Ensign Energy Services Inc ESVIF

They paid

[Nothingmatters]

Only 30 million for the whole year on a debt of about 1.4 billion... you can gauge how dangerous this stock is....

[Insider]

$30million debt was reduced despite losses reported between Dec 2021 to Sep 2022. Imagine now when they are working at full capacity with profit report last quarter, they are on track to repay $30Million every quarter or maybe more 2023 is a super cycle for Drilling companies, Europe will be demanding more and more oil from USA now that Russia sanctions have come in to effect. This means OIL and

[Nothingmatters]

lol a profit of 11 million on a revenue of 462 million... i personally do not believe in any upside. 

[Insider]

They were expected to break even Q1 2023 but they beat expectations by narrowly reporting profit in Q3 2022.  With full utilization of capital and resources, new drilling long term contracts just beginining to kick in, you can expect a sizeable net income for many more years.

[Nothingmatters]

By what year will they be able to pay off 1.4 billion may in year 2060 or when the company is non existent?

[Insider]

And why do you think it is necessary to pay off your debt? As long as you are reasonably leveraged you can remain a going concern and continue to profit from operations. Profit from operations translates in to dividends or share buy backs which in turn increases share price. Very few companies have 0 debt on their balance sheets if at all.

[Possibleidiot01]

Like you and me , companies have short term debt and long term debt . You have to pay the immediate bills but you might choose not to pay off your mortgage all at once. It's not that they don't have the cash flowing into the company to make greater repayments , check the increase in cash flows due to the booming oil and gas service industry.