Liberty Energy Inc (NYSE: LBRT) is an energy services and technology company that provides completion services and related technologies to onshore oil, natural gas, and enhanced recovery well operators in North America. Revenue is generated on a transactional basis by deploying hydraulic fracturing fleets and associated completion equipment to exploration and production customers. The company describes itself as one of the largest providers of completion services in the onshore North American market, as stated in its 10-K filed February 2, 2026. Beyond core completions, Liberty Energy is expanding into distributed power and energy storage solutions targeting data centers, industrial facilities, and utility-scale sites, a business line that was nascent as of the filing date. The company holds investments in Nomad Proppant Services LLC, Oklo Inc., and Tamboran Resources Corporation, as disclosed on its FY2025 balance sheet. Liberty Energy has an active share repurchase program with cumulative authorization raised to $750.0 million, extended through July 31, 2026.

Revenue model

Transactional service revenue earned by deploying hydraulic fracturing and completion equipment to onshore oil and gas operators. Revenue is recognized as services are performed, with a related-party revenue component disclosed separately on the income statement.

Products and services

Hydraulic fracturing and completions services; related completion technologies; distributed power and energy storage solutions (nascent, as of 10-K filed 2026-02-02); investments in Nomad Proppant Services LLC, Oklo Inc., and Tamboran Resources Corporation.

Customers and end markets

Onshore oil, natural gas, and enhanced recovery well operators in North America. Secondary end markets in development include data centers, industrial facilities, and utility-scale power sites, disclosed as a proposed diversification in the 10-K filed 2026-02-02.

Value-chain role

Oilfield services provider operating downstream of drilling and upstream of production. Supplies hydraulic fracturing fleets and completion technology directly to exploration and production companies. Expanding into distributed power supply for large-scale energy consumers.

Geographic exposure

Onshore North America, with horizontal rigs accounting for approximately 87% of all rigs drilling in the United States and Canada as of January 23, 2026 (Baker Hughes data cited in filing).

Source: SEC 10-K, filed 2026-02-02

Industry: Oil & Gas Field Services, NEC Peers: ChampionX Corp Baker Hughes Co Cactus Inc NEXTIER OILFIELD SOLUTIONS INC. Nov Inc ProFrac Holding Corp RPC Inc SLB NV USA Compression Partners LP Weatherford International PLC