PHX Energy Services Corp. rose the most in three years after the Canadian oil and natural-gas drilling company said profit last year reached a record and boosted its dividend.
PHX Energy rose 15 percent to C$11.44 at the close in Toronto, the biggest gain since Jan. 30, 2009.
Earnings before interest, depreciation and amortization increased 79 percent in 2011 to C$45 million ($45.5 million) helped by a “robust” demand for drilling in North America, the company said in a statement after the close of regular trading yesterday.
The company also boosted its dividend 50 percent for this year to 72 cents a share from 48 cents, according to the statement.
PHX Energy plans to expand this year with projects in Russia, Albania and Colombia, the company said.