Service & Supply | Oilfield Services | Capital Markets | Capital Expenditure
Calfrac Announces Capital Budget for 2014
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Calfrac Well Services Ltd. has announced a 2014 capital budget of approximately $120 million.
The capital program is focused on maintenance and support capital and additional investment in logistics equipment. Approximately $33 million of capital is allocated to support Calfrac's growing international operations, including further investment in coiled tubing and fracturing equipment in Russia and Argentina, as the Company's outlook for activity in these regions continues to improve. In addition, approximately $20 million remaining from Calfrac's 2013 capital program is expected to be spent in 2014.
The 2014 capital program reflects Calfrac's ongoing commitment to maintain its equipment fleet in peak operating condition, while developing further enhancements to service quality and…
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