Nov 12 (Reuters) - Calfrac Well Services Ltd CFW.TO :
* CALFRAC ANNOUNCES THIRD QUARTER RESULTS AND REDUCED CAPITAL BUDGET
* Q3 REVENUE FELL 68 PERCENT TO C$127.8 MILLION
* Q3 LOSS PER SHARE C$0.34
* APPROVED A FURTHER REDUCTION IN COMPANY'S 2020 CAPITAL BUDGET FROM $55.0 MILLION TO $40.0 MILLION
* EXPECTS ACTIVITY IN Q4 TO BE IN LINE WITH LEVELS SEEN IN Q3
* ANNOUNCED REDUCTIONS IN CANADA EMERGENCY WAGE SUBSIDY WILL LIKELY IMPACT MARGIN PERFORMANCE IN Q4 VERSUS Q3
* ACTIVE EQUIPMENT IS EXPECTED TO BE HIGHLY UTILIZED THROUGH END OF Q1 OF 2021
* CALFRAC - DOES NOT INTEND TO ACTIVATE OR STAFF INCREMENTAL EQUIPMENT WITHOUT ACCEPTABLE COMBINATION OF IMPROVED RETURNS, VISIBILITY ON WORK SCOPE