C&J Energy Services announced its entering into Restructuring Support Agreement

A leading provider of services involved in the entire life circle of wells in North America is struggling to keep afloat.

13.Jul.16 4:18 AM
By Vladimir Vasiliev
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C&J Energy Services announced its entering into Restructuring Support Agreement

The company operates in most of the oil and gas producing fields in USA and Western Canada. The problems of the industry coursed financial problems C&J Energy Services Ltd.

The only hope is to save company until business environment begins to recover. C&J Energy Services Ltd. CEO Don Gawick said that he is pleased to enter this Restructuring Support Agreement which will strengthen business and respond to the challenging market environment. The company will continue to operate daily in the normal course. The deal eliminates approximately $1.4 billion of debt. Whatever current problems are C&J Energy Services’ shareholders show confidence that the company has future.

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