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Company News

BRIEF-Trinidad Drilling Q4 Net Shr Loss $0.06

Feb 26 (Reuters) - Trinidad Drilling Ltd:

* TRINIDAD DRILLING REPORTS FOURTH QUARTER AND YEAR-END 2017 RESULTS; IMPROVING INDUSTRY CONDITIONS DRIVE HIGHER FOURTH QUARTER ADJUSTED EBITDA

* QTRLY REVENUE $137.902 MILLION VERSUS $93.06 MILLION

* QTRLY NET LOSS PER SHARE $0.06

* IN 2018, THE COMPANY EXPECTS TO SPEND APPROXIMATELY $94 MILLION IN CAPITAL EXPENDITURES

* TRINIDAD DRILLING- FOLLOWING A REVIEW TAKEN IN EARLY 2018, CO REDUCED HEADCOUNT, ROLLED BACK SALARIES AND IMPLEMENTED TIGHTER EXPENSE MANAGEMENT

* IN 2018, COMPANY EXPECTS TO SPEND APPROXIMATELY $94 MILLION IN CAPITAL EXPENDITURES

* TRINIDAD RECENTLY COMMENCED A FORMAL PROCESS TO INITIATE A STRATEGIC REVIEW IN AN EFFORT TO ENHANCE SHAREHOLDER VALUE

* TRINIDAD DRILLING- CO’S BOARD INTENDS TO CONSIDER A BROAD RANGE OF ALTERNATIVES, INCLUDING A SALE OF SELECTED ASSETS Source text for Eikon: Further company coverage:

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