Ensign Energy Services has agreed to acquire Citadel Drilling for $65 million, adding six high-spec AC drilling rigs and managed pressure drilling capabilities to its U.S. Permian operations. The acquisition expands Ensign’s presence in the Permian Basin while strengthening its technical drilling services and operational capacity.
Ensign Energy Services Inc. reported a 9% decrease in Q2 2024 revenue to $391.8 million and a net loss of $4.5 million. Despite the revenue decline, the company made significant debt reductions and is on track to achieve its long-term debt reduction goals. Increased drilling activity in Canada is expected to offset challenges in the U.S. market.
AKITA Drilling Ltd. is a leading intermediate North American land drilling contractor with a fleet of 36 high-spec drilling rigs operating in major resource basins in Canada and the US.
Ensign Energy Services has close to 60+ rigs that spud wells in the US in 2023. Ensign is the #4 drilling contractor by number of different rigs that spud wells drilling rigs in North America in 2023.
