Bergen, Norway / Denver, USA – Bergen Engines today announced an award from Liberty Energy for more than 500 megawatts (“MW”) of on-site power generation capacity for large-scale AI data center developments in the United States.

The projects may operate fully off-grid, in true island mode, or grid parallel, providing a comprehensive power solution designed to meet the demands of high-density AI computing environments.

The developments form part of Liberty Energy’s strategy to deploy scalable, on-site power infrastructure tailored to the unique requirements of AI data centers, combining rapid deployment capability with long-term operational resilience. By partnering with Bergen Engines (formally Rolls-Royce Bergen Engines), Liberty is leveraging proven medium-speed generation technology to deliver reliable, high-capacity power systems independent of grid constraints.

The projects are being developed by Liberty Energy through its Liberty Power Innovations (LPI) division, a purpose-built platform focused on deploying distributed power infrastructure to support the growing demands of AI-era data centers.

As AI infrastructure continues to scale, data center developers are turning to uniquely engineered solutions to overcome grid limitations and accelerate deployment timelines. These AI facilities introduce highly dynamic and unpredictable load profiles, placing new demands on both power generation systems and the stability of sensitive IT infrastructure.

Under the agreement, Bergen Engines will supply 45 × B36:45V20 AG1 gas generator sets, each rated at 11.2Mwe, delivering a total installed capacity of over 500MW. The engines can operate in true island mode, forming the backbone of a fully independent power system.

The solution integrates Bergen Engines’ gensets with Piller Power Systems’ SHIELDX™ Dynamic Power Stabilization technology, both part of Langley Holdings’ Power Solutions Division. This flywheel-based architecture continuously absorbs and manages sub-second AI load step variations of up to 30%, protecting the generation assets while delivering stable, conditioned power across a 20+ year operating lifecycle.

This integrated architecture enables the system to manage extreme load transients without requiring oversized generation capacity, improving efficiency while reducing fuel consumption, emissions, and overall system footprint.

“AI data centers are fundamentally changing how power infrastructure can be designed and deployed, and this initial order with Bergen Engines reflects a shared commitment to providing reliable, high-efficiency power solutions to support critical data center infrastructure growth,” said Ron Gusek, CEO of Liberty Energy. “Collaborating with Bergen Engines strengthens our power platform, serving as an important component of our broader integrated solution that includes LPI’s Forte^SM modular power generation architecture and Tempo^SM power quality system.  Together, we will be able to deliver essential power generation infrastructure to support the demanding requirements of next-generation computing.”

“These environments require robust baseload generation and the ability to respond to rapid and significant load fluctuations,” said Theo Lorentzos, Vice President Sales Americas at Bergen Engines. “By working in partnership with Liberty and integrating SHIELDX™, we are delivering a solution that combines proven generation performance with the flexibility required for AI-driven demand profiles.”

“SHIELDX™ protects the generation assets from highly dynamic, sub-second load behavior, enabling stable plant operation under extreme load fluctuations,” said Dean Miller, CEO of Piller Power Systems. “This ensures optimal engine performance while delivering consistent, high-quality power to the data center.”

Deliveries are scheduled to commence in the second half of 2027.

The agreement reflects a broader shift in the U.S. energy and technology sectors, as the expansion of AI drives investment in dedicated, on-site power infrastructure. As grid capacity struggles to keep pace with demand, integrated solutions such as this are enabling a new generation of resilient, scalable data center deployments.

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ABOUT LIBERTY ENERGY

Liberty Energy Inc. (NYSE: LBRT) is a leading energy services company. Liberty is one of the largest providers of completion services and technologies to onshore oil, natural gas, and enhanced geothermal energy producers in North America. Liberty also owns and operates Liberty Power Innovations LLC, providing advanced distributed power and energy storage solutions, supported by strategic relationships across advanced nuclear, enhanced geothermal, and battery energy storage systems, serving the commercial and industrial, data center, energy, and mining industries. Liberty was founded in 2011 with a relentless focus on value creation through a culture of innovation and excellence and the development of next generation technology. Liberty is headquartered in Denver, Colorado. For more information, please visit www.libertyenergy.com and www.libertypowerinnovations.com, or contact Investor Relations at IR@libertyenergy.com.

ABOUT BERGEN ENGINES

Bergen Engines produces medium-speed engines and generator sets to a broad range of land-based, commercial marine, and naval applications. The Bergen name is a watchword for quality and reliability in its field. The tradition of engineering in Bergen, Norway, dates to 1855 when the original company Bergen Mekaniske Verksted (BMV) was founded. In 1946, the company built its first diesel engine and has since commissioned over 7,500 of its iconic liquid and gas fueled engines. Around half of them are still in operation today. Formerly Rolls-Royce Bergen Engines, on 31st December 2021, the company became part of the privately owned British engineering group, Langley Holdings plc.

ABOUT PILLER POWER SYSTEMS

Piller technology is the Gold Standard premium power technology. For many of the world’s best known central banks, stock exchanges, financial institutions and governmental agencies; data center operators, telecoms networks and airports, hospitals, semiconductor and pharmaceutical manufacturers, Piller is the go-to technology for mission-critical power reliability. And now, as AI data center operators increasingly go to behind-the-meter (BTM) power, Piller technology is finding a whole new purpose managing AI transients and BTM load steps with ease.

In 2016 Piller acquired the Austin TX kinetic energy storage producer, Active Power Inc. Piller Group GmbH is a wholly owned subsidiary of the UK engineering and industrial group, Langley Holdings plc and is part of the Power Solutions Division.

Forward Looking Statements

The information above contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995.  All statements, other than statements of historical facts, included herein that address activities, events or developments that will or may occur in the future are forward-looking statements, including those with respect to the delivery timelines for equipment and  performance of the equipment being acquired.  Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. These forward-looking statements are identified by their use of terms and phrases such as “may,” “expect,” “estimate,” “outlook,” “project,” “plan,” “position,” “believe,” “intend,” “achievable,” “forecast,” “assume,” “anticipate,” “will,” “continue,” “potential,” “likely,” “should,” “could,” and similar terms and phrases. However, the absence of these words does not mean that the statements are not forward-looking. Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, we do not undertake any obligation and expressly disclaim any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Liberty Energy Contact:

Michael Stock
Chief Financial Officer

Anjali Voria, CFA
Vice President of Investor Relations

303-515-2851
IR@libertyenergy.com

The post Liberty Selects Bergen Engines to Deliver Over 500MW of On-Site Generation Capacity to Support Large-Scale Data Center Developments Across the United States appeared first on Liberty Energy.

Summary Results and Highlights

• Revenue of $4.0 billion for the year ended December 31, 2025
• Net income of $148 million, or $0.89 fully diluted earnings per share (“EPS”), for the year ended December 31, 2025
• Adjusted EBITDA¹ of $634 million for the year ended December 31, 2025
• Achieved 13% Cash Return on Capital Invested (“CROCI”)² for the year ended December 31, 2025
• Distributed $77 million to shareholders in 2025 through quarterly cash dividends and share repurchases
• Fourth quarter 2025 revenue of $1.0 billion and net incomeof $14 million, or $0.08 fully diluted earnings per share
• Fourth quarter 2025 Adjusted EBITDA¹ of $158 million
• Raised quarterly cash dividend by 13% to $0.09 per share beginning in the fourth quarter of 2025
• Announced a 1 GW power development agreement with Vantage Data Centers, anchored by a firm reservation contract for 400 MW
• Executed a 330 MW power reservation and preliminary energy services agreement (“ESA”) with a leading data center developer for a site expansion in Texas last week
• Accelerated deployment plan for distributed power projects to 3 GW by 2029

“Liberty’s strong fourth quarter results capped a year marked by heightened oil market uncertainty and softer industry completions activity. Our team’s focus on technological innovation and strong operational execution drove superior performance and a resilient CROCI² of 13% during a volatile year,” commented Ron Gusek, chief executive officer. “During the year, we strengthened our customer relationships by expanding our simulfrac offering with strategic, dedicated customers and delivering meaningful efficiencies. Leveraging Liberty developed AI-driven asset optimization software and our digiTechnologies^SM transition, we reduced total maintenance costs per unit of work by approximately 14%. We built the Liberty Power Innovations (“LPI”) execution platform for earnings growth with strategic partnerships and targeted investments. We have gained strong commercial traction, capitalizing on the revolutionary transformation of power supply and delivery that is redefining the energy landscape.”

“Earlier this year, we announced an agreement with Vantage Data Centers to develop and deliver at least one gigawatt (“1 GW”) of utility scale, high efficiency power solutions, supporting the energization of Vantage data center projects for hyperscale end users. The agreement is anchored by a firm reservation of 400 megawatts (“MW”) delivered during 2027, with a contracted payment structure that aligns with the expected returns under an ESA with end users,” continued Mr. Gusek. “This agreement creates a collaborative framework to accelerate the deployment of power solutions for Vantage’s data centers, preserving flexible execution to meet customer needs across a broad portfolio of data center sites.”

