December 15, 2017 / 12:06 AM / 6 months ago

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

Dec 14 (Reuters) - Trinidad Drilling Ltd:

* ‍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​ Source text for Eikon: Further company coverage:

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