CALGARY, Canada – August 24, 2021 – High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or the “Corporation”) is pleased to report exceptional operational safety performance ahead of mobilizing Rig 115 to commence work on a remote exploration well abandonment.
High Arctic’s Papua New Guinea (“PNG”) operations has reached the world-class milestone of five years Total Recordable Incident Free, after marking 2.5 million work hours without a significant injury earlier this August. Not one person has required medical treatment or missed any work time because of a workplace incident while working at High Arctic in PNG during the past 5 years.
Mike Maguire, CEO stated: “This sustained performance excellence in a place as geographically challenging as Papua New Guinea is a credit to the Corporation’s highly trained and skilled workforce from local PNG communities and around the world. It is also reflective of the shared values and stable long-term relationships we have built with our top-tier customer base.
I am very pleased we continue to expand our employee count in PNG as we undertake the necessary work to ensure a safe and successful restart of Rig 115, build on our safe work legacy and continue the development and advancement of our local workforce.
Building upon recent momentum, we are also pleased that the PNG Government’s State Negotiating Team and PNG-LNG operator ExxonMobil jointly announced that they have restarted negotiations over the development of the P’nyang natural gas resource. Negotiations, reportedly, aim at signing a P’nyang Heads of Agreement as early as the end of September, with a definitive gas agreement thereafter.”
About High Arctic
High Arctic’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 western Canadian operation provides well servicing, well abandonment, snubbing and nitrogen services and equipment on a rental basis to a large number of exploration and production companies.
For further information, please contact:
Chief Executive Officer
High Arctic Energy Services Inc.
Suite 500, 700 – 2nd Street S.W.
Calgary, Alberta, Canada T2P 2W1