CALGARY, Alberta, Feb. 02, 2026 (GLOBE NEWSWIRE) -- Total Energy Services Inc. (“Total Energy”) (TSX:TOT) will conduct a conference call and webcast following the release of its financial results for the three months ended December 31, 2025. The financial results will be released prior to the conference call. Daniel Halyk, President and CEO will host the call. Open to:Shareholders and other interested personsDate:March 11, 2026Time:9:00 a.m. (Mountain Time)Call:(800) 715-9871 or (647) 932-3411 A live webca ...

Capital Expenditure Budget - Total Energy Services Inc. has announced a preliminary 2026 capital expenditure budget of $55.8 million, which includes $34.8 million for maintenance capital and $21.0 million for growth capital [1] - The capital expenditure program will be financed through cash on hand and cash flow from operations [1] Maintenance Capital Allocation - Of the $34.8 million maintenance capital budget, $28.4 million will be allocated to equipment maintenance, re-certifications, and the purchase of new drill pipe [2] - The remaining $6.4 million is non-recurring, with $4.0 million for upgrading enterprise resource planning systems and $2.4 million for acquiring a leased operating facility in the United States [2] Growth Capital Focus - The $21.0 million growth capital is primarily aimed at constructing a new service rig for deployment in Australia and expanding the North American natural gas compression fleet [3] - The Australian service rig is expected to be operational by the second quarter of 2027 under a long-term contract [3] Carryover Commitments - Approximately $24.5 million of 2025 capital expenditure commitments will carry into 2026, mainly for expanding the CPS segment's fabrication capacity in the U.S., upgrading an idle Australian service rig, and enhancing several Canadian drilling rigs [4] - The CPS segment's expansion is anticipated to be completed by the first quarter of 2027, while the Australian service rig is expected to be operational by the second quarter of 2026 [4] Dividend Increase - The Board of Directors has approved a 20% increase in the quarterly dividend to $0.12 per common share, effective for the quarter ending March 31, 2026 [5] Company Overview - Total Energy provides contract drilling services, rentals, transportation services, well servicing, and compression and process equipment to energy and other resource industries from operational centers in North America and Australia [6]

Core Viewpoint - Total Energy Services Inc. reported its consolidated financial results for the third quarter of 2025, showing an increase in revenue but declines in operating income, EBITDA, and net income compared to the same period in 2024. The company experienced improved performance in Australia but faced challenges in North America due to market conditions and cost inflation [1][3]. Financial Highlights - Revenue for the three months ended September 30, 2025, was $260.7 million, an 8% increase from $241.9 million in 2024. For the nine months, revenue rose 16% to $763.0 million from $660.0 million [2]. - Operating income decreased by 29% to $19.4 million from $27.3 million year-over-year, while EBITDA fell 15% to $42.9 million from $50.5 million [2]. - Net income for the third quarter was $14.6 million, down 26% from $19.7 million in 2024, with diluted earnings per share at $0.38, a 24% decrease from $0.50 [2][27]. Segment Performance Contract Drilling Services (CDS) - Revenue for the CDS segment was $82.4 million, a 5% decline from $86.6 million in 2024. Year-to-date revenue increased by 4% to $244.7 million [4][5]. - The decline in North American onshore drilling activity negatively impacted the segment, although increased activity in Australia partially offset this decline [5]. Rentals and Transportation Services (RTS) - RTS segment revenue increased by 8% to $21.0 million from $19.4 million in 2024, with a 1% increase in nine-month revenue to $60.3 million [6][7]. - Despite the revenue increase, EBITDA decreased by 7% to $7.6 million, reflecting competitive market conditions [6]. Compression and Process Services (CPS) - CPS segment revenue rose 14% to $125.8 million from $110.6 million in 2024, with a 23% increase in nine-month revenue to $365.3 million [9][10]. - However, EBITDA for the segment fell 22% to $15.1 million due to foreign currency exchange impacts and cost inflation [9][10]. Well Servicing (WS) - WS segment revenue increased by 24% to $31.5 million from $25.3 million in 2024, with a 38% increase in nine-month revenue to $92.8 million [11][14]. - The increase was driven by higher activity in Australia, although lower pricing in Canada and reduced utilization in the U.S. negatively impacted EBITDA [14]. Financial Position - Total assets increased by 8% to $1.02 billion from $937.7 million in 2024, with long-term debt rising by 24% to $98.2 million [2][16]. - The company reported positive working capital of $113.5 million, including $57.1 million in cash and $85.0 million in available credit [16][22]. Capital Expenditures and Outlook - Total Energy invested $17.2 million in capital expenditures during the third quarter, primarily for upgrading drilling and service rigs [15][22]. - The company anticipates continued pressure on oil prices due to global economic uncertainty, but stable conditions in Australia and strong demand for compression and process equipment may provide some offset [18][19].

