HOUSTON, Dec. 19, 2013 /PRNewswire/ -- Liberty Energy
Corp. (OTCQB: LBYE) ("Liberty" or "the Company") an independent oil
and gas company targeting onshore Texas oil conventional plays with a current
focus on the Fort Worth Basin,
today announced that the Company has executed terms to acquire a
drilling rig capable of drilling to depths of 3,000 feet.
"The outlook for 2014 has greatly improved now that we have paid
off all convertible debt, filed all our most recent financial
statements and executed terms on the first producing acquisition
and drilling rig. We look forward to aggressively furthering our
acquisition and development mandates in the new year," stated CEO
Arthur Roy.
Liberty intends to expand its fleet of oilfield service
equipment including this drilling rig and related equipment in
order to accelerate our development programs. This fully
operational rig will allow us to reduce the cost of the in fill
drilling programs we have planned for the leases we are targeting.
The Schramm Model T685 Truck Mounted Rig will be acquired with
restricted stock and will add a good asset to our balance sheet
with no increase in debt.
Subsequent agreements and related disclosures will be filed
through SEC filings and posted to Liberty's corporate website and
blog. http://www.libertyenergycorp.com/blog
ABOUT LIBERTY: Liberty Energy Corp. (OTCQB:LBYE) is an
Independent Oil and Gas Exploration and Production Company
dedicated to the sourcing and production of oil and gas onshore
Texas. Headquartered in
Houston, Texas, the company has
acquired several leases with extensive potential for future
development.
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.
Contact:
Arthur Roy, CEO
Email: IR@LibertyEnergyCorp.com
Liberty Energy Corp.
2425 Fountain View Drive
Suite 300
Houston Texas 77057
Phone: 1-832-649-2652
Fax: 1-832-575-1051
Email: Info@LibertyEnergyCorp.com
Website: http://LibertyEnergyCorp.com
Twitter: https://twitter.com/LibertyEnergyCo
Facebook: http://facebook.com/LibertyEnergyCorp
SOURCE Liberty Energy Corp.