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Last $14.73 USD
Change Today +0.17 / 1.17%
Volume 1.3M
CJES On Other Exchanges
Symbol
Exchange
Berlin
As of 8:04 PM 04/24/15 All times are local (Market data is delayed by at least 15 minutes).

c&j energy services ltd (CJES) Key Developments

C&J Energy Services, Ltd.(NYSE:CJES) dropped from S&P 1000 Index

C&J Energy Services, Ltd.(NYSE:CJES) dropped from S&P 1000 Index

C&J Energy Services, Ltd.(NYSE:CJES) dropped from S&P 600 Oil & Gas Equipment & Services (Sub Ind) Index

C&J Energy Services, Ltd.(NYSE:CJES) dropped from S&P 600 Oil & Gas Equipment & Services (Sub Ind) Index

C&J Energy Services, Ltd.(NYSE:CJES) dropped from S&P SmallCap 600 Index

C&J Energy Services, Ltd.(NYSE:CJES) dropped from S&P SmallCap 600 Index

C&J Energy Services, Ltd.(NYSE:CJES) dropped from S&P SmallCap 600 Sector Indices - Energy Sector Index

C&J Energy Services, Ltd.(NYSE:CJES) dropped from S&P SmallCap 600 Sector Indices - Energy Sector Index

C&J Energy Services, Ltd., CJ Lux Holdings S.a r.l. and CJ Holding Co. Enter into Credit Agreement

In connection with the transactions contemplated by the Merger Agreement and the Separation Agreement, C&J Energy Services Ltd. (formerly known as Nabors Red Lion Limited) (New C&J) entered into a Credit Agreement, dated as of March 24, 2015, among New C&J, CJ Lux Holdings S. r.l. (Luxco), CJ Holding Co, Bank of America, N.A., as Administrative Agent (in such capacity, the Administrative Agent), Swing Line Lender and an L/C Issuer, and the other lenders party thereto. The Credit Agreement provides for senior secured credit facilities in an aggregate principal amount of $1.660 billion, consisting of a revolving credit facility (the Revolving Credit Facility) in an aggregate principal amount of $600 million and a term loan B facility (the Term Loan B Facility) in an aggregate principal amount of $1.060 billion. Immediately upon the closing of the Transactions, New C&J, Luxco, CJ Holding Co., the Administrative Agent and certain lenders party thereto entered into a Credit Agreement (the Initial Credit Agreement), providing for a revolving credit facility in an aggregate principal amount of $600 million and a term loan B facility in an aggregate principal amount of $775 million. New C&J, Luxco, CJ Holding Co., Citibank, N.A., as Administrative Agent, and certain lenders party thereto simultaneously also entered into a Credit Agreement, dated as of March 24, 2015 (the Bridge Credit Agreement), providing for a bridge credit facility in an aggregate principal amount of $250 million. Immediately after execution of the Initial Credit Agreement and the Bridge Credit Agreement, the Initial Credit Agreement was amended by a First Amendment to Credit Agreement (the Amendment) pursuant to which the size of the term loan B facility under the Initial Credit Agreement was increased by $285 million to $1.060 billion. CJ Holding Co. used a portion of the proceeds of such additional term loans to repay the obligations outstanding under the Bridge Credit Agreement in full. The borrowers under the Revolving Credit Facility are New C&J, Luxco and CJ Holding Co. The borrower under the Term Loan B Facility is CJ Holding Co. Borrowings under the Revolving Credit Facility will mature on March 24, 2020 (except that if any Five-Year Term Loans have not been repaid prior to September 24, 2019, the Revolving Credit Facility will mature on September 24, 2019). The Term Loan B Facility is comprised of two tranches: a tranche consisting of $575 million in aggregate principal amount of term loans maturing on March 24, 2020 (the Five-Year Term Loans) and a tranche consisting of a $485 million in aggregate principal amount of term loans maturing on March 24, 2022 (The Seven-Year Term Loans). Borrowings under the Revolving Credit Facility are non-amortizing. The Term Loan B Facility requires the borrower thereunder to make quarterly amortization payments in an amount equal to 1.00% per annum, with the remaining balance payable on the applicable maturity date. On March 24, 2015, C&J Energy Services Inc. (C&J Sub) terminated the Credit Agreement, dated as of April 19, 2011, as amended, among C&J Sub, Bank of America, N.A., as Administrative Agent, and the lenders from time to time party thereto, by replacing it with the new Credit Agreement described above. No penalties were due in connection with such repayment.

 

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CJES:US $14.73 USD +0.17

CJES Competitors

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Company Last Change
Calfrac Well Services Ltd C$9.88 CAD -0.11
Pioneer Energy Services Corp $6.15 USD -0.09
Precision Drilling Corp C$8.36 CAD -0.06
Trican Well Service Ltd C$4.88 CAD +0.02
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Industry Analysis

CJES

Industry Average

Valuation CJES Industry Range
Price/Earnings 12.0x
Price/Sales 0.5x
Price/Book 1.0x
Price/Cash Flow 9.8x
TEV/Sales 0.9x
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