Ensign Energy Services Inc. announced that on December 31, 2020, the Company amended and extended the existing $900.0 million revolving credit facility agreement with its syndicate of lenders. The amendments and one-year extension provide Ensign with continued access to revolver capacity and near-term flexibility in a volatile oil price environment. The amendments to the Credit Facility include revisions to the financial covenants as follows: The elimination of the Consolidated Total Debt to Consolidated EBITDA ratio and replacement with a minimum Consolidated EBITDA requirement of $140.0 million. The Consolidated EBITDA to Consolidated Interest Expense ratio shall not be less than: (i) 1.75:1.00 for the Fiscal Quarter ending December 31, 2020, (ii) 1.50:1.00 for the Fiscal Quarters ending March 31, 2021, June 30, 2021, and September 30, 2021, (iii) 1.75:1.00 for the Fiscal Quarter ending December 31, 2021, (iv) 2.00:1.00 for the Fiscal Quarter ending March 31, 2022, (v) 2.25:1.00 for the Fiscal Quarters ending June 30, 2022, and September 30, 2022, and (vi) 2.50:1.00 at any time thereafter. The Consolidated Senior Debt to Consolidated EBITDA ratio shall not exceed: (i) 3.50:1.00 for the Fiscal Quarter ending December 31, 2020, (ii) 4.00:1.00 for the Fiscal Quarters ending March 31, 2021, June 30, 2021, September 30, 2021, and December 31, 2021, (iii) 3.50:1.00 for the Fiscal Quarter ending March 31, 2022, (iv) 3.25:1.00 for the Fiscal Quarters ending June 30, 2022, and September 30, 2022, (v) 3.00:1.00 at any time thereafter. In addition, the permitted encumbrances have been reduced from $75.0 million to $25.0 million. The maturity date of the Credit Facility is November 25, 2022; provided that if on or before September 30, 2021, the maturity date of the Company's existing Convertible Debentures is not extended from January 22, 2022, to a date no earlier than February 26, 2023, then the maturity date of the Credit Facility shall automatically be amended to November 29, 2021.