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An oil sands worker checks the oil during the first step of separation at the Suncor processing plant at their tar sands operations near Fort McMurray, Alberta, September 17, 2014.TODD KOROL/Reuters

Secure Energy Services Inc. has fattened a planned share issue by 29 per cent to $180-million as investors saw value in its diversified businesses despite the industry's severe downturn.

Secure, which runs oil-by-rail terminals, waste disposal and a host of drilling and environmental services, priced the bought deal on Wednesday at $14.65 per share, or about 3 per cent under that session's close. It expanded the deal by $40-million on Thursday.

If underwriters exercise an allotment option, the offering would be worth $198-million.

The financing, led by Raymond James Ltd. and FirstEnergy Capital Corp., comes amid a flurry of oil-patch stock issues in the face of the industry's downturn. On Wednesday, Encana Corp. did a $1.25-billion bought deal, which sold out quickly.

It and other producers have used the financings to reduce debt as cash flow wanes. The energy-services firms have been forced to retrench by slashing spending and cutting large parts of their work forces.

Secure, however, said it planned to use proceeds from its offering to fund capital expenditures and make acquisitions with much of the rest of the sector in tough financial straits.

Its shares are down 42 per cent from last August, but have held up comparatively well since the start of 2015.