Ensign’s $700 Million Senior Notes Offering

The Firm recently represented Ensign Energy Services Inc. (“Ensign”) in connection with the inaugural Rule 144A/Regulation S offering by Ensign Drilling Inc., a wholly owned subsidiary of Ensign, of $700 million aggregate principal amount 9.25% Senior Notes due 2024.

Ensign used the net proceeds of the offering and cash on hand to repay all outstanding loans under Ensign’s $700 million senior loan facility and to pay related fees and expenses.

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.

The Simpson Thacher team included Richard Fenyes (Picture), Lia Toback and Christine Turner (Capital Markets); Brian Gluck (Banking and Credit); Jonathan Cantor and Sarah Katz (Tax); Eric Wolf (Executive Compensation and Employee Benefits); and Michael Isby (Environmental).

Involved fees earner: Jonathan Cantor – Simpson Thacher & Bartlett; Richard Fenyes – Simpson Thacher & Bartlett; Brian Gluck – Simpson Thacher & Bartlett; Michael Isby – Simpson Thacher & Bartlett; Sarah Katz – Simpson Thacher & Bartlett; Lia Toback – Simpson Thacher & Bartlett; Christine Turner – Simpson Thacher & Bartlett; Eric Wolf – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Ensign Energy Services Inc.;

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Author: Ambrogio Visconti