I've never been out in temps that cold long enough to know...I doubt it freezes as it says it's ingredients include Kerosene...what I've found that it's outstanding for is shooting long range sessions in low humidity, dry weather conditions.

Being a liquid lube, the patches are more dampthana Natural Lube 1000 patch, and even in super dry conditions I can still shoot the entire range session without wiping between shots...amazing stuff, and at the steal I got it for, it's doubly fantastic