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Rising Horsepower Demand Prompts Calfrac To Boost Budget 70%

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By Darren Barbee, Hart Energy
July 11, 2014

Faced with significant demand growth, Calfrac Well Services Ltd. (OTC: CFWFF, TO: CFW.TO) updated its 2014 capital budget by about 71%, to $360 million including carryover capital, the company said July 3.

Calfrac said it will add 155,000 horsepower (hp) to meet increased demand in the United States, Canada and Argentina by increasing its capital budget $150 million from $210 million.

Calfrac’s move is consistent with rising appetite for frack hp, said Jeff Dietert, managing director, head of research, Simmons & Co. International.

The majority of the capital program increase will go ...

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