RE:RE:RE:RE:RE:the game is over for calfrac, ensignaimco owns nearly 20% of calfrac commons while the wilks bros got 20%
considering kenney wants to bail out o&G with low interest loans and AB stands to be bagholder anyways, perhaps that is good for cfw's fortunes for survival.
i think they will be forced to sell their assets but maybe the canadian division can somehow be restructed with help from ab government.
the challenging part for debtholders is their assets are not worth the debt at the moment, nobody wants to do business in argentina while the US is heavily oversupplied and the shale boom is imploding on a permanent level.
canada is dead now but it won't be in a year or two from now.
russia, you have to be special to want to have part in that.
i think calfrac only got a reprieve on re-financing because they debtholders knew they wouldn't get anything if they forced bankruptcy. nothing in the pot in terms of equity and the assets are not worth even close to what is owed.