04:04 PM EST - Ensign Energy Services Inc. : said on Monday its first quarter profit fell 20 percent as Canadian petroleum producers cut back on drilling new wells. Ensign, Canada's No. 2 oilfield-services firm, said its net income fell to $102.3 million, or 66 cents a share, from $127.9 million, or 81 cents, in the first quarter of 2006. The company said adjusted net income, which excludes the cost of stock-based compensation, fell 18 percent to $106.1 million, or 68 cents, from $129.4 million, or 82 cents, in the year-earlier quarter. Ensign Energy Services Inc.
shares T.ESI are trading up 59 cents at $19.89.
