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CS - Pason plans modest $25MM capex budget for 2020 - March 2020

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Taking cues from its customers’ focus on capital discipline this year, drilling rig data management provider Pason Systems will spend up to $25 million in capex in 2020. The company said plans will be “relatively modest,” with a large portion of efforts put toward software. Pason spent $23.9 million on capex in 2019. CEO Marcel Kessler said the company will maintain flexibility going forward because of analysts’ lower oil price forecasts stemming from potential......
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