RE:AnalystsTD Securities: Ensign is guiding to a modest sequential reduction in U.S. activity with 42 rigs currently active. That said, management expects that 45-50 rigs could be active by year end.
Ensign's blended cost of debt in 2024 will be approximately 8%. This is a very good outcome, based on Ensign's current leverage and prevailing interest rate trends.
We are maintaining our BUY rating and $4.75/share target price.