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CWC Energy Services declares 2016 capital expenditure budget


Published Dec 9, 2015
CWC Energy Services Corp.

CWC Energy Services Corp. says that the Board of Directors has approved a 2016 capital expenditure budget of $2.6 million comprised entirely of maintenance and infrastructure capital related to recertifications, additions and upgrades to field equipment for the drilling rigs, service rigs and coil tubing divisions as well as information technology infrastructure. CWC intends to finance its 2016 capital expenditures budget from operating cash flows.

The Company continues to be committed to disciplined fiscal management and pursuit of opportunities driven by the current industry environment. Management continues to evaluate and assess merger and acquisition opportunities of oilfield service businesses and assets that are best-in-class that would have the potential to increase shareholder value.

Tags: CWC Energy Services Corp.




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