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High Arctic Reports 2018 Third Quarter Results

High Arctic Reports 2018 Third Quarter Results

High Arctic Announced Third Quarter Results and Hosts Q3 Conference Call

Calgary, Alberta November 9, 2018: High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or the “Corporation”) released its 2018 third quarter results on Thursday, November 8th, 2018 after markets closed and will host a conference call on Friday, November 9, 2018 at 11:00 a.m. MT (1:00 p.m. ET).

To access the conference call by telephone, dial: 1-888-254-3590 or 416-640-5944.

The conference call will be available for replay two hours after the call ends at 1-800-408-3053 and entering passcode 2897193# and will remain available until December 13, 2018. An audio recording of the call will also be available within 24 hours on High Arctic’s website at www.haes.ca. Financial Statements and Management’s Discussion and Analysis will also be posted to www.haes.ca and SEDAR after the results are released.

About High Arctic

High Arctic is a publicly traded company listed on the Toronto Stock Exchange under the symbol “HWO”. The Corporation’s principal focus is to provide drilling and specialized well completion services, equipment rentals and other services to the oil and gas industry.
High Arctic’s largest operation is in Papua New Guinea where it provides drilling and specialized well completion services and supplies rig matting, camps and drilling support equipment on a rental basis. The Canadian operation provides well servicing, snubbing services, nitrogen supplies and equipment on a rental basis to a large number of oil and natural gas exploration and production companies operating in Western Canada.

For further information contact:

J. Cameron Bailey
Chief Executive Officer
Phone: 587-318-3826
cam.bailey@haes.ca

Jim Hodgson
Chief Financial Officer
Phone: 587-318-2218
jim.hodgson@haes.ca

High Arctic Declares Monthly Dividend

Calgary, Canada – October 22, 2018 – High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or the “Corporation”) is pleased to announce that its Board of Directors has approved a monthly dividend payment of $0.0165 per share to holders of common shares. The dividend is payable on November 14, 2018 to holders of High Arctic common shares of record at the close of business on October 31, 2018. The ex-dividend date is October 30, 2018. The dividend is designated as an “eligible dividend” for Canadian Income Tax purposes.

About High Arctic

High Arctic is a publicly traded company listed on the Toronto Stock Exchange under the symbol “HWO”. The Corporation’s principal focus is to provide drilling and specialized well completion services, equipment rentals and other services to the oil and gas industry.
High Arctic is a market leader providing drilling and specialized well completion services and supplies rig matting, camps and drilling support equipment on a rental basis in Papua New Guinea. The Canadian and US operations provide well servicing, well abandonment, snubbing and nitrogen services and equipment on a rental basis to a large number of oil and natural gas exploration and production companies operating in Western Canada and the United States.

For more information, please contact:

J. Cameron Bailey
Chief Executive Officer
Phone: 587-318-3826
cam.bailey@haes.ca

Jim Hodgson
Chief Financial Officer
Phone: 587-318-2218
jim.hodgson@haes.ca

High Arctic Declares Monthly Dividend

Calgary, Canada – September 19, 2018 – High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or the “Corporation”) is pleased to announce that its Board of Directors has approved a monthly dividend payment of $0.0165 per share to holders of common shares. The dividend is payable on October 12, 2018 to holders of High Arctic common shares of record at the close of business on September 28, 2018. The ex-dividend date is September 27, 2018. The dividend is designated as an “eligible dividend” for Canadian Income Tax purposes.

About High Arctic

High Arctic is a publicly traded company listed on the Toronto Stock Exchange under the symbol “HWO”. The Corporation’s principal focus is to provide drilling and specialized well completion services, equipment rentals and other services to the oil and gas industry.
High Arctic is a market leader providing drilling and specialized well completion services and supplies rig matting, camps and drilling support equipment on a rental basis in Papua New Guinea. The Canadian and US operations provide well servicing, well abandonment, snubbing and nitrogen services and equipment on a rental basis to a large number of oil and natural gas exploration and production companies operating in Western Canada and the United States.

