Shearman & Sterling represented RBC Capital Markets and BofA Merrill Lynch, as joint bookrunning managers and representatives of the several initial purchasers, in connection with the $100 million offering of 7.75% senior notes due 2015 by Calfrac Holdings LP. The senior notes are fully and unconditionally guaranteed by Calfrac Well Services Ltd., the parent of Calfrac Holdings LP, and Calfrac Well Services Corp.

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 and Argentina.

The following Shearman & Sterling team advised the initial purchasers in the transaction: partners Jason Lehner (New York/Toronto-Capital Markets) and Laurence Crouch (Menlo Park-Tax) and associates Kevin Roggow (Toronto-Capital Markets), Hugo Sin (Toronto-Capital Markets), Sonja Sun (Toronto-Capital Markets), Seth Kerschner (New York-Property/Environmental) and Anil Kalia (Menlo Park-Tax).