October 31, 2018 / 3:02 PM / 9 months ago

Liberty Oilfield Services calls a bottom in pressure pumping market

HOUSTON, Oct 31 (Reuters) - Pressure pumper Liberty Oilfield Services on Wednesday said it expects the U.S. hydraulic fracturing market to bottom this quarter, amid weaker demand for well completions as shale production outpaced takeaway capacity.

Liberty, which plans to deploy two new hydraulic fracturing fleets in the first half of 2019, said it expects to have more demand for its services than available capacity starting early next year. The company said there are now some idled hydraulic fracturing fleets in the Permian Basin. (Reporting by Liz Hampton Editing by Chizu Nomiyama)

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