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LBRT Liberty Oilfield Services

Liberty Oilfield Services Inc. is a leading North American oilfield services firm that offers one of the most innovative suites of completion services and technologies to onshore oil and natural gas exploration and production companies. Liberty was founded in 2011 with a relentless focus on developing and delivering next generation technology for the sustainable development of unconventional energy resources in partnership with its customers. Liberty is headquartered in Denver, Colorado.

Company profile

Ticker
LBRT
Exchange
CEO
Christopher A. Wright
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
Liberty Oilfield Services New HoldCo LLC • Liberty Oilfield Services LLC • LOS Solar Acquisition LLC • Freedom Proppant LLC • LOS Kermit LLC • LOS Canada Holdings Inc. • LOS Canada Operations ULC ...

LBRT stock data

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Calendar

29 Jul 21
21 Oct 21
31 Dec 21
Quarter (USD)
Jun 21 Mar 21 Dec 20 Sep 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 30.71M 30.71M 30.71M 30.71M 30.71M 30.71M
Cash burn (monthly) 12.94M 7.82M 12M 15.67M (positive/no burn) (positive/no burn)
Cash used (since last report) 48.26M 29.15M 44.75M 58.42M n/a n/a
Cash remaining -17.55M 1.56M -14.04M -27.71M n/a n/a
Runway (months of cash) -1.4 0.2 -1.2 -1.8 n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
15 Oct 21 Christopher A Wright Class A Common Stock Sell Dispose S No Yes 15.21 40,000 608.4K 3,367,552
12 Oct 21 Christopher A Wright Class A Common Stock Sell Dispose S No Yes 14.22 54,100 769.3K 3,407,552
8 Oct 21 Christopher A Wright Class A Common Stock Sell Dispose S No Yes 13.83 15,900 219.9K 3,461,652
4 Oct 21 Christopher A Wright Class A Common Stock Sell Dispose S No Yes 13.13 25,500 334.82K 3,477,552
4 Oct 21 Stock Michael Class A Common Stock Sell Dispose S No Yes 13.1765 77,000 1.01M 846,727
1 Oct 21 Stock Michael Class A Common Stock Sell Dispose S No Yes 12.0687 43,000 518.95K 923,727
28 Sep 21 Stock Michael Class A Common Stock Sell Dispose S No Yes 13.0149 154,000 2M 966,727

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

90.0% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 142 134 +6.0%
Opened positions 30 23 +30.4%
Closed positions 22 15 +46.7%
Increased positions 49 55 -10.9%
Reduced positions 47 38 +23.7%
13F shares
Current Prev Q Change
Total value 2.02B 2.44B -17.3%
Total shares 160.45M 183.2M -12.4%
Total puts 326.5K 137.1K +138.1%
Total calls 413.5K 482.9K -14.4%
Total put/call ratio 0.8 0.3 +178.1%
Largest owners
Shares Value Change
SLB Schlumberger 66.33M $683.82M 0.0%
FMR 14.59M $206.6M +42.1%
TROW T. Rowe Price 13.87M $196.36M -2.6%
Vanguard 9.48M $134.22M +20.0%
Van Eck Associates 8.66M $122.67M +31.2%
BLK Blackrock 6.68M $94.63M -3.3%
Exor Investments 4.98M $70.56M +6.9%
JFG Wealth Management 3.94M $55.82M -12.2%
Towle & Co 3.01M $42.61M +73.7%
STT State Street 2.27M $32.1M +6.0%
Largest transactions
Shares Bought/sold Change
Riverstone/Carlyle Energy Partners IV 0 -12.3M EXIT
REVSF Riverstone 0 -12.3M EXIT
CG Carlyle Group Inc 0 -12.3M EXIT
FMR 14.59M +4.33M +42.1%
Van Eck Associates 8.66M +2.06M +31.2%
MCQEF Macquarie 1.73M +1.73M NEW
Vanguard 9.48M +1.58M +20.0%
Towle & Co 3.01M +1.28M +73.7%
DB Deutsche Bank AG - Registered Shares 1.61M +1.14M +244.3%
Caas Capital Management 731.43K -1.04M -58.7%

