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

TORONTO, Nov. 22, 2017 /CNW/ - Wilks Brothers, LLC ("Wilks LLC") announced today that on November 22, 2017, Wilks LLC acquired 17,000 common shares (the "Common Shares") of Calfrac Well Services Ltd. (the "Issuer") and its joint actors, Dan and Staci Wilks (the "Wilkses" and together with Wilks LLC, the "Acquirors") acquired 423,000 Common Shares at a price of approximately $5.98 per Common Share for a total of $2,631,200 ($101,660 and $2,529,540, respectively) through the facilities of the Toronto Stock Exchange. Prior to such acquisition, the Acquirors together held 28,280,172 Common Shares representing approximately 19.68% of the issued and outstanding Common Shares (the 17,370,695 Common Shares held by Wilks LLC representing approximately 12.09% of the issued and outstanding Common Shares and the 10,909,477 Common Shares held by the Wilkses representing approximately 7.59% of the issued and outstanding Common Shares). Following the acquisition, the Acquirors together hold 28,720,172 Common Shares representing approximately 19.98% of the issued and outstanding Common Shares (the 17,387,695 Common Shares held by Wilks LLC representing approximately 12.10% of the issued and outstanding Common Shares and the 11,332,474 Common Shares held by the Wilkses representing approximately 7.88% 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 Acquirors 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 Acquirors deem appropriate, the Acquirors may increase or decrease their 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.