Jan 29 (Reuters) - Trinidad Drilling Ltd TDG.TO :
* TRINIDAD DRILLING LTD - ANNOUNCED THAT IT IS MOVING EIGHT RIGS TO PERMIAN BASIN, TX TO MEET INCREASED CUSTOMER DEMAND
* TRINIDAD DRILLING LTD - RIGS WILL BE REDEPLOYED FROM COMPANY'S EXISTING GLOBAL OPERATIONS, INCLUDING CANADA
* TRINIDAD DRILLING LTD - COSTS TO MOVE THREE IDLE RIGS FROM SAUDI ARABIA WILL BE PARTLY COVERED BY SAUDI CUSTOMER-PAID DEMOBILIZATION FEES
* TRINIDAD DRILLING LTD - REMAINING COSTS AND COSTS TO MOVE RIGS WITHIN NORTH AMERICA EXPECTED TO BE LARGELY COVERED BY PERMIAN CUSTOMERS
* TRINIDAD DRILLING LTD - IN ACTIVE DISCUSSIONS WITH CUSTOMERS TO SIGN ONE TO TWO-YEAR CONTRACTS FOR REDEPLOYED RIGS
* TRINIDAD DRILLING LTD - SAUDI ARABIAN RIGS WILL NEED MINOR RE-CONFIGURATION AND ARE EXPECTED TO BEGIN WORK IN Q3 OF 2018
* TRINIDAD DRILLING LTD - WHERE POSSIBLE, CO ANTICIPATES USING CURRENTLY UNDER-UTILIZED EQUIPMENT & CAPITAL INVENTORY TO MINIMIZE UPGRADE CAPITAL
* TRINIDAD DRILLING LTD - SEES NET 2018 CAPITAL BUDGET INCLUDING TDI $74.0 MILLION