Heavily indebted Calfrac spurns Wilks Brothers’ offers for U.S. unit amid restructuring

CALGARY — One of Canada’s largest fracking companies said its restructuring and has fended off “undervalued” offers for its U.S. operations amid a sharp decline in oilfield services activity.

Calfrac Well Services Ltd. announced Tuesday that an Alberta Court of Queen’s Bench judge allowed the company to restructure its debts through the Canada Business Corporations Act (CBCA).

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Ford government prepared to invest in firms as part of Ontario’s recovery plans: minister

Ontario Premier Doug Ford’s government is prepared to invest in “anchor” companies as part of its plan to help the province’s economy recover from the COVID-19 crisis. 

A new investment-attraction agency, Invest Ontario, will both tout the province as a place for companies to set up shop and make investments itself if necessary, Vic Fedeli, the economic development minister, said in an interview.

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