Calfrac announces 2014 capital program and dividend

CALGARY, Dec. 5, 2013 /CNW/ - Calfrac Well Services Ltd. ("Calfrac" or the 
"Company") (TSX: CFW) is pleased to announce a 2014 capital budget of 
approximately $120 million. The capital program is focused on maintenance and 
support capital and additional investment in logistics equipment. 
Approximately $33 million of capital is allocated to support Calfrac's growing 
international operations, including further investment in coiled tubing and 
fracturing equipment in Russia and Argentina, as the Company's outlook for 
activity in these regions continues to improve. In addition, approximately $20 
million remaining from Calfrac's 2013 capital program is expected to be spent 
in 2014. 
The 2014 capital program reflects Calfrac's ongoing commitment to maintain its 
equipment fleet in peak operating condition, while developing further 
enhancements to service quality and operational efficiency. Calfrac will 
continue to assess opportunities to strategically expand its operations in a 
prudent manner and will also continue to evaluate its capital program in order 
to make any required adjustments as greater visibility unfolds in 2014. 
Calfrac is also pleased to announce that its Board of Directors has declared a 
dividend pursuant to its quarterly dividend policy. The dividend of $0.25 
per common share will be paid on January 15, 2014 to shareholders of record on 
December 31, 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 operational 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 ( 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.

SOURCE  Calfrac Well Services Ltd. 
Douglas R. Ramsay Chief Executive Officer Telephone:(403) 266-6000 Fax: 
(403) 266-7381 
Michael J. McNulty Chief Financial Officer Telephone: (403) 266-6000 
Tom J. Medvedic Senior Vice President, Corporate Development Telephone: 
(403) 266-6000 Fax:(403)266-7381 
To view this news release in HTML formatting, please use the following URL: 
CO: Calfrac Well Services Ltd.
ST: Alberta
-0- Dec/05/2013 11:00 GMT
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