Total Energy Services Inc. Announces Preliminary 2024 Capital Expenditure Budget
09 Janvier 2024 - 2:00AM
Total Energy Services Inc. (TSX:TOT) ("Total" or the “Company”)
announces its preliminary 2024 capital expenditure budget of $46.5
million which includes $22.4 million of expansion capital and $24.1
million for equipment maintenance and recertifications.
The 2024 expansion capital budget includes $17.4
million for rig upgrades in the Contract Drilling Services and Well
Servicing segments. In addition, $5.0 million of expansion capital
will be directed towards continued growth of the North American
natural gas compression rental business.
The $24.1 million capital maintenance budget
will be directed towards equipment re-certifications and
maintenance in all business segments and the purchase of new drill
pipe.
Approximately $14.2 million of 2023 capital
expenditure commitments will carry forward into 2024. The Company
intends to finance these remaining capital commitments and its 2024
capital expenditure budget with cash on hand and cash flow from
operations.
Total Energy provides contract drilling
services, rentals and transportation services, well servicing and
compression and process equipment and service to energy and other
resource industries from operation centers in North America and
Australia. The common shares of Total Energy are listed and trade
on the TSX under the symbol TOT.
For further information, please contact Daniel
Halyk, President & CEO at (403) 216-3921 or by e-mail at:
investorrelations@totalenergy.ca or visit our website at
www.totalenergy.ca.
The TSX has neither approved nor disapproved of
the information contained herein.
Total Energy Services (TSX:TOT)
Graphique Historique de l'Action
De Avr 2024 à Mai 2024
Total Energy Services (TSX:TOT)
Graphique Historique de l'Action
De Mai 2023 à Mai 2024