Total Energy Services Inc.

Total Energy Services Inc.

January 16, 2015 13:51 ET

Total Energy Services Inc. Announces Preliminary 2015 Capital Expenditure Budget

CALGARY, ALBERTA--(Marketwired - Jan. 16, 2015) - Total Energy Services Inc. ("Total" or the "Company") (TSX:TOT) announces its preliminary 2015 capital expenditure budget of $13.6 million. Included in this budget is $5.0 million for expansion of the natural gas compression rental fleet, $5.9 million for maintenance capital expenditures and $2.7 million for the purchase of equipment for the Compression and Process Services division.

In addition, Total has $5.8 million of remaining 2014 capital expenditure commitments that will carry forward into 2015.

Total intends to finance the capital expenditures detailed above with cash on hand and cash flow from operations. The Company's $35 million credit facility is currently undrawn and fully available. Total's strong financial position, disciplined dividend policy and minimal capital expenditure commitments position the Company well as the North American energy services industry enters what is expected to be a challenging year.

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 and process 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