Strad Energy Services Ltd. has approved its preliminary 2014 capital expenditure program with an initial budget of $17 million for the first half of the year. The majority of the capital will be used for organic growth opportunities across product lines and geographies on existing products. Approximately $5 million will be allocated to maintenance capital of which $1.5 million represents carry forward from 2013.

The company intends to finance the capital spending in the first half of the year primarily from operating cash flow.