Liberty Energy provides market outlook for remainder of the year

“The industrialization of emerging economies is driving long term demand for reliable, affordable energy, and the North American land market is in a strong position as the largest supplier of incremental production. Our industry remains healthy, even with a modest contraction in oil prices from 2022 levels and transient softness in natural gas markets. The discipline of producers and service providers alike, with investment programs fueled by cash flow, steadier activity levels, and strong balance sheets, supports an industry with healthy returns and free cash flow generation,” commented Mr. Wright. “We anticipate North American completions activity will moderate in the second half of the year versus the first half. Service companies are reducing fleets in response, supporting a balanced frac market and a largely stable price environment. We expect to continue to deliver healthy free cash flow and return capital to our shareholders through opportunistic share repurchases and dividends,” commented Mr. Wright.