Service & Supply | Oilfield Services | Capital Markets | Capital Expenditure
Total Energy Services Ups 2013 CapEx
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Total Energy Services Inc. has increased its 2013 capital expenditure budget to $68.6 million.
Included in this $23.7 million increase is $18.6 million for Total's Rentals and Transportation Services division and $5.1 million for infrastructure to support existing operations and future growth in all divisions.
The capital allocated to the Rentals and Transportation Services division will be directed towards the replacement or upgrade of approximately 260 pieces of rental equipment and 11 heavy trucks and trailers and the addition of approximately 60 pieces of new rental equipment. Upon completion of this capital program and the disposal of redundant assets, which is expected by the end of 2013, Total will have an owned heavy truck fleet consisting of 106 units with an average age of three…
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