Mitchell Services Limited (ASX code: MSV) provides both underground and surface drilling services to the exploration, mining and energy industries – making it one of the most diverse businesses in this sector. Based in Brisbane, Australia, the company has a history stretching back to 1969 and a client portfolio that includes BHP, Evolution Mining, South 32, Anglo-American, Peabody Energy and Glencore.
Mitchell Services has experienced unprecedented growth in recent years. In 2014, the business had an operating rig count of 8 rigs, 80 employees and a turnover of AUD 15 million for the financial year. In 2018, the business expanded to an operating rig count of 45 rigs, more than 350 employees and a nearly fivefold increase in turnover to over $72 million.