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Calfrac Shareholders Rejoice: Company Launches Normal Course Issuer Bid InitiativeCALGARY, Alberta, May 28, 2026 (GLOBE NEWSWIRE) -- Calfrac Well Services Ltd. (“Calfrac” or “the Company”) (TSX: CFW) is making a significant move to enhance shareholder value, announcing that it has received approval from the Toronto Stock Exchange (the "TSX") to commence a normal course issuer bid (the "NCIB"). This strategic decision underscores the company's commitment to optimizing its capital structure and rewarding its investors.Under the NCIB, Calfrac is authorized to purchase up to 10% of its public float, with the purchases commencing on May 31, 2026, and continuing until May 30, 2027, or an earlier date if the bid is completed or terminated. The company plans to utilize its cash reserves to repurchase shares, which will be subsequently cancelled. This move is seen as a testament to Calfrac's robust financial health and its confidence in its future prospects.The launch of the NCIB is a key development for Calfrac, as it signals the company's proactive approach to capital management. By repurchasing shares, Calfrac aims to reduce the number of outstanding shares, thereby increasing the ownership stake of remaining shareholders. This can potentially lead to an increase in earnings per share, making the company more attractive to investors. Moreover, the NCIB demonstrates Calfrac's commitment to returning value to its shareholders, aligning with its goal of maximizing shareholder returns.The oil and gas services industry has been witnessing a resurgence in recent times, driven by the rebound in global energy demand. Calfrac, as a leading player in the industry, is poised to benefit from this trend. The company's decision to launch an NCIB is particularly noteworthy, given the current market dynamics. With oil prices stabilizing and demand expected to grow, Calfrac's proactive stance on capital management is likely to be viewed favorably by investors.Industry analysts are optimistic about Calfrac's future prospects, citing the company's strong operational capabilities and its strategic focus on key markets. The NCIB is seen as a positive step, as it not only enhances shareholder value but also demonstrates Calfrac's confidence in its financial position. As the energy industry continues to evolve, companies like Calfrac that prioritize prudent capital management are likely to be better positioned to navigate the challenges and opportunities that lie ahead.Looking ahead, Calfrac is expected to continue its focus on delivering strong operational performance, while also exploring opportunities to further optimize its capital structure. The success of the NCIB will depend on various factors, including market conditions and the company's financial performance. However, with its robust financial foundation and strategic focus, Calfrac is well-positioned to create value for its shareholders.In conclusion, Calfrac's decision to launch a normal course issuer bid is a significant development that is likely to be welcomed by shareholders. As the company navigates the evolving energy landscape, its commitment to prudent capital management and shareholder returns is expected to drive long-term value creation. With its strong operational capabilities and strategic focus, Calfrac is poised to continue its growth trajectory, making it an attractive prospect for investors in the oil and gas services sector.