Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

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

Comment by Adonis1411on May 07, 2024 11:43am
88 Views
Post# 36026930

RE:RE:RE:RE:RE:CIBC

RE:RE:RE:RE:RE:CIBC
Schussing56 wrote: Drilling is down 32% in the United States, 19% internationally, and 1% in Canada. Catastrophic news I would say. Oil companies simply aren't investing in exploration and development anymore. They are content, it would seem, to let the renewables take over.  


Yes, year over year comparing Q1. In the process of that, EBITDA was only down 8% during that same comparative period. This is a much healthier business today.

Canada Q2 is way ahead of last year; US is maintaining these sustained lower levels of activity but has real upside if gas prices get some strength; and International markets are looking strong with 25% more rigs active today versus Q1 2024 (at much higher day rates).

Reality is in a flat market ESI will do well. If we see gas and Lower 48 activity pick up, they're going to fare extremely well. IMO. 
<< Previous
Bullboard Posts
Next >>