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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 lifeisgood1010on Mar 01, 2024 9:27am
164 Views
Post# 35908775

Low drilled but uncompleted well on the declined...

Low drilled but uncompleted well on the declined...
Yes, there on the right path.

Let's see how investors react to these positive results.

I saw EPS estimates for Q4 between 3 to 7 cents.they came in at 17 cents.

Drillers are for me a good place to be in 2024.

I'm in Akita because of the extreme low valuation of it's assets vs their market value.

But ESI and PD will also reward it's shareholders in the next coming years.

The DUC were high in 2023 but are coming down.This should have a positive impact
on drillers in 2024

In 2024, the Company expects positive oil prices to support relatively steady oilfield services activity in order to maintain or potentially grow production, especially so in consideration of well productivity declines and low drilled but uncompleted ("DUC") well inventory in certain producing areas in the United StatesIn addition, the Company remains optimistic regarding Canadian drilling activity with the completion of the Trans Mountain oil pipeline expansion project and the completion of the Coastal GasLink pipeline expected in 2024. In additional, several liquefied natural gas ("LNG") projects, including LNG Canada, are expected to support activity over the medium-to-long term.
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