Calfrac: Announces Dividend and Suspension of Dividend Reinvestment Plan

Calfrac Well Services Ltd. announces that its Board of Directors has declared a dividend pursuant to its quarterly dividend policy. The dividend of $0.015625 per common share will be paid on October 15, 2015 to shareholders of record on October 5, 2015.

The 75% decrease in Calfrac’s upcoming dividend reflects the impact that low oil and natural gas prices have had on the demand for, and pricing of, North American oilfield services. Calfrac is also continuing a disciplined cost reduction program, which will remain active during the current industry downturn.

Calfrac’s Board of Directors reviews its dividend policy and, as appropriate, declares dividends on a quarterly basis, taking into account a number of factors, including: Calfrac’s cash flow, results of operations and financial condition; the need for funds to finance its ongoing operations; and other business considerations that the Board considers relevant.

Calfrac also announced that it will be suspending its Dividend Reinvestment Plan (the “DRIP”) for its common shares until further notice. Shareholders participating in the DRIP will begin receiving cash dividends on the October 15, 2015 payment date. If Calfrac elects to reinstate the DRIP in the future, shareholders that were enrolled in the DRIP at suspension and remained enrolled at reinstatement will automatically resume participation in the DRIP.

Calfrac’s common shares are publicly traded on the Toronto Stock Exchange under the trading symbol “CFW”. Calfrac provides specialized oilfield services to exploration and production companies designed to increase the production of hydrocarbons from wells drilled throughout western Canada, the United States, Russia, Argentina and Mexico.