Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

Ensign Energy Services Inc T.ESI

Alternate Symbol(s):  ESVIF

Ensign Energy Services Inc. is a technologically advanced oilfield service provider. It provides oilfield services to the oil and natural gas industry in Canada, the United States and internationally. Its services include drilling, directional drilling, well servicing and rental equipment. Its 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. It offers a comprehensive range of resolutions, customized to meet the needs of its customers, including advanced drilling systems, automation technologies, directional drilling tools, and environmental innovations. Its 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 offers pressure testing, tool rentals or torque wrenches.


TSX:ESI - Post by User

Bullboard Posts
Comment by Schussing56on Aug 08, 2019 4:31pm
127 Views
Post# 30008423

RE:I have a feeling the dividend will get cut.....

RE:I have a feeling the dividend will get cut.....Yes, I think they will have to cut the dividend.  When yields get this high (12, 13, 14, maybe even 15%) market forces will force Ensign to make the cut.  The $377 million for Q2, I think, is quite a bad miss.  Analysts were expecting about $435 million.  Interest on debt and general administrative expenses alone, were up $35 million this quarter.  Ensign did reduce debt by about $60 million but, that $200 million gain on the Trinidad transaction is going to be eaten up awfully quick with the increased debt servicing costs.  I think they need to work on paying down debt even more than what they have projected.  A lot of economists think there is going to be a recession coming, maybe in 2020.  If so, with this much debt, I think Ensign might be lucky to survive.  Personally, I don't know?  The sell-off at the end of 2018 caused the TSX to drop by about 20% which is the requirement for it to be considered a recession so, maybe the recession has already occurred.  GLTA!  
Bullboard Posts