Total Energy Services Inc.
TSX : TOT

Total Energy Services Inc.

January 17, 2011 08:45 ET

Total Energy Services Inc. Announces Preliminary 2011 Capital Expenditure Budget

CALGARY, ALBERTA--(Marketwire - Jan. 17, 2011) - Total Energy Services Inc. ("Total") (TSX:TOT) announces its preliminary 2011 capital expenditure budget of $21.3 million. Included in this budget is $10.4 million for expansion of the natural gas compression rental fleet, $5.1 million of maintenance capital expenditures (which includes $2.1 million of capital leases related to light duty vehicles), $3.8 million of drilling rig upgrades and ancillary rig equipment and $2.0 million of capital expenditures related to the continued expansion of the natural gas compression parts and service business. 

Total intends to finance its preliminary 2011 capital expenditure budget from operating cash flow and its existing credit facility. Total's preliminary 2011 capital expenditure budget provides Total with considerable flexibility to pursue additional investment opportunities as they may arise. 

Total is a growth oriented energy services corporation involved in contract drilling services, rentals and transportation services and the fabrication, sale, rental and servicing of natural gas compression equipment. The common shares of Total are listed and trade on the TSX under the symbol "TOT".

The Toronto Stock Exchange has neither approved nor disapproved of the information contained herein.

Contact Information