“We also entered into a power reservation and preliminary ESA with another leading data center developer for a 330 MW data center expansion in Texas. The project is currently expected to begin operations in two phases, with the first half online in Q4 2027 and the second half in Q2 2028. The agreement defines the economic terms of the expected ESA as well as the construction schedule, cost recovery, and termination payment provisions in the event the final agreement is not executed,” continued Mr. Gusek. “Our projects will be developed using LPI’s Forte^SM modular, standardized construction approach designed to de-risk project execution and will include the Tempo^SM power quality system to manage the high-amplitude, cyclical load variations of AI workloads. These customers could also benefit from the Chorus^SM solution with a potential grid integration, optimizing power costs and providing access to grid attributes that they value.”

“We are at the forefront of a seismic shift in how data centers and other large loads are sourcing power. Onsite generation has emerged as the preferred long-term energy strategy for large consumers of power due to evolving grid dynamics and market pressures. Our robust power execution platform is built upon 15 years of industry-leading experience in the design, manufacture, engineering, and operation of complex, industrial scale assets, leveraging our broad North American geographic footprint, expansive supply chain, and AI-enhanced operations and maintenance systems. Our comprehensive power solution is designed to address our customers’ top priorities: rapid, scalable deployment with uninterrupted operations and predictable power costs. LPI’s power as a service offering, underpinned by the Forte generation platform, Tempo power quality management system, and our midstream services, delivers resilience, economic efficiency, and operational flexibility. Our Chorus solution could further unlock power cost advantages through grid integration, while also transforming our customers into active contributors to grid reliability for local communities,” continued Mr. Gusek. “LPI’s distributed power solutions are a strategic cornerstone of resilient, future-proof energy planning for our customers.”

“We are focused on driving value creation, prioritizing long-term returns with our industry-leading completions business and our power growth platform,” commented Mr. Gusek. “Our success is fueled by the combination of cutting-edge technology, a dedicated workforce, and strategic partners across the energy ecosystem, powering innovation today to shape the future of the industry.”

Outlook

As we enter the new year, Liberty’s premier completions business and rapidly scaling power infrastructure platform position the company to lead through market cycles and capitalize on power growth potential. During 2025, we strengthened our core oilfield service operations while aggressively expanding our reach into the growing power market.

U.S. power demand is rising at the fastest pace in decades. The convergence of AI-driven data center expansion, the onshoring of domestic manufacturing, and increased industrial electrification has created structural demand growth for power. Underinvestment in grid infrastructure, transmission constraints, and evolving commercial realities and utility reforms, driven in part by public concerns, have catalyzed broader market recognition of the inherent strategic value of distributed power solutions. Against this backdrop, data center demand for power is projected to grow threefold by 2030, and already long interconnection queues continue to lengthen, highlighting the urgent need for flexible, scalable capacity to meet rapidly evolving energy requirements. LPI is well positioned to support this call, providing power consumers with predictable, long-term power prices. Our platform is designed to be economically competitive with today’s grid prices at our targeted returns and is increasingly advantaged as grid power prices rise over time.

Within North American oil and gas markets, conditions have now stabilized after a protracted period of softening activity, as the industry has largely adjusted to last year’s OPEC+ supply concerns and tariff-related volatility. Fourth quarter completions activity defied normal seasonal declines, surpassing expectations. Completions demand is projected to hold firm in 2026. North American producers are responding to global oil and gas dynamics with flat oil production targets and modest growth in gas-directed activity. Global oil markets are currently balancing a structural oil surplus, elevated geopolitical risk, and an OPEC+ production pause, keeping oil prices largely rangebound. Natural gas markets are supported by significant expansion in LNG export capacity and multi-year growth in power consumption.

Industry fundamentals are expected to improve over time as supply-side dynamics gradually rebalance with completions demand. Recent pricing pressures on completions services, combined with the slowdown in activity, have driven an acceleration in equipment cannibalization and attrition, while underinvestment in next generation technology has limited the replacement of lost capacity. As the market recalibrated at the start of the year, fewer crews are available to meet any incremental completions demand.

E&Ps remain focused on harnessing efficiency gains and engineering solutions to lower the total cost per unit of energy, driving the bar higher for technologically superior services and operational success to achieve these results. Few service providers are positioned to meet the increasing demand for multi-frac jobs, 24-hour continuous operations, and AI-optimized automation and real-time operational transparency that enhances completions execution and data-driven decision-making. This ongoing “flight to quality” is fundamentally reinforcing Liberty’s market leadership, as producers rely on our total service platform, seamlessly aligning our integrated services to deliver a superior service and drive relative outperformance.

“Liberty has evolved from a premier North American completions company into a diversified energy technology and power infrastructure platform. We invested in our technology and culture, while growing our oilfield market share and developing LPI,” commented Mr. Gusek. “This proactive stance has left us well-positioned to capitalize on the dual tailwinds of a potential completions inflection and the generational surge in U.S. power demand.”

“Our differentiated power execution platform and a robust pipeline of power projects position us to capture structural growth in power demand. We now plan to deploy approximately 3 GW of power projects by 2029 to deliver sustained, long duration earnings and high returns for our investors,” continued Mr. Gusek.

“Our first quarter is expected to reflect the full realization of pricing headwinds and winter weather disruption to drive lower sequential revenue and Adjusted EBITDA. While the precise timing of a broader oil market recovery remains uncertain, we are anticipating stabilization in completions markets, significant demand for our digiTechnologies platform at improved economics, and a powerful growth engine with AI and cloud data center power demand.”

Cash Dividend

During the quarter ended December 31, 2025, Liberty paid a quarterly cash dividend of $0.09 per share of Class A common stock, or approximately $15 million in aggregate to shareholders. During the year ended December 31, 2025, Liberty paid cash dividends of $53 million in aggregate to shareholders.

On January 20, 2026, the Board declared a cash dividend of $0.09 per share of Class A common stock, to be paid on March 18, 2026, to holders of record as of March 4, 2026.

Future declarations of quarterly cash dividends are subject to approval by the Board of Directors and to the Board’s continuing determination that the declarations of dividends are in the best interests of Liberty and its stockholders. Future dividends may be adjusted at the Board’s discretion based on market conditions and capital availability.

Share Repurchase Program

During the year ended December 31, 2025, Liberty repurchased and retired 1,546,138 shares of Class A common stock at an average of $15.50 per share, representing 1% of shares outstanding, for approximately $24 million.

Liberty has cumulatively repurchased and retired 16% of shares outstanding at program commencement on July 25, 2022. Total remaining authorization for future common share repurchases is approximately $270 million.

The shares may be repurchased from time to time in open market transactions, through block trades, in privately negotiated transactions, through derivative transactions or by other means in accordance with federal securities laws. The timing, as well as the number and value of shares repurchased under the program, will be determined by the Company at its discretion and will depend on a variety of factors, including management’s assessment of the intrinsic value of the Company’s common stock, the market price of the Company’s common stock, general market and economic conditions, available liquidity, compliance with the Company’s debt and other agreements, applicable legal requirements, and other considerations. The exact number of shares to be repurchased by the Company is not guaranteed, and the program may be suspended, modified, or discontinued at any time without prior notice. The Company expects to fund the repurchases by using cash on hand, borrowings under its revolving credit facility and expected free cash flow to be generated through the authorization period.

2025 Full Year Results

For the year ended December 31, 2025, revenues of $4.0 billion decreased 7% from $4.3 billion for the year ended December 31, 2024.

Net income(after taxes) totaled $148 million for the year ended December 31, 2025 compared to $316 million for the year ended December 31, 2024.

Adjusted Net Income³ (after taxes) totaled $25 million for the year ended December 31, 2025 compared to $277 million for the year ended December 31, 2024.

Adjusted EBITDA¹ of $634 million for the year ended December 31, 2025, decreased 31% from $922 million for the year ended December 31, 2024. Please refer to the reconciliation of Adjusted EBITDA (a non-GAAP measure) to net income (a GAAP measure) in this earnings release.

Fully diluted earnings per share was $0.89 for the year ended December 31, 2025 compared to $1.87 for the year ended December 31, 2024.

Adjusted Net Income per Diluted Share³ of $0.15 for the year ended December 31, 2025 compared to $1.64 for the year ended December 31, 2024.

Please refer to the tables at the end of this earnings release for a reconciliation of Adjusted EBITDA, Adjusted Net Income, and Adjusted Net Income per Diluted Share (each, a non-GAAP financial measure) to the most directly comparable GAAP financial measures.

Fourth Quarter Results

For the fourth quarter of 2025, revenue was $1 billion, an increase of 10% from $944 million in the fourth quarter of 2024 and 10% from $947 million in the third quarter of 2025.

Net income (after taxes) totaled $14 million for the fourth quarter of 2025 compared to $52 million in the fourth quarter of 2024 and $43 million in the third quarter of 2025.

Adjusted Net Income (Loss)³ totaled $8 million for the fourth quarter of 2025 compared to $17 million in the fourth quarter of 2024 and ($10 million) in the third quarter of 2025.

Adjusted EBITDA¹ of $158 million for the fourth quarter of 2025 increased 1% from $156 million in the fourth quarter of 2024 and 23% from $128 million in the third quarter of 2025. Please refer to the reconciliation of Adjusted EBITDA (a non-GAAP measure) to net income (a GAAP measure) in this earnings release.

Fully diluted earnings per share was $0.08 for the fourth quarter of 2025 compared to $0.31 for the fourth quarter of 2024 and $0.26 for the third quarter of 2025.

Adjusted Net Income (Loss) per Diluted Share³ was $0.05 for the fourth quarter of 2025 compared to $0.10 for the fourth quarter of 2024 and $(0.06) for the third quarter of 2025.

