Sign Up for FREE Daily Energy News
 
BREAKING NEWS:
Hazloc Heaters
WEC - Western Engineered Containment
Copper Tip Energy Services
Copper Tip Energy
WEC - Western Engineered Containment
Hazloc Heaters

Ensign Energy Services reports Q4 loss compared with a profit a year ago


CALGARY — Ensign Energy Services Inc. says it lost $71.6 million in its latest quarter compared with a profit of $154.8 million in the same quarter a year earlier.

The oilfield services company says the loss amounted to 44 cents per diluted share for the quarter ended Dec. 31 compared with a profit of 98 cents per share in the last three months of 2018.

Revenue grew to $375.8 million, up from $346.1 million in the fourth quarter of 2018.

For the full year, Ensign says it lost $162.9 million or $1.02 per diluted share. That compared with a profit of $58.7 million or 37 cents per diluted share in 2018.

Revenue for the full year totalled $1.59 billion, up from $1.16 billion in 2018.

Ensign acquired a 89.3 per cent stake in Trinidad Drilling Ltd. in the fourth quarter of 2018 and the remaining 10.7 per cent stake in the first quarter of 2019.

This report by The Canadian Press was first published March 9, 2020.

Companies in this story: (TSX:ESI)

The Canadian Press



Share This:



More News Articles


New SHOWCASE Directory Companies

 

Catch Engineering
GLJ Petroleum Consultants Ltd.
DTN
Hy-Lok Distribution Inc
Pacbrake Company
Fusion Production Systems Inc
Enverus
Clear Glycol Inc.