Calfrac Well Services increases credit facilities to C$205 million

Lexington, Ky., Nov. 29 – Calfrac Well Services Ltd. has exercised the accordian feature on its credit facility increasing it to C$205 million, according to a press release on Thursday.

The C$25 million increase raises the capacity of the existing credit facility to C$250 million with a C$45 million operating facility.

In addition, Canadian Western Bank has been added to the company’s syndicate of lenders.

Concurrent with these amendments, the company’s board of directors approved a capital budget increase of up to C$70 million from C$61 million in order to support the growth of its North American operations.

Calfrac is a Calgary, Alta.-based company that provides specialized oilfield services to exploration and production companies.

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