Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Calfrac Well Services Ltd.    CFW   CA1295841086

CALFRAC WELL SERVICES LTD.

(CFW)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsAnalyst Recommendations

Wilks Brothers raises hostile offer for oilfield firm Calfrac

10/05/2020 | 08:48am EST

Oct 5 (Reuters) - Calfrac Well Services Ltd investor Wilks Brothers LLC on Monday raised its hostile bid for the oilfield services company to as much as 25 Canadian cents per share from a prior 18 Canadian cents.

Calfrac last month rejected the prior offer and said it was sweetening its recapitalization plan to reduce debt, at a time when its market value has shrunk to about C$22.5 million since the crash in fuel demand caused by the COVID-19 pandemic.

Calfrac declined to comment on the sweetened offer.

Its shares rose 3 cents to 18.5 cents in morning trading.

Wilks Brothers, led by oil billionaires Dan and Farris Wilks, has been acquiring stakes in hard-hit services firms in the United States and has been trying to buy Calfrac's U.S. business since July. The company owns nearly 20% of Calfrac.

The investor group on Monday said its new offer would go up to 25 Canadian cents per share, provided the total deal amount does not exceed $21.1 million.

Under the Calfrac management offer, shareholders can choose to either take 15 Canadian cents in cash for each share held and two warrants or can hold on to their shares and take just the warrants.

A special meeting of Calfrac shareholders to vote on either offer is scheduled for October 16.

Calfrac remains in default of $431.8 million to senior unsecured noteholders. (Reporting by Shariq Khan in Bengaluru; Editing by Ramakrishnan M. and David Gregorio)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
CALFRAC WELL SERVICES LTD. -13.64% 0.285 Delayed Quote.-73.60%
LONDON BRENT OIL 2.41% 48.26 Delayed Quote.-27.74%
WTI 2.88% 45.415 Delayed Quote.-26.33%
All news about CALFRAC WELL SERVICES LTD.
06:01aCALFRAC WELL SERVICES : Obtains U.S. Recognition and Enforcement of Final CBCA O..
AQ
11/27CALFRAC WELL SERVICES : says appeal court rejects Wilks Brothers attempt to bloc..
AQ
11/27CALFRAC WELL SERVICES : Wilks' Brothers Final Order Appeal Dismissed
AQ
11/25CALFRAC WELL SERVICES : Appeal of Final Order Approving Calfrac's Recapitalizati..
AQ
11/12CALFRAC WELL SERVICES : cuts capital spending plan, reports $50M Q3 loss
AQ
11/12CALFRAC WELL SERVICES : Announces Third Quarter Results and Reduced Capital Budg..
AQ
11/02CALFRAC WELL SERVICES : Obtains Final Order Approving the Amended Recapitalizati..
AQ
10/29CALFRAC WELL SERVICES : Application for Approval of Recapitalization Transaction..
AQ
10/16CALFRAC WELL SERVICES : Shareholders and Unsecured Noteholders Overwhelmingly Ap..
AQ
10/16CALFRAC WELL SERVICES : investors approve company plan over Wilks Brothers takeo..
AQ
More news
Financials
Sales 2020 670 M 518 M 518 M
Net income 2020 -501 M -387 M -387 M
Net Debt 2020 846 M 654 M 654 M
P/E ratio 2020 -0,10x
Yield 2020 -
Capitalization 48,1 M 37,1 M 37,1 M
EV / Sales 2020 1,33x
EV / Sales 2021 0,97x
Nbr of Employees 3 300
Free-Float 77,7%
Chart CALFRAC WELL SERVICES LTD.
Duration : Period :
Calfrac Well Services Ltd. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends CALFRAC WELL SERVICES LTD.
Short TermMid-TermLong Term
TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 5
Average target price 0,37 CAD
Last Close Price 0,33 CAD
Spread / Highest target 294%
Spread / Average Target 12,9%
Spread / Lowest Target -100%
EPS Revisions
Managers
NameTitle
Lindsay R. Link President, Chief Operating Officer & Director
Ronald P. Mathison Executive Chairman
Michael D. Olinek Chief Financial Officer
James Michael Brown Vice President-Technology
James S. Blair Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
CALFRAC WELL SERVICES LTD.-73.60%33
WORLEY LIMITED-15.74%5 006
OFFSHORE OIL ENGINEERING CO. LTD-36.72%3 169
SUBSEA 7 S.A.-18.46%2 889
TGS-NOPEC GEOPHYSICAL COMPANY ASA-53.65%1 646
SERBA DINAMIK HOLDINGS-25.91%1 347