High Arctic Energy Services Inc. (TSX: HWO) (the
“Corporation” or “High Arctic”) has released its’ second quarter
financial and operating results. The unaudited consolidated
financial statements, management discussion & analysis
(“MD&A”), for the three and six months ended June 30, 2024 will
be available on SEDAR+ at www.sedarplus.ca, and on High Arctic’s
website at www.haes.ca. All amounts are denominated in Canadian
dollars (“CAD”), unless otherwise indicated.
Completion of
Reorganization
On June 17, 2024, the Corporation held its
Annual and Special General Meeting where the Corporation’s
shareholders approved, amongst other things, a special resolution
approving a reorganization of the Corporation by way of a plan of
arrangement (the “Arrangement”) and a return of capital of up to
$0.76 per common share of High Arctic (the “Return of Capital”).
Pursuant to the reorganization of the Corporation, the PNG business
was spun out to the current High Arctic shareholders through a new
publicly listed entity High Arctic Overseas Holdings Corp.
(“SpinCo”) that will trade on the TSX Venture Exchange under the
trading symbol HOH.
On June 27, 2024, the Corporation received a
final order approving the Arrangement from the Alberta Court of
King’s Bench, and the Return of Capital was distributed to
shareholders on July 17, 2024. On August 1, 2024, the Corporation
was able to fulfill the last major condition in the Arrangement
which was the receipt of conditional approval from the TSX Venture
Exchange to have the SpinCo shares trade on its exchange. All other
terms and conditions to the Arrangement were satisfied subsequent
to receipt of conditional approval from the TSX Venture Exchange
and the Arrangement was completed on August 12, 2024 and the
final approval from the TSX and TSX Venture exchange was received
on August 14, 2024. The shares of SpinCo are expected to commence
trading on the TSX Venture Exchange on or about August 16,
2024.
Pursuant to the Arrangement, each shareholder of
High Arctic received one-quarter of one (1/4) common share of
SpinCo and one-quarter of one (1/4) common share of
post-Arrangement High Arctic for each common share of High Arctic
held. As a result of the Arrangement, each shareholder continues to
own its pro rata portion of both SpinCo and post-Arrangement High
Arctic.
SpinCo’s now stand-alone PNG business begins
with intact senior leadership and management, a new and independent
Board of Directors, a separate stock exchange listing, a strong
capital structure, no long-term debt and positive working capital
of approximately US$19 million, including US$13 million in
cash.
Mike Maguire, Chief Executive Officer commented:
“Our businesses in both Canada and PNG have
performed well in the first half of 2024, setting up both High
Arctic and SpinCo with strong financial positions for the
commencement of trading as independently listed companies. I am
very pleased to have completed the strategic re-organization of the
Corporation and excited to be on the precipice of a new chapter in
the High Arctic story as the two entities commence separate trading
later this week.
Both High Arctic and SpinCo have no net debt and
access to cash at bank to finance budgeted activities and provide a
platform for growth for each business to realize its potential and
maximize value for their shareholders.
In Canada the performance of our rental business
in the first half of 2024 is in-line with our pre-transaction
expectations following the acquisition and integration of Delta
Rental Services. Having a cash positive business, when adjusted for
re-organization costs, positions High Arctic as an attractive
vehicle for future growth and transactions.
In PNG Rig 103 completed services and was
stacked at the forward base in the Southern Highlands, as expected.
We anticipate a period of modest activity, through our rentals and
manpower provision, as we await significant strategic decisions on
major project advancement now expected in 2025.”
Additional Information Pertaining to the
ReorganizationThe Corporation has received final approval
today to list the post-Arrangement common shares of High Arctic
(the “New High Arctic Common Shares”) on the Toronto Stock Exchange
(“TSX”). The existing common shares are expected to be delisted
from the TSX as of the close of business on August 15, 2024. The
New High Arctic Common Shares are expected to commence trading on
the TSX at the market opening on August 16, 2024 and the CUSIP
number for the New High Arctic Shares will be "42964L109".
Pursuant to the completion of the Reorganization
the Corporation has today terminated its normal course issuer bid
arrangement which has been in place since December 13, 2023.
With the completion of the reorganization and in
accordance with the Arrangement, the Corporation is obliged for
Canadian taxation compliance purposes to determine the fair market
value of the SpinCo shares. The Corporation and SpinCo have begun
the valuation process to determine the fair market value for SpinCo
and expects to provide the fair market value of the SpinCo shares
to shareholders prior to November 2024.
