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BRIEF-Trinidad Drilling acquires rig technology provider RigMinder
August 28, 2017 / 11:50 AM / 3 months ago

BRIEF-Trinidad Drilling acquires rig technology provider RigMinder

Aug 28 (Reuters) - Trinidad Drilling Ltd

* Trinidad Drilling announces strategic acquisition of RigMinder, a global provider of rig technology

* Trinidad Drilling Ltd - price of RigMinder acquisition for US$30 million

* Trinidad Drilling- in addition, co has agreed to pay US$10 million on later of anniversary of closing date, achievement of equipment deployment milestones

* Trinidad Drilling Ltd- ‍including acquisition of RigMinder, Trinidad expects its FY 2017 capital expenditure program to remain unchanged at $175 million​

* Trinidad Drilling Ltd- ‍general and administrative costs are expected to increase slightly to approximately $56 million in 2017​

* Trinidad Drilling Ltd - including acquisition of RigMinder, trinidad expects FY 2017 capital expenditure program to remain unchanged at $175 million Source text for Eikon: Further company coverage:

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