CALGARY – Strad Energy Services Ltd. (TSX:SDY) says it brought in net income of $3.5 million in the second quarter, or 10 cents per share.
That’s up from net earnings of $852,000, or four cents per share, in the same quarter a year ago for the oilfield services company.
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Calgary-based Strad Energy says its growing United States business is stabilizing seasonal impacts for its rental equipment operations.
Strad Energy says wet field conditions and road bans in Canada during the second quarter is increasingly mitigated by growing U.S. operations.
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The company says industry conditions remained robust in the quarter and all signs point toward this trend continuing into 2012.
High oil and liquids rich natural gas prices and strong global demand have boosted exploration and development throughout North America.
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