Brief: Step Energy Services Announces Capital Spending And Balance Sheet Update

STEP Energy Services

09/01/2023 11:53

Jan 9 (Reuters) - Step Energy Services Ltd  STEP.TO :
    * STEP ENERGY SERVICES ANNOUNCES CAPITAL SPENDING AND
BALANCE
SHEET UPDATE AS WELL AS COMMENTARY ON FOURTH QUARTER 2022
ACTIVITY AND A STRONG FIRST QUARTER 2023 OUTLOOK
    * STEP ENERGY SERVICES LTD - BOARD OF DIRECTORS HAS APPROVED
A $45
MILLION INCREASE IN 2023 CAPITAL PROGRAM
    * STEP ENERGY SERVICES LTD - STEP'S Q4 ACTIVITY LEVELS IN
CANADA
WERE SEQUENTIALLY LOWER FROM Q3 OF 2022
    * STEP ENERGY SERVICES LTD - Q1 OF 2023 IS EXPECTED TO SEE
HIGH
LEVELS OF UTILIZATION IN CANADA AND U.S.
    * STEP ENERGY SERVICES LTD - ANTICIPATES THAT ITS FIVE
CANADIAN
AND THREE U.S. FRACTURING FLEETS WILL BE FULLY BOOKED THROUGH Q1
    * STEP ENERGY SERVICES LTD - EXPECTS CANADIAN MARKET TO
SHIFT FROM
AN OVERSUPPLIED POSITION IN Q4 OF 2022 TO A MORE BALANCED
POSITION IN Q1 OF 2023

Source text for Eikon:  ID:nGNX4J2TtH 
Further company coverage:  STEP.TO 
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