Trican Announces Its 2013 Capital Budget
December 06 2012 - 6:16PM
Marketwired
Trican Well Service Ltd. (TSX:TCW) ("Trican" or "the Company") is
pleased to announce that the Board of Directors has approved a 2013
capital budget of $32.3 million. This capital budget is directed at
maintaining Trican's global equipment fleet and infrastructure and
is reflective of Trican's commitment to providing high quality
equipment and service to our customers around the world. Given the
current operating environment in all of our key regions, minimal
expansion capital initiatives have been included in the 2013
capital budget. Trican will continue to closely monitor its capital
program and make any necessary modifications as greater visibility
is obtained throughout 2013.
Additional information regarding Trican including Trican's most
recent Annual Information Form is available under Trican's profile
on SEDAR (www.sedar.com).
Headquartered in Calgary, Alberta, Trican has operations in
Canada, the United States, Russia, Kazakhstan, Australia and North
Africa. Trican provides a comprehensive array of specialized
products, equipment and services that are used during the
exploration and development of oil and gas reserves.
FORWARD-LOOKING INFORMATION
This document contains information that constitutes
forward-looking information and financial outlook within the
meaning of applicable securities legislation. This forward-looking
information and financial outlook is identified by the use of terms
and phrases such as "anticipate," "achieve", "achievable,"
"believe," "estimate," "expect," "intend", "plan", "planned", and
other similar terms and phrases. This outlook and information
speaks only as of the date of this document and we do not undertake
to publicly update the forward-looking information contained in
this document except in accordance with applicable securities laws.
This forward-looking information and financial outlook
includes:
-- Expectation that the 2013 capital budget will be $32.3 million;
-- Expectation that Trican will make any necessary modifications to the
2013 capital budget as greater visibility is obtained throughout 2013.
Forward-looking information and financial outlook is based on
current expectations, estimates, projections and assumptions, which
we believe are reasonable but which may prove to be incorrect and
therefore such forward-looking information and financial outlook
should not be unduly relied upon. In addition to other factors and
assumptions which may be identified in this document, assumptions
have been made regarding, among other things: industry activity;
the general stability of the economic and political environment;
effect of market conditions on demand for the Company's products
and services; the ability to obtain qualified staff, equipment and
services in a timely and cost efficient manner; the ability to
operate its business in a safe, efficient and effective manner; the
performance and characteristics of various business segments; the
effect of current plans; the timing and costs of capital
expenditures; future oil and natural gas prices; currency, exchange
and interest rates; the regulatory framework regarding royalties,
taxes and environmental matters in the jurisdictions in which the
Company operates; and the ability of the Company to successfully
market its products and services.
Forward-looking information and financial outlook is subject to
a number of risks and uncertainties, which could cause actual
results to differ materially from those anticipated. These risks
and uncertainties include: fluctuating prices for crude oil and
natural gas; changes in drilling activity; general global economic,
political and business conditions; weather conditions; regulatory
changes; the successful exploitation and integration of technology;
customer acceptance of technology; success in obtaining issued
patents; the potential development of competing technologies by
market competitors; and availability of products, qualified
personnel, manufacturing capacity and raw materials. In addition,
actual results could differ materially from those anticipated in
the forward-looking information and financial outlook provided
herein as a result of the risk factors set forth under the section
entitled "Risk Factors" in our Annual Information Form dated March
22, 2012.
Contacts: Trican Well Service Ltd. Dale Dusterhoft Chief
Executive Officer (403) 266-0202 (403) 237-7716
(FAX)ddusterhoft@trican.ca Trican Well Service Ltd. Michael Baldwin
Vice President, Finance & CFO (403) 266-0202 (403) 237-7716
(FAX)mbaldwin@trican.ca Trican Well Service Ltd. Gary Summach
Director of Reporting and Investor Relations (403) 266-0202 (403)
237-7716 (FAX)gsummach@trican.ca Trican Well Service Ltd. 2900, 645
- 7th Avenue S.W. Calgary, Alberta T2P 4G8 www.trican.ca
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