Liberty Oilfield services Inc Class
LBRT
Energy
1
exclusion reason
1 theme
This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
Liberty Energy is one of the largest hydraulic fracturing service providers in North America, operating approximately 40 active frac fleets as of December 2025. The company provides completions services including hydraulic fracturing, wireline, proppant delivery, field gas processing, and compressed natural gas delivery to oil and gas producers primarily in the Permian Basin, DJ Basin, and Rocky Mountain region. Per company filings, trailing twelve-month revenue as of September 2025 was approximately US$3.91 billion. Liberty also operates two sand mines in the Permian Basin to supply its fracturing operations. Virtually all revenue is derived from enabling fossil fuel extraction.
Research Sources
2 organizations
Related Exclusions
Wondering what we do invest in?
The Naughty List
A digest of changes to our exclusion list — new additions, removals, and the evidence behind them. We review the list continuously as new evidence surfaces.
Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.
Ethical Capital LLC is a state-registered investment adviser in Utah (CRD #316032). Registration does not imply a certain level of skill or training.