Ensign Energy Services

Ensign Energy Services Inc.
Public
Traded as TSX: ESI
Industry Oil and Gas Equipment & Services
Founded 1987
Headquarters Calgary, Alberta, Canada
Key people
 N. Murray Edwards (Chairman)
Number of employees
 8,500 (2016)
Website www.ensignenergy.com

Ensign Energy Services Inc. is a publicly-traded Canadian company that provides oilfield services for the North American and international market.[1] Founded in 1987[2], Ensign has its headquarters located in Calgary, Alberta. It is one of the largest drillers in Canada.[3]

History

Ensign was founded in 1987 as Ensign Resource Service Group.[2] It listed on the Toronto Stock Exchange in 1993.[4] In the second quarter of 2005, the company changed its name from Ensign Resource Service Group to its current name. In 2011, the company was accused of option backdating; it eventually reached a $4 million settlement.[5] In 2015-2016, it experienced significant losses of $104 million and $150 million; in the 2009 to 2016 period, it closed down 200 rigs.[6] In August 2018, Ensign made a C$470 million hostile takeover offer for Trinidad Drilling.[7]

Operations

Ensign's primary business is providing drilling services for customers in the oil and gas sector.[1] As of the end of 2015, it owned 222 rigs, 83 in Canada, 89 in the United States, and the rest elsewhere. It had 8,500 employees, of whom 7,500 were in the field.[1]

References

  1. 1 2 3 "Ensign retires 21 drilling rigs as slowing oilfield activity further shrinks industry". Calgary Herald. 2016-03-08. Retrieved 2018-08-17.
  2. 1 2 "Company History". Ensign Energy Services Inc. Archived from the original on 2017-11-10. Retrieved 2017-08-06.
  3. ↑ "Varcoe: As U.S. oilpatch is 'shooting the lights out,' Canada waits on sidelines". Calgary Herald. 2018-08-08. Retrieved 2018-08-17.
  4. ↑ "Ensign Energy Services accused of option backdating | CBC News". CBC. Retrieved 2018-08-17.
  5. ↑ "Ensign Energy Services stock option backdating suit ends in settlement | CBC News". CBC. Retrieved 2018-08-17.
  6. ↑ "Ensign ends 2016 with $150M loss, shutters 26 rigs". Calgary Herald. 2017-03-06. Retrieved 2018-08-17.
  7. ↑ "Ensign Goes Hostile in $358 Million Trinidad Drilling Bid". Bloomberg. 2018-08-13.
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