CORRECTED-(OFFICIAL)-BRIEF-Trinidad Drilling Q4 loss $0.64 per share (March 2)

Fri Mar 4, 2016 12:05am EST
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(Corrects loss per share in headline and first bullet point to $0.64, from $0.77; adds correct link to source text)

March 2 (Reuters) - Trinidad Drilling Ltd : * Says Q4 loss $0.64 per share * Trinidad Drilling Ltd reports fourth quarter and full year 2015 results; solid operating margins driven by strong contract base and cost controls, dividend suspended * Says board of directors agreed to suspend the dividend, effective immediately * Says in 2016, Trinidad expects to spend approximately $30.0 million in capital expenditures * Says lower commodity prices have resulted in further reductions to the capital expenditure programs of oil and gas producers * Says Trinidad expects that 2016 other G&A costs will be approximately $45.0 million * Says expects that weak demand and strong competition will

continue throughout 2016 * Says qtrly revenue $138 mln vs $276.3 mln last year

* Source text for Eikon: * Further company coverage: