Ensign Announces Redemption of its Senior Guaranteed Notes

CALGARY, Jan. 10, 2019 /CNW/ - Ensign Energy Services Inc. (TSX:ESI) ("Ensign") is pleased to announce that pursuant to its notice of redemption dated December 6, 2018 to all holders of its outstanding USD $200 million in senior guaranteed notes (the "Notes"), comprised of USD $100 million of 3.97% Notes, due February 22, 2019, and USD $100 million of 4.54% Notes, due February 22, 2022 (collectively, the "Notes"), Ensign's wholly-owned subsidiary, Ensign US Financial (Delaware) LP,  has redeemed in full all such Notes. The total price for such redemption was USD $205.1 million, which includes the principal amount of the 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 used a combination of cash on hand and capacity in its revolving credit facility to facilitate this payment.

ABOUT ENSIGN

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.

SOURCE Ensign Energy Services Inc.