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Calfrac Well Services Ltd. (T:CFW)

Business Focus: Oil Related Services

Sector:  Energy Industry:  Oil Related Services and Equipment
Company Contact
Address: 407 - 8 Avenue SW, Suite 500
Tel: N/A
IR: See website
Key People
Ronald P. Mathison
Chairman of the Board
Jeffrey I. Ellis
General Counsel, Company Secretary
Patrick G. Powell
Chief Executive Officer, Director
Michael D. Olinek
Chief Financial Officer
Gordon Troy Milgate
President - Canadian Division
Alif H. Noorani
Vice President - Finance
Mark D. Rosen
Vice President - Operations, United States Division
Mark R. Ellingson
Vice President - Sales and Marketing, U.S. Division
Brent W. Merchant
Vice President - Sales and Marketing, Canada Division
Jon Koop
Vice President of Human Resources
Business Overview
Calfrac Well Services Ltd. is a provider of specialized oilfield services, including hydraulic fracturing, coiled tubing, cementing and other well completion services to the oil and natural gas industries. The Company's segments include North America and Argentina. The Company's principal business is hydraulic fracturing of horizontal and vertical oil and natural gas wells. It provides slickwater solutions for fresh and high TDS brine applications, support for high viscosity friction reducer fracture fluid systems, along with all traditional industry applications of gel based, crosslink and energized fracturing needs. Its fleet under the coiled tubing service includes conventional coiled tubing units paired with high-capacity reel-trailers; mast coiled tubing units; custom-designed coiled tubing strings, and E-coil, among others. It offers primary and remedial cementing services in a variety of wells, such as shallow and deep.
Financial Overview
For the six months ended 30 June 2023, Calfrac Well Services Ltd revenues increased 57% to C$959.8M. Net income before extraordinary items totaled C$86.8M vs. loss of C$24.8M. Revenues reflect Argentina segment increase of 58% to C$170.4M, Argentina segment increase of 58% to C$170.4M. Net Income reflects G/L on Sale of Tangible & Intangible FA decrease from C$4.8M (expense) to C$5M (income), Interest decrease of 24% to C$15.8M (expense).
Employees: 2,270 as of Dec 31, 2022
Reporting Currency: Canadian Dollars
Enterprise value: $784.50M as of Jun 30, 2023
Annual revenue (TTM): $1,846M as of Jun 30, 2023
EBITDA (TTM): $341.68M as of Jun 30, 2023
Net annual income (TTM): $146.95M as of Jun 30, 2023
Free cash flow (TTM): $10.65M as of Jun 30, 2023
Net Debt Last Fiscal Year: $354.68M as of Jun 30, 2023
Shares outstanding: 80,976,802 as of Sep 12, 2023
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization