Dalmac Energy Up More Than 40%, Hits New Yr High after reportedly swinging to a quarterly profit
Canadian oilfield services company Dalmac Energy Inc (DAL.V) reportedly swung to a quarterly profit as good weather increased activity levels, and said drilling rig utilization levels would continue to be higher in 2011, sending its shares up to a new 52-week high of 25 cents. However, only around 91,000 shares have changed hands.
According to Reuters, the company - which also offers fluid hauling, chemical sales, tank rentals and rig-moving services - earned $651,000, or 4 cents a share in the second quarter. That compares with a loss of $1 million, or 8 cents a share in the previous corresponding period.
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