Stock price when the opinion was issued
It is paying down debt at $200 million per year and is half-way through the process of paying off the total of $600 million. When debt is paid off and it is generating $200 million excess capital it can use this capital for dividends and share buybacks. As they approach this point we should see the stock price increase. It is worth about $450 million today. Buy 7 Hold 2 Sell 0
Oil/gas dipped on fears of US tariffs, but have recovered. ESI is diversified with half their rigs in the US. It's the third year of their 3-year debt repayment plan.