Calfrac Well Services Ltd. announced that it has entered into an agreement with its lenders which amends and extends its credit facilities (the ‘Credit Facilities’). The principal amendments to the Credit Facilities include, among others, the following items: an extension of the maturity date from June 1, 2022 to July 1, 2023; a voluntary reduction in the Credit Facilities from $290.0 million to $225.0 million, with the syndicated facility being reduced from $259.1 million to $180.0 million and the operating facility being increased from $30.1 million to $45.0 million. Such reductions are anticipated to continue to provide Calfrac with a strong liquidity position and will also result in lower stand-by fees; and the addition of a $25.0 million accordion feature.