building with two bay doors. He argues Liberty knew the fracking industry was producing more supply than what long-term demand prospects suggested was necessary, even though at the time Liberty was claiming it had an opportunity to capture market share from other bankrupt fracking equipment suppliers. Building partnerships with our customers and understanding what drives their success is what sets Liberty apart when they succeed, we succeed. See here for a complete list of exchanges and delays. While moving the bridge from one end of the bay to the other, the crane operator was in a location which made it impossible for him to see the path of travel of the crane, and obstructions in the path of travel, creating a struck-by hazard to workers in the path. Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, we do not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. LPI's initial focus is on providing compressed natural gas (CNG) supply, field gas processing and treating, and well-site fueling and logistics. From day one we have been committed to reducing our customers cost of producing a barrel of oil. Official websites use .gov TTY Excluding this cost, Adjusted EBITDA, Completed successful field test of Libertys digiFrac, Held Libertys first investor day highlighting our culture, technology, financial performance and strategic outlook, Transitioned OneStim acquisition from initial integration focus to the next phase of raising operational and capital efficiency through technology, integration and automation. Liberty achieved solid momentum in the third quarter. Liberty Energy has 3 employees across 16 locations and $4.15 b in annual revenue in FY 2022. TTY A live webcast will be available at http://investors.libertyfrac.com. Liberty Oilfield Services Inc. Announces Third Quarter 2021 Financial Tuesday, March 8, 2022 Charges Filed in Connection with Texas Oilfield Deaths A federal grand jury in Midland, Texas, returned an indictment charging an oilfield company and an executive of the company with worker safety and environmental crimes. Net loss before income taxes totaled $36 million for the second quarter of 2021 compared to net loss before income taxes of $46 million for the first quarter of 2021. Liberty Oilfield Services Inc. | Occupational Safety and Health Its all about the fresh ingredients, like the Marinated Mushroom Are you thinking of buying or selling a home in Boulder? Concurrently, there has been frac industry consolidation, equipment cannibalization and attrition. Pre-tax Return on Capital Employed is the ratio of pre-tax net loss for the twelve months ended September 30, 2021 to Average Capital Employed. Shareholder sues Liberty Oilfield Services, claiming misleading IPO Schlumberger's recent purchase of Weatherford's pressure pumping business should give. In accordance with U.S. GAAP, diluted weighted average common shares outstanding for the three months ended June 30, 2021, March 31, 2021 and June 30, 2020, exclude weighted average shares of Class B common stock (7,641, 16,333 and 29,392, respectively), restricted shares (0, 0 and 246, respectively) and restricted stock units (4,107, 3,326 and 1,914, respectively) outstanding during the period. As a result of its Oracle Cloud migration, Liberty has benefited from seamless integration for all key business functions and improved coordination between quoted and executed jobs. Chief Financial Officer Kiszla: Nuggets won't be denied first championship. Because of the rapid growth, Liberty needed modern technology to scale, as well as a platform that could evolve with business needs and requirements. All quotes delayed a minimum of 15 minutes. See the tables entitled Reconciliation and Calculation of Non-GAAP Financial and Operational Measures for a reconciliation or calculation of the non-GAAP financial or operational measures to the most directly comparable GAAP measure. Liberty Oilfield Services Inc. Announces First Quarter 2022 Financial Environment and Natural Resources Division. Share sensitive information only on official, secure websites. Sand is used in the hydraulic fracturing, or fracking, of oil and gas wells. Founded in 2016, PropX is a leading provider of last-mile proppant delivery solutions including proppant handling equipment and logistics software across North America. Liberty Oilfield Services Inc. Operating and finance lease right-of-use assets, Current portion of operating and finance lease liabilities, Current portion of long-term debt, net of discount, Long-term operating and finance lease liabilities, Payable pursuant to tax receivable agreement, Reconciliation and Calculation of Non-GAAP Financial and Operational Measures, Reconciliation of Net Loss to EBITDA and Adjusted EBITDA, Gain on remeasurement of liability under tax receivable