Calgary, Canada – February 2, 2017 – Tom Alford, President and CEO of High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or the “Corporation”) is pleased to announce that pursuant to the Corporation’s press release issued on February 1, 2017, the Corporation and its customer have now executed contract extensions for Rigs 103 and 104, extending the contract terms to July 31, 2017. These extensions have been put in place to allow for continued operations while discussions continue on new long-term contract arrangements.
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, with the recent acquisition of Tervita Production Services now provides well servicing and engineered services in addition to its 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.
For more information, please contact:
Interim President & CEO
Chief Financial Officer