PHX Allocates Greater Share Of Capex To Growth Capital For 2023

In the first quarter of 2023, PHX Energy Services Corp. spent $18.6 million in capital expenditures, of which $10 million was spent on growing the company’s fleet of drilling equipment, $4.8 million was spent to replace retired assets, and $3.8 million was spent to replace equipment lost downhole during drilling operations.

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