PHX Energy Services is increasing its 2019 capex plans by $10 million bringing the
total to $25 million. The increased amount will be primarily directed toward increasing
capacity of the fleet of Velocity Real-Time Systems that will be available in early 2020.
Velocity is a next generation downhole guidance system that eliminates unnecessary
runs with the ability to instantly adapt transmission modes to the downhole environment
with powerful unified telemetry.
The remainder of the increase will
be allocated toward maintenance of......
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