Service & Supply | Oilfield Services | Capital Markets | Capital Expenditure
Total Energy Services Announces 2015 Capex
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Total Energy Services Inc. has announced its preliminary 2015 capital expenditure budget of $13.6 million.
Included in this budget is $5.0 million for expansion of the natural gas compression rental fleet, $5.9 million for maintenance capital expenditures and $2.7 million for the purchase of equipment for the Compression and Process Services division.
In addition, Total has $5.8 million of remaining 2014 capital expenditure commitments that will carry forward into 2015.
Total intends to finance the capital expenditures detailed above with cash on hand and cash flow from operations. The Company's $35 million credit facility is currently undrawn and fully available. Total's strong financial position, disciplined dividend policy and minimal capital expenditure commitments position the Company…
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