March 19, 2012 / 10:18 AM / 6 years ago

Ensign Energy profit rises on N.American drilling activity

(Reuters) - Ensign Energy Services Inc’s (ESI.TO) fourth-quarter profit rose 64 percent as the oilfield services provider benefited from the continued drilling boom in North America.

The company’s net income rose to C$52.6 million ($52.60 million), or 34 Canadian cents a share, from C$32.1 million, or 21 Canadian cents a share, a year ago.

Calgary, Alberta-based Ensign Energy’s revenue rose 43 percent to C$578 million.

Adjusted profit was 38 Canadian cents a share.

North American peers such as Halliburton (HAL.N), Schlumberger (SLB.N), Baker Hughes BHI.N, Calfrac (CFW.TO) and Precision Drilling (PD.TO) have also gained from strong drilling for oil and gas in shale fields.

Ensign has operations in Canada, United States, Australia, Southeast Asia, Middle East, Africa, South America and New Zealand. The company gets about 80 percent of its revenue from North America.

Reporting by Aftab Ahmed in Bangalore; Editing by Sriraj Kalluvila

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below