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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. The Company provides 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, from its bases in Whitecourt and Red Deer, Alberta. The Company's operations involve the rental of pressure control and other oilfield equipment to exploration and production companies operating in Canada. 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 are oilfield rental equipment. Its rental services offer a lineup of oilfield rental equipment for drilling, completions, workover and abandonment oil and gas operations.


TSX:HWO - Post by User

Comment by AVALONSHARKon Mar 13, 2021 10:46pm
218 Views
Post# 32794170

RE:RE:RE:RE:RE:Results

RE:RE:RE:RE:RE:Resultshttps://ca.movies.yahoo.com/edited-transcript-hwo-earnings-conference-170000565.html

Q- Would you say that the -- that there's a suspension of travel that is the major cause currently of the continued suspension of drilling? Is it something that when that lifts again given -- if the market were to -- if LNG and natural gas in Asia were to continue its strength, would you expect there to be a significant uptick in the nearer term once that travel is permitted? Or are there other issues ?

A- Well, I think the best guide I can take for that is what were we doing in March last year. So in March last year, we were actively drilling on one well site. We were actively moving a rig to drill on another well site, and we're planning for a third location. And in the space of a very short period in March, that went to -- resulted in suspension of drilling in -- mid-well, while drilling the well we were on and the suspension of movement, too, and further activity for wells that were planned to be commenced soon. And that was driven by travel restrictions. The borders were announced that they were going to be closed. We had a very clear understanding that travel would be impossible and that then keeping those activities -- keeping drilling activities alive would not be feasible. So I think when we look back at that, there is a good expectation that we -- or strong expectation we would have that once the travel restrictions are removed, the return to planned drilling activities would also return.

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