Schlumberger Limited SLB has completed the deal with smaller rival, Liberty Oilfield Services Inc. LBRT, to contribute its onshore hydraulic fracturing business in the United States and Canada, known as OneStim. Schlumberger combined pressure pumping, pump-down perforating and Permian frac sand businesses with Liberty's operations. The move is expected to create one of the biggest pressure-pumping firms in North America. Schlumberger has received a 37% stake in the combined entity, per the deal that was closed on the last day of 2020. Volatile oil price and the coronavirus pandemic have significantly affected upstream companies, which in turn impacted their spending decisions. Conservative spending by clients denotes limited contracts for oilfield services providers. The volatile environment has pushed several energy companies to look for alternative options like restructuring, consolidations, acquisitions and others.