Second Quarter Results
In the following discussion, the three months
ended June 30, 2024 may be referred to as the “quarter” or “Q2
2024” and the comparative three months ended June 30, 2023 may be
referred to as “Q2 2023”. References to other quarters may be
presented as “QX 20XX” with X/XX being the quarter/year to which
the commentary relates. Additionally, the six-months ended June 30,
2024 may be referred to as “YTD” or “YTD-2024”. References to other
six-month periods ended June 30 may be presented as “YTD-20XX” with
XX being the year to which the six-month period ended June 30
commentary relates.
2024 SECOND QUARTER
HIGHLIGHTS
- Transformational developments from
shareholder approvals on June 17, 2024:
- $37.8 million return of capital to
shareholders completed on July 17, 2024 funded through sale
proceeds on 2022 disposal of Canadian well servicing assets,
and
- Reorganization of capital structure
to provide shareholders separate holdings in two publicly-traded
entities, with dedicated leadership, governance structure and solid
financial positioning.
- The continuing Canadian business
and listing on the TSX (ticker HWO), and
- The spinoff of the PNG business and
new listing on the TSX Venture Exchange (ticker HOH).
- Continued integration of the Delta
Acquisition with the legacy High Arctic rental business that now
operates under the Delta Rental Services banner with deployment of
additional underutilized assets into our expanded geographical
coverage in Alberta.
- Increased revenue from continuing
operations by $1,869 or 281% in the quarter when compared to
revenue of $664 from Q2 2023 as a result of the impact of the Delta
Acquisition on the 2024 results.
- Achieved positive Adjusted EBITDA
from continuing operations of $187 in the quarter versus negative
Adjusted EBITDA for Q2 2023 of ($934).
- Narrowed the operating loss from
continuing operations from $1,400 in Q2 2023 to $1,363 in Q2 2024
as a result of the contribution from the Delta Acquisition which
was mostly offset by $763 of additional G&A expenses incurred
relating to the corporate reorganization.
2024 YEAR TO DATE HIGHLIGHTS
- Similar to the discrete quarter
results, High Arctic’s revenue from continuing operations increased
314% to $5,521 compared to revenue of $1,332 achieved in the first
six months of 2023 as a result of the Delta Acquisition on 2024
results.
- Achieved strong oilfield services
operating margins from continuing operations of 49.4% for the first
half of 2024.
- Narrowed the use of funds flow from
operations from continuing operating activities as the YTD-2024 saw
a use of $96 compared to a use of $747 for the first six months of
2023 driven by strong operational performance from the Delta
Acquisition offset by the significant additional G&A expenses
incurred in 2024 due to the corporate reorganization
initiatives.
- Working capital at the end of the
quarter totaled $4,368, including cash of $3.3 million (after
giving affect to the Return of Capital distribution). This
positioning stands to support organic growth and be an initial
basis for acquisition growth through selective and opportunistic
investments.
Q1 2024 Investor Conference CallA High Arctic
investor conference call is schedule to begin at 3:00 pm MT (5:00
pm ET) on Thursday, August 15, 2024. The conference call dial-in
numbers are 1-800-898-3989 or 416-340-2217 and the participant
passcode is 7163931#.
An archived recording of the conference call
will be available approximately two hours after the call ends by
dialing 1-800-408-3053 and entering passcode 8446938# will remain
available until September 15, 2024. An audio recording of the
conference call will also be available within 24 hours on High
Arctic’s website.
