Wilks Brothers, LLC Acquires Common Shares of Calfrac Well Services Ltd.

TORONTO, Sept. 13, 2017 /CNW/ - Wilks Brothers, LLC (the "Acquiror") announced today that on September 13, 2017, the Acquiror acquired 2,453,000 common shares (the "Common Shares") of Calfrac Well Services Ltd. (the "Issuer") at a price of approximately $4.25 per Common Share for a total of $10,425,250 through the facilities of the Toronto Stock Exchange. Prior to such acquisition, the Acquiror held, together with its joint actors, 24,875,372 Common Shares representing approximately 18.19% of the issued and outstanding Common Shares. Following the acquisition, the Acquiror holds, together with its joint actors, a total of 27,328,372 Common Shares representing approximately 19.98% of the issued and outstanding Common Shares.

The acquisition of Common Shares was made in the ordinary course of business and for investment purposes. The Acquiror may in future seek to effect material changes in the Issuer's business or corporate structure including, without limitation, changes to the board of directors or management of the Issuer and/or the sale or transfer or material assets of the Issuer or its subsidiaries and in connection therewith may take such actions as are permitted by applicable law including, without limitation, the requisition of meetings of the Issuer's securityholders and the solicitation of proxies from the Issuer's securityholders in any manner permitted by law. Furthermore, depending on various factors including, without limitation, the Issuer's financial position, the price levels of the Common Shares, conditions in the securities markets and general economic and industry conditions, the Issuer's business or financial condition and other factors and conditions the Acquiror deems appropriate, the Acquiror may increase or decrease its beneficial ownership of Common Shares or other securities of the Issuer whether in the open market, by privately negotiated agreement or otherwise.

The Issuer is located at 411 – 8th Avenue S.W., Calgary, Alberta, T2P 4G8. The Acquirors are located at 17010 Interstate 20, Cisco, Texas, 76437. A copy of the early warning report in relation to the acquisition of the Common Shares can be obtained from Morgan Neff (817-850-3600) or on the SEDAR profile of the Issuer at www.sedar.com.

SOURCE Wilks Brothers, LLC.