Denver-based Liberty Oilfield Services Inc. has completed its takeover of Schlumberger Ltd.’s OneStim, the massive U.S. and Canada onshore hydraulic fracturing business, in exchange for 37% equity.

The transaction, completed on the final day of 2020, moved Liberty into the top tier of onshore completions experts. OneStim provides expanded opportunities in pressure pumping, pump down perforating and Permian Basin fracture sand. 

With the purchase, Liberty controls an estimated 2.5 million high hp (hhp) for completions, with 1.25 million hhp available for service and 1 million hhp in maintenance support. Liberty also plans to permanently retire 1 million hhp from the market.

Liberty, said CEO Chris Wright, “has laid the foundation for a new era of technology and...