Ensign Energy Q2 Net Profit Up 16%

Ensign Energy Services

reported a 16% increase in its second-quarter net profit. Ensign's quarterly net income surged to C$18.7 million ($18.9 million), or 12 Canadian cents a share, versus C$16.1 million, or 11 Canadian cents a share, in the year-ago period. On an adjusted basis, Ensign earned 11 Canadian cents a share. Ensign's funds from operations jumped 24% to C$82.5 million, or 54 Canadian cents a share. Its revenue climbed 39% to C$463.9 million. Ensign shares closed at $15.78 on Friday.