Western Energy Services Corp. Announces 2018 Capital Budget

About this update from Western Energy Services Corp.

[{"type":"text","content":"\n\n\n\nWestern Energy Services Corp. Announces 2018 Capital Budget\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, Dec. 7, 2017\n\n\n\nCALGARY, 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.\n\nMaintenance 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 warranted.\n\nExpansion capital of $8 million is driven by specific customer requirements, which include upgrades for Western's contract drilling fleet and additional oilfield rental equipment for Western's rental division, Aero Rental Services.  Western remains committed to ensuring that funds will only be allocated to projects where capital can generate appropriate returns.\n\nWestern expects that its 2018 capital budget will contribute to the preservation of its balance sheet.  The planned spending further demonstrates Western's commitment to maintaining its premier drilling and well servicing rig fleets, while responsibly allocating expansion capital to maximize stakeholder returns.\n\nAbout WesternWestern is an oilfield service company which provides contract drilling services in Canada through its Horizon Drilling division and in the United States through its wholly-owned subsidiary, Stoneham Drilling Corporation. In Canada, Western also provides well servicing through its Eagle Well Servicing division and provides oilfield rental services through its Aero Rental Services division.\n\nForward Looking Statements and Information\n\nThis press release contains forward-looking statements and forward-looking information within the meaning of applicable...

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