Balance Sheet and Liquidity

As of December 31, 2025, Liberty had cash on hand of $28 million, an increase from third quarter levels, and total debt of $247 million drawn on the secured asset-based revolving credit facility (“ABL Facility”) and long-term note facility, a $6 million decrease from third quarter. Total liquidity, including availability under the ABL Facility, was $281 million as of December 31, 2025.

Conference Call

Liberty will host a conference call to discuss the results at 7:30 a.m. Mountain Time (9:30 a.m. Eastern Time) on Thursday, January 29, 2026. Presenting Liberty’s results will be Ron Gusek, chief executive officer, and Michael Stock, Chief Financial Officer.

Individuals wishing to participate in the conference call should dial (833) 255-2827, or for international callers (412) 902-6704. Participants should ask to join the Liberty Energy call. A live webcast will be available at http://investors.libertyenergy.com. The webcast can be accessed for 90 days following the call. A telephone replay will be available shortly after the call and can be accessed by dialing (855) 669-9658, or for international callers (412) 317-0088. The passcode for the replay is 5460375. The replay will be available until February 5, 2026.

About Liberty

Liberty Energy Inc. (NYSE: LBRT) is a leading energy services company. Liberty is one of the largest providers of completion services and technologies to onshore oil, natural gas, and enhanced geothermal energy producers in North America. Liberty also owns and operates Liberty Power Innovations LLC, providing advanced distributed power and energy storage solutions, supported by strategic relationships across advanced nuclear, enhanced geothermal, and battery energy storage systems, serving the commercial and industrial, data center, energy, and mining industries. Liberty was founded in 2011 with a relentless focus on value creation through a culture of innovation and excellence and the development of next generation technology. Liberty is headquartered in Denver, Colorado. For more information, please visit www.libertyenergy.com and www.libertypowerinnovations.com, or contact Investor Relations at IR@libertyenergy.com.

View the full press release on Liberty’s investor site.

¹“Adjusted EBITDA” is not presented in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”). Please see the supplemental financial information in the table under “Reconciliation of Net Income to EBITDA and Adjusted EBITDA” at the end of this earnings release for a reconciliation of the non-GAAP financial measure of Adjusted EBITDA to its most directly comparable GAAP financial measure.

²Cash Return on Capital Invested (“CROCI”) is a non-U.S. GAAP operational measure. Please see the supplemental financial information in the table under “Calculation of Cash Return on Capital Invested” at the end of this earnings release.

³“Adjusted Net Income” and “Adjusted Net Income per Diluted Share” are not presented in accordance with U.S. GAAP. Please see the supplemental financial information in the table under “Reconciliation of Net Income and Net Income per Diluted Share to Adjusted Net Income and Adjusted Net Income per Diluted Share” at the end of this earnings release for a reconciliation of the non-GAAP financial measures of Adjusted Net Income and Adjusted Net Income per Diluted Share to the most directly comparable GAAP financial measures.

The post Fourth Quarter and Full Year 2025 Financial and Operational Results appeared first on Liberty Energy.

Under the agreement, Vantage and LPI will partner to deliver up to one gigawatt (1GW) of power agreements between LPI and end-users of Vantage’s data centers within the next five years, including a reservation of 400 megawatts (MW) of 2027 power generation capacity, as well as future expansion potential beyond 1GW.

The collaboration between Vantage and LPI will bolster Vantage’s strategic capabilities to accelerate data center campus development for sophisticated technology companies, enabling Vantage to rapidly deliver digital infrastructure featuring LPI’s integrated power solutions in markets where grid capacity is constrained.

The AI revolution along with continued cloud growth is driving a generational change in power demand. The LPI and Vantage collaboration will deliver power solutions that protect local communities from higher power costs and supply strain, while offering the ability to support the local grid and strengthen energy resilience when needed.

“As demand for digital infrastructure accelerates, access to dependable, high efficiency, scalable power is critical for hyperscale growth,” said Dana Adams, president, North America at Vantage Data Centers. “Partnering with strategic organizations such as LPI strengthens our ability to deliver capacity for our customers where and when they need it, while controlling costs and growing responsibly in power-constrained markets. LPI’s ability to provide significant, near-term generation, and their long-term commitment to reliable operations, make them an ideal partner as we deliver the next wave of innovative digital infrastructure. This partnership, combined with our existing supplier relationships, puts Vantage in a unique position to support our customers.”

“We are excited to join Vantage in this landmark collaboration to develop and deliver 1GW or more of power for their data center campuses. With more than a decade of expertise in advanced distributed power systems, we design, build and operate tailored power solutions that address increasingly complex power demands, combining integrated engineering with real-time digital operations. Our North American platform provides the scale, reliability and operational expertise to support Vantage in this major energy infrastructure undertaking,” commented Ron Gusek, chief executive officer of Liberty. “This alliance represents a significant step forward in aligning energy and digital infrastructure to meet growing demand for AI services while setting a new standard for unprecedented scale and reliability.”

LPI’s comprehensive platform, including Forte℠ power generation and Tempo℠ intelligent load management, provides reliable long-term primary power along with energy services and grid management capabilities for optimization and resiliency. Within data center campuses, co-located generation will connect through a dedicated distribution network, enabling high-density, AI-optimized operations, and includes the ability to accommodate a future grid interconnect. The system can operate autonomously or leverage grid attributes to maximize efficiency and reliability.

About Vantage Data Centers

Vantage Data Centers is a global leader in digital infrastructure serving the world’s most influential AI and cloud providers. With operations spanning North America, EMEA and Asia Pacific, Vantage delivers capacity at unrivaled speed and scale, driven by a relentless commitment to operational excellence and customer success. Vantage is empowering transformative companies to shape the future.

For more information, visit https://www.vantage-dc.com.

About Liberty Energy

Liberty Energy Inc. (NYSE: LBRT) is a leading energy services company. Liberty is one of the largest providers of completion services and technologies to onshore oil, natural gas and enhanced geothermal energy producers in North America. Liberty also owns and operates Liberty Power Innovations LLC, providing advanced distributed power and energy storage solutions, including partnerships in advanced nuclear, enhanced geothermal, and battery energy storage systems, for the commercial and industrial, data center, energy, and mining industries. Liberty was founded in 2011 with a relentless focus on value creation through a culture of innovation and excellence and the development of next generation technology. Liberty is headquartered in Denver, Colorado.

For more information, please visit www.libertyenergy.com and www.libertypowerinnovations.com, or contact Investor Relations at IR@libertyenergy.com.

Forward-Looking and Cautionary Statements

The information above includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included herein are forward-looking statements. These forward-looking statements are identified by their use of terms and phrases such as “may,” “expect,” “estimate,” “outlook,” “project,” “plan,” “position,” “believe,” “intend,” “achievable,” “forecast,” “assume,” “anticipate,” “will,” “continue,” “potential,” “likely,” “should,” “could” and similar terms and phrases. However, the absence of these words does not mean that the statements are not forward-looking. Although we believe that the expectations reflected in these forward-looking statements are reasonable, they do involve certain assumptions, risks and uncertainties. These forward-looking statements represent our current expectations or beliefs concerning future events, and it is possible that the results described in this release will not be achieved. These forward-looking statements are subject to certain risks, uncertainties and assumptions identified above or as disclosed from time to time in Liberty’s filings with the Securities and Exchange Commission. As a result of these factors, many of which are beyond our control, actual results may differ materially from those indicated or implied by such forward-looking statements.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, we do not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260104200386/en/

Liberty Energy Contacts:
Michael Stock
Chief Financial Officer

Anjali Voria, CFA
Vice President of Investor Relations
IR@libertyenergy.com
+1-303-515-2851

Vantage Data Centers Contacts:
Mark Freeman
Vantage Data Centers
mfreeman@vantage-dc.com
+1-202-680-4243

Robin Bectel
REQ for Vantage Data Centers
vdc@req.co
+1-202-936-6335

The post Vantage Data Centers and Liberty Energy Announce Strategic Partnership to Develop and Operate One Gigawatt of Power Solutions for Next Generation Data Centers appeared first on Liberty Energy.

We are excited and honored to join NYSE Texas. Texas sits at the heart of North American energy leadership, shaping the future of global progress.

– Ron Gusek, CEO

“We are excited and honored to join NYSE Texas. Texas sits at the heart of North American energy leadership, shaping the future of global progress,” said Ron Gusek, Chief Executive Officer. “With a strong presence and a dedicated team of over 2,000 employees across the state, our mission of bettering human lives begins with empowering the communities where we live and work. We’re proud to deliver reliable energy and power solutions that underpin the technological revolution and human flourishing, guided by the same spirit of innovation, entrepreneurship, and operational excellence that define both our company and the Lone Star State.”

“As a key player in the energy services industry, we are proud to welcome Liberty Energy to the NYSE Texas community,” said Bryan Daniel, President, NYSE Texas.

Liberty will maintain its primary listing on the New York Stock Exchange and will trade with the same “LBRT” ticker symbol on NYSE Texas, effective October 30, 2025.

