Question-and-Answer Session
Thank you sir, we will now begin the question-and-answer session [Operator Instructions]. Our first question comes from the line of James West with Lehman Brothers. Please go ahead
Terence E. Hall - Chairman and Chief Executive Officer
Good morning James
JamesWest - Lehman Brothers
Good morning Terry. A lot of detail on the conference call so far a very good color. Are there any additional product lines that you would be looking to divest in the near term or your happy with your the business mix that you have now with SPN Resources having gone away?
Terence E. Hall - Chairman and Chief Executive Officer
No, we're not looking divest anything right now I mean if anything, we are acquiring, we are expanding the product line not reducing it and selling SPN and monetizing debt would just allow us to further that expansion strategy.
JamesWest - Lehman Brothers
Okay then and 2008 capital budget how much of your I guess you said 350 or so million is maintenance CapEx and how much would you call growth CapEx then on top of that given the key hires you've made recently in the Middle East, how much of that growth CapEx would be budgeted for that regional growth?
Terence E. Hall - Chairman and Chief Executive Officer
The maintenance CapEx is somewhere in the area of $80 million to $100 million for the year and the amount that we budgeted... we certainly got 40% to 50% of our budget, CapEx budget internationally. And exactly which market is going to go through. We are lining up equipment and we are waiting to see which way it can go. We are not sure whether it's going to mid. We loan out the equipment, we've got the sales force on the ground, we see a lot of opportunities we'll be buying equipment and getting ready to go in whichever market it may induct them.
JamesWest - Lehman Brothers
Okay, and understood one last allow up from me, did you guys reactive in the market buying back stock during the quarter?
Terence E. Hall - Chairman and Chief Executive Officer
We bought 1 million shares.
JamesWest - Lehman Brothers
Okay, great thanks Terry.
Terence E. Hall - Chairman and Chief Executive Officer
Thank you James.
Operator
Thank you. Our next question comes from the line of Jim Rollyson with Raymond James. Please go ahead.
James Rollyson - Raymond James
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