Service & Supply | Oilfield Services | Capital Markets | Capital Expenditure
Calfrac's 2013 Budget To Focus on Latin America
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Calfrac Well Services Ltd. has reported a 2013 capital budget of approximately $117 million. The capital program is focused on maintenance and support capital and further investment in logistics equipment.
Approximately $25 million of capital is allocated to support Calfrac's growing Latin American operations, including an investment in coiled tubing and fracturing equipment, as the Company's outlook for activity in this region continues to improve. The 2013 capital program does not contemplate any additional expansion capital for Calfrac's Canadian, United States and Russian operations. In addition, approximately $110 million remaining from Calfrac's existing capital program is expected to be spent in 2013.
The 2013 capital program demonstrates Calfrac's continued commitment to maintain…
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