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Ensign Energy Services Inc ESVIF


Primary Symbol: T.ESI

Ensign Energy Services Inc. is a Canada-based international oilfield services contractor. The Company provides oilfield services to the oil and natural gas industry in Canada, the United States and internationally. Its services include contract drilling, directional drilling, underbalanced and managed pressure drilling, rental equipment, well servicing and production services. It offers a fleet of rigs, a range of drilling services, and also delivers customized solutions. The Company's well services include well completion and re-completions, well abandonment, production workovers, downhole pump servicing and/or replacement, well sidetracking and deepening, fishing and swabbing operations, and corod injection. The Company's ASR 150, is a fully automated service rig that eliminates all manual manipulation of tubulars from the pipe rack to the make-up of a connection, reducing the number of personnel on the rig floor. It provides pressure testing, tool rentals or torque wrenches.


TSX:ESI - Post by User

Post by DeanEdmontonon May 22, 2022 12:14pm
312 Views
Post# 34701173

Upward Trjectory But Lots Of Drops on the Way

Upward Trjectory But Lots Of Drops on the WayThere is not doubt this stock is headed higher over the next 12-18 months, but there are also a lot of minor corrections on the way up. This is not new, in 35 years of following and buying/selling this stock it has always done this. It is what makes it a trading stock versus a longterm buy and hold. It even shows significant seasonal patterns in most, though not all, years. The one thing that is currently different about this stock is the leaverage it is carrying. It is packing an awful lot of debt, and this is not its previous way of doing things. If this was mot a Murray Edawrds owned comany I doubt lenders would be so willing to lend at htese levels. This does make the stock less secuure over down drats in demand.
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