Ensign Energy Services closes Citadel Drilling acquisition

Canada NewsWire

CALGARY, AB , Aug. 13, 2026 /CNW/ -- Ensign Energy Services Inc. ("Ensign") is pleased to announce that it has completed the acquisition of all of the issued and outstanding shares of Citadel Drilling Ltd. for consideration of US$65 million (subject to adjustments). All closing conditions were satisfied. Ensign funded the purchase price with cash on hand and available Credit Facilities.

Robert Geddes, Ensign's President and Chief Operating Officer, commented on the acquisition: "We are thrilled to welcome our new employees to the Ensign team and look forward to the smooth integration of both field and office employees. With our now expanded high-spec drilling fleet in the US Permian area, we look forward to leveraging these strong assets and the combined knowledge and experience of our highly trained workforce in the continuing delivery of high-quality performance, safety, and service to our customers."

About Ensign

Ensign is a global leader in oilfield services, headquartered out of Calgary, Alberta, operating in Canada, the United States and internationally. We are 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, underbalanced and managed pressure drilling, rental equipment, well servicing and production services. Please visit our website at ensignenergy.com .

Ensign's Common Shares are publicly traded through the facilities of the Toronto Stock Exchange under the trading symbol ESI.

Advisory Regarding Forward-Looking Statements

Forward‐looking information, or forward‐looking statements, have been included in this news release to provide information about the Transaction. This information may not be appropriate for other purposes. Forward‐looking statements are typically identified by words such as "anticipate", "expect", "project", "estimate", "forecast", "plan", "intend", "target", "believe", "likely" and similar words suggesting future outcomes or statements regarding an outlook. Forward‐looking information or statements in this news release include statements with respect to the Transaction. Although Ensign believes these forward‐looking statements are reasonable based on the information available on the date such statements are made and processes used to prepare the information, such statements are not guarantees of future performance and readers are cautioned against placing undue reliance on forward‐looking statements.

By their nature, these statements involve a variety of assumptions, known and unknown risks and uncertainties and other factors, which may cause actual results and achievements to differ materially from those expressed or implied by such statements. All forward‐looking statements, whether written or oral, attributable to Ensign and the Transaction are expressly qualified in their entirety by these cautionary statements.

SOURCE Ensign Energy Services Inc.

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Canada Newswire

August 13, 2026 - 3:30 PM PDT

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