Brief: PHX Energy Services To Buy Initial Fleet Of Schlumberger Powerdrive

PHX Energy Services

06/11/2018 01:03

Nov 5 (Reuters) - PHX Energy Services Corp  PHX.TO :
    * ENTERED INTO AGREEMENT TO PURCHASE AN INITIAL FLEET OF
SCHLUMBERGER POWERDRIVE ORBIT ROTARY STEERABLE SYSTEMS
    * BOARD OF DIRECTORS HAS APPROVED A PRELIMINARY 2019 CAPITAL
EXPENDITURES PROGRAM OF $15 MILLION
    * PURCHASE OF THIS INITIAL FLEET IS PART OF CORPORATION'S
2018
CAPITAL EXPENDITURES PROGRAM
    * 2019 PROGRAM IS EXPECTED TO BE FINANCED FROM A COMBINATION
OF
CASH FLOW FROM OPERATIONS AND CO'S UNUSED CREDIT FACILITIES

Source text for Eikon:  ID:nGNX1GVgDT 
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