High Arctic Announces the Change to its Chief Financial Officer
CALGARY, Alberta, May 02, 2018 (GLOBE NEWSWIRE) — High Arctic Energy Services Inc. (HWO.TO) (“High Arctic” or the “Corporation”) announces the departure of its Chief Financial Officer, Brian Peters effective May 18th, 2018. The Board would like to take this opportunity to express its gratitude to Mr. Peters for his efforts and contribution during his three-year tenure with the Company, including the integration of the Tervita acquisition in 2016. His efforts have contributed to positioning High Arctic for future growth and success. We wish him the best with his future endeavors.
High Arctic is pleased to announce that Mr. James (Jim) Hodgson, a member of the Board of Directors, has agreed to accept the appointment of Chief Financial Officer, effective May 18, 2018. Since Mr. Hodgson will become an officer of the Company, he has agreed not to stand for re-election to the Board of Directors at the Annual Meeting of Shareholders on May 10th, 2018.
Mr. Hodgson is a seasoned corporate executive with considerable experience as the Chief Financial Officer of several resource companies operating in Canada and internationally. Most recently, he was the Chief Financial Officer of Sino Gas and Energy Holdings Ltd, an ASX listed energy company focused on developing Chinese unconventional gas assets.
Mr. Bailey, Chief Executive Officer of High Arctic, said: “We are very pleased that Mr. Hodgson will be joining the executive team of High Arctic. Jim’s international and operational expertise will be an invaluable asset to the Company as we continue to grow in our core markets and examine opportunities in other areas.”
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 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.