About Liberty

Liberty Energy Inc. (NYSE: LBRT) is a leading energy services company. Liberty is one of the largest providers of completion services and technologies to onshore oil, natural gas, and enhanced geothermal energy producers in North America. Liberty also owns and operates Liberty Power Innovations LLC, providing advanced distributed power and energy storage solutions for the commercial and industrial, data center, energy, and mining industries. Liberty was founded in 2011 with a relentless focus on value creation through a culture of innovation and excellence and the development of next generation technology. Liberty is headquartered in Denver, Colorado. For more information, please visit www.libertyenergy.com and www.libertypowerinnovations.com, or contact Investor Relations at IR@libertyenergy.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20251029295923/en/

Michael Stock
Chief Financial Officer

Anjali Voria, CFA
Vice President of Investor Relations
303-515-2851

IR@libertyenergy.com

Source: Liberty Energy Inc.

The post Liberty Energy Inc. Announces Dual Listing on NYSE Texas appeared first on Liberty Energy.

Summary Results and Highlights

• Revenue of $947 million, a 9% sequential decrease
• Net income of $43 million, or $0.26 fully diluted earnings per share (“EPS”)
• Adjusted EBITDA¹ of $128 million
• Distributed $13 million to shareholders through cash dividends
• Increased quarterly cash dividend by 13% to $0.09 per share beginning fourth quarter of 2025
• Achieved quarterly record pumping efficiency and tons of sand sold from Liberty mines
• Launched Forge, Liberty’s large language model for intelligent asset orchestration
• Total power generation capacity increasing to over one gigawatt expected to be delivered through 2027
• Appointed Alice Yake (Jackson) to the Board of Directors, bringing decades of experience in energy infrastructure and power generation

“Liberty achieved revenue of $947 million and Adjusted EBITDA of $128 million in the third quarter, despite a slowdown in industry completions activity and market pricing pressure. Our team delivered solid operational results, once again delivering the highest combined average daily pumping efficiency and safety performance in Liberty’s history,” commented Ron Gusek, Chief Executive Officer. “The team remains committed to driving outstanding results for our customers while navigating current market challenges. While we anticipate market headwinds to persist in the near term, we are well positioned to capitalize on opportunities when conditions improve. Our leadership in technology innovation and service quality delivers differential results, strengthening long-term relationships and reinforcing our competitive position through cycles.”

“Our digiPrime fleets are achieving outstanding performance and leading efficiency metrics across the company. Several fleets deployed with our largest customers broke new records for pumping hours, horsepower hours, and proppant volumes pumped during the quarter. Additionally, our team’s uniquely engineered digiPrime pumps are realizing measurable cost improvements relative to conventional technologies. Early indications show total maintenance costs savings are greater than 30% on digiPrime pumps,” continued Mr. Gusek. “Across our fleet, we are also driving meaningful efficiencies for our customers with our AI-driven automated and intelligent rate and pressure control software, StimCommander. Fleet automation is driving a 65% improvement in the time to deliver the desired fluid injection rate and a 5% to 10% improvement in hydraulic efficiency. Our cloud-based large language model, Forge, further empowers StimCommander with intelligent asset orchestration through continuous AI optimization.”

“Liberty’s power opportunities continue to strengthen as sophisticated electricity consumers seeking dynamic, flexible solutions are recognizing the value of having an advantaged energy partner that provides a solution aligned with their specific needs. Liberty is in close engagement with potential customers with large, highly transient power demand that will benefit from rapid deployment schedules with high reliability power solutions at grid competitive prices,” continued Mr. Gusek. “Liberty customers will have a key partner that offers a fully integrated energy solution spanning on-site power, fuel management, and the option for grid integration and attributes.”

“We are confident in the growth trajectory of our power business and are expanding our power deliveries in anticipation of customer conversions from our expansive pipeline of opportunities. We are in the process of securing additional power generation, bringing our total capacity to over one gigawatt to be delivered through 2027, and we expect further increases will be necessary to meet the growing demand for our services,” continued Mr. Gusek.

“Our strategic investments are targeted at accelerating the growth of our power business and advancing completion technologies that reinforce our competitive edge,” commented Mr. Gusek. “Earlier this week, we raised our quarterly cash dividend by 13% to reflect confidence in our future and a continued commitment to delivering long-term value to shareholders.”

Outlook

Industry frac activity has now fallen below levels required to sustain North American oil production. Oil producers, which comprise a vast majority of North American frac activity, opted to moderate completions against a backdrop of macroeconomic uncertainty and after exceeding production targets during the first half of the year. Slowing trends in oil markets have more than offset increased demand for natural gas fleet activity where long-term fundamentals remain encouraging in support of LNG export capacity expansion and rising power consumption.

Moderation in activity anticipated in the near term is transitory in nature. Global oil oversupply is expected to peak during the first half of 2026. Many shale oil producers are targeting relatively flat oil production, requiring modest activity improvement in the coming year from current levels, and long-term gas demand and related completions activity continue to be on a favorable trajectory. Together, these factors set the backdrop for improving frac fundamentals later in 2026, assuming commodity futures prices remain supportive.

Lower industry activity and underutilized fleets in today’s frac markets are driving pricing pressure, primarily for conventional fleets. This slowdown is accelerating equipment attrition and fleet cannibalization, setting the stage for a more constructive supply and demand balance of industry frac fleets in the future. An improvement in frac activity coupled with tightening frac capacity would support better pricing dynamics.

The outlook for higher quality, next generation fleets remains strong, as operators continue to demand next generation fleets that provide significant fuel savings, emissions benefits, and operational efficiencies. Liberty’s digiTechnologies platform continues to see significant demand and more favorable economics through cycles, and leverages our total service platform with scale advantages, integrated services, and robust digital technologies.

“Although industry frac activity has declined since early 2023, the Liberty team has consistently outperformed markets by staying relentlessly focused on customer success and alignment of shared priorities. During the third quarter, we further strengthened our simulfrac offering with the reallocation of horsepower for long-term partners,” commented Mr. Gusek. “We remain focused on expanding competitive advantages through cycles, allowing us to navigate softer anticipated conditions in the months ahead while remaining well-positioned to react swiftly when demand for frac services rises.”

“Structural demand for power continues to strengthen, as evidenced by large-scale, long duration power commitments across the industry. AI compute load represents a meaningful long-term growth opportunity, and broader electrification trends and industrial reshoring efforts are also driving incremental, steady base load demand. At the same time, the grid is facing mounting reliability and capacity challenges driven by increased intermittent generation and a lack of investment in transmission infrastructure,” continued Mr. Gusek. “Liberty’s on-site power solutions are fully customizable power plants that provide consumers with reliability and clarity around power costs, serving as a strategic hedge against potentially significant increases in grid power prices. We are excited by the momentum we are seeing in power opportunities and are well positioned to deliver an unparalleled offering in the years ahead.”

Cash Dividend

During the quarter ended September 30, 2025, the Company paid a quarterly cash dividend of $0.08 per share of Class A common stock, or approximately $13 million in aggregate to shareholders.

On October 14, 2025, the Board declared a cash dividend of $0.09 per share of Class A common stock, to be paid on December 18, 2025 to holders of record as of December 4, 2025.

Future declarations of quarterly cash dividends are subject to approval by the Board of Directors and to the Board’s continuing determination that the declarations of dividends are in the best interests of Liberty and its stockholders. Future dividends may be adjusted at the Board’s discretion based on market conditions and capital availability.

Third Quarter Results

For the third quarter of 2025, revenue was $947 million, a decrease of 17% from $1.1 billion in the third quarter of 2024 and a decrease of 9% from $1.0 billion in the second quarter of 2025.

Net income (after taxes) totaled $43 million for the third quarter of 2025 compared to $74 million in the third quarter of 2024 and $71 million in the second quarter of 2025.

Adjusted Net (Loss) Income² totaled ($10 million) for the third quarter of 2025 compared to $76 million in the third quarter of 2024 and $20 million in the second quarter of 2025.

Adjusted EBITDA¹ of $128 million for the third quarter of 2025 decreased 48% from $248 million in the third quarter of 2024 and decreased 29% from $181 million in the second quarter of 2025.

Fully diluted earnings per share of $0.26 for the third quarter of 2025 compared to $0.44 for the third quarter of 2024 and $0.43 for the second quarter of 2025.

Adjusted Net (Loss) Income per Diluted Share² of $(0.06) for the third quarter of 2025 compared to $0.45 for the third quarter of 2024 and $0.12 for the second quarter of 2025.

Please refer to the tables at the end of this earnings release for a reconciliation of Adjusted EBITDA, Adjusted Net (Loss) Income, and Adjusted Net (Loss) Income per Diluted Share (each, a non-GAAP financial measure) to the most directly comparable GAAP financial measures.

Balance Sheet and Liquidity

As of September 30, 2025, Liberty had cash on hand of $13 million and total debt of $253 million, drawn on the secured asset-based revolving credit facility. Total liquidity, including availability under the credit facility, was $146 million as of September 30, 2025.

In July 2025, Liberty expanded its credit facility to provide for a $225 million increase in aggregate commitments to $750 million, subject to borrowing base limitations.

Conference Call

Liberty will host a conference call to discuss the results at 8:30 a.m. Mountain Time (10:30 a.m. Eastern Time) on Friday, October 17, 2025. Presenting Liberty’s results will be Ron Gusek, President and Chief Executive Officer, and Michael Stock, Chief Financial Officer.

