Trican's Board of Directors Approves 2014 Capital Budget
12 Dezembro 2013 - 9:23PM
Marketwired
Trican's Board of Directors Approves 2014 Capital Budget
CALGARY, ALBERTA--(Marketwired - Dec 12, 2013) - Trican Well
Service Ltd. (TSX:TCW) ("Trican" or "the Company") is pleased to
announce that the Board of Directors has approved an initial 2014
capital budget of $32.7 million. This capital budget is a prudent
budget reflecting the current operating environment. Management is
confident that this budget combined with carryover capital
expenditures from its 2013 capital budget properly maintains
Trican's global equipment fleet and infrastructure at a very high
standard. Trican regularly reviews its capital equipment
requirements and will continue to follow its policy of adjusting
the capital budget on a quarterly basis to reflect changing
operating conditions and capital equipment needs.
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
Norway. 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 2014 capital budget will be $32.7
million;
- Expectation that Trican will regularly review their capital
equipment requirement and will continue to follow their policy of
adjusting the capital budget on a quarterly basis to reflect
changing operating conditions and capital equipment needs.
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
21, 2013.
Please visit our website at www.trican.ca.
Requests for shareholder information should be directed
to:Trican Well Service Ltd.Dale DusterhoftChief Executive
Officerddusterhoft@trican.caTrican Well Service Ltd.Michael
BaldwinSr. Vice President, Finance &
CFOmbaldwin@trican.caTrican Well Service Ltd.Gary SummachDirector
of Reporting and Investor Relationsgsummach@trican.caTrican Well
Service Ltd.Phone: (403) 266 - 0202Fax: (403) 237 - 77162900, 645 -
7th Avenue S.W.Calgary, Alberta T2P 4G8www.trican.ca
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