Ensign Energy Services reports first-quarter revenue up more than 50%

CALGARY — Ensign Energy Services Inc. reported a profit in its latest quarter compared with a loss a year ago as its revenue grew more than 50 per cent.

The Calgary-based company says it earned a profit attributable to common shareholders of $6.6 million or four cents per diluted share for the quarter ended March 31 compared with a loss of $43.6 million or 27 cents per diluted share a year earlier.

Revenue totalled $332.7 million, up from $218.5 million in the same quarter last year.

The company says its drilling business had 8,289 operating days in the quarter, up from 5,286 in the first three months of 2021.

Meanwhile, Ensign says its well servicing business reported 40,949 operating hours for the quarter, up from 39,055 in the same quarter last year.

Funds flow from operations totalled $76.7 million or 42 cents per diluted share for the quarter, up from $46.5 million or 29 cents per diluted share a year earlier.

This report by The Canadian Press was first published May 9, 2022.

Companies in this story: (TSX:ESI)

The Canadian Press

News from © The Canadian Press, 2022. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

• 0084 EMP Metals Pipeline Online
  0084 EMP Metals Pipeline Online
• 0053 Kingston Midstream Westspur Alameda Click
  0053 Kingston Midstream Westspur Alameda Click
• 0082 CsHM 2024 Pipeline
  0082 CsHM 2024 Pipeline
• 0077 Caprice Resources Stand Up For Free Speech
  0077 Caprice Resources Stand Up For Free Speech
• 0076 Latus only
  0076 Latus only
• 0061 SIMSA 2024 For Sask Buy Sask
  0061 SIMSA 2024 For Sask Buy Sask
• 0055 Smart Power Be Smart with your Power office
  0055 Smart Power Be Smart with your Power office
• 0051 JML Hiring Pumpjack assembly
  0051 JML Hiring Pumpjack assembly
• 0049 Scotsburn Dental soft guitar
  0049 Scotsburn Dental soft guitar
• 0046 City of Estevan This is Estevan
  0046 City of Estevan This is Estevan
• 0041 DEEP Since 2018 now we are going to build
  0041 DEEP Since 2018 now we are going to build
• 0032 IWS Summer hiring rock trailer music
• 0022 Grimes winter hiring
• 0021 OSY Rentals S8 Promo
• 0018 IWS Hiring Royal Summer
• 0013 Panther Drilling PO ad 03 top drive rigs
• 0011
• 0006 JK Junior
• 0002 gilliss casing services
  0002 gilliss casing services
• 9002 Pipeline Online 30 sec EBEX
  9002 Pipeline Online 30 sec EBEX
• 9001