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High Arctic Energy Services Inc T.HWO

Alternate Symbol(s):  HGHAF

High Arctic Energy Services Inc. is engaged in provision of 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 in Canada. Its segments include Rental Services and Production Services. The Production Services segment operations consist of Company’s idled snubbing units in Colorado, United States. The Rental 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. The Company offers an extensive line up of oilfield rental equipment for drilling, completions, workover and abandonment oil and gas operations.


TSX:HWO - Post by User

Comment by AVALONSHARKon Mar 12, 2021 12:16am
169 Views
Post# 32782990

RE:Results

RE:ResultsInteresting.....I found the results to be positive and 2021 indications to be encouraging. As travel restrictions within PNG ease, drilling should re-start sometime this year. Canadian operations are relatively strong given the market conditions. The company is coming out of the pandemic with an excellent balance sheet and in a position of strength as compared to its peers. In my opinion the cash balance (sitting idle) is a necessary evil to preserve shareholder value in 2020. I support this approach however a focus in 2021 should be to look at potential mergers/accquisitions to improve shareholder value. This is exactly what is stated in the Q4 report:


1. The recent rally has exposed potential opportunities in our industry sector, and prudent deployment of capital, judicious consideration of acquisitions that strengthen our service base and enhance shareholder value as well as strategic reflection on mergers that strengthen both parties will be carefully considered. Probably my wild speculation but, there is the possibility of a Total/Oil Search- HWO merger in PNG

2. Our 2021 Strategic Priorities build on the platform created in 2020 and includes- Disciplined working capital management and capital stewardship to improve returns for shareholders including dividends and common share buybacks. This is different from the 2020 strategic objective of maintaining value. As conditions keep improving, management wants to bring back dividends this year.
 
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