Debt Reduction Progress
Ensign Energy Services reduced debt by $19.7 million in the second quarter and $42.9 million in the first half of 2025, aiming for a $600 million reduction by the end of 2025.
Market Share Growth in Canada
The company grew its market share in Canada by 3% while the industry was down 9%.
Successful Middle East Expansion
The Middle East team closed a deal for 2 additional ADRs in Oman on a 5-year contract, with the operator sponsoring upgrade costs.
Technology Solutions Growth
Ensign expanded its drilling technology solutions app penetration by 25% year-over-year.
Safety Performance
The company ended the quarter with its best safety performance in history.
Interest Expense Reduction
Interest expense decreased by 27% to $18.6 million due to lower debt levels and effective interest rates.