Liberty Oilfield Posts Quarterly Loss as Oil Rout Hurts Service Demand

SEATTLE (Oil Monster): Liberty Oilfield Services posted a quarterly loss on Tuesday compared with a year-ago profit, as demand for its fracking services dropped due to a coronavirus-led crash in crude prices.

The Denver-based company’s net loss attributable to shareholders stood at $34.5 million, or 41 cents per share, in the third quarter ended Sept. 30, compared with a profit of $11 million, or 15 cents per share, a year earlier. 

Courtesy: www.reuters.com