Trican Well Service Ltd. Announces 2026 Capital Budget

Rhea-AI Summary

Trican Well Service Ltd. (TOLWF) announced a $122 million capital budget for 2026 focused on disciplined maintenance and targeted growth across its four divisions. The plan prioritizes reliability and efficiency while allocating approximately $40 million to build Canada’s first 100% natural gas fueled, continuous, heavy-duty hydraulic fracturing fleet. That fleet is expected to be field ready in the second half of 2026. The budget emphasizes maintenance capital to sustain equipment performance and includes modernization investments intended to position Trican for future opportunities and long-term shareholder value.

Positive

• $122 million 2026 capital budget approved
• $40 million allocated to natural gas fracturing fleet
• Fleet expected field ready in H2 2026
• Budget prioritizes maintenance across four divisions

Negative

• Majority of budget directed to maintenance, limiting immediate growth spend

Calgary, Alberta--(Newsfile Corp. - December 1, 2025) - Trican Well Service Ltd. (TSX: TCW) ("Trican" or the "Company") today announced that its Board of Directors has approved a 2026 capital budget of $122 million, underscoring the Company's commitment to disciplined investment and long-term growth.

The approved capital budget reflects the Company's continued focus on maintenance capital to ensure reliability and efficiency across Trican's four divisions, while allocating targeted growth capital to advance modernization initiatives and position the Company for future opportunities. Growth capital includes approximately $40 million for Canada's first 100% natural gas fueled, continuous, heavy-duty hydraulic fracturing fleet. This fleet is expected to be field ready in the second half of 2026.

"Our 2026 capital program underscores Trican's commitment to disciplined investments that strengthen our service quality while positioning the Company for long-term growth," said Brad Fedora, Trican's President and CEO. "By focusing our 2026 capital program on disciplined maintenance and targeted growth initiatives, we are ensuring that our equipment remains reliable and efficient while positioning Trican to capture future opportunities and deliver long-term value to our customers and shareholders."

About Trican Well Service Ltd.

Headquartered in Calgary, Alberta, Trican supplies oil and natural gas well servicing equipment and solutions to our customers through the drilling, completion and production cycles. Our team of technical experts provide state-of-the-art equipment, engineering support, reservoir expertise and laboratory services through the delivery of hydraulic fracturing, cementing, coiled tubing, nitrogen services and chemical sales for the oil and gas industry in Western Canada.

Requests for further information should be directed to:

Bradley P.D. Fedora
President and Chief Executive Officer

Scott E. Matson
Chief Financial Officer

Phone: (403) 266-0202
2900, 645 - 7th Avenue S.W.
Calgary, Alberta T2P 4G8

Please visit our website at www.tricanwellservice.com.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/276572

FAQ

How much is Trican's 2026 capital budget (TOLWF)?

Trican approved a $122 million capital budget for 2026.

How much will Trican spend on the natural gas fracturing fleet (TOLWF)?

Approximately $40 million is allocated to the 100% natural gas fracturing fleet.

When will Trican's natural gas fracturing fleet be field ready (TOLWF)?

The fleet is expected to be field ready in the second half of 2026.

What is the primary focus of Trican's 2026 capital program (TOLWF)?

The program emphasizes disciplined maintenance capital to ensure equipment reliability and efficiency.

Does Trican's 2026 budget include growth or modernization investments (TOLWF)?

Yes; the budget includes targeted growth and modernization investments, notably the $40 million natural gas fleet.