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High Arctic Declares Monthly Dividend

Calgary, Canada – September 20, 2017 – 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 $0.0165 per share to holders of common shares. The dividend is payable on October 13, 2017 to holders of High Arctic common shares of record at the close of business on September 29, 2017.  The ex-dividend date is September 27, 2017.  The dividend is designated as an “eligible dividend” for Canadian Income Tax purposes.

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 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:

Michael Binnion
Interim President & CEO
Phone: 403-807-7375
Email: michael.binnion@haes.ca

Brian Peters
Chief Financial Officer
Phone: 587-318-2218
Email: brian.peters@haes.ca

High Arctic Declares Monthly Dividend

Calgary, Canada – September 20, 2017 – 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 $0.0165 per share to holders of common shares. The dividend is payable on October 13, 2017 to holders of High Arctic common shares of record at the close of business on September 29, 2017.  The ex-dividend date is September 27, 2017.  The dividend is designated as an “eligible dividend” for Canadian Income Tax purposes.  

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 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:

Michael Binnion
Interim President & CEO
Phone: 403-807-7375
Email: michael.binnion@haes.ca

Brian Peters
Chief Financial Officer
Phone: 587-318-2218
Email: brian.peters@haes.ca

High Arctic Announces Signing of Fast Moving Rig Contract for Papua New Guinea

Calgary, Canada – August 31, 2017 – High Arctic Energy Services Inc. (“High Arctic” or the “Company”) is pleased to announce the signing of a contract for the provision and operation of a highly mobile land rig for use in Papua New Guinea (“PNG”).

The formalization of the contract follows High Arctic’s conclusion of a leasing agreement with the rig owner based in Australia. The rig is currently located in Perth Australia and High Arctic is working with both its customer and the rig owner to conduct acceptance testing in the coming weeks in preparation for the export of the rig to Port Moresby in September 2017.

The contract rates are effective from the clearance of the rig in to PNG for an initial term of six months, with provision for extensions for a total term of up to eighteen months. After a short period transporting the rig to the first well site, drilling operations are expected to commence early in the fourth quarter of 2017.

The project is to prove the efficacy of a small footprint rig for field optimisation work in areas with or close to existing roads, and the Company is optimistic that success could lead to unlocking further opportunity for our customers to explore and develop in this current tight market cycle.  It is intended that the contract would roll in to the recently announced 50/50 joint company.

Mike Maguire, President International commented “We are pleased to be able to work collaboratively with our customer to find new and innovative ways to sustainably drive exploration and development activity in cost sensitive projects. The joint work undertaken over many months to select and refine the fast moving rig package builds on our strong working relationship and […]

High Arctic Declares Monthly Dividend

Calgary, Canada – August 22, 2017 – 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 $0.0165 per share to holders of common shares. The dividend is payable on September 14, 2017 to holders of High Arctic common shares of record at the close of business on August 31, 2017.  The ex-dividend date is August 29, 2017.  The dividend is designated as an “eligible dividend” for Canadian Income Tax purposes.

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 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:

Michael Binnion
Interim President & CEO
Phone: 403-807-7375
Email: michael.binnion@haes.ca

Brian Peters
Chief Financial Officer
Phone: 587-318-2218
Email: brian.peters@haes.ca

High Arctic Reports 2017 Second Quarter Results

High Arctic Reports 2017 Second Quarter Results

High Arctic Closes Contract Extension

Calgary, Canada – August 2, 2017 – High Arctic Energy Services Inc. (“High Arctic” or the “Company”) announces the one year extension of its current contracts for the operation of rigs 103 and 104 effective 1 August 2017.

Commensurate with the contract extensions High Arctic received notice to mobilize rig 103 to drill the P’nyang South 2 appraisal well with work commencing immediately under full contract operating rates and targeting commencement of drilling in the fourth quarter of 2017.

Working with our customer on cost efficiencies and rig improvements, the contract rates have been discounted 22% in line with previous guidance. The majority of the discount being offset by lower operating costs from efficiencies and significant discounts in the lease rate for the assets.

Mike Maguire, President International commented “The work undertaken to prepare rig 103 will enable us to provide real savings to our customer in drilling and logistic costs, as well as improve operational reliability and efficiency. This extension provides the foundation for work currently underway on formal agreements for the recently announced 50/50 joint company.”

Forward-Looking Statements

This Press Release contains forward-looking statements. When used in this document, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “seek”, “propose”, “estimate”, “expect”, and similar expressions are intended to identify forward-looking statements.  Such statements reflect the Corporation’s current views with respect to future events and are subject to certain risks, uncertainties and assumptions.  Many factors could cause the Corporation’s actual results, performance or achievements to vary from those described in this Press Release.  Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in this Press Release as intended, planned, anticipated, believed, […]

High Arctic Announces Executive Resignation and Appointment of New Director

Calgary, Canada – July 20, 2017 – High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or the “Company”) announces that Mr. Thomas Alford has tendered his resignation, effective today, as High Arctic’s Interim President and CEO. In conjunction with his resignation Mr. Alford has also stepped down from High Arctic’s Board of Directors (“Board”).  Mr. Michael Binnion, Chairman of the Board, will temporarily assume his duties.  A special committee of the Board is leading the search for a permanent President and CEO and reviewing the Company’s growth opportunities.

The Board would like to thank Mr. Alford for his interim leadership during the integration of Tervita’s Production Services division into High Arctic’s Canadian operations and wish him all the best in his future endeavors.

High Arctic is also pleased to announce the appointment of Mr. Jim Hodgson to the Board and the Audit Committee. Mr. Hodgson is the Managing Director of Link NRG.  Prior to his current role, Mr. Hodgson was the Chief Financial Officer of Sino Gas & Energy Holdings Ltd. Previously, he was Chief Financial Officer and director of Stream Oil & Gas Ltd and Chief Executive Officer of United Oil Projects Company, Kuwait.  He received a Bachelor of Science (Chemistry) and an MBA (Finance/Marketing) from the University of Toronto and a Master of Science (Finance) from Leicester University in the UK.

Mr. Binnion, Chairman, stated “We are very pleased with the addition of Mr. Hodgson to the Board. He is an experienced financial executive, business leader and corporate director, with experience in the oil and gas industry both in Canada and Internationally.”

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 […]

High Arctic Declares Monthly Dividend

Calgary, Canada – July 20, 2017 – 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 $0.0165 per share to holders of common shares. The dividend is payable on August 14, 2017 to holders of High Arctic common shares of record at the close of business on July 31, 2017.  The ex-dividend date is July 27, 2017.  The dividend is designated as an “eligible dividend” for Canadian Income Tax purposes.

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 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:

Thomas Alford
Interim President & CEO
Phone: 587-318-3826
Email: tom.alford@haes.ca

Brian Peters
Chief Financial Officer
Phone: 587-318-2218
Email: brian.peters@haes.ca