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. 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].