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Core Viewpoint - Total Energy Services Inc. has announced a normal course issuer bid to repurchase shares, which is expected to enhance shareholder value by increasing their equity stake in the company [1][4]. Group 1: Normal Course Issuer Bid Details - The normal course issuer bid will commence on October 21, 2025, and will expire on October 20, 2026, with the Toronto Stock Exchange having accepted the notice [1]. - Total Energy may purchase up to 1,841,300 shares, which is 5% of the total outstanding shares as of October 16, 2025, with a maximum daily purchase limit of 12,837 shares based on the average daily trading volume [2]. Group 2: Previous Share Buyback Performance - In the previous normal course issuer bid that ended on October 20, 2025, Total Energy purchased 1,679,360 shares at an average price of $11.33 per share, representing 88% of the authorized shares for repurchase [3]. Group 3: Financial Stewardship and Shareholder Value - Total Energy has returned approximately $360 million to its shareholders through dividends, distributions, and share buybacks, including $6.66 per share in dividends and distributions [4]. - The company views the current market conditions as favorable for share repurchases, which is anticipated to benefit remaining shareholders by increasing their equity investment in Total Energy [4]. Group 4: Company Overview - Total Energy is headquartered in Calgary, Alberta, and provides various services including contract drilling, equipment rentals, and well servicing to the energy and resource industries in North America and Australia [5].

Core Viewpoint - Total Energy Services Inc. has successfully extended its $170 million revolving syndicated bank credit facilities to January 10, 2029, with no changes to the terms and conditions of the facility [1]. Company Overview - Total Energy Services Inc. is headquartered in Calgary, Alberta, and provides a range of services including contract drilling, equipment rentals, transportation services, well servicing, and compression and process equipment to the energy and other resource industries [2]. - The company's common shares are listed on the TSX under the symbol "TOT" [2].

Core Viewpoint - Total Energy Services Inc. has successfully extended its $170 million revolving syndicated bank credit facilities to January 10, 2029, with no changes to the terms and conditions of the facility [1]. Company Overview - Total Energy Services Inc. is headquartered in Calgary, Alberta, and provides a range of services including contract drilling, equipment rentals, transportation services, well servicing, and compression and process equipment to the energy and other resource industries [2]. - The company's common shares are listed on the TSX under the symbol "TOT" [2].

Company Overview - Total Energy Services Inc. is headquartered in Calgary, Alberta, and provides contract drilling services, equipment rentals, transportation services, well servicing, and compression and process equipment and service to the energy and other resource industries [3]. Financial Results Announcement - Total Energy will release its financial results for the three months ended September 30, 2025, prior to a conference call scheduled for November 13, 2025, at 9:00 a.m. (Mountain Time) [1]. - The conference call will be hosted by Daniel Halyk, President and CEO, and will be open to shareholders and other interested persons [1]. Access to Information - A live webcast of the conference call will be available on Total Energy's website, and an archived version will be accessible shortly after the live event [2]. - A recording of the conference call will be available until December 13, 2025, by dialing a specified number with a passcode [2].

