Liberty Oilfield Services (LBRT) plans to raise $160 million in an initial public offering (IPO) on Friday, January 12th, IPO Scoop reports. The company will issue 10,700,000 shares at $14.00-$16.00 per share.
In the last twelve months, Liberty Oilfield Services generated $1.2 billion in revenue and $106.4 million in net income. Liberty Oilfield Services has a market cap of $1.7 billion.
Morgan Stanley, Goldman, Sachs, Wells Fargo Securities, Citigroup, J.P. Morgan and Evercore ISI acted as the underwriters for the IPO and Simmons & Company International (Energy Specialists of Piper Jaffray), Tudor, Pickering, Holt, Houlihan Lokey, Intrepid Partners, Petrie Partners Securities and SunTrust Robinson Humphrey were co-managers.
Liberty Oilfield Services provided the following description of their company for its IPO: “We are a rapidly growing independent provider of hydraulic fracturing services to onshore oil and natural gas E&P companies in North America. We provide our services primarily in the Permian Basin, the DJ Basin, the Williston Basin and the Powder River Basin and expect to deploy one or more fleets for customers in the Eagle Ford Shale in the second half of 2017. Our customer base includes a broad range of E&P companies, including Extraction Oil & Gas, Inc., SM Energy Company, Centennial Resource Development, Inc., Continental Resources, Inc., Devon Energy Corporation, Noble Energy, Inc. and Anadarko Petroleum Corporation. “.
Liberty Oilfield Services was founded in 2011 and has 1859 employees. The company is located at 950 17th Street, Suite 2000, Denver, CO 80202, US and can be reached via phone at (303) 515-2800 or on the web at https://www.libertyfrac.com.
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