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Trinidad Drilling to slash capital budget by 76-84%, cut general spending 10-15%

2015-12-14 13:38:17| Logistics - Topix.net

Trinidad Drilling Ltd. has chopped its initial capital spending budget for 2016 to $30 million - 84 per cent less than what it's spending this year - to reflect weak conditions in the oil and gas industry. The Calgary-based company says it's primarily aiming to maintain Trinidad's current operations, although it may be able to spend as much as $45 million if certain growth opportunities arise - still 76 per cent below 2015 levels.

Tags: general capital cut budget

Category:Transportation and Logistics

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