Considered the largest privately-held hydraulic fracturing company in Canada Sanjel announced it was selling its Canadian fracturing, coiled tubing and cementing assets to the ARC Financial-sponsored firm STEP Energy Services and its similar US-based operations to Liberty Oilfield Services.

Sanjel also initiated a court-approved restructuring process to close both deals.

It obtained an initial order from the Court of Queen’s Bench under Canada’s Companies’ Creditors Arrangement Act (CCAA) and applied for recognition of the initial order under Chapter 15 of the US Bankruptcy Code.

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