Individuals wishing to participate in the conference call should dial (833) 255-2827, or for international callers, (412) 902-6704. Participants should ask to join the Liberty Energy call. A live webcast will be available at http://investors.libertyenergy.com. The webcast can be accessed for 90 days following the call. A telephone replay will be available shortly after the call and can be accessed by dialing (877) 344-7529, or for international callers (412) 317-0088. The passcode for the replay is 6314706. The replay will be available until October 24, 2025.

About Liberty

Liberty Energy Inc. (NYSE: LBRT) is a leading energy services company. Liberty is one of the largest providers of completion services and technologies to onshore oil, natural gas, and enhanced geothermal energy producers in North America. Liberty also owns and operates Liberty Power Innovations LLC, providing advanced distributed power and energy storage solutions for the commercial and industrial, data center, energy, and mining industries. Liberty was founded in 2011 with a relentless focus on value creation through a culture of innovation and excellence and the development of next generation technology. Liberty is headquartered in Denver, Colorado. For more information, please visit www.libertyenergy.com and www.libertypowerinnovations.com, or contact Investor Relations at IR@libertyenergy.com.

View the full press release on Liberty’s investor site.

The post Third Quarter 2025 Financial and Operational Results appeared first on Liberty Energy.

Summary Results and Highlights

• Revenue of $1.0 billion, a 7% sequential increase
• Net income of $71 million, or $0.43 fully diluted earnings per share (“EPS”)
• Adjusted EBITDA¹ of $181 million, an 8% sequential increase
• Delivered 7% TTM Adjusted Pre-Tax Return on Capital Employed (“ROCE”)²
• Distributed $13 million to shareholders through cash dividends
• Commenced field testing of Liberty’s latest digiPrime technology using a natural gas variable speed engine
• Completed Liberty’s PropX slurry pipe system field trial for enhanced last-mile delivery of sand
• Announced strategic collaborations to supply integrated power solutions for potential data center and industrial developments in Pennsylvania and Colorado
• Announced strategic alliance with Oklo to provide integrated utility scale power solutions for data centers
• Expanded ABL facility to $750 million from $525 million to support strategic growth in power generation

“Liberty delivered an exceptional second quarter amidst increased macroeconomic uncertainty and energy sector volatility. Revenue and Adjusted EBITDA¹ increased 7% and 8% sequentially, respectively, against an industry backdrop of softening completions activity. This strong performance is a direct reflection of the outstanding contributions of our team, safely driving record efficiencies and increased utilization that more than offset industry pricing headwinds,” commented Ron Gusek, Chief Executive Officer. “We are leveraging our full suite of completion services, including frac, wireline, sand, logistics, fueling services and top tier engineering and diagnostic tools, to drive increased engagement with our customers.”

“We are excited to bolster our technology leadership with rapid progress on our cutting-edge digiPrime enhancement with the industry’s first variable speed natural gas reciprocating engine. Our successful development and field testing during the second quarter reflect our commitment to continued innovation in high efficiency, low emission technologies,” continued Mr. Gusek. “We also completed the successful field trial of the industry’s first last-mile sand slurry system. By transporting sand slurry via pipe, our system is expected to reduce costs, improve delivery reliability, and decrease dust, emissions and road maintenance for our customers.”

“Growing power demand from data centers and industrial users necessitates a collaborative approach to address power service requirements that increasingly surpass the traditional utility offering. During the second quarter, we announced two strategic alliances for the development of power facilities. In Pennsylvania, we are collaborating with Range Resources and Imperial Land Corporation to provide power services at a strategically located industrial park tailored for scalable development with advantaged access to Marcellus natural gas. In Colorado, our strategic alliance with AltitudeX Aviation Group will support a proposed development at the Colorado Air & Space Port powered by a Liberty microgrid,” continued Mr. Gusek. “These partnerships address the barriers that commercial and industrial developers face, including access to suitable land, integrated power management solutions, and reliable fuel supply. Together, we offer a turnkey solution that combines on-site generation, market integration, and infrastructure readiness to meet the evolving needs of high demand users.”

“Our recently announced collaboration with Oklo represents an exciting path towards delivering integrated, next generation power solutions for sophisticated large load customers. This comprehensive approach combines the speed to market of Liberty’s Forte℠ distributed natural gas power and high-performance load management solution to meet immediate demand, with a path to integrate grid power management and baseload small modular nuclear reactors,” continued Mr. Gusek. “As energy systems evolve, our blended solution provides long-term, reliable power that utilizes breakthrough technology and energy management solutions.”

“As we look ahead, the strategic investment we have made in completions through cycles enhances our ability to support customers in an evolving landscape. We are leveraging our integrated suite of completion services, cutting-edge technologies, industry leading partnerships and the dedication of our exceptional team to navigate market uncertainties. Within our power business, LPI delivers a robustly engineered, end-to-end energy solution uniquely integrating on-site generation and load management, ISO market participation, and advantaged retail supply, creating a comprehensive, flexible approach that redefines reliability and cost efficiency in deregulated regions,” continued Mr. Gusek. “We’re excited by LPI’s future growth and its ability to contribute to our track record of delivering superior long-term returns, while balancing disciplined investment with a strong balance sheet through cycles.”

Outlook

While oil markets continue to evolve in response to dynamic global economic and geopolitical developments, North American production has remained relatively stable. As the world’s largest supplier of oil and natural gas, U.S. producers continue to play a vital role in delivering reliable energy to global markets, supporting domestic industrial activity and power demand, and providing strategic leverage in the geopolitical landscape.

Recent events, ranging from shifting tariff policies to rising regional hostilities and mixed economic signals affecting global oil demand, have not yet driven a meaningful North American production response. Larger, well-capitalized producers with strong balance sheets and highly efficient operations enjoy healthy well economics, enabling them to weather commodity price volatility. Intra-quarter price fluctuations created hedging opportunities, further tempering supply side reactions.

Producers are targeting a relatively flat production profile, sustaining a baseline of frac activity to offset the natural decline of producing wells. Completions activity is anticipated to gradually slow during the second half of the year, reflecting disciplined capital deployment and contributing to market pricing pressure on services. This slowdown in activity is expected to accelerate equipment cannibalization and attrition, which fundamentally improves the supply and demand dynamics within the services industry over the cycle.

Today’s larger producers require a technically superior service offering to meet the rising demand for efficiencies and engineering support that few service companies are positioned to deliver. Liberty’s unmatched portfolio breadth, integrated services, and technical innovation uniquely enable us to deliver greater value to our customers and drive outperformance.

“Amidst market pressures and near-term reductions in customer activity, we are planning to modestly reduce our deployed fleet count and reposition this horsepower to support our expanded simulfrac offering for long-term partners,” continued Mr. Gusek. “We have created a unique competitive position that allows us to stay agile in dynamic markets while maintaining strong long-term advantages, underpinned by our scale, technology leadership, vertical integration and a fortress-like balance sheet. We are excited by the road ahead and our emerging growth opportunities.”

Cash Dividend

During the quarter ended June 30, 2025, the Company paid a quarterly cash dividend of $0.08 per share of Class A common stock, or approximately $13 million in aggregate to shareholders.

On July 15, 2025, the Board declared a cash dividend of $0.08 per share of Class A common stock, to be paid on September 18, 2025 to holders of record as of September 4, 2025.

Future declarations of quarterly cash dividends are subject to approval by the Board of Directors and to the Board’s continuing determination that the declarations of dividends are in the best interests of Liberty and its stockholders. Future dividends may be adjusted at the Board’s discretion based on market conditions and capital availability.

Second Quarter Results

For the second quarter of 2025, revenue was $1.0 billion, a decrease of 10% from $1.2 billion in the second quarter of 2024 and an increase of 7% from $977 million in the first quarter of 2025.

Net income (after taxes) totaled $71 million for the second quarter of 2025 compared to $108 million in the second quarter of 2024 and $20 million in the first quarter of 2025.

Adjusted Net Income³ (after taxes) totaled $20 million for the second quarter of 2025 compared to $103 million in the second quarter of 2024 and $7 million in the first quarter of 2025.

Adjusted EBITDA¹ of $181 million for the second quarter of 2025 decreased 34% from $273 million in the second quarter of 2024 and increased 8% from $168 million in the first quarter of 2025.

Fully diluted earnings per share of $0.43 for the second quarter of 2025 compared to $0.64 for the second quarter of 2024 and $0.12 for the first quarter of 2025.

Adjusted Net Income per Diluted Share³ of $0.12 for the second quarter of 2025 compared to $0.61 for the second quarter of 2024 and $0.04 for the first quarter of 2025.

Please refer to the tables at the end of this earnings release for a reconciliation of Adjusted EBITDA, Adjusted Net Income, and Adjusted Net Income per Diluted Share (each, a non-GAAP financial measure) to the most directly comparable GAAP financial measures.

Balance Sheet and Liquidity

As of June 30, 2025, Liberty had cash on hand of $20 million and total debt of $160 million, drawn on the secured asset-based revolving credit facility. Total liquidity, including availability under the credit facility, was $276 million as of June 30, 2025.

In July 2025, Liberty expanded its credit facility to provide for a $225 million increase in aggregate commitments to $750 million, subject to borrowing base limitations.

Conference Call

Liberty will host a conference call to discuss the results at 8:00 a.m. Mountain Time (10:00 a.m. Eastern Time) on Friday, July 25, 2025. Presenting Liberty’s results will be Ron Gusek, Chief Executive Officer, and Michael Stock, Chief Financial Officer.

