EnerCom interview with Liberty Energy CEO Ron Gusek at EnerCom Denver 2025

Yeah, thanks Jim. It's great to be here. Fantastic conference so far. Pretty exciting in our world these days. Of course, we've got the core oil field services business, frack and wireline, doing as well as could be expected given the macro conditions we're dealing with, but that's okay. This too shall pass. But more exciting for us right now is taking the expertise and knowledge we've built up in power generation as we've been working on that transition to next generation frack equipment, and expanding that capability into a power business. You've heard all the news about data centers and the massive demand that's out there and the inability of the grid to get there. We've had some policy decisions of late that I think have hampered grid growth, and we're in a position to take advantage of that. Looking forward to that power business. And then, as you mentioned, a bit of a step overseas. We've got our first frack fleet in Australia now and did our first work a little earlier this year. I made a trip there in May to meet some of the folks over in Australia. Excited about what our future holds there.

I think there are a few aspects to that. To your point, a lot of what we do has been tied to our core business of frack. As we added stuff to the vertical, they're generally related to that. In power, we have a few different opportunities. We have the chance to work with some of our E&P customers who are looking to electrify their acreage, maybe their artificial lift production facilities, possibly their frack operations. So there are some power generation opportunities inside our business along with our current partners today. But then if you take a step back outside of that, we're looking to onshore critical mineral mining again. Remote mining opportunities are exciting, commercial and industrial opportunities where people want backup power or are looking to build some manufacturing capacity but just can't get the grid there yet. And of course AI is the big thing. We've heard the administration, in fact our Secretary of Energy, call that our next Manhattan Project, something that we cannot afford to lose as a country. We see an opportunity there to participate, to take our energy platform and broaden it to support this race for AI supremacy. Excited to be alongside some great tech partners in that piece of the world.

Yeah, they're pretty excited to have some North American expertise over there. H&P went in advance of us with a next generation drilling rig. We're following on with the frack equipment. Their world had been mostly conventional completions, vertical wells, very traditional frack operations. This is a newer world for them, the unconventional, so they wanted to leverage North American expertise. We're excited to be a partner in that. The Beetaloo Basin has massive opportunity. Millions of acres of undeveloped natural gas potential that only has maybe a dozen wells in it today. So we're pretty early days on that, but excited to see that one grow and grow, and we're excited to be a partner in that for the long run.

Definitely.

Yeah, appreciate that question, and you're absolutely right. We launched the foundation start of last year, so we've been on the ground there a year. Really exciting opportunity for us in that there are still about two billion people on the face of the earth who cook over a fire, don't have access to a gas stove, electric stove, or whatever the case might be. We have a real opportunity to change people's lives literally overnight when they can transition from cooking over a smoky fire. I love a campfire for cooking marshmallows, but that is no way to live life. We're working hard to transition a million households and a thousand schools by 2030 over to an LPG cook stove, and quite literally in that time frame, game-changing. Now, we're not doing that with a handout. We're working alongside entrepreneurs there. We're providing them with access to low-cost capital so they can scale their businesses and build a meaningful future for these people, enabling that transition for these families who are working so hard to find a path out of energy poverty. We've got a lot of work in front of us. We put a new board in place this year to really take that to the next level, and I'm excited about what the next five years hold there.

Thanks very much.