October 21, 2017 12:41 PM ET

Energy Equipment and Services

Company Overview of C&J Energy Production Services Canada Ltd.

Company Overview

C&J Energy Production Services Canada Ltd. provides completion and production services for oil and gas industry in Canada. C&J Energy Production Services Canada Ltd. was formerly known as Nabors Production Services Ltd. The company is based in Sylvan Lake, Canada. C&J Energy Production Services Canada Ltd. operates as a subsidiary of C&J Energy Services, Ltd.

33 Schenk Industrial Road

Sylvan Lake, AB T4S 2J9

Canada

Phone:

403-887-7400

Fax:

403-887-3050

Key Executives for C&J Energy Production Services Canada Ltd.

C&J Energy Production Services Canada Ltd. does not have any Key Executives recorded.

C&J Energy Production Services Canada Ltd. Key Developments

Modified Second Amended Reorganization Plan Approved for CJ Holding Co.

The US Bankruptcy Court approved the modified second amended plan of reorganization of CJ Holding Co. on December 16, 2016. The debtor has filed its modified second amended plan in the Court on December 15, 2016. As per the amended plan, administrative claims, professional fee claims, DIP facility claims and Payment of Fees and Expenses under DIP Orders or RSA and Priority Tax claims shall be paid full in cash. Other secured claims shall be either paid full in cash or will get collateral securing the claim or will be reinstated. Other priority claims and Mineral Contractor claims expected to be in the range of $14.4 million to $16.7 million, will receive cash equal to the allowed amount. Secured Lender claims in the amount of $1.33 billion shall receive a recovery of 49.9%. Unsecured convenience claims in the range of $6 million to $6.5 million which will get pro-rata share of convenience class recovery pool, in the range of 38.5% to 40% of the allowed claim Intercompany claims and intercompany interests shall be either reinstated or cancelled and released without any distribution. General unsecured claims OF $76.1 million will get recovery in the range of 56.7% to 57.5%. Interests holders in C&J Energy and Subordinated securities claim holders shall receive pro-rata share of new Warrants, if timely accept the plan or otherwise will get no distribution. The holders of Deficiency Lender Claims have agreed to forgo their right to receive their Pro Rata share of the Unsecured Creditor Cash Pool. The plan will be funded through cash in hand, new common stock, Rights Offering of $200 million, new Warrants and proceeds of $100 million from Exit Facility.

Motion for Asset Sale Filed by CJ Holding Co.

CJ Holding Co. filed a motion in the US Bankruptcy Court for the sale of its certain assets on November 18, 2016. The debtor seeks the Court’s approval for the sale of certain assets of Total E&S, Inc. to Gardner Denver Petroleum Pumps, LLC in a private sale for a purchase price of $17.5 million pursuant to the asset purchase agreement. The debtor’s assets include all inventory, certain machinery, finished goods, intellectual property, claims and insurance policies related to its fracturing pump, power end and fluid end manufacturing, repair and refurbishment business. Adam R. Law of Vinson & Elkins L.L.P represented Total E&S, Inc. and Taurie M. Zeitzer of Paul, Weiss, Rifkind, Wharton & Garrison LLP represented Gardner Denver Petroleum Pumps, LLC as legal advisors.

Second Amended Reorganization Plan and Disclosure Statement Filed by CJ Holding Co.

CJ Holding Co. filed second amended plan of reorganization and related disclosure statement in the US Bankruptcy Court on November 3, 2016. As per the amended plan, secured lender claims shall have recovery of 49.9% instead of 53% in previous plan. The plan has a new class of unsecured convenience claims in the range of $6 million to $6.5 million which will get pro-rata share of convenience class recovery pool, in the range of 38.5% to 40% of the allowed claim. General unsecured claims has been re-estimated at $68.2 million to $76.1 million and will get recovery in the range of 56.7% to 57.5%. Treatment of all the other classes of claims remain same as per the previous plan. CJ Holding Co. filed modified second amended plan of reorganization on December 15, 2016. As per the modified plan, there shall be no changes in the treatment of any claim class.

Similar Private Companies By Industry

Company Name Region
1016183 B.C. Ltd. Americas
8193053 Canada Ltd. Americas
914246 Alberta Ltd Americas
Abax Energy Services Ltd. Americas
Absolute Completion Technologies Ltd. Americas

Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
\
 

The information and data displayed in this profile are created and managed by S&P Global Market Intelligence, a division of S&P Global. Bloomberg.com does not create or control the content. For inquiries, please contact S&P Global Market Intelligence directly by clicking here.

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
The Advertising Council, Inc. United States
NYC2012, Inc. United States
Tax Management Inc United States
Bertelsmann AG Europe

Sponsored Financial Commentaries

Sponsored Links

Request Profile Update

Only a company representative may request an update for the company profile. Documentation will be required.

To contact C&J Energy Production Services Canada Ltd., please visit --. Company data is provided by S&P Global Market Intelligence. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.