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High Arctic Energy Services Inc T.HWO

Alternate Symbol(s):  HGHAF

Energy Oil & Gas Equipment & Services
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

High Arctic Energy Services Inc > possible transaction?
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Comment by borne2runon Nov 15, 2023 5:56pm
115 Views
Post# 35737983

RE:RE:RE:RE:possible transaction?

RE:RE:RE:RE:possible transaction?

surprisingly they were able to convince the auditors to impair the assets...

NO auditors - statements are unaudited, as per press release.
Can't even recall the last "audited" quarterly report I came across.

Why the writedown?
so they can dispose of the PNG assets at a lower price.
Writedown amounted to at least 40% of the carried value.
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