Ensign Energy Services reports Q1 profit compared with a loss a year ago

Energy company Q1 profit

Photo: The Canadian Press

The Ensign Energy Services Inc. logo is seen in this undated handout photo.

Ensign Energy Services Inc. reported a profit in its latest quarter compared with a loss a year ago as its revenue edged up.

The oilfield services company says its net income attributable to common shareholders amounted to $3.7 million or two cents per diluted share for the quarter ended March 31.

The result compared with a loss of $1.2 million or a penny per diluted share in the same quarter last year.

Revenue for the first quarter of 2025 was $436.5 million, up from $431.3 million a year earlier.

The company's drilling operations reported 7,924 operating days for the quarter, down from 8,205 a year earlier, while its well servicing business recorded 36,519 hours in the quarter, down from 38,177 in the same quarter last year.

Ensign says its funds flow from operations amounted to 52 cents per diluted share for its latest quarter, down from 59 cents per diluted share in the first quarter of 2024.

This report by The Canadian Press was first published May 12, 2025.

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