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BRIEF-Trinidad Drilling Says 2018 Capital Spending Budget Of About $40 Mln

Published 2017-12-14, 07:05 p/m
© Reuters.  BRIEF-Trinidad Drilling Says 2018 Capital Spending Budget Of About $40 Mln
TDG
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Dec 14 (Reuters) - Trinidad Drilling Ltd TDG.TO :

* TRINIDAD DRILLING LTD. ANNOUNCES 2018 CAPITAL SPENDING BUDGET AND INTERNATIONAL CONTRACT AWARD

* TRINIDAD HAS BEEN AWARDED A CONTRACT IN BAHRAIN WITH OPERATIONS EXPECTED TO START IN EARLY 2018

* TRINIDAD DRILLING - EXPECT HIGHER ACTIVITY LEVELS IN 2018, DRIVEN BY FULL-YEAR CONTRIBUTION OF THESE RIGS AND IMPROVED YEAR-OVER-YEAR INDUSTRY CONDITIONS

* 2018 CAPITAL SPENDING BUDGET OF ABOUT $40 MILLION, COMPRISED LARGELY OF MAINTENANCE CAPITAL TO BE SPENT ON CO'S NORTH AMERICAN FLEET

* IN 2018 EXPECTS GENERAL AND ADMINISTRATIVE COSTS TO BE ABOUT $53 MILLION, REDUCTION OF 9% FROM 2017

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