agreement, Calculation of Pre-Tax Return on Capital Employed, View source version on businesswire.com: https://www.businesswire.com/news/home/20211026006345/en/, Michael Stock Sentencing Guidelines and other statutory factors. We focus on offering safe, efficient and high quality hydraulic fracturing and engineering services, aiming to become the vendor of choice. In Colorado, operations havent rebounded as much because of regulatory uncertainty, Wright said. More broadly, we are also navigating the macroeconomic supply and demand shocks triggered by the pandemic and related re-openings that are creating supply chain constraints and labor shortages. Global oil and gas supply remains constrained by underinvestment in oil and gas production and associated infrastructure. Although we believe that the expectations reflected in these forward-looking statements are reasonable, they do involve certain assumptions, risks and uncertainties. Exclusive news, data and analytics for financial market professionals, Reporting by Liz Hampton in Denver and Sabrina Valle in Houston; Editing by Leslie Adler and Gerry Doyle, OPEC+ begins meetings that may agree further output cuts, Sweden orders Uniper to fire up mothballed plant, US oil rig count falls by most since September 2021, Baker Hughes says, Exclusive: Russia's Taman port set to suspend LPG exports over drone danger, Boeing CEO says fixing supply chain constraints is 'frustratingly slow', U.S. concludes Mexico airspace review, but no verdict yet, Gupta seeks extension to challenge freezing order in Trafigura case, Renault customers to lodge criminal complaint in France over faulty engines, Venezuela's oil exports drop as heavy crude processing sags, stocks drain. The indictment alleges that the defendants made false statements regarding the mechanical integrity of Aghorn injection wells in forms and pressure charts filed with the Railroad Commission. Why Is Liberty Oilfield Services (LBRT) Down 4.6% Since Last Earnings Tightness in global commodity markets is bolstering demand for frac services in support of energy consumption. Liberty Oilfield Services is headquartered in Denver, CO and has 12 office locations located throughout the US. GAAP). As activity has improved meaningfully over the last year, we are working diligently to provide superior services to our customers, while balancing the management of temporary pandemic-related challenges and the recovery of returns to an acceptable level. Please see the supplemental financial information in the table under Reconciliation of Net Loss to EBITDA and Adjusted EBITDA at the end of this earnings release for a reconciliation of the non-GAAP financial measure of Adjusted EBITDA to its most directly comparable GAAP financial measure. Our goal is to provide frac design and execution with a real-data focus to . DENVER/HOUSTON, Sept 23 (Reuters) - Exxon Mobil (XOM.N) temporarily halted maintenance at an East Texas oil drilling facility after a fatality this week, which was at least the second death this year of a contractor at one of its Texas production sites. We focus on offering safe, efficient, and high-quality hydraulic fracturing, engineering, and wireline services, aiming to become the vendor of choice. Please click the button below to continue. As of June 30, 2021, Liberty had cash on hand of $31 million, a decrease from first quarter levels as working capital increased, and total debt of $106 million, net of deferred financing costs and original issue discount. Risk Factors included in our Annual Report on Form 10-K for the year ended December 31, 2020 as filed with the SEC on February 24, 2021 and in our other public filings with the SEC. For the second quarter of 2021, revenue increased 5% to $581 million from $552 million in the first quarter of 2021. Liberty was founded in 2011 with a relentless focus on developing and delivering next generation technology for the sustainable development of unconventional energy resources in partnership with our customers. A live webcast will be available at http://investors.libertyfrac.com. We believe we are significantly advantaged with our deep customer relationships, comprehensive best-in-class service offering and a strong balance sheet to navigate the near-term market into the mid-cycle, commented Mr. Wright. Liberty Oilfield Services. In the suit filed late Friday in the U.S. District Court for Colorado, shareholder Marc Joseph claims Liberty and its underwriters oversold Libertys ability to compete in the energy industry in the months leading up to its $220 million initial public offering in January 2018. Net loss1 (after taxes) totaled $39 million for the third quarter of 2021 compared to net loss1 of $52 million in the second quarter of 2021. Company Profile | Liberty Oilfield Services