Core Viewpoint - Total Energy Services Inc. reported record financial results for the second quarter of 2025, driven by increased activity in Australia and strong demand in North America, despite declines in U.S. drilling and completion activity [2][18]. Financial Highlights - Revenue for the three months ended June 30, 2025, was $250.4 million, a 17% increase from $213.3 million in 2024. For the six months, revenue rose 20% to $502.3 million from $418.0 million [2]. - Operating income increased by 53% to $22.3 million in Q2 2025 from $14.6 million in Q2 2024, and for the six months, it rose 32% to $48.4 million [2]. - EBITDA for Q2 2025 was $45.4 million, up 21% from $37.4 million in Q2 2024, while for the six months, it increased 19% to $95.9 million [2]. - Net income attributable to shareholders for Q2 2025 was $17.1 million, an 11% increase from $15.5 million in Q2 2024, and for the six months, it rose 17% to $36.1 million [2]. Segment Performance Contract Drilling Services (CDS) - Revenue for CDS in Q2 2025 was $71.2 million, a 5% increase from $67.9 million in Q2 2024. For the six months, revenue rose 9% to $162.3 million [5]. - EBITDA for CDS increased by 11% to $16.0 million in Q2 2025 from $14.5 million in Q2 2024 [5]. - The segment experienced a decline in U.S. activity but was offset by increased Australian activity following the acquisition of Saxon [6]. Rentals and Transportation Services (RTS) - RTS revenue decreased by 9% to $16.2 million in Q2 2025 from $17.8 million in Q2 2024, with a 2% decline for the six months [7]. - EBITDA for RTS fell by 8% to $5.6 million in Q2 2025 [7]. - The decline was attributed to lower industry activity and a change in the mix of equipment operating [8]. Compression and Process Services (CPS) - CPS revenue increased by 22% to $133.2 million in Q2 2025 from $109.5 million in Q2 2024, and for the six months, it rose 28% to $239.4 million [9]. - EBITDA for CPS grew by 26% to $22.2 million in Q2 2025 [9]. - The segment benefited from increased fabrication sales and parts and service activity [10]. Well Servicing (WS) - WS revenue surged by 64% to $29.8 million in Q2 2025 from $18.2 million in Q2 2024, with a 47% increase for the six months [11]. - EBITDA for WS increased by 66% to $3.5 million in Q2 2025 [11]. - The growth was driven by increased activity in Australia and Canada, offsetting declines in the U.S. [14]. Financial Position - Total assets as of June 30, 2025, were $949.9 million, a 1% increase from $937.7 million in 2024 [23]. - Long-term debt and lease liabilities increased by 37% to $108.7 million [4]. - The company reported positive working capital of $111.8 million, including $34.2 million in cash [16]. Capital Expenditures and Outlook - Total Energy executed $26.3 million in capital expenditures in Q2 2025, primarily for rig upgrades and rental equipment acquisitions [15]. - The company increased its 2025 capital expenditure budget by $19.5 million to $102.4 million, focusing on growth opportunities [19]. - The CPS segment's backlog reached a record $303.9 million, providing visibility into 2026 [18].

Company Overview - Total Energy Services Inc. is headquartered in Calgary, Alberta, and provides contract drilling services, equipment rentals, transportation services, well servicing, and compression and process equipment and service to the energy and other resource industries from operation centers in North America and Australia [4]. Financial Results Announcement - Total Energy will conduct a conference call and webcast following the release of its financial results for the three months ended June 30, 2025 [1]. - The financial results will be released prior to the conference call, which is scheduled for August 6, 2025, at 9:00 a.m. (Mountain Time) [2]. Access to Conference Call - The conference call can be accessed by dialing (833) 752-3851 or (647) 846-8915 [2]. - A live webcast of the conference call will be available on Total Energy's website, and an archived version will be accessible shortly after the live event [3]. Contact Information - For further information, inquiries can be directed to Yuliya Gorbach, Vice-President Finance and Chief Financial Officer, at (403) 216-3920 or via email at investorrelations@totalenergy.ca [5].