Mitchell Services Limited
(ASX:MSV) has announced the September 2016 quarter has delivered growth across its operational rigs, operating shifts and seen an improvement in cash flows.
The average operating rig count increased to 21 rigs during the quarter, up from 18 in the previous corresponding period.
The average number of monthly operating shifts also increased by 45 percent compared to the same time last year.
The company generated positive operating cash flows for the quarter of $1.34 million, with the company’s cash balance now in positive territory.
Mitchell Services Limited posted a net loss of $6.1 million at 30 June 2016.
