PHX Energy Services Corp. announced that its Board of Directors has approved a $15 million increase to the corporation’s 2018 capital expenditure program. With this increase the corporation now anticipates spending $33.5 million in capital expenditures during the 2018-year. The increase will primarily be dedicated to further expanding the Atlas high performance drilling motor fleet (Atlas motors) for activity in 2019. PHX Energy’s activity levels in the second quarter increased and are continuing to improve, with the majority of the growth being focused in the Permian basin in the US. This is the result of PHX Energy’s strategic initiatives and targeted objectives to position itself as a prominent player in key operating areas, like the Permian, and deploy PHX Energy developed high performance technology. The Atlas Power rental division is experiencing high demand for the technology. The Atlas motors deliver a higher level of performance and operators are benefiting from the ability to drill at faster speeds with superior reliability. PHX Energy foresees the opportunity to deploy an even greater number of the Atlas motors, and plans to dedicate the $15 million increase toward fleet expansion. This includes adding additional 7.25" Atlas to its fleet and developing additional Atlas motor opportunities for prominent drilling applications in North America.