Ad blocking detected

Thank you for visiting We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.

Canadian Insider Ultra Club
$500/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

Calfrac Well Services Ltd. (T:CFW)

Business Focus: Oil Related Services

Sector:  Energy Industry:  Oil Related Services and Equipment
See Regulatory Filings on SEDAR
Company Contact
Address: 411 8 Ave SW
Tel: N/A
IR: See website
Key People
Ronald P. Mathison
Chairman of the Board
J. Michael Brown
Vice President - Technical Services
Lindsay R. Link
President, Chief Operating Officer, Director
George S. Armoyan
Interim Chief Executive Officer, Director
Michael D. Olinek
Chief Financial Officer
Gordon Troy Milgate
President - Canadian Division
Robert L. Sutherland
President - Russian Division
Mark D. Rosen
Vice President - Operations, United States Division
Mark R. Ellingson
Vice President - Sales and Marketing, U.S. Division
Edward L. Oke
Vice President - Human Resources
Business Overview
Calfrac Well Services Ltd. is a provider of specialized oilfield services. The Company provides hydraulic fracturing, coiled tubing, cementing and other well stimulation services. The Company operates through four segments: United States, Canada, Argentina, and Russia. The Company's United States segment provides fracturing services to oil companies operating in the Bakken shale play in North Dakota. The Canadian segment is focused on the provision of fracturing and coiled tubing services to a diverse group of oil and natural gas exploration and production companies operating in Alberta, northeast British Columbia, Saskatchewan and Manitoba. The Argentinean segment provides pumping services from its operating bases in Argentina. The Company provides fracturing, cementing and coiled tubing services to oil and natural gas companies operating in the Neuquen, Las Heras and Comodoro regions. The Russian segment provides fracturing and coiled tubing services in Western Siberia.
Financial Overview
For the six months ended 30 June 2022, Calfrac Well Services Ltd revenues increased 46% to C$613M. Net loss before extraordinary items decreased 54% to C$24.8M. Revenues reflect United States segment increase of 82% to C$326.1M, Canada segment increase of 31% to C$178.7M, Argentina segment increase of 51% to C$108.2M, United States segment increase of 82% to C$326.1M, Canada segment increase of 31% to C$178.7M.
Employees: 2,684 as of Dec 31, 2021
Reporting Currency: Canadian Dollars
Enterprise value: $622.39M as of Jun 30, 2022
Annual revenue (TTM): $1,167M as of Jun 30, 2022
EBITDA (TTM): $144.08M as of Jun 30, 2022
Net annual income (TTM): -$54.67M as of Jun 30, 2022
Free cash flow (TTM): -$54.45M as of Jun 30, 2022
Net Debt Last Fiscal Year: $403.69M as of Jun 30, 2022
Shares outstanding: 38,944,490 as of Aug 26, 2022
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization