Will Questor's share bounce back??? This morning, Ensign Energy Services (ESI) reported Canadian drilling recorded 3,728 operating days in the first quarter of 2022, compared to 1,846 operating days in the first quarter of 2021, an increase of 1,882 drilling days. Canadian well servicing recorded 11,260 operating hours in the first quarter of 2022, a 24 percent increase from 9,090 operating hours in the first quarter of 2021.
United States drilling recorded 3,688 operating days in the first quarter of 2022, a 43 percent increase from 2,581 operating days in the first quarter of 2021. United States well servicing recorded 29,689 operating hours in the first quarter of 2022, a one percent decrease from 29,965 operating hours in the first quarter of 2021.
Investors are hoping that Questor's rental business has also picked up in the first quarter. Last year, the first Quarter Financial Statements were posted on May 17.
Since the beginning of the year, Ensign's share price has more than double ($1.81 - $4.20), while Questor's share price has fallen from $1.52 to $1.31.
Ensign Energy Services Inc offers services in drilling and well servicing, oil sands coring, directional drilling, underbalanced and managed pressure drilling, equipment rentals, transportation, wireline services, and production testing services.