- Total Energy Services ( OTCPK:TOTZF ) said Tuesday it has set a preliminary 2023 capital expenditure budget of $51.7 million, which includes $25.6 million of expansion capital and $26.1 million for equipment maintenance and recertifications.
- The 2023 expansion capital budget includes $18.4 million for rig upgrades in the Contract Drilling Services and Well Servicing segments, the company said.
- Total said it intends to finance its preliminary 2023 capital expenditure budget with cash on hand and cash flow from operations.
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Total Energy Services sets 2023 capex budget at $51.7M