Sector: Energy | Industry: Oil Related Services and Equipment |
Company Contact | |
Address: | Calgary Place I Suite 2350, 330 - 5th Ave SW CALGARY AB T2P 0L4 |
Tel: | N/A |
Website: | https://haes.ca |
IR: | See website |
Key People | ||
Michael Joseph Maguire Chief Executive Officer | Lonn P. Bate Interim Chief Financial Officer | Stephen P. Lambert Chief Operating Officer |
Business Overview |
High Arctic Energy Services Inc. is a Canada-based energy services provider. It provides drilling and specializes well completion services and supplies rental equipment, including rig matting, camps, material handling, and drilling support equipment. In western Canada, it provides pressure control equipment on a rental basis to a number of exploration and production companies. Its North American service lines include nitrogen and oilfield rental equipment. Its fleet of pumper units operate onsite to deliver nitrogen to the oil and gas industry when and where required. Its International Operations service lines include drilling rigs, workover rigs, worksite matting and rental equipment. Its fleet of specialized rental equipment includes camps, cranes, trucks, forklifts, pumps, gensets and lighting towers. It is also focused on offering pressure control equipment and equipment supporting the high-pressure stimulation of oil and gas wells, along with other well site rental equipment. |
Financial Overview |
For the fiscal year ended 31 December 2023, High Arctic Energy Services, Inc. revenues decreased 23% to C$61.9M. Net loss before extraordinary items decreased 65% to C$12.8M. Revenues reflect Production Services segment decrease from C$36.1M to C$0K, Canada segment decrease of 92% to C$3.4M. Lower net loss reflects Labor & Related Expenses in SGA decrease of 30% to C$5.2M (expense). |
Employees: | 202 as of Dec 31, 2023 |
Reporting Currency: | Canadian Dollars |
Enterprise value: | $17.16M as of Dec 31, 2023 |
Annual revenue (TTM): | $61.93M as of Dec 31, 2023 |
EBITDA (TTM): | $11.30M as of Dec 31, 2023 |
Net annual income (TTM): | -$12.83M as of Dec 31, 2023 |
Free cash flow (TTM): | $7.07M as of Dec 31, 2023 |
Net Debt Last Fiscal Year: | N/A |
Shares outstanding: | 49,122,302 as of Dec 31, 2023 |
TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization |