Calgary, Alberta September 1, 2016: High Arctic Energy Services Inc. (“High Arctic” or the “Corporation”) (TSX:HWO) is pleased to announce that it completed on August 31, 2016, the previously announced acquisition of all of the operating assets and business operations of Tervita Corporation’s Production Services Division for an aggregate purchase price of $42.8 million.
About High Arctic
High Arctic is a publicly traded Corporation 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 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.
For more information, please contact:
Interim President & CEO
Chief Financial Officer