November 10, 2008 / 1:05 PM / 10 years ago

UPDATE 1-Ensign Energy Q3 profit beats estimates

* Q3 shr C$0.47 beat est. by 5 Canadian cents

* Q3 rev C$435.2 mln lags est. C$438.3 mln * Sees fall in demand hurting future results Nov 10 (Reuters) - Ensign Energy Services Inc (ESI.TO) reported a better-than-expected quarterly profit, helped by its oilfield services division, but warned that reduced demand will hurt future results.

Canada’s No. 2 oilfield-services firm reported third-quarter net income of C$72.1 million, up from C$49.7 million a year earlier.

Revenue rose 14 percent to C$435.2 million.

Improved operating cash flows at the company’s customers bolstered demand for oilfield services, the company said in a statement.

Calgary-based Ensign’s shares closed at C$14.49 Friday on the Toronto Stock Exchange.

For the press release, please double-click [ID:nCNW6m221a] . For the alerts, double-click [ID:nWNAB0725] .

$1=1.177 Canadian Dollar Reporting by Shradhha Sharma in Bangalore; Editing by Pratish Narayanan

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