C&J Energy Services Ltd. – Waiver and Release (June 17th, 2016)
Whereas at the request of the Board of Directors (the Board) of C&J Energy Services Ltd. (formerly known as Nabors Red Lion Limited, C&J) I, RANDALL C. MCMULLEN, JR., assumed the position of C&Js Chief Executive Officer upon the death of C&Js founder, Chief Executive Officer and Chairman, Josh Comstock, in March 2016, and maintained my existing positions as C&Js President and Chief Financial Officer and as a member of the Board;
C&J Energy Services Ltd. – Forbearance Agreement (June 1st, 2016)
THIS FORBEARANCE AGREEMENT, dated as of May 31, 2016 (this Agreement), is entered into by and between C&J Energy Services Ltd. (Parent), CJ Lux Holdings S.a r.l., a Luxembourg private limited liability company (societe a responsabilite limitee), having its registered office at 15, rue Edward Steichen, L-2540 Luxembourg, having a share capital of $2,000,000 and registered with the Luxembourg Register of Commerce and Companies under number B190.857 (Luxembourg Borrower), CJ Holding Co. (U.S. Borrower and, together with Parent and Luxembourg Borrower, the Borrowers), certain other Loan Parties identified on the signature pages hereto, Bank of America, N.A., in its capacity as Administrative Agent under the Credit Agreement (as defined below) (in such capacity, the Agent) and the lenders appearing on the signature pages hereto (the Consenting Lenders). Each of the foregoing shall be referred to herein as a Party and collectively as the Parties.
C&J Energy Services Ltd. – C&J Energy Services Announces First Quarter 2016 Results (May 10th, 2016)
HAMILTON, BERMUDA, May 10, 2016 - C&J Energy Services Ltd. (NYSE: CJES) today reported a net loss of ($428.4 million), or ($3.65) per diluted share, on revenue of $269.6 million for the first quarter of 2016, and an Adjusted Net Loss(1) of ($71.1 million), or ($0.61) per diluted share(1). Adjusted Net Loss(1) excludes the following, net of tax: a $337.0 million, or $2.87 per diluted share, impairment charge; a $8.6 million, or $0.07 per diluted share, charge related to severance, facility closures and other one-time costs; a $6.4 million, or $0.05 per diluted share, non-recurring charge related to share-based compensation; a $3.0 million, or $0.03 per diluted share, charge related to costs associated with the March 2015 combination (the "Nabors Transaction") of C&J Energy Services, Inc. with the completion and production services business of Nabors Industries Ltd.; a $1.2 million, or $0.01 per diluted share, customer settlement/bad debt write-off; and a $1.0 million, or $0.01 per dilut
C&J Energy Services Inc. – Project Navy Backstop Commitment Letter (March 6th, 2015)
Reference is made (i) to the Amended and Restated Commitment Letter, dated as of July 15, 2014, among C&J Energy Services, Inc., a Delaware corporation (the Company or you), Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated (MLPFS), Bank of America, N.A. (BofA), WF Investment Holdings, LLC (WF Investment), Wells Fargo Securities, LLC (WFS), Wells Fargo Bank, National Association (WF), J.P. Morgan Securities LLC (JPMS), JPMorgan Chase Bank, N.A. (JPMCB), Capital One Securities, Inc. (Capital One Securities), Capital One, N.A. (Capital One), Regions Capital Markets, a division of Regions Bank (RCM), Regions Bank (Regions), Comerica Bank (Comerica) and The Bank of Nova Scotia (BNS); Citi (as defined below), together with MLPFS, BofA, WF Investment, WFS, WF and JPMS, Capital One Securities, Capital One, RCM, Regions, BNS, each a Commitment Party and collectively, the Commitment Parties, we or us), Amegy Bank National Association (Amegy), DNB Markets, Inc.