DeeThree Exploration Finds More Crude, NGLs Good for Bottom Line; Shares Climb 13%

By Midnight Trader,  August 12, 2011, 01:03:31 PM EDT

DeeThree Exploration Ltd. (DTX.TO) is up 40 cents at $3.46 a share today after reporting a 204% increase in Q2 production to an average of 2,167 barrels a day, along with a big jump in amount of crude oil and natural gas liquids produced. Crude and NGL production was 798 barrels per day during the quarter and now accounts for 37% of DeeThree's product mix, up from 2% a year ago.

The company also substantially narrowed its Q2 net loss to $899,000, or 1 cent per share, compared to a $2.08 million loss last year.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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