Individuals wishing to participate in the conference call should dial (833) 255-2827, or for international callers, (412) 902-6704. Participants should ask to join the Liberty Energy call. A live webcast will be available at http://investors.libertyenergy.com. The webcast can be accessed for 90 days following the call. A telephone replay will be available shortly after the call and can be accessed by dialing (877) 344-7529, or for international callers (412) 317-0088. The passcode for the replay is 7843160. The replay will be available until August 1, 2025.

About Liberty

Liberty Energy Inc. (NYSE: LBRT) is a leading energy services company. Liberty is one of the largest providers of completion services and technologies to onshore oil, natural gas, and enhanced geothermal energy producers in North America. Liberty also owns and operates Liberty Power Innovations LLC, providing advanced distributed power and energy storage solutions for the commercial and industrial, data center, energy, and mining industries. Liberty was founded in 2011 with a relentless focus on value creation through a culture of innovation and excellence and the development of next generation technology. Liberty is headquartered in Denver, Colorado. For more information, please visit www.libertyenergy.com and www.libertypowerinnovations.com, or contact Investor Relations at IR@libertyenergy.com.

View the full press release on Liberty’s investor site.

The post Second Quarter 2025 Financial and Operational Results appeared first on Liberty Energy.

Santa Clara, Calif. & Denver, Colo. – Oklo Inc. (NYSE: OKLO) (“Oklo”), an advanced nuclear technology company, and Liberty Energy Inc. (NYSE: LBRT) (“Liberty”), a leader in innovative energy services and technologies, launched a strategic alliance to accelerate integrated power solutions for large-scale, high-demand customers, including data centers, industrial facilities, and utility-scale sites.

Together, the companies will offer an integrated deployment strategy that meets immediate power demand with natural gas generation and variable load management solutions, while providing a clear path toward zero-carbon baseload power with Oklo’s advanced nuclear powerhouses.

Liberty’s Forte℠ natural gas power generation and load management solution will provide initial reliable primary power and flexible energy services, along with future grid management services focused on optimization and resiliency. As Oklo’s Aurora powerhouses come online, they will be integrated to provide clean, continuous baseload energy, complementing Liberty’s natural gas power. 

This alliance will deliver a comprehensive, turnkey managed power solution to the companies’ customers, providing immediate, uninterrupted power while supporting a path to integrating next-generation energy infrastructure.

“Our strategic alliance with Oklo advances a power strategy aimed at accelerating deployment for sophisticated, large load customers. This innovative approach redefines how today’s most energy-intensive industries can scale efficiently with cost-effective, next-generation power solutions, combining rapid deployment, intelligent load management, and integrated grid management,” said Ron Gusek, Chief Executive Officer of Liberty. “We are excited to offer developers unmatched speed to market, price stability, and a future-ready energy platform.” 

Liberty Energy was an early investor in Oklo, committing $10 million in 2023. After evaluating companies and technologies across the advanced nuclear space, Liberty identified Oklo’s innovative business model, small and scalable design, and differentiated technology as an important strategic solution to meet the growing power demands of large-scale energy users.

“This collaboration gives large-scale power users a turnkey alternative that integrates generation, backup, grid interaction, and optimization, all through a single provider,” said Jacob DeWitte, Co-Founder and CEO of Oklo. “We’re delivering a next-generation approach to energy that gives customers the ability to scale power with confidence and offers a clear path to zero-carbon energy.”

About Oklo Inc. 

Oklo Inc. is developing fast fission power plants to deliver clean, reliable, and affordable energy at scale, establishing a domestic supply chain for critical radioisotopes, and advancing nuclear fuel recycling to convert nuclear waste into clean energy. Oklo was the first to receive a site use permit from the U.S. Department of Energy for a commercial advanced fission plant, was awarded fuel from Idaho National Laboratory, and submitted the first custom combined license application for an advanced reactor to the U.S. Nuclear Regulatory Commission. Oklo is also developing advanced fuel recycling technologies in collaboration with the U.S. Department of Energy and national laboratories.

Forward-Looking Statements

This press release includes statements that express Oklo’s opinions, expectations, objectives, beliefs, plans, intentions, strategies, assumptions, forecasts or projections regarding future events or future results and therefore are, or may be deemed to be, “forward-looking statements.” The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” or, in each case, their negative or other variations or comparable terminology, and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include all matters that are not historical facts. They appear in a number of places throughout this press release and include statements regarding our intentions, beliefs or current expectations concerning, among other things, the benefits of the DOE’s Voucher Program, results of operations, financial condition, liquidity, prospects, growth, strategies and the markets in which Oklo operates. Such forward-looking statements are based on information available as of the date of this press release, and current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties.

As a result of a number of known and unknown risks and uncertainties, the actual results or performance of Oklo may be materially different from those expressed or implied by these forward-looking statements. The following important risk factors could affect Oklo’s future results and cause those results or other outcomes to differ materially from those expressed or implied in the forward-looking statements: risks related to the deployment of Oklo’spowerhouses; the risk that Oklo is pursuing an emerging market, with no commercial project operating, regulatory uncertainties; the potential need for financing to construct plants, market, financial, political and legal conditions; the effects of competition; the risk that the DOE’s Voucher Program fails to produce the expected benefits; changes in applicable laws or regulations; and the outcome of any government and regulatory proceedings and investigations and inquiries.

The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties of the other documents filed by Oklo from time to time with the U.S. Securities and Exchange Commission. The forward-looking statements contained in this press release and in any document incorporated by reference are based on current expectations and beliefs concerning future developments and their potential effects on Oklo. There can be no assurance that future developments affecting Oklo will be those that Oklo has anticipated. Oklo undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

Source: Oklo Inc.

About Liberty

Liberty Energy Inc. (NYSE: LBRT) is a leading energy services company. Liberty is one of the largest providers of completion services and technologies to onshore oil, natural gas, and enhanced geothermal energy producers in North America. Liberty also owns and operates Liberty Power Innovations LLC, providing advanced distributed power and energy storage solutions for the commercial and industrial, data center, energy, and mining industries. Liberty was founded in 2011 with a relentless focus on value creation through a culture of innovation and excellence and the development of next generation technology. Liberty is headquartered in Denver, Colorado. For more information, please visit www.libertyenergy.com and www.libertypowerinnovations.com, or contact Investor Relations at IR@libertyenergy.com.

Forward-Looking and Cautionary Statements

The information above includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included herein are forward-looking statements. These forward-looking statements are identified by their use of terms and phrases such as “may,” “expect,” “estimate,” “outlook,” “project,” “plan,” “position,” “believe,” “intend,” “achievable,” “forecast,” “assume,” “anticipate,” “will,” “continue,” “potential,” “likely,” “should,” “could,” and similar terms and phrases. However, the absence of these words does not mean that the statements are not forward-looking. Although we believe that the expectations reflected in these forward-looking statements are reasonable, they do involve certain assumptions, risks and uncertainties. These forward-looking statements represent our current expectations or beliefs concerning future events, and it is possible that the results described in this release will not be achieved. These forward-looking statements are subject to certain risks, uncertainties and assumptions identified above or as disclosed from time to time in Liberty’s filings with the Securities and Exchange Commission. As a result of these factors, many of which are beyond our control, actual results may differ materially from those indicated or implied by such forward-looking statements.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, we do not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Oklo Contacts:

Liberty Energy Contacts:

The post Oklo and Liberty Energy Launch Next-Generation Integrated Power Solution appeared first on Liberty Energy.

The proposed power facility would be developed by Liberty using a state-of-the-art, modular, scalable, low-emission power generation system fueled by natural gas. The project would initially deliver 45 MW of electric power, with the capacity to scale in line with future development and additional demand. The proposed facility would provide resilient, on-site power generation, ensuring reliable energy access essential to supporting continued growth and innovation at CASP.

AltitudeX and Adams County are currently operating under a pre-development agreement, executed in February 2025, to conduct critical studies, secure tenant commitments, refine a comprehensive business plan, and ultimately finalize negotiations for a master development agreement.

“We’re proud to partner with AltitudeX as they look to expand operations at the Colorado Air and Space Port. Our advanced microgrid technology can deliver the critical energy infrastructure necessary to advance aerospace innovation.  With our ability to rapidly deploy scalable power solutions, we’re ready to meet the growing demand for low-emission energy as the project expands,” said Ron Gusek, Chief Executive Officer of Liberty.

Jon Roitman, Chief Executive Officer of AltitudeX, remarked, “We’re excited to collaborate with Liberty Energy and Adams County to establish key energy infrastructure at the Colorado Air and Space Port. This partnership accelerates CASP’s potential to ensure a solid foundation for future expansion and growth.”

CASP boasts an exceptional location for aviation, aerospace, and intermodal innovation. It is strategically located in the Denver metropolitan area, with proximity to Denver International Airport and I-70, offering an expansive property of 3,400 acres, including 960 acres ready for development. Its aviation infrastructure includes two 8,000-ft runways and a new FAA tower. The alliance with Liberty will further bolster the development potential at this location, ensuring quick access to reliable power for future tenants.

