Boart Longyear first halfJust reported their numbers. Pretty good quarter with drilling operations increasing by 41% to 301 million versus last year first half. Of course, 2020 was depressed by COVID but they were doing 270 million in 2019 -2018>
Couple of interesting tidbits on rates : Prices increased modestly through Q1 2021 but have increased more significantly in Q2 2021. D rilling activities now at 2013 levels - and further growth expected over near term. S&P Global Market Intelligence lifted exploration growth to 25-35% for 2021. And Record levels of activity across the Company’s diversified portfolio as an outlook.
They do mention that Capital structure inhibiting growth. Still have to finalize their recapitalization plan. So business is booming but MDI principal competitor is still having problems.
Lets see next week what type of number MDI print. And the immediate future looks great...
P.S. DDH1 also reported their highest first half results yesterday. Business is booming in Australia. Their acquisition of in McKay drilling establishing a new position in Australia will not have a big impact on their June 30th results as it was closed as of June 1st but the timing was perfect, so far.