Last C$5.24 CAD
Change Today -0.12 / -2.24%
Volume 64.0K
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As of 3:59 PM 07/11/14 All times are local (Market data is delayed by at least 15 minutes).

high arctic energy services (HWO) Snapshot

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05/14/14 - C$5.95
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high arctic energy services (HWO) Details

High Arctic Energy Services Inc. provides contract drilling, completion services, and other oilfield services to the oil and gas industry in Canada and Papua New Guinea. It also supplies liquid nitrogen pumping services; offers snubbing services, including foothills stand alone snubbing systems, stand alone snubbing systems, and rig assist snubbing units, as well as nitrogen transport and pumping services. The company provides equipment, personnel, and support services to drill, complete, and workover onshore and offshore wells; and operates two heli-portable drilling rigs in PNG under drilling services contracts. In addition, it is involved in drilling support equipment rental, including rig matting, cranes, forklifts, trucks, camps, river pumps, lighting towers, blowout preventers and boilers, valves, hot tapping equipment, drilling manifolds, accumulator units, flanges, adapters, spools, and overhead handling equipment. High Arctic Energy Services Inc. was founded in 1993 and is headquartered in Red Deer, Canada.

Founded in 1993

high arctic energy services (HWO) Top Compensated Officers

Chief Financial Officer
Total Annual Compensation: C$194.1K
Chief Operating Officer
Total Annual Compensation: C$250.0K
President of International Operations
Total Annual Compensation: C$309.0K
Total Annual Compensation: C$307.5K
Compensation as of Fiscal Year 2013.

high arctic energy services (HWO) Key Developments

High Arctic Energy Services Inc. Declares Monthly Dividend, Payable on July 14, 2014

High Arctic Energy Services Inc. announced that its board of Directors has approved a monthly dividend payment of $0.015 per share to holders of common shares. The dividend is payable on July 14, 2014, to holders of High Arctic common shares of record at the close of business on June 30, 2014. The ex-dividend date is June 26, 2014. The dividend is designated as an 'eligible dividend' for Canadian Income Tax purposes.

High Arctic Energy Services Inc. Announces Management Changes

High Arctic Energy Services Inc. announced the planned addition of two new executives. Mr. Tim Braun has agreed to join High Arctic as Chief Executive Officer effective on July 2, 2014. Most recently, he spent eight years as a senior executive with an international drilling contractor, Saxon Energy Services, in several capacities including Chief Operating Officer. Tim will be based in the Calgary office. Mr. Darren Greer has also agreed to join High Arctic with an expected start date in September. Darren will take over the role of President, International and will have overall responsibility for the business in Papua New Guinea and for developing additional regional business opportunities. Darren will be based in the newly established Brisbane office. For the past four years, he has been an executive with Easternwell, most recently as Chief Operating Officer. With the appointment of Mr. Braun, Dennis Sykora will step down from the role of Interim Chief Executive Officer. He will continue as a member of the Board of Directors and will provide support as a member of its Executive Committee. With the appointment of Darren, Kevin Doran, the current President, International, is expected to transition into retirement. Mike Maguire, Vice President International Operations, joined High Arctic in December 2013 and has already assumed responsibility for the operations in Papua New Guinea as part of the ongoing succession planning for High Arctic.

High Arctic Energy Services Inc Announces Earnings Results for the First Quarter Ended March 31, 2014

High Arctic Energy Services Inc. has reported that net earnings for the first quarter ended March 31, 2014 were CAD 9.3 million, or CAD 0.18 per diluted share, compared to CAD 8.4 million, or CAD 0.17 per diluted share, for the same quarter ended March 31, 2013. Revenue for the first quarter ended March 31, 2014 was CAD 44.5 million, compared to CAD 44.8 million for the same quarter ended March 31, 2013. Operating earnings for the first quarter ended March 31, 2014 were CAD 11.8 million, compared to CAD 9.8 million for the same quarter ended March 31, 2013.


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