Calfrac Well Services adjusts amounts and extends credit facilities

Chicago, June 30 – Calfrac Well Services Ltd. has amended and extended its credit facilities, according to a press release on Wednesday.

The company has extended the maturity date an additional 13 months to July 1, 2023 from June 1, 2022.

Additionally, the amounts have changed. Calfrac reduced the syndicated facility to C$180 million from C$259.1 million. The operating facility has separately been increased to C$45 million from C$30.1 million. The overall reduction in the facilities is intended to reduce the stand-by fees.

Also, a C$25 million accordion feature has been added to the credit facility.

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

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