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Released August 14, 2025 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Ensign Energy Services (Calgary, Alberta), an oil and gas exploration services provider, expects market conditions for oil and gas to remain steady and "constructive" for the remainder of 2025, despite global headwinds and uncertainties around trade policies that it says have put a downward pressure on prices. Industrial Info is tracking about US$8 billion worth of active and proposed projects featuring Ensign's services, more than US$6 billion of which is attributed to projects in Alberta.
Click on the image at right for a graph detailing the top 10 parent companies for projects featuring Ensign's services, by total investment value.
Among Ensign's most active customers is Tourmaline Oil Corporation (Calgary), the largest natural gas producer in Canada, which awarded Ensign drilling contracts for some of its largest programs in the Montney Shale. These include two in northeastern British Columbia: the US$90 million Gundy Field and the US$95 million Gundy South Field programs near Dawson Creek, which will drill at least 15 and 22 new wells, respectively, to supply Tourmaline's local processing plants with natural gas, condensate and natural gas liquids (NGL) feed.
On the Alberta side of the Montney Shale, Ensign is performing services for Tourmaline's US$175 million Peace River Oil Sands program, which will drill at least 20 new wells to increase crude oil, natural gas and NGL feed to the Spirit River Mulligan Plant. All three programs started in April and are slated to wrap up at the end of the year. Subscribers to Industrial Info's Global Market Intelligence (GMI) Oil & Gas Project Database can read detailed reports on the Gundy, Gundy South and Peace River projects.
Tourmaline expects to add 1.1 billion cubic feet per day of new gas production and more than 50,000 barrels per day (BBL/d) of condensate and NGLs from its Montney holdings over the next six years. Tourmaline already is the largest liquids producer in northeastern British Columbia.
Canadian Natural Resources Limited (CNRL) (Calgary, Alberta) also is expanding its operations in northeastern British Columbia, including two developments at its Pine River Processing Plant in Chetwynd: a US$130 million drilling program in the Pine River Field and a US$125 million drilling program in the Septimus Field, each of which involves drilling roughly 20 wells to expand CNRL's production of natural gas, condensate and liquids production, as well as better define the prospect. Subscribers can read detailed reports on the projects in the Pine River and Septimus fields.
CNRL has benefited from stronger output at its existing assets and a series of acquisitions across the Montney Shale so far this year. For more information, see August 12, 2025, article - CNRL Adds Montney Acreage as Oil, Gas, NGL Output Set to Grow.
Other developers working with Ensign in Alberta include Advantage Energy Limited (Calgary), which is drilling 15 new natural gas wells for its US$165 million Glacier Field program and is drilling 14 new NGL and crude oil wells for its US$105 million Charlie Lake program. Advantage's total production for the first half of 2025 averaged 80,925 barrels of oil equivalent per day (BOE/d), a 22% increase from the same period last year, which the company partly attributed to its acquisition of Charlie Lake in 2024. Subscribers can read detailed reports on the projects in the Glacier Field and at Charlie Lake.
Ensign's revenues for the second quarter stood at C$372.4 million, a 5% drop from the second quarter of 2024. The company recorded a net loss of C$26.4 million, compared with a loss of C$4.5 million in the same period last year. In a quarterly earnings-related press release, the company attributed much of the losses to the U.S.-based side of its business.
"Geopolitical tensions and global trade uncertainties have kept activity in the U.S. subdued and [have] reinforced customer capital discipline in regard to drilling programs," Ensign said. "Volatile commodity prices and shifts in the U.S. trade policies under the new administration, including tariffs, are further clouding the global economic outlook and pressuring commodity prices. Additionally, OPEC+ nations easing voluntary production cuts has increased crude supply, keeping a ceiling on crude oil commodity prices."
Subscribers to Industrial Info's GMI Project and Plant databases can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a full list of detailed reports for active and proposed projects featuring Ensign.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
Click on the image at right for a graph detailing the top 10 parent companies for projects featuring Ensign's services, by total investment value.Among Ensign's most active customers is Tourmaline Oil Corporation (Calgary), the largest natural gas producer in Canada, which awarded Ensign drilling contracts for some of its largest programs in the Montney Shale. These include two in northeastern British Columbia: the US$90 million Gundy Field and the US$95 million Gundy South Field programs near Dawson Creek, which will drill at least 15 and 22 new wells, respectively, to supply Tourmaline's local processing plants with natural gas, condensate and natural gas liquids (NGL) feed.
On the Alberta side of the Montney Shale, Ensign is performing services for Tourmaline's US$175 million Peace River Oil Sands program, which will drill at least 20 new wells to increase crude oil, natural gas and NGL feed to the Spirit River Mulligan Plant. All three programs started in April and are slated to wrap up at the end of the year. Subscribers to Industrial Info's Global Market Intelligence (GMI) Oil & Gas Project Database can read detailed reports on the Gundy, Gundy South and Peace River projects.
Tourmaline expects to add 1.1 billion cubic feet per day of new gas production and more than 50,000 barrels per day (BBL/d) of condensate and NGLs from its Montney holdings over the next six years. Tourmaline already is the largest liquids producer in northeastern British Columbia.
Canadian Natural Resources Limited (CNRL) (Calgary, Alberta) also is expanding its operations in northeastern British Columbia, including two developments at its Pine River Processing Plant in Chetwynd: a US$130 million drilling program in the Pine River Field and a US$125 million drilling program in the Septimus Field, each of which involves drilling roughly 20 wells to expand CNRL's production of natural gas, condensate and liquids production, as well as better define the prospect. Subscribers can read detailed reports on the projects in the Pine River and Septimus fields.
CNRL has benefited from stronger output at its existing assets and a series of acquisitions across the Montney Shale so far this year. For more information, see August 12, 2025, article - CNRL Adds Montney Acreage as Oil, Gas, NGL Output Set to Grow.
Other developers working with Ensign in Alberta include Advantage Energy Limited (Calgary), which is drilling 15 new natural gas wells for its US$165 million Glacier Field program and is drilling 14 new NGL and crude oil wells for its US$105 million Charlie Lake program. Advantage's total production for the first half of 2025 averaged 80,925 barrels of oil equivalent per day (BOE/d), a 22% increase from the same period last year, which the company partly attributed to its acquisition of Charlie Lake in 2024. Subscribers can read detailed reports on the projects in the Glacier Field and at Charlie Lake.
Ensign's revenues for the second quarter stood at C$372.4 million, a 5% drop from the second quarter of 2024. The company recorded a net loss of C$26.4 million, compared with a loss of C$4.5 million in the same period last year. In a quarterly earnings-related press release, the company attributed much of the losses to the U.S.-based side of its business.
"Geopolitical tensions and global trade uncertainties have kept activity in the U.S. subdued and [have] reinforced customer capital discipline in regard to drilling programs," Ensign said. "Volatile commodity prices and shifts in the U.S. trade policies under the new administration, including tariffs, are further clouding the global economic outlook and pressuring commodity prices. Additionally, OPEC+ nations easing voluntary production cuts has increased crude supply, keeping a ceiling on crude oil commodity prices."
Subscribers to Industrial Info's GMI Project and Plant databases can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a full list of detailed reports for active and proposed projects featuring Ensign.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
