Western Energy Services Corp Announces 2012 Capital Budget
Western Energy Services Corp. (WRG.TO) announced its planned 2012 capital expenditure budget of approximately $80 million, which includes $30 million in expansion capital and $50 million in maintenance capital expenditures. Included in the capital budget is $28 million of carry forward from the 2011 budget, of which $17 million relates to expansion capital with the remaining $11 million relating to maintenance capital. Western will finance its 2012 capital expenditure budget from operating cash flows, which will maintain our conservative balance sheet going into 2012 and position the Company for further opportunities.
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