November 30, 2010 / 6:41 PM / in 7 years

UPDATE 1-Dalmac Energy swings to Q2 profit, shares jump

* Rig utilization to continue to be higher in 2011

* Q2 EPS C$0.04 vs loss C$0.08/shr last year

* Revenue jumps 66 pct

* Shares up 67 pct, touch 52-week high

Nov 30 (Reuters) - Canadian oilfield services company Dalmac Energy Inc DAL.V swung to a quarterly profit as good weather increased activity levels, and said drilling rig utilization levels would continue to be higher in 2011, sending its shares up 67 percent to a 52-week high.

The company, which also offers fluid hauling, chemical sales, tank rentals and rig-moving services, earned C$651,000, or 4 Canadian cents a share in the second quarter. That compares with a loss of C$1 million, or 8 Canadian cents a share, last year.

Revenue jumped 66 percent to C$5.9 million.

Shares of the Edmonton, Alberta-based company were up 67 percent at 25 Canadian cents in afternoon trade on Tuesday on the Toronto Venture Exchange. (Reporting by Isheeta Sanghi in Bangalore; Editing by Vinu Pilakkott) ((isheeta.sanghi@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: isheeta.sanghi.thomsonreuters.com@reuters.net))

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