Service & Supply | Oilfield Services | Capital Markets | Capital Expenditure
Total Energy Services Ups 2013 CapEx for Gas Compression Fleet
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Total Energy Services Inc. has increased its 2013 capital expenditure budget by $18.5 million to $114.3 million.
This increase is directed towards continued expansion of Total's natural gas compression rental fleet, with $38.5 million now budgeted for expansion of the compression rental fleet in 2013.
A significant portion of the increased demand for compression rental equipment has arisen from recent compression sales orders being converted to long term rentals. Specifically, $20.4 million of fabrication sales (for compression packages totaling 20,160 horsepower) that were received prior to September 30, 2013 and included in the September 30, 2013 compression fabrication sales backlog of $46.2 million have been converted to 48 month rentals. It is expected that all such rental units…
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