Ensign Energy Services (Ensign Energy Services) Long-Term Capital Lease Obligation : $9 Mil (As of Dec. 2023)

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What is Ensign Energy Services Long-Term Capital Lease Obligation?

Ensign Energy Services's Long-Term Capital Lease Obligation for the quarter that ended in Dec. 2023 was $9 Mil.

Ensign Energy Services's quarterly Long-Term Capital Lease Obligation increased from Jun. 2023 ($6 Mil) to Sep. 2023 ($9 Mil) but then declined from Sep. 2023 ($9 Mil) to Dec. 2023 ($9 Mil).

Ensign Energy Services's annual Long-Term Capital Lease Obligation increased from Dec. 2021 ($3 Mil) to Dec. 2022 ($4 Mil) and increased from Dec. 2022 ($4 Mil) to Dec. 2023 ($9 Mil).

Ensign Energy Services Long-Term Capital Lease Obligation Historical Data

The historical data trend for Ensign Energy Services's Long-Term Capital Lease Obligation can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Ensign Energy Services Long-Term Capital Lease Obligation Chart

Ensign Energy Services Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Long-Term Capital Lease Obligation

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7.23

4.72

3.38

4.38

8.64

Ensign Energy Services Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															4.38	3.98	5.87	9.37	8.64

Ensign Energy Services (OTCPK:ESVIF) Long-Term Capital Lease Obligation Explanation

Long-Term Capital Lease Obligation are the amount due for long-term asset lease agreements that are nearly equivalent to asset purchases. Capital lease obligations are installment payments that constitute a payment of principal plus interest for the capital lease. The Short-Term Capital Lease Obligation is the portion of a Long-Term Capital Lease Obligation that is due over the next year.

Under US Generally Accepted Accounting Principles (GAAP), a capital lease is essentially equivalent to a purchase by the lessee if it meets the following criteria:

1. Ownership of the asset is transferred to the lessee at the end of the lease term;
2. The lease contains a bargain purchase option to buy the equipment at less than fair market value;
3. The lease term equals or exceeds 75% of the asset's estimated useful life;
4. The present value of the lease payments equals or exceeds 90% of the total original cost of the equipment.

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Ensign Energy Services (Ensign Energy Services) Business Description

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GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Ensign Energy Services Inc (OTCPK:ESVIF) » Definitions » Long-Term Capital Lease Obligation

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ENB:Germany ESI:Canada

Address

400, 5th Avenue South West, Suite 1000, Calgary, AB, CAN, T2P 0L6

Website

https://www.ensignenergy.com

Ensign Energy Services Inc provides oilfield services to the crude oil and natural gas industries in Canada, the United States, and internationally. In Canada, the Company's oilfield services business includes drilling rigs, oil sands/coring rigs, well servicing, underbalanced and managed pressure drilling, and equipment rental services. In the United States, it offers drilling rigs, directional services, well servicing, equipment rental services, and trucking services, and Internationally, It offers drilling and workover rigs. Geographically the company operates in nine countries; Canada, the United States, Argentina, Australia, Bahrain, Kuwait, Oman, United Arab Emirates, and Venezuela.