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.
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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.
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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.
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