London-listed Capital Drilling on Tuesday reported that it had achieved continued solid operational profitability, driven by consistent revenue from long-term contracts and ongoing prudent cost management, during the third quarter ended September 30. The company’s revenue rose by 6.1% quarter-on-quarter to $29.4-million, but its average revenue per operating rig decreased by 4.4% quarter-on-quarter to $174 000, mainly as a result of a reduction in drilling activities at Barrick Gold’s North Mara mine, in Tanzania, as a result of the suspension of the use of the tailings facility at the mine.
