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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 Jul 18, 2022 11:16am
350 Views
Post# 34831355

RE:RE:Precision drilling buys HWO Well Servicing

RE:RE:Precision drilling buys HWO Well Servicing 1. Labour shortage, high cost inflation are major problems that the services sector is facing. Companies are not really increasing production with oil at $100 because of volatile markets. 

2. HWO is not only a market leader in PNG, they are the only game in town. Ready to ride the wave of drilling, services over the next decade.

3. In terms of corporate valuation, HWO with half of its operations in Canada and other half in PNG wasnt a good fit for a potential accquisition for anyone.

Now, HWO looks super attractive for an accquisition by Santos, Total or Exxon who want minimal exposure to Canada and can be pitched as a PNG specialist company. Also, this is a very good time to exit Canada. HWO management has always been conservative, and capable and I think this is a wonderful move to maximize value for shareholders. Even if they distribute $10 mil in dividends in Jan 23, they will still have more than $35 mil in the bank account which they will invariably use to make an accquisition in the oceania region or buy more rigs to meet demand in PNG.


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