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High Arctic Energy Services Inc. (T:HWO)

Business Focus: Oil Related Services

Sector:  Energy Industry:  Oil Related Services and Equipment
See Regulatory Filings on SEDAR
Company Contact
Address: 500, 700 - 2nd Street S.W.
Tel: N/A
IR: See website
Key People
Michael Joseph Maguire
Chief Executive Officer
Lance Mierendorf
Chief Financial Officer
Stephen P. Lambert
Vice President - Business Support, Chief Process Officer
Samue Ward
Vice President Operations - PNG
Business Overview
High Arctic Energy Services Inc. (High Arctic) is a Canada-based company, which is engaged in contract drilling, production and completion services, equipment rentals and other oilfield services to the oil and natural gas industry in Canada, and Papua New Guinea (PNG). High Arctic operates through four segments: Drilling Services, Production Services, Ancillary Services, and Corporate. The Drilling Services segment consists of the High Arctic's drilling services provided in PNG, including the provision of drilling personnel to assist its customers operations. The Production Services segment consists of the High Arctic's well servicing and snubbing services provided in Canada, the Unites States , and well servicing in PNG with its heli-portable workover rig. The Ancillary Services segment consists of High Arctic's oilfield rental equipment in Canada and PNG as well as its Canadian nitrogen services. The Corporate segment provides management and administrative services.
Financial Overview
For the fiscal year ended 31 December 2021, High Arctic Energy Services, Inc. revenues decreased 16% to C$76.4M. Net loss decreased 28% to C$18.6M. Revenues reflect Drilling Services segment decrease of 58% to C$10.7M, Production Services segment decrease of 4% to C$55.4M, Papua New-Guinea segment decrease of 48% to C$14.8M. Lower net loss reflects General and administration - other decrease of 7% to C$2.8M (expense).
Employees: 479 as of Dec 31, 2021
Reporting Currency: Canadian Dollars
Enterprise value: $80.51M as of Mar 31, 2022
Annual revenue (TTM): $76.44M as of Mar 31, 2022
EBITDA (TTM): $2.45M as of Mar 31, 2022
Net annual income (TTM): -$18.61M as of Mar 31, 2022
Free cash flow (TTM): -$18.79M as of Mar 31, 2022
Net Debt Last Fiscal Year: $4.48M as of Mar 31, 2022
Shares outstanding: 48,733,145 as of Mar 4, 2022
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization