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High Arctic Provides Update on Contract for Rig 115

Calgary, Canada – November 27, 2017 – High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or the “Corporation”) announces that it has signed a letter of intent with its customer in Papua New Guinea for High Arctic to be awarded a contract to drill two wells with Rig 115. The rig will commence mobilization in Q1 2018 and is expected to be on contract for approximately 180 days.

The parties are currently working to finalize the contract for these services, which will be subject to the parties receiving the requisite corporate approvals.

Mike Maguire, President International commented “The selection of rig 115 for this cost sensitive project is a result of working closely with our customer to plan the project using lean principals. We are confident that the success of this project will lead to further commitments for rig 115.”

Forward-Looking Statements

This Press Release contains forward-looking statements. When used in this document, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “seek”, “propose”, “estimate”, “expect”, and similar expressions are intended to identify forward-looking statements.  Such statements reflect the Corporation’s current views with respect to future events and are subject to certain risks, uncertainties and assumptions.  Many factors could cause the Corporation’s actual results, performance or achievements to vary from those described in this Press Release.  Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in this Press Release as intended, planned, anticipated, believed, estimated or expected. Specific forward-looking statements in this Press Release include, among others, the Corporation’s ability to finalize and execute the contract for Rig 115 and the Corporation’s opportunity for future commitments for rig 115.  In […]

High Arctic Announces Appointment of New Chief Executive Officer

Calgary, Canada – November 27, 2017 – High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or the “Corporation”) is pleased to announce the appointment of Mr. J. Cameron Bailey to the position of Chief Executive Officer effective today.

Mr. Bailey was most recently Managing Director, Investment Banking at Altacorp Capital responsible for Oil Field Services, Midstream and International Exploration and Development. He has had extensive experience as a founder, senior executive and board member managing the Canadian and international operations of oil field services companies. In addition, Mr. Bailey has relevant experience as a senior executive of public exploration and production companies in North America and emerging markets. He was formerly the founder and CEO of an E&P company operating in South America and founder and Chairman of an oil field services company operating in Canada and the United States.

Michael Binnion, Executive Chairman of the Board commented “After an extensive search for a new CEO, we are pleased that Cam has agreed to join High Arctic as our new CEO. We are confident that he will help to continue to deliver on High Arctic’s profitable growth and development while focusing on maintaining our strong safety culture and partnership with our customers.  In addition, Cam’s background and skills are ideally suited to further High Arctic’s focus on business development, both organically and through acquisitions. He shares High Arctic’s vision of efficient and safe operations and our safety culture.  I am pleased to welcome Cam to High Arctic on behalf of the board and it is fortuitous that we are touring our PNG operations this week to introduce him to this key part of our operations.”

About High Arctic

High Arctic is a publicly traded company listed on the […]

UPDATE — November ex-dividend Date Clarification

CALGARY, Alberta, Nov. 22, 2017 (GLOBE NEWSWIRE) — High Arctic Energy Services Inc. (TSX:HWO) (“High Arctic” or the “Corporation”) is providing an update to the previously announced ex-dividend date for its upcoming December dividend.  The dividend is payable on December 14, 2017 to holders of High Arctic common shares of record at the close of business on November 30, 2017.  The ex-dividend date is November 29, 2017.  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’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, 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:

Michael Binnion            
Interim President & CEO
Phone: 403 807 7375
Email: michael.binnion@haes.ca

Brian Peters
Chief Financial Officer
Phone: 587-318-2218
Email: brian.peters@haes.ca

High Arctic Declares Monthly Dividend

CALGARY, Alberta, Nov. 21, 2017 (GLOBE NEWSWIRE) — 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 December 14, 2017 to holders of High Arctic common shares of record at the close of business on November 30, 2017. The ex-dividend date is November 28, 2017. 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’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, 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:

Michael Binnion
Interim President & CEO
Phone: 403 807 7375
Email: michael.binnion@haes.ca

Brian Peters
Chief Financial Officer
Phone: 587-318-2218
Email: brian.peters@haes.ca

High Arctic Reports 2017 Third Quarter Results

High Arctic Reports 2017 Third Quarter Results

AMENDMENT: High Arctic to Announce Third Quarter Results and Host Q3 Conference Call

Calgary, Alberta October 30, 2017: High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or the “Corporation”) will release its 2017 third quarter results on Thursday November 9, 2017 after markets close and will host a conference call on November 10, 2017 at 10:30 a.m. MT (12:30 p.m. ET).

To access the conference call by telephone, dial: 800-273-9672 or 416-340-2218. 

The conference call will be available for replay two hours after the call ends at 1-800-408-3053 and entering passcode 6689294#. It will remain available until November 17, 2017. An audio recording of the call will also be available within 24 hours on the company’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 by newswire.

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:

Michael Binnion
Interim President & CEO
Phone: 403-807-7375
Email: michael.binnion@8e4.ddf.myftpupload.com

Brian Peters
Chief Financial Officer
Phone: 587-318-2218
Email: brian.peters@8e4.ddf.myftpupload.com

High Arctic Provides Update on Contract for Rig 116

Calgary, Canada – October 30, 2017 – High Arctic Energy Services Inc. (“High Arctic” or the “Corporation”) announces that it has reached an agreement with its customer, a super major operator in Papua New Guinea (“PNG”), on the take-or-pay contract for Rig 116.

The original contract signed with InterOil Corporation (“InterOil”) contemplated a two year take-or-pay drilling services term from the spud of the first well.   After the recent takeover of Interoil by High Arctic’s customer, the customer commenced discussions with High Arctic in regards to this rig.

In an effort to work collaboratively with the customer with a view towards future services opportunities, the Corporation has agreed to a deemed spud date of November 2nd, 2016.  This deemed spud date coincides with the commencement of drilling on Antelope 7 which was completed with Rig 115 at another customer’s request due to its proximity to the wellsite location, however, this well could have been drilled with Rig 116 which would have resulted in the commencement of the two year take-or-pay drilling services term.  As a result the rig will remain under its take-or-pay contract until November 2, 2018.

In conjunction with the customer’s acquisition of InterOil and the associated drilling contracts, the customer conducted a contractor qualification review for High Arctic related to future work in PNG. As a result of this review, supported by High Arctic’s strong track record in PNG, the Corporation is pleased to announce that High Arctic has been recognized as a qualified vendor providing High Arctic with the opportunity to participate in the bidding process for additional drilling and related services in PNG beyond the contract for Rig 116.

Michael Binnion commented “Being recognized as a qualified vendor is a testament to the tier […]

High Arctic Declares Monthly Dividend

Calgary, Canada – September 20, 2017 – 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 13, 2017 to holders of High Arctic common shares of record at the close of business on September 29, 2017.  The ex-dividend date is September 27, 2017.  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’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, 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:

Michael Binnion
Interim President & CEO
Phone: 403-807-7375
Email: michael.binnion@8e4.ddf.myftpupload.com

Brian Peters
Chief Financial Officer
Phone: 587-318-2218
Email: brian.peters@8e4.ddf.myftpupload.com