Total Energy Services plans $61.9 million in capital spending for 2025
Advertisement
Read this article for free:
or
Already have an account? Log in here »
To continue reading, please subscribe:
Monthly Digital Subscription
$0 for the first 4 weeks*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*No charge for 4 weeks then price increases to the regular rate of $19.00 plus GST every four weeks. Offer available to new and qualified returning subscribers only. Cancel any time.
Monthly Digital Subscription
$4.75/week*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Billed as $19 plus GST every four weeks. Cancel any time.
To continue reading, please subscribe:
Add Free Press access to your Brandon Sun subscription for only an additional
$1 for the first 4 weeks*
*Your next subscription payment will increase by $1.00 and you will be charged $16.99 plus GST for four weeks. After four weeks, your payment will increase to $23.99 plus GST every four weeks.
Read unlimited articles for free today:
or
Already have an account? Log in here »
Hey there, time traveller!
This article was published 07/01/2025 (339 days ago), so information in it may no longer be current.
CALGARY – Total Energy Services Inc. says it is planning $61.9 million in capital spending for 2025.
The company says the plan comprises $34.3 million of expansion capital and $27.6 million for equipment maintenance and recertifications.
The expansion spending includes $27.8 million for Canadian drilling and service rig upgrades and $6.5 million for continued growth of the North American natural gas compression rental fleet and parts and service business.
Total Energy also says $16.6 million of 2024 capital spending commitments, primarily related to Australian drilling and service rig upgrades, will carry forward into 2025.
The company plans to finance the capital spending with cash on hand and cash flow from operations.
Total Energy provides contract drilling services, rentals and transportation services in North America and Australia.
This report by The Canadian Press was first published Jan. 7, 2025.
Companies in this story: (TSX:TOT)