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Tuesday, October 28, 2014 9:41:14 AM
Oct 28, 2014 (ACCESSWIRE via COMTEX) -- 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.
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