RESULTS OVERVIEW
The following is a summary of select financial
information of the Corporation:
|
|
Three months ended June 30 |
Six months ended June 30 |
|
(thousands of Canadian Dollars, except per share amounts) |
2024 |
|
2023 |
|
2024 |
|
2023 |
|
| Operating results from
continuing operations: |
|
|
|
|
| Revenue – continuing
operations |
2,533 |
|
664 |
|
5,521 |
|
1,332 |
|
| Net loss - continuing
operations |
(1,709 |
) |
(1,546 |
) |
(1,527 |
) |
(1,706 |
) |
|
Per share (basic & diluted)(1) |
(0.04 |
) |
(0.03 |
) |
(0.03 |
) |
(0.03 |
) |
| Oilfield services operating
margin - continuing operations(2) |
1,204 |
|
309 |
|
2,729 |
|
760 |
|
|
Oilfield services operating margin as a % of revenue(2) |
47.5 |
% |
46.5 |
% |
49.4 |
% |
57.1 |
% |
| EBITDA - continuing
operations(2) |
(1,465 |
) |
(1,613 |
) |
(1,233 |
) |
(1,755 |
) |
| Adjusted EBITDA - continuing
operations(2) |
187 |
|
(934 |
) |
280 |
|
(1,331 |
) |
|
Operating loss - continuing operations(2) |
(1,363 |
) |
(1,400 |
) |
(2,433 |
) |
(2,438 |
) |
| Cash flow from continuing
operations: |
|
|
|
|
| Cash flow from continuing
operating activities |
(761 |
) |
626 |
|
(490 |
) |
33 |
|
|
Per share (basic & diluted)(1) |
(0.02 |
) |
0.01 |
|
(0.01 |
) |
0.00 |
|
| Funds flow from (used in)
continuing operating activities(2) |
(293 |
) |
(659 |
) |
(96 |
) |
(747 |
) |
|
Per share (basic & diluted)(1) |
(0.01 |
) |
(0.01 |
) |
(0.00 |
) |
(0.02 |
) |
| Return of Capital,
declared(4) |
37,842 |
|
730 |
|
37,842 |
|
1,460 |
|
|
Per share (basic) |
0.77 |
|
0.015 |
|
0.77 |
|
0.030 |
|
|
Per share (diluted) |
0.751 |
|
0.014 |
|
0.750 |
|
0.028 |
|
|
Capital expenditures |
507 |
|
317 |
|
815 |
|
425 |
|
|
|
|
As at |
|
(thousands of Canadian Dollars, except per share amounts and common
shares outstanding) |
|
|
June 30, 2024 |
Dec 31,2023 |
| Financial
position: |
|
|
|
|
| Working capital(2) |
|
|
4,368 |
|
62,985 |
|
| Cash and cash equivalents(3) |
|
|
41,087 |
|
50,331 |
|
| Total assets |
|
|
120,993 |
|
123,137 |
|
| Long-term debt (non-current) |
|
|
3,265 |
|
3,352 |
|
| |
|
|
|
|
| Shareholders’ equity |
|
|
64,160 |
|
99,332 |
|
|
Per share (basic)(1) |
|
|
1.31 |
|
2.04 |
|
|
Per share (fully diluted)(1) |
|
|
1.27 |
|
1.94 |
|
|
Common shares outstanding |
|
|
49,792,700 |
|
49,122,302 |
|
(1) The number of common shares used
in calculating net loss per share, cash flow from (used in)
operating activities, funds flow from operating activities per
share, dividend payments per share, and shareholders’ equity per
share is determined as explained in Note 13 of the Financial
Statements (continuing operations). (2) Readers are
cautioned that Oilfield services operating margin, EBITDA (Earnings
before interest, tax, depreciation, and amortization), Adjusted
EBITDA, Operating loss, Funds flow from operating activities and
Working capital do not have standardized meanings prescribed by
IFRS – see the “Non IFRS Measures” section in this MD&A for
calculations of these measures.(3) Cash and cash
equivalents includes $37,842 distributed to High Arctic
shareholders on July 17, 2024 as a return of capital
distribution.(4) 2023 figures are cash dividends
declared.
|
Operating Results
Ancillary services segment |
|
|
Three months ended June 30 |
Six months ended June 30 |
|
(thousands of Canadian Dollars, unless otherwise noted) |
2024 |
|
2023 |
|
2024 |
|
2023 |
|
| Revenue |
2,533 |
|
664 |
|
5,521 |
|
1,332 |
|
|
Oilfield services expense |
(1,329 |
) |
(355 |
) |
(2,792 |
) |
(572 |
) |
|
Oilfield services operating margin(1) |
1,204 |
|
309 |
|
2,729 |
|
760 |
|
|
Operating margin (%) |
47.5 |
% |
46.5 |
% |
49.5 |
% |
57.1 |
% |
(1) See “Non-IFRS Measures”
The Ancillary Services segment consists of High
Arctic’s oilfield rental equipment in Canada centered upon pressure
control equipment and equipment supporting the high-pressure
stimulation of oil and gas wells in the WCSB.
