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