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BRIEF-Calfrac Well Services Says Commencing An Action Against Wilks Brothers

Published 2018-05-30, 12:46 p/m
Updated 2018-05-30, 12:50 p/m
© Reuters.  BRIEF-Calfrac Well Services Says Commencing An Action Against Wilks Brothers

May 30 (Reuters) - Calfrac Well Services Ltd CFW.TO :

* CALFRAC WELL SERVICES LTD - IN FEBRUARY 2018, CALFRAC ENTERED INTO A CONFIDENTIALITY AGREEMENT WITH WILKS BROTHERS

* CALFRAC WELL SERVICES LTD - COMMENCING AN ACTION AGAINST WILKS BROTHERS IN COURT OF QUEEN'S BENCH OF ALBERTA

* CALFRAC WELL SERVICES LTD - BELIEVES THAT WILKS BROTHERS BREACHED CONFIDENTIALITY AGREEMENT BY ISSUING PRESS RELEASE IN MAY, 2018

* CALFRAC WELL SERVICES LTD - WILKS BROTHERS' "PRESS RELEASE NEGATIVELY IMPACTED THE FINANCING" OF 8.50% NOTES DUE 2026

* CALFRAC WELL SERVICES LTD - IS COMMENCING AN ACTION AGAINST WILKS BROTHERS TO RECOVER INCREMENTAL COSTS ASSOCIATED WITH FINANCING

* CALFRAC WELL SERVICES LTD - BELIEVES WILKS BROTHERS' APPROACH OF SEPARATION OF CALFRAC'S U.S. BUSINESS IS ONLY "ONE OF A NUMBER OF ALTERNATIVES"

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