Company:Ensign Energy Services
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| Type | Public |
|---|---|
| TSX: ESI | |
| Industry | Oil and Gas Equipment & Services |
| Founded | 1987 |
| Headquarters | Calgary, Alberta , |
Key people | N. Murray Edwards (Chairman) |
| Services | Drilling Directional Drilling Well Servicing |
Number of employees | 5,000+ (2019) |
Ensign Energy Services Inc. is a publicly traded Canada company that provides oilfield services for the North American and international market.[1] Founded in 1987,[2] Ensign is headquartered in Calgary, Alberta. Ensign's Common Shares are publicly traded though the facilities of the Toronto Stock Exchange under the trading symbol ESI.[3]
Global Operations
Ensign is one of the world's land-based drilling and well servicing contractors serving crude oil, natural gas and geothermal operators.[verification needed] The company’s premium service is focused on contract drilling with complementary services such as directional drilling, underbalanced and managed pressure drilling, rental equipment, well servicing and production services.[4] Today, the company owns 302 drilling rigs and 102 service rigs across the globe. It has more than 5,000 employees, the majority of whom are field-based. [5]
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North America
South America
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Middle East
Oceania
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History
1987 to 2007
Ensign was founded in 1987 as Ensign Resource Service Group.[2] It listed on the Toronto Stock Exchange in 1993. In the second quarter of 2005, the company changed its name from Ensign Resource Service Group to its current name.
2008 to Present
In 2011, the company was accused of option backdating;[6] it eventually reached a $4 million settlement.[7] In 2015–2016, it experienced significant losses of $104 million and $150 million; in the 2009 to 2016 period, it closed down 200 rigs.[8]
In August 2018, Ensign made a C$470 million hostile takeover offer for Trinidad Drilling.[9] On November 27, 2018, Ensign announced the successful acquisition of a total of 66.73 per cent of the outstanding common shares of Trinidad Drilling Ltd. ("Trinidad"), including the 9.82 per cent previously held by Ensign, which increased to 89.3 per cent by December 21, 2018. [10] The company reported a 72 per cent increase in revenue in its first full quarter since acquiring Trinidad Drilling Ltd. [11]
In 2019, the company was awarded significant new drilling contracts in the United States, Canada and the Middle East. [12]
See also
References
- ↑ "Ensign retires 21 drilling rigs as slowing oilfield activity further shrinks industry" (in en-US). Calgary Herald. 2016-03-08. https://calgaryherald.com/business/energy/ensign-retires-21-drilling-rigs-as-slowing-oilfield-activity-further-shrinks-industry.
- ↑ 2.0 2.1 "Company History". Ensign Energy Services Inc.. http://www.ensignenergy.com/about/company-history/Pages/default.aspx.
- ↑ "Ensign Provides an Update on New Drilling Rig Contracts (Permian, Canada, and International) and an Update on the Integration of Trinidad" (in en-US). Ensign Energy. 2018-03-28. https://www.https://www.newswire.ca/news-releases/ensign-provides-an-update-on-new-drilling-rig-contracts-permian-canada-and-international-and-an-update-on-the-integration-of-trinidad-811505364.html.
- ↑ "Ensign Provides an Update on New Drilling Rig Contracts (Permian, Canada, and International) and an Update on the Integration of Trinidad" (in en-US). Ensign Energy. 2018-03-28. https://www.https://www.newswire.ca/news-releases/ensign-provides-an-update-on-new-drilling-rig-contracts-permian-canada-and-international-and-an-update-on-the-integration-of-trinidad-811505364.html.
- ↑ "Investor Presentation" (in en-US). Ensign Energy. 2019-11-01. https://www.ensignenergy.com/presentations.
- ↑ "Ensign Energy Services accused of option backdating | CBC News" (in en-US). CBC. https://www.cbc.ca/news/canada/calgary/ensign-energy-services-accused-of-option-backdating-1.2522168.
- ↑ "Ensign Energy Services stock option backdating suit ends in settlement | CBC News" (in en-US). CBC. https://www.cbc.ca/news/canada/calgary/ensign-energy-services-stock-option-backdating-suit-ends-in-settlement-1.2654816.
- ↑ "Ensign ends 2016 with $150M loss, shutters 26 rigs" (in en-US). Calgary Herald. 2017-03-06. https://calgaryherald.com/business/energy/ensign-ends-2016-with-150m-loss-shutters-26-rigs.
- ↑ "Ensign Goes Hostile in $358 Million Trinidad Drilling Bid". Bloomberg. 2018-08-13. https://www.bloomberg.com/news/articles/2018-08-13/ensign-shuns-standstill-takes-358-million-trinidad-bid-hostile.
- ↑ "Ensign Provides Update on Trinidad Acquisition, 2019 Capital Expenditure Plan, Operational Report and New Executive Vice President" (in en-US). Cision. 2019-02-14. https://www.newswire.ca/news-releases/ensign-provides-update-on-trinidad-acquisition-2019-capital-expenditure-plan-operational-report-and-new-executive-vice-president-853730148.html.
- ↑ "Ensign Energy Services posts Q1 beat as it digests Trinidad acquisition" (in en-US). The Canadian Press. 2019-05-13. https://www.nationalobserver.com/2019/05/13/news/ensign-energy-services-posts-q1-beat-it-digests-trinidad-acquisition.
- ↑ "Ensign Provides an Update on New Drilling Rig Contracts (Permian, Canada, and International) and an Update on the Integration of Trinidad" (in en-US). Cision. 2019-05-28. https://www.newswire.ca/news-releases/ensign-provides-an-update-on-new-drilling-rig-contracts-permian-canada-and-international-and-an-update-on-the-integration-of-trinidad-811505364.html.
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