Service & Supply | Top Story | Oilfield Services | Frac Markets - Pressure Pumping
Frac Companies Grows Activity, Even As Others Talk Slowdown
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Liberty Oilfield Services provided its 2Q update. Here are the quick points.
1. Revenue increased +1.3% sequentially to $542 million, however a decrease of -14% year over year.
2. Revenue per fleet increased +1.3% sequentially to $23.6 million, however it decreased -21% year over year.
3. Active Fleets were 23, unchanged from Q1.
4. The company did not add any fleet from Q1 to Q2, however we saw a reduction of 6.3 fleets from the previous year.
5. Expecting a slow down in activity as operators manage their budgets. (similar comments from Schlumberger, Halliburton, Superior Energy Services, RPC Inc/CUDD)
Outlook"Our first half 2019 results reflect the strong demand for Liberty’s differential frac services. Based on visibility into our customer activity pipeline for the year, we…
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