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High Arctic Energy Services Inc T.HWO

Alternate Symbol(s):  HGHAF

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.


TSX:HWO - Post by User

Comment by longrun86on May 12, 2023 12:22pm
134 Views
Post# 35445618

RE:RE:Unlocking Value - Proceeding with Caution

RE:RE:Unlocking Value - Proceeding with CautionA while back I had posted that HWO should pursue a dual listing in Australia. The rationale is that the companies primarily involved in PNG are from Australia so HWO would attract a better following in that market from an investor perspective

Given that the final investment decision for PNG LNG is coming quickly, I don't understand the impetus to make this decision to take the PNG business private right now!

I understand distributing the excess cash, I also understand that the need to sell off the Canadian business to realize on the tax losses; however, in order to do so they also need to liquidate the remaining North American Assets. 

Up until this point they have been patient (much to some shareholders chagrin) in making capital allocation decisions so it is not clear why the rush now to liquidate the PNG business at the bottom of the cycle and trap all of the public shareholders in the private company.

I am keeping an open mind but they need to have a very clear rationale for this to make sense over the other potential options.

LR
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