Calfrac Well Services Announces Chief Financial Officer Transition


These statements are derived from certain assumptions and analyses made by the Company based on its experience and perception of historical trends, current conditions, expected future developments, and other factors that it believes are appropriate in the circumstances, including, but not limited to, the costs and operational efficiencies expected to result from the management changes. Forward-looking statements are subject to a number of known and unknown risks and uncertainties that could cause actual results to differ materially from the Company’s expectations. Such risk factors include but are not limited to: the potential that the anticipated benefits of the optimization measures, including cost reductions and operational efficiencies, may not be realized on the timelines or to the extent currently expected (or at all); the potential that the changes may result in higher‑than‑anticipated costs (non-recurring or otherwise), including severance, retention, advisory, or transition expenses; and the potential that the Company may experience operational inefficiencies or disruption during the transition period following the departure of senior management; risk factors related to (a) industry risks, including but not limited to, global economic conditions and the level of exploration, development and production for oil and natural gas in North America and Argentina; (b) geopolitical risks, including but not limited to, international conflict and changes to the global trading system; (c) business operations risks, including but not limited to, fleet reinvestment risk; a concentrated customer base; and cybersecurity risks; (d) financial risks, including but not limited to, restrictions on the Company’s access to capital; direct and indirect exposure to volatile credit markets; and price escalation and availability of raw materials, diesel fuel and component parts; and (e) legal and regulatory risks, including but not limited to, federal, provincial and state legislative and regulatory initiatives and laws. Further information about these and other risks and uncertainties may be found in the Company’s filings, including its most recent Annual Information Form, which is available on the Company’s issuer profile SEDAR+ (www.sedarplus.ca).



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