Newspaper article The Canadian Press

Ensign Shares Jump as Driller Notes Lower Loss, Higher Revenue in Third Quarter

Newspaper article The Canadian Press

Ensign Shares Jump as Driller Notes Lower Loss, Higher Revenue in Third Quarter

Article excerpt

Ensign stock up on lower loss, higher revenue

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CALGARY - Shares in Ensign Energy Services Inc. closed about eight per cent higher at $5.49 Monday after it reported a smaller loss in its third quarter compared with a year ago, while revenue grew 17 per cent.

The drilling company says it lost $32.8 million or 21 cents per share on revenue of $289 million, compared with a loss of $36.5 million or 23 cents per share on revenue of $247 million in the third quarter of 2017.

The results closely matched analyst expectations, according to Thomson Reuters Eikon.

Ensign, which moved a drilling rig from Canada into the U.S. earlier this year, reported third-quarter revenue from activity in Canada dropped by 11 per cent from last year, while U. …

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