Gas draining ramped up in safety drive: Mitchell

Liam WalshReporter

Aug 18, 2020 – 2.20pm

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Key Points

Revenue ($m) 175.6, up 46.0%
Pre-tax profit ($m) 10.5, down 18.4%
Net profit ($m) 7.2, down 58.5%
No dividend declared

Mitchell Services, a 101-rig drilling outfit, says miners are seeking to drain more gas from sites after a disastrous Australian explosion earlier this year.

“Certainly that underground gas space will need a lot of work, and I think the cost of it for the clients is ... minuscule in regards to their overall cost of production,” Mitchell chief executive Andrew Elf said on Tuesday.

Liam Walsh writes on investigations and companies with The Australian Financial Review. He has won multiple media awards, worked in Japan and is now based in Brisbane.