Trinidad Drilling Ltd. announced that it has increased its capital expenditure budget for 2017 by $80 million, in response to strong demand from customers, particularly in the Permian Basin in the US. In 2017, Trinidad expects to spend approximately $175 million in capital expenditures, with $155 million directed towards rig upgrades and $20 million towards maintenance capital. Company expects to recover the upgrade capital invested in 2017 through incremental adjusted EBITDA (1) (on an annualized basis) within 2.5 years.