Production services segmentThe Production
Services segment operations consist of High Arctic’s idled snubbing
units in Colorado, U.S., and its equity investments in the Seh’
Chene Partnership and Team Snubbing Services Inc. in Canada. Though
the Seh’ Chene Partnership has experienced limited business
activity since the 2022 Canadian sales transactions, the
partnership is still active and the Corporation together with its
partner look to re-position its customer offerings and explore
other avenues for business activity.
Liquidity and capital resources
|
|
Three months ended June 30 |
Six months ended June 30 |
|
(thousands of Canadian Dollars) |
2024 |
|
2023 |
|
2024 |
|
2023 |
|
| Cash provided by (used in)
continued operations: |
|
|
|
|
|
Operating activities |
(761 |
) |
626 |
|
(490 |
) |
33 |
|
|
Investing activities |
(507 |
) |
(317 |
) |
(815 |
) |
27,676 |
|
|
Financing activities |
(127 |
) |
(812 |
) |
(258 |
) |
(1,676 |
) |
| Effect
of exchange rate changes on cash |
415 |
|
(5 |
) |
1,080 |
|
4 |
|
|
Increase (decrease) in cash from continuing operations |
(980 |
) |
(508 |
) |
(483 |
) |
26,037 |
|
|
(thousands of Canadian Dollars, unless otherwise noted) |
|
|
As at June 30, 2024 (2) |
As at Dec 31, 2023 |
|
Current assets (excluding assets held for distribution) |
|
|
45,785 |
79,438 |
| Working capital(1) |
|
|
4,368 |
62,985 |
| Working capital ratio(1) |
|
|
1.1:1 |
4.8:1 |
| Cash and cash equivalents |
|
|
41,087 |
50,331 |
|
Net cash(1) |
|
|
37,647 |
46,804 |
(1) See “Non-IFRS
Measures”(2) Continuing operations
Operating ActivitiesIn Q2 2024, cash used in
operating activities from continuing operations was ($761), as
compared with $626 of cash generated from operating activities from
continuing operations in Q2 2023. Funds used in operating
activities from continuing operations totaled ($293) in the
quarter, versus ($659) for Q2 2023 (see “Non-IFRS Measures”). In Q2
2024, changes in non-cash operating working capital from continuing
operations totaled ($468) versus $1,285 in Q2 2023.
For the six months ended June 30, 2024, cash
used in operating activities from continuing operations was ($490),
as compared with $33 of cash generated from operating activities
from continuing operations in Q2 2023. Funds used in operating
activities from continuing operations totaled ($96) for the six
months ended June 30, 2024, versus ($747) for the same period in
2023. Over the six months ended June 30, 2024, changes in non-cash
operating working capital from continuing operations totaled ($394)
versus $780 for the comparable period in 2023.
The comparative period decrease in cash from
operating activities from continuing operations for both the three
and six months ended June 30, 2023 and 2024 was largely the result
of higher G&A costs, substantially related to the Corporation’s
reorganization initiative more than offsetting increased rental
business margins.
Investing ActivitiesDuring the quarter, the
Corporation’s cash spent on investing activities from continuing
operations totaled $507, compared to $317 for the same period the
year prior. In addition to sustaining and growth capital spending
related to its rental business, the Corporation’s Q2 2024 investing
activity also included spending on new information systems and
information technology infrastructure necessary to support two
separate entities after the completion of the Arrangement. Year to
date spending through June 30, 2024 totaled $815 on these same
projects. During the first six months of 2023, the Corporation
received $27,676 net, primarily as a result of the receipt of the
final cash proceeds of $28,000 from the 2022 sale of the
Corporation’s Canadian well servicing assets.
Financing ActivitiesDuring the quarter, the
Corporation’s cash used in financing activities was $127,
significantly lower when compared to Q2 2023 at $812. During Q2
2024, the Corporation paid $42 (Q2 2023: $43) towards principal
payments on its mortgage financing (see “Mortgage Financing” below)
and $85 against lease liability payments (Q2 2023: $39). The
largest contributor to the decline in cash used in financing
activities in the quarter was due to the $730 returned to
shareholders in the form of cash dividends in Q2 2023 compared to
nil in Q2 2024. In Q2 2024, the Corporation declared the reduction
of stated capital and the Return of Capital which was paid
subsequent to quarter end.
