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 This material may not be published, broadcast, rewritten or redistributed.

  • 0081 OSY 2024 hockey draft
    0081 OSY 2024 hockey draft
  • 0080 Turnbull Clarence 25 years
    0080 Turnbull Clarence 25 years
  • 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
  • 0058 Royal Helium Steveville opens anonymous rocket
    0058 Royal Helium Steveville opens anonymous rocket
  • 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

 

Cenovus plans on using Lloydminster Upgrader to process oilsands product, sell Lloydminster Blend on the market

Asking the hard questions on SaskPower’s new solar and wind announcements