Calfrac Announces 2013 Capital Program and Dividend

CALGARY, Dec. 6, 2012 /CNW/ - Calfrac Well Services Ltd. ("Calfrac" or the 
"Company") (TSX: CFW) announces a 2013 capital budget of approximately $117 
million. The capital program is focused on maintenance and support capital and 
further investment in logistics equipment. Approximately $25 million of 
capital is allocated to support Calfrac's growing Latin American operations, 
including an investment in coiled tubing and fracturing equipment, as the 
Company's outlook for activity in this region continues to improve. The 2013 
capital program does not contemplate any additional expansion capital for 
Calfrac's Canadian, United States and Russian operations. In addition, 
approximately $110 million remaining from Calfrac's existing capital program 
is expected to be spent in 2013. 
The 2013 capital program demonstrates Calfrac's continued commitment to 
maintain its equipment fleet in peak operating condition, while introducing 
further enhancements to improve the Company's service quality and operational 
efficiency. Calfrac will continue to assess opportunities to strategically 
expand its geographic presence in a prudent manner through a period of 
uncertain oilfield service activity, and will also continue to evaluate its 
capital program in order to make any required adjustments as greater 
visibility unfolds in 2013. 
Calfrac is pleased to announce that its Board of Directors has declared a 
dividend pursuant to its semi-annual dividend policy. The dividend of $0.50 
per common share will be paid on December 21, 2012 to shareholders of record 
on December 14, 2012. The Board of Directors has also approved an 
amendment to Calfrac's dividend policy by increasing the frequency of 
dividends thereunder to a quarterly basis, commencing with a $0.25 dividend to 
be declared in the first quarter of 2013. 
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, Mexico, Colombia and Argentina. 
This press release contains forward-looking statements and forward-looking 
information within the meaning of applicable securities laws. The use of any 
of the words "expect", "anticipate", "continue", "estimate", "may", "will", 
"project", "should", "believe", "plans", "intends" and similar expressions are 
intended to identify forward-looking information or statements. More 
particularly and without limitation, this press release contains 
forward-looking statements and information concerning the allocation of 
capital and equipment and in respect of geographic expansion. These 
forward-looking statements and information are based on certain key 
expectations and assumptions made by Calfrac. Although Calfrac believes that 
the expectations and assumptions on which such forward-looking statements and 
information are based are reasonable, undue reliance should not be placed on 
the forward-looking statements and information as Calfrac cannot give any 
assurance that they will prove to be correct. Since forward-looking 
statements and information address future events and conditions, by their very 
nature they involve inherent risks and uncertainties. Actual results could 
differ materially from those currently anticipated due to a number of factors 
and risks. These include, but are not limited to, prevailing economic 
conditions; commodity prices; sourcing, pricing and availability of raw 
materials, component parts, equipment, suppliers, facilities and skilled 
personnel; dependence on major customers; uncertainties in weather and 
temperature affecting the duration of the service periods and the activities 
that can be completed; health, safety and environmental risks; exchange rate 
fluctuations; marketing and transportation; loss of markets; environmental 
risks; governmental regulations; competition; incorrect assessment of the 
value of acquisitions; failure to realize the anticipated benefits of 
acquisitions; ability to access sufficient capital from internal and external 
sources; failure to obtain required regulatory and other approvals; and 
changes in legislation, including but not limited to tax laws, royalties and 
environmental regulations. 
Readers are cautioned that the foregoing list of risks and uncertainties is 
not exhaustive. Additional information on these and other risk factors that 
could affect Calfrac's operations or financial results are included in 
Calfrac's annual information form and may be accessed through the SEDAR 
website (www.sedar.com). The forward-looking statements and information 
contained in this press release are made as of the date hereof and Calfrac 
does not undertake any obligation to update publicly or revise any 
forward-looking statements or information, whether as a result of new 
information, future events or otherwise, unless so required by applicable 
securities laws. 
Douglas R. Ramsay Chief Executive Officer Telephone:(403) 266-6000 Fax: 
(403) 266-7381  Laura A. Cillis Senior Vice President, Finance and Chief 
Financial Officer Telephone: (403) 266-6000 Fax:(403)266-7381  Tom J. 
Medvedic Senior Vice President, Corporate Development Telephone: (403) 
266-6000 Fax:(403)266-7381 
SOURCE: Calfrac Well Services Ltd. 
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CO: Calfrac Well Services Ltd.
ST: Alberta
NI: OIL DIV  
-0- Dec/06/2012 11:00 GMT