Tuesday, 28 October 2014 06:30 AM
Houston, TX / ACCESSWIRE / October 28, 2014 / Liberty Energy Corp. ('LBYE' or 'the Company') announces today the funding of a farm-in agreement with Delta S Energy LLC to make improvements to four (4) of the Company's existing wells and upgrade infrastructure assets on their Baylor County leases. As part of the agreement, Delta S Energy LLC was granted the first right option "… to purchase all or part of the available working interests in the first 3 new drills to be spud on the leases for the period ending 12/31/14…"
Robert C. Rhodes, Delta S Energy LLC representative commented on this initial Liberty Energy Corp. project, "We invest in 'base hits' like purchasing a fractional working interest in wells with production history, and Liberty Energy Corp.'s leases provide us a great playing field. We funded Delta S Energy LLC with the expectation of partnering with companies like LBYE to leverage our experience with public companies and expect future opportunities with LBYE like our initial agreement."
"We like the investment by Delta S Energy LLC into our Baylor County leases as it represents an independent endorsement of our production with upside corporate mandate. These capital improvements will increase production and improve infrastructure. This meets both short and long term objectives of the Company" stated CEO, Arthur Roy.
ABOUT LIBERTY
Liberty Energy Corp. (LBYE) is an independent oil & gas company dedicated to sourcing, exploring, developing and producing U.S. onshore oil and gas reserves. Headquartered in Houston, Texas, the Company has acquired several leases with extensive potential for future development. Further information at: http://www.LibertyEnergyCorp.com or email [email protected]
About Delta S Energy LLC
Delta S Energy LLC is a recently funded organization that invests in oil & gas projects with low risk profiles and return on investment time horizons of less than twelve (12) months. Delta S Energy LLC is a sister organization to Rhodes Holdings LLC, which provides strategic consulting for public companies. Further information on Rhodes Holdings LLC is provided at http://RhodesHoldings.wordpress.com.
Safe Harbor Statement
Certain statements in this press release are forward-looking and involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Liberty Energy Corp. bases these forward-looking statements on current expectations and projections about future events, based on information currently available. The forward-looking statements contained in this press release may also include statements relating to Liberty Energy Corp.'s anticipated financial performance, business prospects, new developments, strategies and similar matters. Liberty Energy Corp. disclaims any obligation to update any of its forward-looking statements, except as may be required by law. Please read our full disclaimer at http://www.libertyenergycorp.com/contact/disclaimer/.
Contact
Rita Karpel, Investor Relations
Liberty Energy Corp.
[email protected]
832-663-2688 (Phone) 832-459-7335
Robert C. Rhodes
Delta S Energy LLC
[email protected]
281-435-3917 (Phone)
SOURCE: Liberty Energy Corp.