American Oil and Gas Reporter - September 2020 - 98

pages 98-103_Layout 1 9/23/2020 10:35 AM Page 98

IndustryFocus: Companies, People and Products
Liberty Oilfield Services Acquires Schlumberger OneStim®

Milestone Secures Permit
For Waste Disposal Facility

DENVER-Liberty Oilfield Services
Inc. and Schlumberger report they have
signed an agreement under which Schlumberger will contribute its onshore hydraulic
fracturing business in the United States
and Canada (OneStim®), including its
pressure pumping, pumpdown perforating,
and Permian frac sand businesses, to Liberty in exchange for a 37% equity interest
in the combined company.
The combined company will be one
of the largest pressure pumping providers
in North America with a combined proforma revenue in 2019 of $5.2 billion,
Liberty and Schlumberger say. They add
that the company will have a world-class
completions data and technology portfolio,
including the most comprehensive production and completions database, big
data analytics, advanced software for
modeling reservoirs and designing optimal
completions, and frac fleet automation
and electrification.
Liberty Chairman and Chief Executive
Officer Chris Wright states, "This transaction will be a transformative step forward
in our journey as a company. Our expanded
technology portfolio and breadth of op-

HOUSTON-The New Mexico Oil
Conservation Division has approved Milestone Environmental Services LLC's permits for an oil field waste slurry injection
facility near Jal in Lea County, Milestone
reports.
The company says the facility, the
first of its kind permitted in New Mexico,
required multiple permits from the
OCD, including a permit to inject oil
field waste and a solid waste management permit. These permits mark Milestone's first move into the New Mexico
side of the Permian Basin, the company
notes.
Milestone describes its proprietary
slurry injection process as an economically
efficient and environmentally superior
method for oil field waste disposal. Injecting drilling, completion and production
waste into the earth permanently sequesters the carbon it contains, materially
reducing the carbon footprint associated
with oil and gas operations, the company
explains.
For more information, visit www.milestone-es.com.
❒

CORTEC Debuts System For Relieving Pressure
HOUMA, LA.-Valve manufacturer
CORTEC now offers the CX-RV2.6
pneumatic pressure relief system, which
it says is designed to provide rapid pressure relief within high-pressure systems
such as mud pumps, managed pressure
drilling manifolds and frac relief systems.
The CX-RV2.6 is intended to replace

purely mechanical systems, CORTEC
says, explaining that it offers greater
reliability. According to the company,
the all-pneumatic system requires a
minimum air supply of only 80 psi to
function, can carry an API 6A PSL 3
monogram and is made with SIL 3rated components.
"This new, simple design offers precise control and repeatability over hundreds or even thousands of pressure
tripping events. We have proven this
design through extensive validation over
thousands of pressure cycles, with consistent tripping results within 1% of the
pressure set point," says Mike Chauvin,
CORTEC's manager of controls and
automation.
For more information, visit www.uscortec.com.
❒

With its simple and rugged design,
CORTEC's CX-RV2.6 pneumatic pressure
relief system functions when needed to protect employees and preserve operational
safety, CORTEC assures.

98 THE AMERICAN OIL & GAS REPORTER

erations will enable Liberty to further
raise our already high bar for safe, innovative, efficient and ESG-conscious frac
operations."
A presentation summarizing the transaction is available at investors.libertyfrac.com.
❒

Pearl, NGP Commit Equity
To AVAD Energy Partners II
DALLAS-AVAD Energy Partners II
LLC, a newly formed production company,
announces it has received equity commitments from investment funds managed
by Pearl Energy Investments and NGP
Energy Capital Management.
AVAD II indicates it will pursue an
acquire and exploit strategy focused on
creating value through operational excellence with an agnostic view to commodity type or basin. Chief Executive
Officer John Davis and Senior Vice President of Reservoir Engineering Tom
Quigley have worked together for 30
years at Exxon Co., Netherland, Sewell
& Associates Inc., Alpine Gas Co., and
most recently AVAD I.
Other co-founders include Vice President of Operations Michael Krehel, who
joined AVAD I early in its life following
six years at Southwestern Energy, and
Vice President of Business Development
Steven Mickey, who has worked in various
areas of the oil and gas industry with
Goldman Sachs, Denham Capital Management, and a large, private equitybacked exploration, drilling and production
company that focused on the Eagle Ford.
"I am thrilled and humbled to join
this team to continue to build upon its
track record of profitable oil and gas investing," Mickey says. "I believe we are
uniquely positioned to execute our strategy because of John, Tom and Michael's
experience successfully evaluating, operating, and monetizing a wide variety
of asset types across the United States,
including conventional, unconventional,
secondary recovery, coalbed methane,
and shallow offshore."
For more information, visit
www.avadenergy.com.
❒

Coming In October
Special Report: Election 2020.


http://investors.libertyfrac.com http://www.milestone-es.com http://www.milestone-es.com http://www.uscortec.com http://www.uscortec.com http://www.avadenergy.com

American Oil and Gas Reporter - September 2020

Table of Contents for the Digital Edition of American Oil and Gas Reporter - September 2020

Contents
American Oil and Gas Reporter - September 2020 - Intro
American Oil and Gas Reporter - September 2020 - 1
American Oil and Gas Reporter - September 2020 - 2
American Oil and Gas Reporter - September 2020 - 3
American Oil and Gas Reporter - September 2020 - 4
American Oil and Gas Reporter - September 2020 - Contents
American Oil and Gas Reporter - September 2020 - 6
American Oil and Gas Reporter - September 2020 - 7
American Oil and Gas Reporter - September 2020 - 8
American Oil and Gas Reporter - September 2020 - 9
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