Calgary Alberta, May 9, 2019 – High Arctic Energy Services Inc. (TSX: HWO) – “High Arctic” or the “Corporation” is pleased to announce its 2019 first quarter results.
Mr. J. Cameron Bailey, High Arctic’s CEO stated: “First quarter results continued to see the effects of Rig 116 rolling off its take or pay contract on November 2, 2018. With the recent approval of the new LNG project in PNG, we see potential for demand in drilling activity to start to pick up as early as Q4 2019. The quarter was also adversely impacted by extreme cold weather in Canada, although the company generally maintained pricing levels and market share. We are confident our focus on top-tier quality and customers is the right strategy to deliver profitability in what has been a long-term challenging market.”
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