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Trinidad Drilling declares 2016 capital program


Published Dec 15, 2015
Trinidad Drilling Ltd.

Trinidad Drilling Ltd. expects to spend approximately $30 million in capital expenditures in 2016, with an additional $15 million available to be spent on select upgrades, depending on industry conditions.

The capital budget is largely comprised of capital maintenance and infrastructure projects necessary to maintain the Company's current operations. Trinidad also announces that it has agreed with its lending group to amend its credit facility and certain of the financial covenants, providing additional flexibility for the Company over the next two years.

Tags: Trinidad Drilling Ltd.




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