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technically trained crews, while expanding
Ensign’s client base and providing cost
synergies. Additionally, Nabors’ deeper high-
spec fleet in Canada is equipped similarly
to Ensign’s high-spec fleet, with automated
drilling controls systems. This technical
alignment, right at the drilling rig level, will
help Ensign to accelerate the adaptation of
more sophisticated drilling control systems
that continue to drive innovation, creating
value to our clients, all while reducing net
emissions. Ensign looks forward to the
guidance range of $20mn to $35mn.” emissions from the industry average of two Nabors’ employees becoming part of the
“The business continues to produce strong months to less than one day. The Company Ensign team.”
free cash flow, which will enable us to reduce estimates each leak corrected through the ENSIGN ENERGY SERVICES AND NABORS
outstanding net indebtedness by nearly AssetCare solution has the potential to INDUSTRIES, June 24, 2021
$82mn by the end of the second quarter eliminate up to 50 tons in CO2e emissions.
and will continue to allow us to reduce our mCloud will partner with Prosaris to
outstanding debt balance for the foreseeable support the development of an intrinsically- MOVES
future.” safe version of their ultrasonic detector in
SUMMIT MIDSTREAM PARTNERS, June 21, return for time-limited exclusive access to this Talos Energy announces
2021 detector within oil and gas. This partnership
complements the recent success Prosaris has successful extension of its
had in securing funding and support from
SERVICES Sustainable Development Technology Canada. credit facility to November
Both mCloud and Prosaris plan to work
mCloud begins field together to target thousands of oil and gas 2024 and borrowing base
sites across Western Canada and the United
deployment of AssetCare™ States in the months ahead. Commercial redetermination
rollouts of the solution are underway with oil
fugitive gas solution with and gas operators in the province of Alberta, Talos Energy today announced the
completion of amendments to its reserves-
with Alberta-based AltaGas to be among the
oil and gas operators in first recipients of the solution connecting their based lending facility, including a significant
workforce at several of their key facilities.
maturity extension to November 2024.
Alberta MCLOUD TECHNOLOGIES, June 23, 2021 Following the amendments, Talos has
minimal near-term debt maturities, strong
mCloud Technologies, a leading provider Ensign Energy Services and liquidity and expects to be significantly free
of AI-powered asset management and ESG cash flow positive for the balance of 2021.
solutions today announced it has partnered Nabors Industries announce The borrowing base under the credit
with Halifax-based Prosaris Solutions, facility was approved at $950mn by 100% of
developers of a cutting-edge, mobile, wireless the sale of Nabors’ the lending syndicate consisting of twelve
ultrasonic detector capable of reliably energy lending commercial banks, reflecting
quantifying air and gas leaks as the Company Canadian drilling assets to the high quality of the company’s diverse,
begins the rollout of a new AssetCare solution liquids-weighted asset base. Maturity of the
targeting fugitive gas emissions. Ensign Energy Services credit facility was extended from May 2022 to
As announced in February 2021, mCloud November 2024, or approximately three and
is launching an AssetCare solution that Ensign Energy Services and Nabors Industries a half years from the date of the amendments.
will uniquely pair the Prosaris offering are pleased to announce that they, through Current commitments under the credit
with AssetCare’s industrial AI to enable the their subsidiaries, have entered into an facility are $655mn. At June 30, 2021, Talos
continuous inspection and correction of gas agreement for Ensign to acquire, subject expects liquidity of approximately $300mn
leaks at oil and gas facilities, known to be one to certain closing conditions and receipt of with $400mn drawn under its credit facility,
of the primary causes of harmful emissions required regulatory approvals, Nabors’ fleet of reduced from $465mn drawn as of March
in the sector. Research from McKinsey and 35 land-based drilling rigs located in Canada, 31, 2021. The next scheduled borrowing base
Company indicates nearly half of all oil and as well as related equipment and certain real redetermination will be around November
gas emissions can be traced to these “fugitive property. Ensign will be funding the purchase 2021. The supportive commodity price
gas” emissions, the unintended release price with cash on hand and available credit environment is expected to lead to a further
of harmful gases such as methane from facilities. reduction in borrowings under the credit
industrial equipment including pipelines, Robert Geddes, Ensign’s president and facility, increasing liquidity and allowing the
wells, and storage tanks. chief operating officer, commented on the company to return to historical pre-pandemic
Through continuous detection and transaction: “The acquisition of Nabors’ assets leverage levels ahead of prior expectations.
correction, mCloud expects to reduce the in Canada provides Ensign an expanded fleet TALOS ENERGY, June 22, 2021
time to detect and curb the sources of harmful of high-spec drilling rigs along with highly

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