Canyon is upgrading eleven 2,500 hp pumps (27,500 hp) or 11% of its existing pressure pumping capacity to become 3,000 hp pumps. This new pump design is expected to lower Canyon’s cost structure due to greater durability and lower labour requirements. We believe a significant portion of Canyon’s fleet is capable of undergoing these upgrades. This would improve Canyon’s gross margins, but quantitatively addressing this is challenging at this juncture. We have only made modest
09 Sep 2016
Expands Capital Program to $28 mm from $12 mm
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Expands Capital Program to $28 mm from $12 mm
Canyon is upgrading eleven 2,500 hp pumps (27,500 hp) or 11% of its existing pressure pumping capacity to become 3,000 hp pumps. This new pump design is expected to lower Canyon’s cost structure due to greater durability and lower labour requirements. We believe a significant portion of Canyon’s fleet is capable of undergoing these upgrades. This would improve Canyon’s gross margins, but quantitatively addressing this is challenging at this juncture. We have only made modest