Mitchell drills down

DRILLING company Mitchell Services has reported strong free cash flows in 2021’s second quarter despite incurring a $7.3 million impairment of trade receivables due to a failed contract.

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Mitchell's rig at work at Kirkalocka

Mitchell recorded second quarter revenue of $46.8 million, earnings before interest, taxes, depreciation and amortisation of $2.1 million and operating cash flow of $6.