Ensign Energy Services

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 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]

Ensign Energy Services Inc.
Public
Traded asTSX: ESI
IndustryOil and Gas Equipment & Services
Founded1987
Headquarters,
Key people
N. Murray Edwards (Chairman)
ServicesDrilling Directional Drilling Well Servicing
Number of employees
5,000+ (2019)
Websitewww.ensignenergy.com

Global Operations

Ensign is one of the world's top land-based drilling and well servicing contractors serving crude oil, natural gas and geothermal operators. 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]

 

North America

South America

Middle East

Oceania

Innovation

Ensign tailors its advanced technology and practices to optimize drilling, reduce costs and enhance productivity. The company works relentlessly to improve the way wells are drilled and serviced, delivering the efficient, market-leading service.[6]

EDGE

Ensign’s state-of-the-art technology suite is built for today’s drilling challenges, optimizing drilling performance, crew safety, equipment reliability and rig processes. Ensign Edge’s product line includes EDGE Controls, EDGE Analytics, EDGE RigOS and EDGE Applications. [7]

EDGE Controls
EDGE Controls is a sophisticated software package that works to alleviate downhole challenges, which includes Z-Torque (the newest version of Stick-Slip Mitigation) and Quill Oscillation. With these effects minimized, AutoDriller optimizes the rig’s control mode so drilling can follow the well plan as closely as possible.
EDGE Analytics
EDGE Analytics optimizes rig crew performance through measurement, goal setting and coaching based on customer objectives. Custom historical and real-time reports are created for customers to provide meaningful analysis and comparison for their organization.
EDGE RigOS
Advanced RigOS was designed and developed by Ensign. It’s the foundation for efficient and harmonized deployment of the EDGE suite of advanced drilling products.
EDGE Applications
A suite of proprietary applications designed by Ensign to optimize elements of overall well construction. [8]

Hybrid Rig Technology

In keeping with Ensign’s drive for improved operational and environment performance, in 2019 the company completed its successful test of a new “hybrid rig technology”, powered by natural gas generators and a BESS ("battery energy storage system"). The hybrid rig's performance confirmed numerous improvements, including between 15-25% less CO2, an 80% reduction in NOx emissions and a 90% reduction in particulate matter emissions when compared to an equivalent diesel rig. Other benefits include a 20% reduction in fuel cost, superior power transitioning and a significant reduction in maintenance requirements. [9]

ADR® 1500S

Ensign’s industry-leading ADR® 1500S are more powerful and agile to drill long lateral sections in horizontal wells and execute rapid moves from pad to pad. The ADR®1500S walk on both X + Y axes, for the best mobility and flexibility of any rig on the market. Its advanced motion control lets customers shift between the X + Y axes in minutes, walking directly to their next well. [10]

ASR™ 150

Ensign’s ASR™ 150 is the industry’s most advanced service rig. It is a fully automated service rig, eliminating all manual manipulation of tubulars from the pipe rack to the make-up of a connection, reducing the number of personnel on the rig floor and making it safer, quicker and more efficient to move between wells. [11]

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[12]; it eventually reached a $4 million settlement.[13] In 2015–2016, it experienced significant losses of $104 million and $150 million; in the 2009 to 2016 period, it closed down 200 rigs.[14]

In August 2018, Ensign made a C$470 million hostile takeover offer for Trinidad Drilling.[15] 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. [16] The company reported a 72 per cent increase in revenue in its first full quarter since acquiring Trinidad Drilling Ltd. [17]

In 2019, the company was awarded significant new drilling contracts in the United States, Canada and the Middle East. [18]

See also

References

  1. "Ensign retires 21 drilling rigs as slowing oilfield activity further shrinks industry". Calgary Herald. 2016-03-08. Retrieved 2018-08-17.
  2. "Company History". Ensign Energy Services Inc. Archived from the original on 2017-11-10. Retrieved 2017-08-06.
  3. "Ensign Provides an Update on New Drilling Rig Contracts (Permian, Canada, and International) and an Update on the Integration of Trinidad". Ensign Energy. 2018-03-28. Retrieved 2020-01-07.
  4. "Ensign Provides an Update on New Drilling Rig Contracts (Permian, Canada, and International) and an Update on the Integration of Trinidad". Ensign Energy. 2018-03-28. Retrieved 2020-01-07.
  5. "Investor Presentation". Ensign Energy. 2019-11-01. Retrieved 2020-01-07.
  6. https://www.ensignenergy.com/innovations
  7. https://www.ensignenergy.com/uploads/Ensign EDGE Brochure - DIGITAL.pdf
  8. https://www.ensignenergy.com/uploads/Ensign EDGE Brochure - DIGITAL.pdf
  9. https://www.bloomberg.com/press-releases/2019-08-06/ensign-energy-services-inc-reports-2019-second-quarter-results
  10. https://www.ensignenergy.com/innovations
  11. https://www.ensignenergy.com/innovations#adr
  12. "Ensign Energy Services accused of option backdating | CBC News". CBC. Retrieved 2018-08-17.
  13. "Ensign Energy Services stock option backdating suit ends in settlement | CBC News". CBC. Retrieved 2018-08-17.
  14. "Ensign ends 2016 with $150M loss, shutters 26 rigs". Calgary Herald. 2017-03-06. Retrieved 2018-08-17.
  15. "Ensign Goes Hostile in $358 Million Trinidad Drilling Bid". Bloomberg. 2018-08-13.
  16. 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. Retrieved 2020-01-07. Missing or empty |title= (help)
  17. The Canadian Press. 2019-05-13 https://www.nationalobserver.com/2019/05/13/news/ensign-energy-services-posts-q1-beat-it-digests-trinidad-acquisition. Retrieved 2020-01-07. Missing or empty |title= (help)
  18. 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. Retrieved 2020-01-07. Missing or empty |title= (help)
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