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Calfrac Pushes Back Against Price Reductions
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Calfrac has announced fourth quarter results and 2015 outlook.
The company is blunt in its response to continuing calls for service cost reductions:Fernando Aguilar, President and Chief Executive Officer, said: "Companies that are trying to do more work with less capital, asking service companies for between 25-30% our response to that request is basically that there is no room for 25-30% discounts in the industry. We've seen people parking fleets already, we've seen customers asking for more. There has to be a limit for that. We would like to see how many people can operate at a loss and for how long."
Capital Program Calfrac's 2015 capital program is anticipated to be approximately $215.0 million, which includes approximately $175.0 million of carryover capital from the 2014 capital…- ✓ Full news archive — U.S., Canada & international coverage
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