Exploration & Production | Service & Supply | Oilfield Services
Western Energy Services Corp. Announces 2014 Capital Budget
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Western Energy Services Corp. has announced its planned 2014 capital expenditure budget of approximately $65 million, which includes $12 million in expansion capital, $40 million in maintenance capital expenditures and $13 million in carry forward from Western's 2013 capital program.
Expansion capital of $12 million mainly relates to $10 million in additional oilfield rental equipment for Western's division AERO Rental Services.
Maintenance capital of $40 million includes $20 million in drilling equipment, $10 million in critical spare equipment, and $7 million in well servicing equipment.
In addition, the $13 million of carry forward from Western's 2013 capital program is for the completion of one telescopic Efficient Long Reach double drilling rig, as well as the completion of two 1,500…
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