About Liberty Energy

Liberty Energy Inc. is a leading energy services company. Liberty is one of the largest providers of completion services and technologies to onshore oil, natural gas, and enhanced geothermal energy producers in North America. Liberty also owns and operates Liberty Power Innovations LLC, providing advanced distributed power and energy storage solutions for the commercial and industrial, data center, energy, and mining industries. Liberty was founded in 2011 with a relentless focus on value creation through a culture of innovation and excellence and the development of next generation technology. Liberty is headquartered in Denver, Colorado. For more information, please visit www.libertyenergy.com and www.libertypowerinnovations.com.

About AltitudeX Aviation Group

AltitudeX Aviation Group, headquartered in Denver, Colorado, is a premier private firm dedicated to infrastructure and private equity investments in the aviation and aerospace sectors. Led by a team of former aviation and aerospace executives with over 150 years of collective expertise in operations, finance, and technology, AltitudeX excels at efficiently growing and managing global and complex operations. AltitudeX is committed to being the collaborative partner of choice for infrastructure development and sponsor arrangements within middle-market private equity. For more information, please visit www.altxaviation.com.

About Adams County

With rich traditions and history, Adams County offers the best of suburban and rural life – vibrant cities, quiet towns, and miles of recreation. Located in the Denver metro area, Adams County is the state’s fifth-largest county serving a population of more than 527,000 residents. Adams County is home to the cities of Brighton, Commerce City, Federal Heights, Northglenn, and Thornton; portions of Arvada, Aurora, and Westminster; the town of Bennett; and a portion of the town of Lochbuie. Unincorporated communities include Henderson, Strasburg, and Watkins. Stay up to date on the latest county news and information on adcogov.org, Facebook, X, Nextdoor, and Instagram.

Forward-Looking and Cautionary Statements

The information above includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included herein are forward-looking statements. These forward-looking statements are identified by their use of terms and phrases such as “may,” “expect,” “estimate,” “outlook,” “project,” “plan,” “position,” “believe,” “intend,” “achievable,” “forecast,” “assume,” “anticipate,” “will,” “continue,” “potential,” “likely,” “should,” “could,” and similar terms and phrases. However, the absence of these words does not mean that the statements are not forward-looking. Although we believe that the expectations reflected in these forward-looking statements are reasonable, they do involve certain assumptions, risks and uncertainties. These forward-looking statements represent our current expectations or beliefs concerning future events, and it is possible that the results described in this release will not be achieved. These forward-looking statements are subject to certain risks, uncertainties and assumptions identified above or as disclosed from time to time in Liberty’s filings with the Securities and Exchange Commission. As a result of these factors, many of which are beyond our control, actual results may differ materially from those indicated or implied by such forward-looking statements.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, we do not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Contacts:

Media@libertyenergy.com

Garrett.Clemons@altxaviation.com

NKimbleton@adcogov.org

The post Liberty Energy and AltitudeX Aviation Group Collaborate on Microgrid Development in Adams County, Colorado appeared first on Liberty Energy.

Summary Results and Highlights

• Revenue of $977 million, a 4% sequential increase
• Net income of $20 million, or $0.12 fully diluted earnings per share (“EPS”)
• Adjusted EBITDA¹ of $168 million, an 8% sequential increase
• Achieved 12% TTM Adjusted Pre-Tax Return on Capital Employed (“ROCE”)²
• Distributed $37 million to shareholders through share repurchases and cash dividends
• Repurchased and retired 1.0% of shares outstanding during the first quarter, and a cumulative 15.9% of shares outstanding since reinstating the repurchase program in July 2022
• Expanded LPI’s distributed power systems offering with the acquisition of IMG Energy Solutions (“IMG”)
• Successfully tested the latest digiPrime technology advancement, the industry’s first natural gas variable speed pump
• Established new benchmark in critical equipment component longevity utilizing our AI-driven predictive maintenance systems, reducing total cost of asset ownership

“Liberty delivered a solid first quarter, with revenue of $977 million and Adjusted EBITDA of $168 million, and distributed $37 million to shareholders through opportunistic share repurchases and dividends. We saw strong sequential improvement in utilization across our fleet, reached new heights in operational efficiencies and safety performance, and set a new high watermark in asset lifespan for equipment components,” commented Ron Gusek, Chief Executive Officer. “Our early year results demonstrate a positive rebound from the fourth quarter of 2024, a trend that has continued into the second quarter.”

“In recent months, tariff announcements and a more aggressive OPEC+ production strategy have sent ripples across the energy sector. Today, we have excess demand for Liberty services as our customers align themselves with top-tier providers in a clear industry ‘flight to quality,’” continued Mr. Gusek. “While North American producers have not yet meaningfully changed development plans, we expect our customers to assess a range of scenarios in anticipation of commodity price pressure, and we are staying close to our partners in this dynamic market.”

“Liberty’s differentiation is the engine of our success through both prosperous and challenging times. Our strategy of delivering strong long-term returns with a unique culture, deep customer relationships, and superior performance consistently drives differential demand for Liberty fleets,” continued Mr. Gusek. “Today, we are better positioned than ever to navigate market uncertainties, with greater scale, vertical integration, technological advancements, and a fortress balance sheet. Prior cycles have proved the resilience of our strategy, of leading the industry with discipline while strategically enhancing our competitive edge. We will adhere to our principles and continue to build enduring advantages in today’s rapidly evolving market.”

Outlook

As global oil markets contend with tariff impacts, geopolitical tensions, and oil supply concerns, North American producers are evaluating a range of macroeconomic scenarios. The recent pause on tariffs has momentarily eased pressure on the global economy, and in turn, global oil demand concerns. However, markets remain focused on supply side dynamics, including the evolving OPEC+ production strategy and potential constraints on Iranian, Russian, and Venezuelan oil exports. Natural gas fundamentals are more favorable on rising LNG export capacity demand in support of global energy security.

While the current tumult in commodity prices is not immediately driving changes in North American activity, we expect oil producers are evaluating a range of scenarios in anticipation of oil price pressure. Concurrently, gas producers could prove to be beneficiaries of potentially lower associated gas production in oily basins.

In contrast to prior oil and gas cycles, recent years have seen steadier activity in both higher and lower commodity price environments. Larger, well-capitalized producers, that comprise a larger portion of shale production today, are better able to withstand a broader range of commodity prices, while smaller producers are more sensitive to commodity prices. Since the pandemic-driven downturn, the energy sector has seen significant consolidation as well as a strong focus on capital discipline and balance sheet strength, and most producers have targeted flat to modest production growth. Today’s frac activity simply supports maintenance of current oil production levels, mitigating the possibility of steep declines experienced by the service industry in past cycles. While macroeconomic risk could lead to lower oil production in North America, the industry is operating from a higher base of production today than prior cycles, implying a decline in service activity would likely be less pronounced than in the past.

Liberty’s differential service platform is stronger today than at any point in the last 14 years. Our unmatched scale, integrated services, robust supply chain, and advanced technology systems uniquely enable us to deliver more value, lowering the total cost to produce a barrel of oil. Fleet modernization with advanced sensors, real-time data capture, and enhanced data visualization tools, is driving tangible benefits and improving decision-making, allowing our teams and customers to respond faster and more effectively in a dynamic market. We are also working closely with our customers to bring innovative engineering and designs to their completion strategies. This integrated, high-performance model reinforces our position as the service provider of choice in a competitive market.

“We started the year with positive momentum and are currently anticipating sequential growth in revenue and profitability in the second quarter from higher utilization. Amidst market uncertainties we are working closely with our customers and suppliers to deliver superior services and drive greater efficiencies that could help partially offset tariff-related impacts. We expect our strong balance sheet will allow us to navigate any potential slowdown while executing on our long-term strategic plan,” commented Mr. Gusek. “We are also actively assessing the implications of tariffs across our business and have already begun mitigation efforts.”

“Strategic investment has allowed us to develop new markets and lead technology innovation and operational efficiency in the industry. Growing power demand from data centers, manufacturing, mining, and industrial electrification is enabling us to expand our power services beyond the oilfield. The acquisition of IMG, a leader in distributed power systems, opportunistically augments LPI with power plant EPC management and PJM utility market expertise. We are excited by the opportunity ahead to expand in these key growth areas,” continued Mr. Gusek.

Share Repurchase Program

During the quarter ended March 31, 2025, Liberty repurchased and retired 1,546,138 shares of Class A common stock at an average of $15.50 per share, representing 1.0% of shares outstanding, for approximately $24 million.

Liberty has cumulatively repurchased and retired 15.9% of shares outstanding at program commencement on July 25, 2022. Total remaining authorization for future common share repurchases is approximately $270 million.

The shares may be repurchased from time to time in open market transactions, through block trades, in privately negotiated transactions, through derivative transactions or by other means in accordance with federal securities laws. The timing, as well as the number and value of shares repurchased under the program, will be determined by the Company at its discretion and will depend on a variety of factors, including management’s assessment of the intrinsic value of the Company’s common stock, the market price of the Company’s common stock, general market and economic conditions, available liquidity, compliance with the Company’s debt and other agreements, applicable legal requirements, and other considerations. The exact number of shares to be repurchased by the Company is not guaranteed, and the program may be suspended, modified, or discontinued at any time without prior notice. The Company expects to fund the repurchases by using cash on hand, borrowings under its revolving credit facility and expected free cash flow to be generated through the authorization period.

