Calfrac Announces Appointment of Chief Financial Officer

CNW Group

CALGARY , Nov. 6, 2013 /CNW/ - Calfrac Well Services Ltd. ("Calfrac") (TSX-CFW) is pleased to announce that Michael J. (Mick) McNulty has been appointed as Chief Financial Officer of Calfrac, effective December 4, 2013.   Mr. McNulty will report to Douglas R. Ramsay , the Chief Executive Officer of Calfrac, until Fernando Aguilar succeeds Mr. Ramsay as President and Chief Executive Officer, which as previously disclosed is scheduled to take place on January 1, 2014.   As Chief Financial Officer, Mr. McNulty will manage the strategic planning process for Calfrac and will have the responsibility for the development and execution of the financial strategy that supports Calfrac's business plans.

Mr. McNulty has over 30 years of experience in the oilfield services sector, having most recently served for Saxon Energy Services Inc. as the President and Chief Executive Officer from January 2009 until April 2013 and as the Senior Vice President and Chief Financial Officer from October 2005 until December 2008.   Prior thereto, Mr. McNulty was employed by Precision Drilling Corporation, serving as the Senior Vice President, Finance from June 2001 until September 2005 and as the Vice President, Business Development and Treasurer from January 1997 until June 2001.   Prior to his employment with Precision Drilling Corporation, Mr. McNulty served in various financial roles with increasing responsibilities in the oilfield services sector.

"We are very pleased to announce the addition of Mick to our team as Chief Financial Officer", said Doug Ramsay , Calfrac's Chief Executive Officer.  "We expect that his experience spanning over 30 years in the oilfield services sector and extensive international exposure will serve Calfrac well as it continues to execute on its growth strategy, both domestically and abroad.  I would also like to thank Tom Medvedic for serving as Interim Chief Financial Officer over the past four months, which allowed us the opportunity to add a candidate of Mick's caliber to our management team."

Calfrac's common shares are publicly traded on the Toronto Stock Exchange under the trading symbol "CFW".  Calfrac provides specialized oilfield services to exploration and production companies designed to increase the production of hydrocarbons from wells drilled throughout western Canada , the United States , Russia , Mexico , Argentina and Colombia .

SOURCE Calfrac Well Services Ltd.

Contact:

Douglas R. Ramsay
Chief Executive Officer
Telephone:  (403) 266-6000
Fax:  (403) 266-7381

Tom J. Medvedic
Senior Vice President, Corporate Development and
Interim Chief Financial Officer
Telephone: (403) 266-6000
Fax: (403) 266-7381

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