20 April 2024
Schlumberger sells loss-making US fracking unit OneStim to rival Liberty
Publication date: 01 September 2020
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Schlumberger is offloading its OneStim hydraulic fracturing business to rival Liberty Oilfield Services in an all-shares transaction that values the enterprise at USD 448 million, in return for a 37% in Liberty post-merger. The deal marks Schlumberger’s exit from the North American fracking business, which dragged the company to a heavy loss in