Financial report summary

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Risks
  • The COVID-19 pandemic has significantly reduced demand for our services, and has had, and may continue to have, a material adverse effect on our operations, business and financial results.
  • The integration of the Transferred Business may not be as successful as anticipated, and the Company may not achieve the intended benefits or do so within the intended timeframe.
  • The Company’s results may suffer if it does not effectively manage its expanded operations following the OneStim Acquisition.
  • The Schlumberger Parties now have significant influence over us.
  • Sales of substantial amounts of shares of Class A Common Stock in the open market by Schlumberger could depress the Company’s stock price.
  • Following the OneStim Acquisition, we expanded our operations to Canada and may be subject to increased business and economic risks.
  • Our business depends on domestic capital spending by the oil and natural gas industry, and reductions in capital spending could have a material adverse effect on our liquidity, results of operations and financial condition.
  • The volatility of oil and natural gas prices may adversely affect the demand for our hydraulic fracturing services and negatively impact our results of operations.
  • Delays or restrictions in obtaining permits by us for our operations or by our customers for their operations could impair our business.
  • Oil and natural gas companies’ operations using hydraulic fracturing are substantially dependent on the availability of water. Restrictions on the ability to obtain water for E&P activities and the disposal of flowback and produced water may impact their operations and have a corresponding adverse effect on our business, results of operations and financial condition.
  • Fuel conservation measures could reduce demand for oil and natural gas which would in turn reduce the demand for our services.
  • We may be subject to claims for personal injury and property damage, which could materially adversely affect our financial condition, prospects and results of operations.
  • We are subject to environmental and occupational health and safety laws and regulations that may expose us to significant costs and liabilities.
  • Oilfield anti-indemnity provisions enacted by many states may restrict or prohibit a party’s indemnification of us.
  • Technology advancements in well service technologies, including those involving hydraulic fracturing, could have a material adverse effect on our business, financial condition and results of operations.
  • The sand mining operations are subject to a number of risks relating to the proppant industry.
  • Silica-related legislation, health issues and litigation could have a material adverse effect on our business, reputation or results of operations.
  • We are subject to the Federal Mine Safety and Health Act of 1977, which imposes stringent health and safety standards on numerous aspects of its operations.
  • The occurrence of explosive incidents could disrupt our operations and could adversely affect our business, financial condition and results of operations.
  • The Company is required to make payments under the TRAs for certain tax benefits that it may claim, and the amounts of such payments could be significant.
  • We may be adversely affected by uncertainty in the global financial markets and the deterioration of the financial condition of our customers.
  • We are subject to cyber security risks. A cyber incident could occur and result in information theft, data corruption, operational disruption and/or financial loss.
  • We rely on certain third parties for proppant and chemical additives, and delays in deliveries of such materials, increases in the cost of such materials or our contractual obligations to pay for materials that we ultimately do not require could harm our business, results of operations and financial condition.
  • We currently utilize one preferred assembler and a limited number of suppliers for major equipment to both build new fleets and upgrade any fleets we acquire to our preferred specifications, and our reliance on these vendors exposes us to risks including price and timing of delivery.
  • Interruptions of service on the rail lines by which we receive proppant could adversely affect our results of operations.
  • Changes in transportation regulations may increase our costs and negatively impact our results of operations.
  • Our current and future indebtedness could adversely affect our financial condition.
  • Unsatisfactory safety performance may negatively affect our customer relationships and, to the extent we fail to retain existing customers or attract new customers, adversely impact our revenues.
  • If we are unable to fully protect our intellectual property rights, we may suffer a loss in our competitive advantage or market share.
  • We may be adversely affected by disputes regarding intellectual property rights of third parties.
  • Seasonal weather conditions, natural disasters, public health crises, and other catastrophic events outside of our control could severely disrupt normal operations and harm our business.
Management Discussion
  • Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations
  • We are an independent provider of hydraulic fracturing services and goods to onshore oil and natural gas E&P companies in North America.
  • We have grown from one active hydraulic fracturing fleet in December 2011 to approximately 30 active fleets in the first quarter of 2021, including the addition of fleets from the OneStim Acquisition in December 2020. We are an independent provider of hydraulic fracturing and wireline services and related goods to onshore oil and natural gas exploration and production (“E&P”) companies in North America. We provide our services primarily in the Permian Basin, the Eagle Ford Shale, the Denver-Julesburg Basin (the “DJ Basin”), the Williston Basin, the San Juan Basin and the Powder River Basin. Following the completion of the OneStim Acquisition (as defined below) we now also provide services in the Haynesville Shale, the SCOOP/STACK, the Marcellus Shale, Utica Shale, and the Western Canadian Sedimentary Basin. Additionally, we operate two sand mines in the Permian Basin.
Content analysis
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H.S. junior Avg
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