Schlumberger to Contribute North American Pressure Pumping Business to Liberty
Vinson & Elkins advised Liberty Oilfield Services Inc. (Liberty) in an agreement for the contribution of Schlumberger’s onshore hydraulic fracturing business in the United States and Canada (OneStim®), including its pressure pumping, pumpdown perforating and Permian frac sand businesses, to Liberty in exchange for a 37% equity interest in the combined company.
The combined company will deliver best-in-class completion services for the sustainable development of unconventional resource plays in the United States and Canada land markets.
The V&E corporate team was led by partners David Oelman and Steve Gill and senior associate Crosby Scofield, with assistance from associates Yong Eoh, Jordan Fossee, Matt Fiorillo and Natalie Stanley. Also advising were partner Lina Dimachkieh, senior associate Brian Russell and associate Miron Klimkowski; partner Devika Kornbacher and senior associate Sean Hill; partner Sean Becker, counsel Chris Bacon and senior associate Alex Bluebond; partner Brian Bloom, senior associate Missy Spohn and associate Mary Daniel Morgan; counsel Larry Pechacek and associate Audrey Elise Doane; partner Hill Wellford and counsel David Smith; and partner Randy Jurgensmeyer and senior associate Julie Monier.
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