Ensign Energy Services Inc T.ESI

ESI likely immediately profitable IF DEBT

[flush777]

Is refinanced ... I see that competitor Precision just refinanced $400M debt at 6.875% for senior debt.

ESI senior debt pays 9.25% ...

I think that the market would be receptive here.

[Joe455]

Is ESI riskier than PD?

[Whocares2020]

I would say so.  those are garbage terms.  But sector has been decimated over the years.

[Schussing56]

No, ESI is a much better company.  PD was already bailed out by the government once.  Their 10 for 1 share consolidation makes it appear as if they are doing well, but ESI has more rigs, better diversified, better management.  ESI was the first to re-deploy many rigs into the US and PD and others followed their lead.  ESI does have a lot of debt though, they over-leveraged