From the July 2020 edition of NAPE Magazine: THE SHALE INDUSTRY CHANGED BEYOND RECOGNITION OVER THE LAST DECADE, and it is once again in rapid transition. While we are unsure about the nature of innovations to make U.S. shale ever more competitive, we are certain that the current downturn will drive a further reduction in $/BO — the total cost to lift a barrel of U.S. shale oil to the surface. The last decade saw a tenfold rise in horsepower, a twentyfold surge in yearly stages pumped and a fortyfold yearly proppant mass increase. U.S. oil and gas employees grew…
Liberty CEO, Chris Wright shares his take on the current market conditions and his optimism for the future – in large part driven by his pride in the strength of the Liberty team. Liberty’s success has derived from the company being “the preferred provider for our customers,” Wright said. “In the past two years, we have been growing our market share with the largest E&Ps,” he continued. “The pie is shrinking now, but we’re growing our piece of that pie because I think we do a better job than our competitors.” Liberty also has been selective of its customers. “I…
Liberty was founded in 2011 with the mission to build a different frac company. Liberty founders each bring over 20 years of technology thought leadership and operations excellence that have been powering the shale revolution from its beginnings in the late 1990s. We are dedicated to partnering with leading exploration and production companies to apply technology innovations and superior operations. From day one we have been committed to reducing our customers’ cost of producing a barrel of oil.
Liberty will continue to place faith in our people and will invest in hiring, training and retaining the best and brightest individuals in our field. Building partnerships with our customers and understanding what drives their success is what sets Liberty apart… when they succeed, we succeed. We are excited to lead change in the industry and continue to make our customers stronger by building better wells faster, safer, and cleaner.