Liberty Oilfield Services entered into two new debt facilities consisting of a $175 million, five-year term loan and a $250 million asset-based revolving credit facility subject to a borrowing base.

Upon closing, $55 million was drawn on the new ABL, positioning Liberty with more than $100 million of available liquidity. The new debt facilities were used to retire the company’s prior debt facilities and will provide liquidity to fund future growth and operations.

Chris Wright, CEO of Liberty, said, “Completion of the new debt facilities on attractive terms provides Liberty with the financial flexibility to execute on our disciplined organic growth strategy, and to further invest in the latest technological innovations, from custom fluid systems and integrated completion analysis techniques to next-generation equipment developments across the Liberty fleet. We continue to be driven by our relentless focus on improving our customer’s well productivity.”

Houlihan Lokey Capital and Wells Fargo Securities served as lead placement agents on the new term loan and new ABL financings, respectively.

Liberty is an independent provider of hydraulic fracturing services to onshore oil and natural gas exploration and production companies in North America.