Ensign Energy Services Inc.’s fourth-quarter profit rose 64 per cent as the oilfield services provider benefited from the continued drilling boom in North America.
The company’s net income rose to $52.6-million, or 34 cents a share, from $32.1-million, or 21 cents, a year ago.
Calgary-based Ensign’s revenue rose 43 per cent to $578-million.
Adjusted profit was 38 cents a share.
North American peers such as Halliburton, Schlumberger, Baker Hughes, Calfrac and Precision Drilling have also gained from strong drilling for oil and gas in shale fields.
Ensign has operations in Canada, United States, Australia, Southeast Asia, Middle East, Africa, South America and New Zealand. The company gets about 80 per cent of its revenue from North America.