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Bullboard - Stock Discussion Forum Calfrac Well Services Ltd T.CFW

Alternate Symbol(s):  CFWFF

Energy Oil & Gas Equipment & Services
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... see more

Bullboard (TSX:CFW)

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Comment by Holdernko123on Jan 20, 2021 1:11am

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:pik notes

Thanks Contrarian333. You provided great information for the group. I agree that CFW is really under valued. There are two main reasons, first, CFW paid the tender shareholder $0.15 cents cash per ...more  
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Comment by Contrarian333on Jan 18, 2021 6:49pm

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:pik notes

Thanks BigWillie - yes, its a pretty thick document.........maybe part of the reason why there seems to be some confusion around what the value proposition is...........but the more I dig, the more I ...more  
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Comment by BigWillieon Jan 18, 2021 2:59pm

RE:RE:RE:RE:RE:RE:RE:RE:RE:pik notes

thank you Contrarian, you are the best contribution to this forum. The circular you pointed me out to reads like a novel, must have been very dramatic Summer for Calfrac.
200
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Comment by Contrarian333on Jan 18, 2021 9:10am

RE:RE:RE:RE:RE:RE:RE:RE:pik notes

With respect I don't think that is quite right.  The former senior debentureholders converted their debt into equity.  Armoyan as an example was a debt holder.  My guess would be he ...more  
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Comment by BigWillieon Jan 17, 2021 11:15pm

RE:RE:RE:RE:RE:RE:RE:pik notes

those 60 million are principal value, which was exchanged at various actual rates, anywhere from 4.3$ to 17.7$ of junk-debt dollars per post-consolidated shares of Calfrac. I am talking ...more  
218
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Comment by Holdernko123on Jan 17, 2021 12:39am

RE:RE:RE:RE:RE:RE:pik notes

I don't understand why $C60 m 1.5Lien Load can take 53% shares and $US 431 m Note only take 38% shares?
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Comment by Contrarian333on Jan 16, 2021 2:53pm

RE:RE:RE:RE:RE:RE:pik notes

If you dig into the circular you will find that the PIK financing was done under the hardship exemption. The terms were obviously very favourable for the capital providers.  
199
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Comment by BigWillieon Jan 16, 2021 10:59am

RE:RE:RE:RE:RE:pik notes

Ownership wasn't for nothing, the way I read it, debt for ownership was rouhly 12$ per share. Hense was my PIK Notes question, how is that they are converted at 1.33$ per share, it doesn't ...more  
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Comment by Contrarian333on Jan 14, 2021 3:33pm

RE:RE:RE:RE:pik notes

HugeCrane - it is relatively easy to ball park the debt service costs and compare that to a normal year's EBITDA.  They have two pieces of remaining current interest debt. I think ou will ...more  
251
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Comment by Contrarian333on Jan 14, 2021 7:39am

RE:RE:RE:RE:RE:pik notes

Clarke has to sell shares held in their pension plan by regulatory mandate. btw - calfrac has about $100m in cash 
168
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Comment by HugeCraneon Jan 14, 2021 12:48am

RE:RE:RE:RE:pik notes

And to add. Clark sold shares today. So if anything Georgey boy is pulling capital. HOWEVER. I strongly believe any stock selling by Clark is being done out of necessity given it is a public company ...more  
198
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Comment by Holdernko123on Jan 13, 2021 7:44pm

RE:RE:RE:RE:pik notes

I agree that cfw will be combined with tcw. Tcw sold its us business a few years ago. I think these two company combined is good for both.
137
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Comment by HugeCraneon Jan 13, 2021 6:48pm

RE:RE:RE:pik notes

I don't think we will see a going concern statement for the next several quarters but I still think George is only on the board to eventually stronghand a merger with Trican. I agree it could ...more  
177
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Comment by Contrarian333on Jan 12, 2021 10:55am

RE:RE:pik notes

HugeCrane - You are correct about the debt levels but I think you need to look at what kind of cash flow this thing can generate in a non 2020 type year when oil doesn't go to zero, and also ...more  
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Comment by Contrarian333on Jan 12, 2021 10:50am

RE:pik notes

You are correct!
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