CALGARY, Dec. 6, 2018 /CNW/ - Ensign Energy Services Inc. (TSX:ESI) ("Ensign") announces that it and its wholly-owned subsidiary, Ensign US Financial (Delaware) LP (the "Issuer"), have provided a notice of redemption to all holders of its outstanding 3.97% senior guaranteed notes, due 2019, and its outstanding 4.54% senior guaranteed notes, due 2022, which redemptions will be effective on January 10, 2019. The notes will be redeemed at a price equal to the principal amount of such notes, plus the Make-Whole Amount (as defined in the note purchase agreement), plus accrued and unpaid interest to but excluding the redemption date. Ensign intends to use its credit facilities to fund the redemption.
Ensign is a global leader in oilfield services, headquartered out of Calgary, Alberta, operating in Canada, the United States and internationally. Ensign is one of the world's top land-based drilling and well servicing contractors serving crude oil, natural gas and geothermal operators. Our premium services include contract drilling, directional drilling, underbalanced and managed pressure drilling, rental equipment, well servicing and production services. Please visit our website at www.ensignenergy.com.
Ensign's common shares are publicly traded though the facilities of the Toronto Stock Exchange under the trading symbol ESI.
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking information" that is prospective in nature. Forward-looking information is not based on historical facts, but rather on current expectations and projections about future events and are therefore subject to risks and uncertainties that could cause actual results to differ materially from the future results expressed or implied by the forward-looking information. Forward-looking information contained in this news release includes, but is not limited to, statements relating to the effective time of the redemption of the notes; the redemption price for the notes; and the use of Ensign's credit facilities to fund the redemption of the notes.
Although Ensign believes that the expectations reflected in such forward-looking information are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed on such statements. Forward-looking information in this news release is based on Ensign's beliefs and opinions at the time the information is given, and there should be no expectation that this forward-looking information will be updated or supplemented as a result of new information, estimates or opinions, future events or results or otherwise, and Ensign disavows and disclaims any obligation to do so except as required by applicable Law.
SOURCE Ensign Energy Services Inc.
For further information: Ensign Energy Services Inc., 400 - 5th Avenue S.W., Suite 1000, Calgary, Alberta T2P 0L6 Canada; Mike Gray, Chief Financial Officer, Telephone: (403) 262-1361
With headquarters in Calgary, Alberta, Ensign is an industry leader in the delivery of oilfield services. Since its inception in 1987, Ensign has accumulated an extensive equipment fleet characterized by flexibility and mobility for meeting the challenging demands of the oil and natural gas industry. We have also contributed to the advancements in drilling and well servicing through the...