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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