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Merger Shows Hope For Battered Oil Services Sector

September 4, 2020

Via: Forbes

Who says it’s all doom and gloom in the oilfield services sector?

Sure, U.S. drilling and fracking activity remain near all-time lows, and the sector is drowning in red ink after a brutal second quarter, but as Baron Rothschild once said, “The time to buy is when there’s blood in the streets.”

That was clearly the mindset of Liberty Oilfield Services when it agreed to purchase Schlumberger’s North American shale fracking business on Monday. The $430 million all-stock deal will also see Schlumberger, the world’s largest oilfield services company, take a 37 percent equity stake in Liberty.

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