Ensign Energy Q1 Net Profit Rises 32%

Ensign Energy Services Inc

reported a 32% gain in its first-quarter profit. Ensign Energy's quarterly net income climbed to C$105.5 million ($106.1 million), or 69 Canadian cents a share, versus C$79.7 million, or 52 Canadian cents a share, in the year-earlier period. Its funds from operations surged 15% to C$177.0 million, or C$1.16 per share. Ensign Energy's revenue gained 35% to C$677.7 million. However, gross margin rose to C$234.3 million from C$171.9 million. Ensign Energy shares closed at $13.71 on Friday.