Red Deer, Canada – February 1, 2013 – High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or the “Company”) is pleased to announce that its Board of Directors has approved a total capital budget of $32 million for 2013. This budget includes growth capital expenditures of $21 million, maintenance capital expenditures of $7 million and approximately $4 million for the building of the previously announced facility in Grande Prairie, Alberta. Included in the $32 million is $6 million of capital expenditures that were committed during fiscal 2012 but which had not yet been completed at year-end and are thus carried into 2013. The 2013 capital expenditures are anticipated to be funded from the 2013 operating cash flow and cash on hand.
Jay Wilcox
High Arctic Declares Monthly Dividend
Red Deer, Canada – January 15, 2013– 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 $0.01 per share to holders of common shares. The dividend is payable on February 14, 2013, to holders of High Arctic common shares of record at the close of business on January 31, 2013. The ex-dividend date is January 29, 2013. The dividend is designated as an “eligible dividend” for Canadian Income Tax purposes.
High Arctic Appoints CFO
Red Deer, Canada – January 7, 2013 – High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or the “Corporation”) is pleased to announce that Ken Olson has been appointed as Chief Financial Officer effective immediately. Ken is a Chartered Accountant with over twenty years of finance and management experience. Most recently, Ken spent six years as Vice President, Corporate Finance of a large oilfield services company with extensive international operations. As CFO, he will be responsible for the overall financial management of High Arctic and will be located in Calgary.
High Arctic Declares Monthly Dividend
Red Deer, Canada – December 14, 2012– 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 $0.01 per share to holders of common shares. The dividend is payable on January 14, 2013, to holders of High Arctic common shares of record at the close of business on December 31, 2012. The ex-dividend date is December 27, 2012. The dividend is designated as an “eligible dividend” for Canadian Income Tax purposes.
High Arctic Declares Monthly Dividend
Red Deer, Canada – November 21, 2012– 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 $0.01 per share to holders of common shares. The dividend is payable on December 14, 2012, to holders of High Arctic common shares of record at the close of business on November 30, 2012. The ex-dividend date is November 28, 2012.The dividend is designated as an “eligible dividend” for Canadian Income Tax purposes.
High Arctic Reports 28% increase in 3rd Qtr EBITDA
Red Deer, Canada – November 14, 2012 – High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or the “Company”) today announced its operating and financial results for the third quarter of 2012.
High Arctic continued its strong year over year growth in revenue, EBITDA and net earnings in the third quarter of 2012. Adjusted EBITDA increased 28% to $10.1 million in the quarter and by 33% to $29.6 million for the nine months ended September 30, 2012 as compared to the same periods of last year. Papua New Guinea generated higher revenue and contributed to the strong showing in the quarter as the Company continued to benefit from the capital additions made during 2011 and early 2012.
High Arctic Announces Extension & Amendment of Credit Facilities
Red Deer, Canada – October 26, 2012 – High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or the “Corporation”) is pleased to announce that it has now completed an extension and amendment of its credit facilities with its current lender that provides improved borrowing terms. The main components of the new two year committed credit facilities are a $30 million revolving loan and a $5 million revolving operating loan. The effective date of the amended credit facilities is October 1, 2012 and the maturity date of both main components is August 31, 2014. The credit facilities continue to be secured by all of the assets of High Arctic and by guarantees given by its material foreign subsidiaries.
High Arctic Declares Monthly Dividend
Red Deer, Canada – October 19, 2012– 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 $0.01 per share to holders of common shares. The dividend is payable on November 14, 2012, to holders of High Arctic common shares of record at the close of business on October 31, 2012. The ex-dividend date is October 29, 2012.The dividend is designated as an “eligible dividend” for Canadian Income Tax purposes.
High Arctic Announces Executive Changes
Red Deer, Canada – October 1, 2012 – High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or the “Corporation”) announces that Robert Morin is leaving his position as Chief Financial Officer effective immediately. Dennis Sykora, Executive Vice President and General Counsel, will be acting Chief Financial Officer while a suitable replacement is recruited. Dennis has provided financial leadership at High Arctic during the past 5 years.
High Arctic Declares Monthly Dividend
Red Deer, Canada – September 18, 2012– 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 $0.01 per share to holders of common shares. The dividend is payable on October 12, 2012, to holders of High Arctic common shares of record at the close of business on September 28, 2012. The ex- dividend date is September 26, 2012.The dividend is designated as an “eligible dividend” for Canadian Income Tax purposes.