Ensign up 15% ESI EPS forcast for Q4 were in a range of 3 to 7 cents.
They came in at 17 cents.
In a very slow market, these drillers are showing improved results.
Like i wrote on the ESI board this morning
The DUC were high in 2023 but are coming down.This should have a positive impact on drillers in 2024.
Also ESI has rigs in California were drilling is on the way down VS Akita in the Permian.
I just added 400 shares.I now have 81,600.
There is a lot of sellers at $1.51.73500 shares are offered at $1.51.
I just don't understand why anyone would want to sell at these prices.
but it is what it is.
From Ensign outlook
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 States. In 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.