As previously disclosed, C&J Energy Services Ltd. (“C&J”) and certain of its direct and indirect subsidiaries (the “Company”), including C&J Corporate Services (Bermuda) Ltd. (together with C&J, collectively the “Bermudian Entities”), C&J Energy Production Services-Canada Ltd. and Mobile Data Technologies Ltd. (together, the “Canadian Entities”), entered into a Restructuring Support and Lock-Up Agreement (the “Restructuring Support Agreement”) with certain holders of loans (the “Lenders”) under that certain Credit Agreement, dated as of March 24, 2015 (as amended and restated from time to time with all supplements and exhibits thereto, the “Credit Agreement”). On July 14, 2016, the Company entered into the First Amendment to the Restructuring Support Agreement (the “RSA Amendment”) with the Lenders party thereto. Lenders that beneficially own or manage greater than 83% of the aggregate principal amount of loans under the Credit Agreement are now parties to the Restructuring Support Agreement.

The RSA provides, among other things, that the date by which the Company shall have commenced a voluntary reorganization under chapter 11 of the U.S. Bankruptcy Code was extended from July 17, 2016 to July 20, 2016. As previously reported, the Company will also commence ancillary proceedings in Canada on behalf of the Canadian Entities and a provisional liquidation proceeding in Bermuda on behalf of the Bermudian Entities. The Company expects to continue operations in the ordinary course throughout the restructuring process.

In addition, C&J obtained and entered into an Amendment and Extension of Forbearance Period Under Second Forbearance (the “Forbearance Amendment”) with certain of the lenders party to the Credit Agreement and Cortland Capital Market Services LLC, as administrative agent (the “Administrative Agent”). Pursuant to the Forbearance Amendment, the Administrative Agent and the lenders party thereto agreed to extend the currently effective forbearance agreement through July 20, 2016 in respect of C&J’s failure to satisfy the minimum cumulative consolidated EBITDA covenant set forth in the Credit Agreement as of March 31, 2016 and any non-payment by C&J of the interest, commitment fees and/or letter of credit fees due to the lenders thereunder.

The foregoing descriptions of the RSA Amendment and Forbearance Amendment are qualified in their entirety by reference to the full text of such amendments, copies of which are filed as Exhibit 10.1 and Exhibit 10.2, respectively, to this Current Report on Form 8-K and are incorporated herein by reference.