Liberty announced the commercial launch of Liberty Power Innovations (LPI), an integrated alternative fuel and power solutions provider for remote applications. LPI’s initial focus is on compressed natural gas (CNG) supply, field gas processing and treating, and well site fueling and logistics. The oilfield is undergoing a generational technology shift in fuel use from diesel to clean burning natural gas, with Liberty at the forefront of this change. Liberty’s suite of digiTechnologies utilize natural gas to remotely generate electricity and power next generation digiFleet services. Dependable access to fuel is critical to maintaining highly efficient well site operations that drive Liberty’s industry-leading returns. LPI will supply this fuel to Liberty and the rest of the industry.
CNG and treated field gas are currently in limited supply. LPI deployed its inaugural field gas treating services for a key Haynesville customer in support of a Liberty frac fleet. To accelerate LPI’s expansion, Liberty announced the acquisition of Siren Energy (Siren), a Permian focused integrated natural gas compression and CNG delivery business. Siren brings 16 MMcf per day of natural gas compression capacity at two expandable Permian sites and transportation, logistics, and pressure reduction services. Siren currently delivers fuel to customers in both the drilling and completions markets, and its logistics system is designed to deliver CNG, RNG or hydrogen to remote locations. Liberty acquired Siren for an aggregate cash purchase price of $78 million, subject to normal closing adjustments.
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Liberty was an early driver in the industry shift from diesel to natural gas technologies, deploying our first dual fuel fleet 10 years ago. Liberty’s digiTechnologies, including mobile power generation, state-of-the-art digiFrac electric fleets, and the industry’s first hybrid pump, digiPrime, build on a track record of innovation. LPI bolsters Liberty’s technology transition by vertically integrating fueling and power services.
“Liberty’s digiTechnologies bring the highest thermal efficiency and lowest emissions solutions to the market. 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,” said Chris Wright, Chief Executive Officer. “LPI adds another critical component to our vertical integration strategy, alongside Liberty’s sand, logistics, design and manufacturing capabilities.”
SOURCE: Businesswire