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Canada's Ensign reports USD44.7m profit in Q3  Join our daily free Newsletter

MENAFN - - 12/11/2012

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(MENAFN) Canada's largest oilfield services provider by market value Ensign Energy Services Inc reported a 30 percent decline in quarterly profit, as costs rose while demand for its services in North America dropped, Reuters reported.

The company said it made USD44.72 million net profit during the third quarter, down from USD63.88 million a year earlier.

The company also reported a 10 percent increase in quarterly revenue to USD524.7 million year-on-year, as a result of Ensign expanding and upgrading its rig fleet.

Ensign expects oilfield services activity levels at its Canadian operations to improve sequentially in the fourth quarter.

 






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