For the six months ended 2024, the Corporation’s
cash used in financing activities was $258, compared to $1,676 for
the same period in 2023. During the first half of 2024, the
Corporation paid $87 (2023: $99) towards principal payments on its
mortgage financing, and $171 (2023: $92) against lease liability
payments. The comparative period decrease in cash used in financing
activities year to date through June 30, 2023 was largely due to
the $1,460 cash dividend payments made during the first half of
2023 and the $25 spent to purchase the Corporation’s common shares
for cancellation.
Mortgage financing
|
(thousands of Canadian Dollars) |
|
|
As at June 30, 2024 |
As at Dec 31, 2023 |
|
Current |
|
|
175 |
175 |
|
Non-current |
|
|
3,265 |
3,352 |
|
Total |
|
|
3,440 |
3,527 |
The Corporation has mortgage financing secured
by lands and buildings owned by High Arctic located within Alberta,
Canada. The mortgage has a remaining initial term of under three
years with a fixed interest rate of 4.30% with payments occurring
monthly. The Corporation’s mortgage financing contains certain
non-financial covenants requiring lenders’ consent including
changes to the underlying business. At June 30, 2024, the
Corporation was compliant with all covenants associated with the
mortgage financing.
Outlook
For some time, the Corporation has both pursued
or entertained potential business combination transactions. The
distinctly different profiles of the North American and PNG
businesses have proven to be the main impediment to unearthing
transactions acceptable to all parties and in the best interests of
High Arctic Shareholders. Finding unique companies desirous of
being linked to both distinct businesses has proven futile.
Companies to whom association with our North American Business may
be attractive are a distinctly broader group and do not overlap
with the international companies with whom the PNG business and its
risk profile may fit well.
An example of this type of business combination
was achieved in the Canadian market amidst reorganization
deliberations with the Delta Acquisition in December of 2023. Its
integration with our legacy rentals business in Canada has enabled
the Corporation to increase scale at the operating margin level
through the first half of 2024. Delta has performed in line with
our pre-transaction expectations during this first half year and we
expect a strong performance through the balance of 2024 as we
continue to market and deploy our underutilized assets into our
expanded geographical coverage.
Over the past two years, the Corporation has
divested underperforming and non-core assets and business. Now the
Corporation’s Canadian business consists of a high-margin
equipment rental business centered upon pressure control and well
stimulation, a minority interest in Canada’s largest oilfield
snubbing services business, Team Snubbing Services Inc., (“Team
Snubbing”) and industrial properties at Clairmont and Whitecourt in
Alberta, Canada. With the recent completion of the Arrangement,
High Arctic is now poised to execute on an exciting new chapter in
its corporate history and looks to grow the Canadian business
through selective and opportunistic investments as well as consider
accretive acquisitions in Canada.
As Team Snubbing moves into the second half of
2024, we are looking forward to developments from the changes made
in Q2 2024 after their acquisition of control of Team Snubbing
International Inc. (“Team International”) that took place on April
1, 2024. The changes made in the quarter include the restructuring
of the management and operational teams and the deployment of
additional purpose-built assets to meet market needs of their
customers and the environment they operate in. The navigation
through this initiative in such a short period has proven the
capability and depths of the Team Snubbing management team and the
‘Team Culture’. Team Snubbing and High Arctic are very proud of
what has been accomplished in a short time frame and are excited to
build on the larger geographical foundation that has been
established.
Post the Arrangement, coupling the outlook for
Team Snubbing and our integrated rentals business along with the
industry macro developments around pipeline projects that will
finally access tidewater markets and expand oil and gas takeaway
for Canada in 2024, the Corporation anticipates strong demand for
its equipment. Our Canadian business will be well positioned to
deliver upon a growth strategy that creates value for our
shareholders.
Post the Arrangement, the PNG business, High
Arctic Overseas Holding Corp., begins with intact senior leadership
and management, a new and independent Board of Directors, its own
public listing on the TSX Venture exchange, a strong capital
structure, no long-term debt and positive working capital of
approximately US$19 million, including US$13 million in cash.
