Fracking Company Founded by US Energy Chief Sees Shale Slowdown

Liberty Energy Inc., the oil services company founded by US Energy Secretary Chris Wright, is gearing up for a slowdown in shale drilling in the second half of the year.

Chief Executive Officer Ron Gusek, who took took the helm at Liberty when Wright was confirmed to President Donald Trump’s cabinet earlier this year, gave his latest view Thursday at the Super DUG Conference & Expo in Texas.

“I’m certainly not in the camp of a 100-rig-count reduction,” Gusek told attendees at the conference. “Maybe it’s in the 30 to 40 range. That ultimately translates into ...