Liberty Energy Corp. reported executing a Letter of Intent to acquire new acreage in Texas.
The Company has also signed a memorandum of understanding to acquire an estimated 1,040 acres in Bastrop, Caldwell and Eastland Counties. The Company intends to conduct further geological and geophysical surveys to complete the plan of development for this project.
"We are extremely excited to announce this letter of intent and intend on providing further information on geological and geophysical work to be carried out once we have completed our due diligence process. These new prospects strengthen our commitment to secure Texan assets and ties in with our growth program of continued investment in onshore projects that grow shareholder value," Commented Ian Spowart, CEO of Liberty Energy Corp.