Having successfully completed its current drilling program in PNG
during the second quarter, drilling operations will be idle and are
expected to remain idle to close out 2024. Ancillary services for
rental equipment and manpower solutions remain active and are
expected to provide meaningful cash flow to partially cover
regional fixed infrastructure and personnel support costs. Near
term priorities include sustainment of safety culture and people
expertise, a deep and productive national workforce, and
positioning for significant business development around world-class
LNG projects.
NON-IFRS MEASURES
This press release contains references to
certain financial measures that do not have a standardized meaning
prescribed by International Financial Reporting Standards (“IFRS”)
and may not be comparable to the same or similar measures used by
other companies. High Arctic uses these financial measures to
assess performance and believes these measures provide useful
supplemental information to shareholders and investors. These
financial measures are computed on a consistent basis for each
reporting period and include Oilfield services operating margin,
EBITDA (Earnings before interest, tax, depreciation and
amortization), Adjusted EBITDA, Operating loss, Funds flow from
operating activities, Working capital and Net cash. These do not
have standardized meanings.
These financial measures should not be
considered as an alternative to, or more meaningful than, net
income (loss), cash from operating activities, current assets or
current liabilities, cash and/or other measures of financial
performance as determined in accordance with IFRS.
For additional information regarding non-IFRS
measures, including their use to management and investors and
reconciliations to measures recognized by IFRS, please refer to the
Corporation’s MD&A, which is available online at
www.sedarplus.ca and through High Arctic’s website at www.haes.ca.
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, estimated or expected. Specific
forward-looking statements in this press release include, among
others, statements pertaining to: listing of the SpinCo common
shares and new High Arctic common shares following the
reorganization; right sizing of the general and administrative
infrastructure to align with the new corporate structure; the
performance of the Corporation’s investment in Team Snubbing, and
whether Team Snubbing can realize high utilization in its Canadian
operations and for its snubbing packages in Alaska in 2024; strong
demand for the Corporation’s Canadian rental equipment in 2024,
scaling the Canadian business, executing on one or more corporate
transactions; estimated credit risks and the utilization of tax
losses; and timing of the provision to shareholders of the fair
market value of the SpinCo shares.
With respect to forward-looking statements
contained in this press release, the Corporation has made
assumptions regarding, among other things, general economic and
business conditions which will include, among other things, the
outlook for energy services; continued impact of Russia-Ukraine
conflict; the impact of conflict in the middle east; market
fluctuations in interest rates, commodity prices, and foreign
currency exchange rates; expectations regarding the Corporation’s
ability to manage its liquidity risk, raise capital and manage its
debt finance agreements; projections of market prices and costs;
factors upon which the Corporation will decide whether or not to
undertake a specific course of operational action or expansion; the
Corporation’s ability to: maintain its ongoing relationship with
major customers; successfully market its services to current and
new customers; devise methods for, and achieve its primary
objectives; source and obtain equipment from suppliers;
successfully manage, operate, and thrive in an environment which is
facing much uncertainty; remain competitive in all its operations;
attract and retain skilled employees; and obtain equity and debt
financing on satisfactory terms.
The Corporation’s actual results could differ
materially from those anticipated in these forward-looking
statements as a result of the risk factors set forth above and
elsewhere in this press release, along with the risk factors set
out in the most recent Annual Information Form filed on SEDAR+ at
www.sedarplus.ca.
The forward-looking statements contained in this
press release are expressly qualified in their entirety by this
cautionary statement. These statements are given only as of the
date of this press release. The Corporation does not assume any
obligation to update these forward-looking statements to reflect
new information, subsequent events or otherwise, except as required
by law.
About High Arctic Energy
ServicesHigh Arctic is an energy services provider. High
Arctic provides pressure control equipment and equipment supporting
the high-pressure stimulation of oil and gas wells and other
oilfield equipment on a rental basis to exploration and production
companies, from its bases in Whitecourt and Red Deer, Alberta.
For further information, please contact:
Lonn BateChief Financial
Officer P:
587-318-2218P: +1 (800) 688
7143 High
Arctic Energy Services Inc.Suite 2350, 330 – 5th Ave SWCalgary,
Alberta, Canada T2P 0L4website: www.haes.caEmail: info@haes.ca
High Arctic Energy Servi... (TSX:HWO)
과거 데이터 주식 차트
부터 10월(10) 2024 으로 11월(11) 2024
High Arctic Energy Servi... (TSX:HWO)
과거 데이터 주식 차트
부터 11월(11) 2023 으로 11월(11) 2024
