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Ensign Energy Services Inc T.ESI

Alternate Symbol(s):  ESVIF

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 Schussing56on Oct 27, 2022 7:59am
146 Views
Post# 35052349

RE:My actual target for Esi is- Do your own research no advice

RE:My actual target for Esi is- Do your own research no adviceSounds good in theory but, I would be careful as, there are many other factors at play than just having the assets and a good business model. I thought that Ensign would be a good investment when they added $200 million to their balance sheet after stealing Trinidad Drilling but, of course the pandemic happened, the bottom dropped out of the price of oil and, Ensign dropped from about $6.50 down to $0.21. Ensign's bread and butter is still in the United States and, of course we know, Biden's administration has been very hard on oil and exploration companies. Also, many world governments are feverishly trying to hasten the switch from fossil fuels to renewables. Ensign could be a good investment over the next few years but, don't put all your eggs in one basket. Diversification is key to being a successful investor.
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