CALGARY, AB, March 16, 2023 /CNW/ – Calfrac Well Services Ltd. (“Calfrac” or “the Company”) (TSX: CFW) announces its financial and operating results for the three and twelve months ended December 31, 2022. The following press release should be read in conjunction with the management’s discussion and analysis and audited consolidated annual financial statements and notes thereto as at December 31, 2022. Readers should also refer to the “Forward-looking statements” legal advisory and the section regarding “Non-GAAP Measures” at the end of this press release. All financial amounts and measures are expressed in Canadian dollars unless otherwise … Continue Reading

CALGARY, AB, Feb. 9, 2023 /CNW/ – Calfrac Well Services Ltd. (“Calfrac”) (TSX: CFW) intends to release its fourth quarter and year-end 2022 results before the market opens on Thursday, March 16, 2023, and has scheduled a conference call and webcast to begin at 10:00 A.M. MT (12:00 P.M. ET) on the same day. If you wish to participate in the conference call, please call (888) 664-6383 or (416) 764-8650 prior to the start of the call and ask for the Calfrac Well Services Ltd. conference call. Calfrac’s management team will be available to answer questions … Continue Reading

CALGARY, AB, Dec. 22, 2022 /CNW/ – Calfrac Well Services Ltd. (“Calfrac” or “the Company”) (TSX: CFW) is pleased to announce that the Company has initiated a multi-year fracturing fleet modernization plan for its North American operations, which commences with the conversion of 50 Tier II pumping units into Tier IV dual-fuel capable dynamic gas blending (“DGB”) pumping units. A Tier IV DGB engine displaces diesel in fracturing operations by increasing the use of natural gas and represents one of the cleanest pressure pumping options currently available in the market.

This fleet modernization plan serves to meet the expanding … Continue Reading

CALGARY, AB, Dec. 22, 2022  /CNW/ – Calfrac Well Services Ltd. (“Calfrac” or “the Company”) (TSX: CFW) is pleased to announce the completion of the conversion incentive program announced November 22, 2022 (the “Program”) in respect of its 10.0% 1.5 Lien Senior Secured Convertible PIK Notes due 2023 (the “Notes”). Approximately $44.8 million principal amount of Notes were converted under the Program. As a result of the Program, the Company:

CALGARY, AB, Nov. 22, 2022 /CNW/ – Calfrac Well Services Ltd. (“Calfrac” or “the Company”) (TSX: CFW) is pleased to announce a conversion incentive program (the “Program”) designed to encourage the early conversion of up to all of the $47,440,000 principal amount of outstanding 10.0% 1.5 Lien Senior Secured Convertible PIK Notes issued by the Company (the “Notes”). The Notes are currently convertible into common shares of the Company (“Common Shares”) at a conversion price of $1.3325 per Common Share.  The closing price of the Common Shares on the Toronto Stock Exchange on November 21, 2022, was $7.15… Continue Reading

CALGARY, AB, Nov. 2, 2022 /CNW/ – Calfrac Well Services Ltd. (“Calfrac” or “the Company”) (TSX: CFW) announces its financial and operating results for the three and nine months ended September 30, 2022. The following press release should be read in conjunction with the management’s discussion and analysis and unaudited consolidated interim financial statements and notes thereto as at September 30, 2022. Readers should also refer to the “Forward-looking statements” legal advisory and the section regarding “Non-GAAP Measures” at the end of this press release. All financial amounts and measures are expressed in Canadian dollars unless otherwise … Continue Reading

CALGARY, AB, Sept. 29, 2022 /CNW/ – Calfrac Well Services Ltd. (“Calfrac” or “the Company”) (TSX: CFW) is pleased to announce that it has entered into an amended and restated credit agreement with its syndicate of Canadian financial institutions which includes an extension of the maturity date of the Company’s $250.0 million Credit Facilities by one-year to July 1, 2024.

Calfrac’s Chief Financial Officer, Mike Olinek, commented: “We are pleased to report a 12-month extension to the Credit Facilities with the Company’s lending syndicate. As Calfrac expects its operations in the United States, Canada, and … Continue Reading

CALGARY, AB, Sept. 28, 2022 /CNW/ – Calfrac Well Services Ltd. (“Calfrac”) (TSX: CFW) intends to release its Third Quarter 2022 results before markets open on Wednesday, November 2, 2022, and has scheduled a conference call and webcast to begin at 10:00 A.M. MT (12:00 P.M. ET) on the same day. If you wish to participate in the conference call, please call (888) 664-6383 or (416) 764-8650 prior to the start of the call and ask for the Calfrac Well Services Ltd. conference call. Calfrac’s management team will be available to answer questions on the call. … Continue Reading

CALGARY, AB, Sept. 13, 2022 /CNW/ – Calfrac Well Services Ltd. (“Calfrac” or “the Company”) (TSX: CFW) is pleased to provide an operational and financial update for the third quarter of 2022 for its continuing operations in the United States, Canada, and Argentina.

Since the end of the second quarter, the Company has experienced improved utilization throughout all service lines in North America and Argentina. Coupled with net price increases, Calfrac anticipates third-quarter revenue and Adjusted EBITDA to deliver significant year-over-year growth.

The Company continues to … Continue Reading

CALGARY, AB, July 28, 2022 /CNW/ – Calfrac Well Services Ltd. (“Calfrac” or “the Company”) (TSX: CFW) announces its financial and operating results for the three and six months ended June 30, 2022.

HIGHLIGHTS – CONTINUING OPERATIONS

Three months ended Jun. 30, 

Six months ended Jun. 30, 

2022

2021

Change

2022

2021

Change

(C$000s, except per share amounts)

($)

($)

( %)

($)

($)

( %)

(unaudited)

Revised

Revised

Revenue

318,511

173,769

83

613,035

387,723

58

Operating income(1)

36,550

756

NM

57,579

12,220

NM

   Per share – basic

0.95

0.02

NM

1.50

0.33

NM

   Per share – diluted… Continue Reading

CALGARY, AB, June 28, 2022 /CNW/ – Calfrac Well Services Ltd. (“Calfrac” or the “Company“) (TSX: CFW) announces the repayment and cancellation yesterday of the Company’s $25.0 million 8.00% secured bridge loan (the “Bridge Loan“) from G2S2 Capital Inc., a company controlled by George Armoyan, a director of Calfrac. The Company had drawn $15.0 million under this loan facility prior to its repayment.

The Bridge Loan was executed during the first quarter of 2022 in order to fund the Company’s short-term working capital requirements as the pressure pumping services market significantly improved in North America.

Mike Olinek… Continue Reading

CALGARY, AB, June 24, 2022 /CNW/ – Calfrac Well Services Ltd. (“Calfrac”) (TSX: CFW) intends to release its Second Quarter 2022 results before markets open on Thursday, July 28, 2022, and has scheduled a conference call and webcast to begin at 10:00 A.M. MT (12:00 P.M. ET) on the same day. If you wish to participate in the conference call, please call (800) 458-4148 or (647) 484-0477 prior to the start of the call and ask for the Calfrac Well Services Ltd. conference call. Calfrac’s management team will be available to answer questions on the call. … Continue Reading