For more information, please contact:

J. Cameron Bailey
Chief Executive Officer
Phone: 587-318-3826
cam.bailey@haes.ca

Jim Hodgson
Chief Financial Officer
Phone: 587-318-2218
jim.hodgson@haes.ca

High Arctic Declares Monthly Dividend

Calgary, Canada – August 22, 2018 – High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or the “Corporation”) is pleased to announce that its Board of Directors has approved a monthly dividend payment of $0.0165 per share to holders of common shares. The dividend is payable on September 14, 2018 to holders of High Arctic common shares of record at the close of business on August 31, 2018. The ex-dividend date is August 30, 2018. The dividend is designated as an “eligible dividend” for Canadian Income Tax purposes.

About High Arctic

High Arctic is a publicly traded company listed on the Toronto Stock Exchange under the symbol “HWO”. The Corporation’s principal focus is to provide drilling and specialized well completion services, equipment rentals and other services to the oil and gas industry.
High Arctic is a market leader providing drilling and specialized well completion services and supplies rig matting, camps and drilling support equipment on a rental basis in Papua New Guinea. The Canadian operation provides well servicing, well abandonment, snubbing and nitrogen services and equipment on a rental basis to a large number of oil and natural gas exploration and production companies operating in Western Canada.

For more information, please contact:

J. Cameron Bailey
Chief Executive Officer
Phone: 587-318-3826
Email: cam.bailey@haes.ca

Jim Hodgson
Chief Financial Officer
Phone: 587-318-2218
Email: jim.hodgson@haes.ca

High Arctic Announces Acquisition of Powerstroke and Expansion into the United States

Calgary, Canada – August 20, 2018 – High Arctic Energy Services Inc (“High Arctic”) is pleased to announce it has acquired all of the shares of Powerstroke Well Control Ltd (“Powerstroke”), increasing its snubbing and well service fleet and expanding its geographic footprint.

Powerstroke is a well service company established in 2004, currently operating a total of eight hydraulic work over units and a heavy capacity new build service rig and drilling package. Powerstroke is headquartered in Grand Prairie, Alberta, and has offices in Greeley, Colorado and Williston, North Dakota, where they have been successfully offering snubbing service and well services to companies operating in the Bakken, North Dakota and in the Niobrara, Colorado. The purchase price is a total of $9.4 million which consists of the reimbursement of costs for the new build service rig and the balance based on an adjusted EBITDA multiple of 5x for the established snubbing business.

The acquisition establishes an entry into the United States for High Arctic, where it plans on expanding its well service offering. The trend toward longer well bores and increased number of stages in each well bore has increased the demand for pressure control equipment required for well completions. After the acquisition High Arctic will own 17 snubbing units, making it the largest snubbing operator in Canada. Of the total fleet of 17 snubbing units it is planned that eight units will be marketed in the United States, initially focused on well service and completion work in the Niobrara and the Bakken.

The acquisition will also allow for immediate service rig equipment deployment in the United States, and increases High Arctic’s well service rig count to 58. As […]

High Arctic Reports 2018 Second Quarter Results

High Arctic Reports 2018 Second Quarter Results

High Arctic Announces Agreement with Oil Search Limited

Calgary, Canada – August 9, 2018: High Arctic Energy Services Inc is pleased to announce that it has agreed to terms with Oil Search Limited (“OSL”, http://www.oilsearch.com/) for a three year contract renewal for its primary contracts in Papua New Guinea (“PNG”) covering the Drilling Rigs 103 and 104 and the drilling support services related to the supply of personnel and rental equipment to support the related drilling operations. The renewal will be effective August 1, 2018 for a three year term and includes options to further extend on the same terms and conditions.

The two parties have agreed to suspend any further discussions on the formation of a joint owned drilling company but have not ruled out revisiting discussions on a commercial arrangement regarding the ownership and operations management of the OSL drilling rigs in PNG again in the future.
Commenting on the renewal, Bill Easson, General Manager Drilling, for OSL, said; “The renewal of these contracts follows a long period of joint review of the best commercial mechanisms to most cost effectively deliver high quality drilling services in Papua New Guinea. Over the last decade, our companies have forged a strong partnership that continues to set the benchmark for safe and efficient well construction in the challenging PNG environment. This contract commitment reflects Oil Search’s recognition of, and confidence in, High Arctic’s quality service delivery in Papua New Guinea.”

The PNG-LNG facility which was shutdown for a period following a significant earthquake in February has returned to full production (more details can be found at http://www.pnglng.com.) High Arctic anticipates the announcement of a decision to expand this facility and develop the Papua LNG project as per guidance provided by the main participants earlier this year. With […]