January 17, 2017 / 12:46 AM / in 8 months

BRIEF-Xtreme Drilling Corp announces fourth quarter operations update

Jan 16 (Reuters) - Xtreme Drilling Corp

* Xtreme Drilling Corp. announces fourth quarter operations update, 850XE upgrade details and conference call information

* Says total utilization for 21 rig fleet was 25% for q4, compared with a utilization rate of 22% for prior quarter

* Says approved capital budget for 850XE three upgrades is $33 million usd or approximately $44 million in cad equivalent

* Says upgrades will be funded from cash balance of company

* Company has completed engineering of 850XE upgrade and has begun ordering long lead time items Source text for Eikon: Further company coverage:

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