Opportune LLP Supports Liberty Oilfield Services In Its Acquisition Of Schlumberger’s North American Pressure Pumping Business
Opportune LLP recently supported Liberty Oilfield Services Inc. in its financial due diligence efforts leading to the agreement for Schlumberger’s contribution of its hydraulic fracturing business in the U.S. and Canada, including its pressure pumping, pumpdown perforating, and Permian frac sand businesses, to Liberty in exchange for a 37% equity interest in the combined company. Opportune continues to provide related technical financial reporting, valuation and purchase price allocation services to Liberty.
The transaction is expected to close in the fourth quarter of 2020 and is subject to Liberty stockholder approval, regulatory approvals and other customary closing conditions. Following the closing of the transaction, Liberty will offer one of the most innovative suites of completion services and technologies to operators in onshore North America.
Opportune’s due diligence and technical financial reporting services are led by Partner Josh Sherman, Managing Director Jim Allen and Director Kurt Downing, while its valuation and purchase price allocation services are led by Partner Dean Price, Director Kevin Cannon and Senior Consultant Alan Huynh.