Jan 16 (Reuters) - Xtreme Drilling Corp XDC.TO
* 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: XDC.TO