Ensign Energy Services Inc. reported a profit in its latest quarter compared with a loss a year ago as its revenue grew more than 50 per cent.
The Calgary-based company says it earned a profit attributable to common shareholders of $6.6 million or four cents per diluted share for the quarter ended March 31 compared with a loss of $43.6 million or 27 cents per diluted share a year earlier.
Get breaking National news
Revenue totalled $332.7 million, up from $218.5 million in the same quarter last year.
The company says its drilling business had 8,289 operating days in the quarter, up from 5,286 in the first three months of 2021.
- Inquest finds police use of force, drug use caused man’s death of Prince Albert man
- Brampton couple wins $70M Lotto Max jackpot with Mother’s Day gift
- Police watchdog probing man’s death after driver flees N.S. traffic stop
- Peel police charge 2 alleged MS-13 members after human trafficking investigation
Meanwhile, Ensign says its well servicing business reported 40,949 operating hours for the quarter, up from 39,055 in the same quarter last year.
Funds flow from operations totalled $76.7 million or 42 cents per diluted share for the quarter, up from $46.5 million or 29 cents per diluted share a year earlier.
Comments
Want to discuss? Please read our Commenting Policy first.