Liberty Hears Siren Call to Expand CNG, RNG Use in Oilfields

SEATTLE (Oil Monster): North American oilfield services (OFS) giant Liberty Oilfield Services LLC has landed a Permian Basin-focused natural gas compression specialist, whose addition is set to expand a newly created alternative fuel and power solutions business.

Denver-based Liberty said it paid about $78 million for Houston-based Siren Energy. Siren adds 16 MMcf/d of natural gas compression, along with two expandable sites in the Permian. Siren provides compressed natural gas (CNG), renewable natural gas (RNG) and hydrogen services. 

To add heft to the purchase, newly created Liberty Power Innovations (LPI) initially is expanding its CNG services for field gas processing and treating, along with well site fueling and logistics. 

“As we lead this technology transition, owning power generation and now the natural gas fuel supply for our fleets ensures execution at the highest level,” CEO Chris Wright said. “LPI adds another critical component to our vertical integration strategy, alongside Liberty’s sand, logistics, design and manufacturing capabilities.”

The new business arm “exemplifies our strategy of investing for the future with high rate of return opportunities,” Wright said. “As we look ahead, our mobile power generation technology with industry-leading thermal efficiency and integrated fueling and logistics provides exciting opportunities beyond the oilfield.”

Courtesy: www.naturalgasintel.com