This fleet modernization plan serves to meet the expanding Environmental, Social and Governance ("ESG") commitments of the Company's customers with the significant addition of next generation, low emission equipment. These multi-year investments totaling approximately
This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "predict", "potential", "targeted", "intend", "could", "might", "should", "believe", "forecast" or similar words suggesting future outcomes, are forward-looking statements and information.
In particular, forward-looking statements and information in this press release include, but are not limited to, statements with respect to the initiation of Calfrac's multi-year fracturing fleet modernization plan and existing Tier IV DGB pumping unit investments, including without limitation expectations as to (i) timing, cost and scope, (ii) impacts on the Company's annual maintenance expenditures, and (iii) the operational and ESG benefits to be realized by the Company and its customers.
These forward-looking statements and information are derived from certain assumptions and analyses made by the Company based on its experience and perception of historical trends, current conditions, expected future developments and other factors that it believes are appropriate in the circumstances, including, but not limited to, the economic and political environment in which the Company operates, including the anticipated impacts of inflation on the Company's operations and demand for its services; the Company's expectations for its current and prospective customers' capital budgets and geographical areas of focus; the effect of environmental, social and governance factors on customer and investor preferences and capital deployment; the Company's existing contracts and the status of current negotiations with key customers and suppliers; the continued effectiveness of cost reduction measures instituted by the Company; and the likelihood that the current tax and regulatory regime will remain substantially unchanged.
Forward-looking statements are subject to a number of known and unknown risks and uncertainties that could cause actual results to differ materially from the Company's expectations. Such risk factors include but are not limited to: volatility of industry conditions including the level of exploration, development and production for oil and natural gas in
The forward-looking statements and information contained in this press release speak only as of the date hereof and Calfrac does not undertake any obligation to update publicly or revise any such forward-looking statements or information, whether due to new information, future events or otherwise, unless so required by applicable securities laws. The Company's actual results could also differ materially from those anticipated in these forward-looking information and statements due to the risk factors discussed above and incorporated herein by reference.
Calfrac's common shares and warrants are publicly traded on the
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