Service & Supply | Oilfield Services | Capital Markets | Capital Expenditure
Total Energy Services Sets 2016 Capex at $12.1 Million
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Total Energy Services Inc. announces its preliminary 2016 capital expenditure budget of $12.1 million.
Included in this budget is $3.9 million (US $2.75 million) for the purchase of the operating assets of a United States oilfield equipment rental company, $3.0 million for expansion of the natural gas compression rental fleet, $2.2 million for the purchase of equipment for continued growth within the Compression and Process Services division and $3.0 million for maintenance capital expenditures. Total has no capital commitments from 2015 that will carry into 2016.
The rental acquisition consists of a complementary oilfield surface equipment rental business that will be integrated into the Company's Rentals and Transportation Services division's existing United States operations effective…
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