February 6, 2020 / 4:15 PM / 2 months ago

Liberty Oilfield deploys new frac fleet, plans new build

Feb 6 (Reuters) - U.S. shale fracking services provider Liberty Oilfield Services activated its 24th hydraulic fleet in January, and plans to build an additional fleet, the company said on Thursday.

The move comes as many companies that provide hydraulic fracturing services are idling equipment amid oversupply and weak pricing. Hydraulic fracking pumps water, sand and chemicals at high pressures to release trapped oil and gas. Top oilfield provider Schlumberger last month said it was reducing the number of its active fleets by 50%. (Reporting by Liz Hampton Editing by Chizu Nomiyama)

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