Western Energy Services Corp. Announces 2018 Capital Budget

Dec 07 16:12 2017 Print This Article

CALGARY, Dec. 7, 2017 /CNW/ – Western Energy Services Corp. (“Western”) (TSX: WRG) is pleased to announce its 2018 capital expenditure budget of approximately $20 million, including capital spending carried forward from 2017 of approximately $2 million.  The 2018 capital expenditure budget is expected to be comprised of $12 million of maintenance capital and $8 million of expansion capital.

Maintenance capital of $12 million includes $9 million in the contract drilling segment and $3 million in the production services segment.  Western continually monitors the activity of its fleet and will adjust the planned 2018 maintenance capital as … Continue Reading

The post Western Energy Services Corp. Announces 2018 Capital Budget appeared first on Canadian Oil Stocks.

Read More

About Article Author


A website dedicated to covering Canada’s oil sector and plays. It tracks the big players in the industry and how their moves impact the oil sector in general. It covers numerous oil resource plays, including Lower Amaranth, Bakken, Cardium, Doig, Montney, Pekisko, Lower Shaunavon and Viking.

Related Items

Stall Speed, Flattening Yield Curve, and the Longest Expansion

Data for Q1-2018 real GDP will be released on Friday, April 27. The Atlanta Fed’s GDPNow model predicts 2.0% q/q (saar) based on data available through April 17. That would put the y/y rate at 2.8%. I prefer the y/y metric because it solves the annoying “residual” seasonality problem that h ...

DUG Rockies: Whiting’s Aim To Be Pure-Play Bakken

Whiting Petroleum Corp.’s president and CEO, Brad Holly, kicked off Hart Energy’s DUG Rockies Conference & Exhibition April 25 with a discussion of the E&P’s game-changing strategies in the Williston Basin. But an additional narrative hook came during the post-presentation Q&A, when Holly said ...

Moody’s: E&P Sector Remains Positive On Production, EBITDA Growth Amid Capital Efficiency Focus

The outlook for the global independent exploration and production (E&P) sector remains positive, Moody’s Investors Service said in a new report released April 25. EBITDA will continue to grow strongly over the next 12 to 18 months, even as commodity prices stay within a moderate range, although hi ...

US Energy Shares Outperform As Companies Begin To Report

After losing ground and underperforming the broad market in 2017, U.S. energy shares are climbing fast with oil prices and gaining attention from investors who think the trend may hold. Oil prices are near their highest since late 2014 thanks to strong demand and supply cuts by the Organization of t ...

A Bullish Position to Optimize Risk-Reward

As the following graph shows, shares in Royal Bank of Canada (RY) veered into correction territory after peaking at $108.52 on January 22, 2018. At the current price of $97.98, the security is down by over 9.7%. With the RSI (Relative Strength Index) indicator on the rise and the stochastic oscilla ...