Cash Dividend

During the quarter ended March 31, 2025, the Company paid a quarterly cash dividend of $0.08 per share of Class A common stock, or approximately $13 million in aggregate to shareholders.

On April 15, 2025, the Board declared a cash dividend of $0.08 per share of Class A common stock, to be paid on June 20, 2025 to holders of record as of June 6, 2025.

Future declarations of quarterly cash dividends are subject to approval by the Board of Directors and to the Board’s continuing determination that the declarations of dividends are in the best interests of Liberty and its stockholders. Future dividends may be adjusted at the Board’s discretion based on market conditions and capital availability.

First Quarter Results

For the first quarter of 2025, revenue was $977 million, compared to $1.1 billion in the first quarter of 2024 and $944 million in the fourth quarter of 2024.

Net income (after taxes) totaled $20 million for the first quarter of 2025 compared to $82 million in the first quarter of 2024 and $52 million in the fourth quarter of 2024.

Adjusted Net Income³ (after taxes) totaled $7 million for the first quarter of 2025 compared to $82 million in the first quarter of 2024 and $17 million in the fourth quarter of 2024.

Adjusted EBITDA¹ of $168 million for the first quarter of 2025 decreased 31% from $245 million in the first quarter of 2024 and increased 8% from $156 million in the fourth quarter of 2024. Please refer to the reconciliation of Adjusted EBITDA (a non-GAAP measure) to net income (a GAAP measure) in this earnings release.

Fully diluted earnings per share was $0.12 for the first quarter of 2025 compared to $0.48 for the first quarter of 2024 and $0.31 for the fourth quarter of 2024.

Adjusted Net Income per Diluted Share³ of $0.04 for the first quarter of 2025 compared to $0.48 for the first quarter of 2024 and $0.10 for the fourth quarter of 2024.

Please refer to the tables at the end of this earnings release for a reconciliation of Adjusted EBITDA, Adjusted Net Income, and Adjusted Net Income per Diluted Share (each, a non-GAAP financial measure) to the most directly comparable GAAP financial measures.

Balance Sheet and Liquidity

As of March 31, 2025, Liberty had cash on hand of $24 million, an increase from fourth quarter levels, and total debt of $210 million drawn on the secured asset-based revolving credit facility (“ABL Facility”) a $20 million increase from fourth quarter. Total liquidity, including availability under the credit facility, was $164 million as of March 31, 2025.

Conference Call

Liberty will host a conference call to discuss the results at 8:00 a.m. Mountain Time (10:00 a.m. Eastern Time) on Thursday, April 17, 2025. Presenting Liberty’s results will be Ron Gusek, Chief Executive Officer, and Michael Stock, Chief Financial Officer.

Individuals wishing to participate in the conference call should dial (833) 255-2827, or for international callers, (412) 902-6704. Participants should ask to join the Liberty Energy call. A live webcast will be available at http://investors.libertyenergy.com. The webcast can be accessed for 90 days following the call. A telephone replay will be available shortly after the call and can be accessed by dialing (877) 344-7529, or for international callers (412) 317-0088. The passcode for the replay is 6508118. The replay will be available until April 24, 2025.

About Liberty

Liberty Energy Inc. (NYSE: LBRT) is a leading energy services company. Liberty is one of the largest providers of completion services and technologies to onshore oil, natural gas, and enhanced geothermal energy producers in North America. Liberty also owns and operates Liberty Power Innovations LLC, providing advanced distributed power and energy storage solutions for the commercial and industrial, data center, energy, and mining industries. Liberty was founded in 2011 with a relentless focus on value creation through a culture of innovation and excellence and the development of next generation technology. Liberty is headquartered in Denver, Colorado. For more information, please visit www.libertyenergy.com and www.libertypowerinnovations.com, or contact Investor Relations at IR@libertyenergy.com.

View the full press release on Liberty’s investor site

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The strategic collaboration between Liberty, ILC, and Range will focus on a dedicated power generation facility tailored to meet the energy demands of data centers, industrial facilities, and other high-energy-use businesses in Pennsylvania. This initiative, which is being advanced by companies with proven experience in the region, aligns with Pennsylvania’s commitment to fostering innovation and investment in the energy sector.  

The proposed power facility is expected to serve as a catalyst for attracting data centers and industrial operations seeking long-term, reliable, efficient energy solutions, utilizing modular, scalable, lower emissions power generation systems and Marcellus natural gas, which has an advantaged emissions profile versus other basins in the U.S.  

“Liberty is revolutionizing how industries meet their energy needs with our ability to rapidly deploy reliable, scalable distributed power solutions.  Our approach combines low-emissions power generation and technology with industry-leading service and support, all strategically located at a site with abundant natural gas resources,” said Ron Gusek, President and CEO of Liberty Energy.  “As the demand for power intensifies, our innovative approach empowers clients to confidently expand their operations without compromising on efficiency or reliability.  We’re proud to be setting a new standard in energy deployment through this collaboration.” 

“This collaboration represents an exciting opportunity to foster industrial growth in the region while leveraging Pennsylvania’s vast natural resources for innovative, reliable, energy solutions,” said Brian Temple, President at Imperial Land Corporation. “By working with Liberty and Range we are positioning the Fort Cherry Development District as a prime location for future industrial demand growth. This initiative is a testament to the region’s potential as an energy, technology and data center hub.” 

Alan Engberg, Range’s VP Marketing & Midstream commented: “Range is excited to power this growing wave of technology and manufacturing opportunities. With our vast Marcellus inventory, Range is well-positioned to meet the environmental and reliability standards and decades-long supply requirements of a data center client. This initiative with Imperial Land and Liberty provides an attractive site for a scalable data center or large industrial tenant by virtue of being ideally situated adjacent to the heart of Range’s existing natural gas production, in close proximity to the Ohio River, the City of Pittsburgh and a newly renovated international airport.”  

“The collaboration among Liberty, ILC, and Range exemplifies a unified effort to address Pennsylvania’s evolving energy needs by leveraging our region’s readily available natural gas while promoting stable, long-term industrial development and economic growth,” said Stefani Pashman, CEO of the Allegheny Conference on Community Development. “This strategic development will help to attract data centers and industrial operations to our region, bringing with it economic impacts for years to come.”   

About Liberty Energy 

Liberty Energy Inc. is a leading energy services company. Liberty is one of the largest providers of completion services and technologies to onshore oil, natural gas, and enhanced geothermal energy producers in North America. Liberty also owns and operates Liberty Power Innovations LLC, providing advanced distributed power and energy storage solutions for the commercial and industrial, data center, energy, and mining industries. Liberty was founded in 2011 with a relentless focus on value creation through a culture of innovation and excellence and the development of next generation technology. Liberty is headquartered in Denver, Colorado. For more information, please visit www.libertyenergy.com and www.libertypowerinnovations.com. 

About Imperial Land Corporation 

Imperial Land Corporation (ILC) is a privately held company, established in 1973 with its principal business being real estate development, primarily in Southwestern Pennsylvania.   At present, ILC owns over 5,000 acres of land in Allegheny and Washington Counties situated in Southwestern Pennsylvania. Imperial’s developments are now home to companies including Amazon, Gordon Food Service, General Electric, Niagara Bottling, Home Depot and other top U.S. and International companies. For more information, please visit www.imperialland.com.  

About Range Resources  

Range Resources – Appalachia, LLC is a subsidiary of Range Resources Corporation, a leading U.S. independent natural gas and NGL producer with operations focused in the Appalachian Basin. As a leading natural gas producer and the pioneer of the Marcellus Shale, we are proud of our long legacy of delivering energy solutions and value to our partners and shareholders. More information about Range can be found at www.rangeresources.com. 

About Fort Cherry Development District 

The Fort Cherry Development District is an industrial park, strategically located in Washington County, that offers prime opportunities for businesses requiring scalable energy solutions. The development district offers development sites in Washington County that are easily accessible to landmarks including Pittsburgh International Airport, Southpointe, the Shell Cracker Plant, Interstate 79 and other major roadways in the tri-state region.  The development district is also an approved Local Economic Revitalization Tax Assistance District (LERTA) that provides tax incentives on future development.  At full buildout, the development will consist of an estimated 6,000,000 square feet of industrial, distribution, logistics and flex space that is projected to generate over $650,000,000 in private investment.  For more information, please visit www.imperialland.com.    

Forward-Looking and Cautionary Statements 

The information above includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included herein are forward-looking statements. These forward-looking statements are identified by their use of terms and phrases such as “may,” “expect,” “estimate,” “outlook,” “project,” “plan,” “position,” “believe,” “intend,” “achievable,” “forecast,” “assume,” “anticipate,” “will,” “continue,” “potential,” “likely,” “should,” “could,” and similar terms and phrases. However, the absence of these words does not mean that the statements are not forward-looking. Although we believe that the expectations reflected in these forward-looking statements are reasonable, they do involve certain assumptions, risks and uncertainties. These forward-looking statements represent our current expectations or beliefs concerning future events, and it is possible that the results described in this release will not be achieved. These forward-looking statements are subject to certain risks, uncertainties and assumptions identified above or as disclosed from time to time in Liberty’s filings with the Securities and Exchange Commission. As a result of these factors, many of which are beyond our control, actual results may differ materially from those indicated or implied by such forward-looking statements. 

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, we do not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. 

Contact: Media@libertyenergy.com 

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