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    CFW   CA1295844056

CALFRAC WELL SERVICES LTD.

(CFW)
  Report
Delayed Toronto Stock Exchange  -  04:00:00 2023-02-03 pm EST
6.120 CAD   +2.00%
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Calfrac Well Services : Canada's Calfrac rejects Wilks Brothers proposals to buy U.S. business

07/14/2020 | 09:07am EST

Calfrac Well Services said on Tuesday it had rejected two proposals submitted by share and debt holder Wilks Brothers to buy the Canadian oilfield services firm's U.S. business in exchange for some of the company's debt.

Calfrac Well Services said on Tuesday it had rejected two proposals submitted by share and debt holder Wilks Brothers to buy the Canadian oilfield services firm's U.S. business in exchange for some of the company's debt.

Calfrac said the two non-binding proposals submitted last month "significantly undervalued" the unit and would leave its first-lien senior creditors with less than one-third of the collateral they currently hold, with no debt reduction.

Last month, the Canadian company said it would work with advisors to examine its options as its market value had collapsed and it deferred an interest payment on debt that does not mature for six years.

The company, which had a net debt of C$987.4 million ($725.34 million) as of March 31, said on Tuesday that it agreed with some debtholders to restructure some of its debt and issue some new shares.

Wilks Brothers LLC holds about 19.78% of Calfrac's shares and more than 50% of its second-lien notes, and also owns ProFrac Services Ltd, a competitor of Calfrac in the U.S.

(Reporting by Arunima Kumar in Bengaluru; Editing by Amy Caren Daniel)


ę Reuters 2020
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Analyst Recommendations on CALFRAC WELL SERVICES LTD.
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Financials
Sales 2022 1 503 M 1 123 M 1 123 M
Net income 2022 50,5 M 37,7 M 37,7 M
Net Debt 2022 339 M 253 M 253 M
P/E ratio 2022 10,3x
Yield 2022 -
Capitalization 494 M 369 M 369 M
EV / Sales 2022 0,55x
EV / Sales 2023 0,35x
Nbr of Employees 2 684
Free-Float 35,4%
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Technical analysis trends CALFRAC WELL SERVICES LTD.
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 6
Last Close Price 6,12 CAD
Average target price 11,33 CAD
Spread / Average Target 85,2%
EPS Revisions
Managers and Directors
Patrick G. Powell Chief Executive Officer & Director
Michael D. Olinek Chief Financial Officer
Ronald P. Mathison Chairman
James Michael Brown Vice President-Technology
Douglas R. Ramsay Vice Chairman
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