High Arctic Energy Services Inc T.HWO

High Arctic Announces Renewal of Key Canadian Contract

[Betteryear2]

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CALGARY, Alberta, April 11, 2022 (GLOBE NEWSWIRE) -- High Arctic Energy Services Inc. (TSX: HWO) "High Arctic" or the "Corporation” is pleased to announce that it has agreed to terms with a key customer to renew a significant contract in Canada. The contract is for the provision of well servicing rigs and ancillary equipment managed out of the Corporation’s Cold Lake, Alberta facility. Key features of the contract renewal include an approximate 20% increase to the base hourly rig rate, increases to ancillary equipment and service pricing, provision for fuel price adjustments, and alignment of other parameters to current market conditions. Further, the contract’s term has been extended to late 2025.

High Arctic Announces Renewal of Key Canadian Contract

 

 

[Possibleidiot01]

Impressive - contract extended with favourable terms. "Key features of the contract renewal include an approximate 20% increase to the base hourly rig rate, increases to ancillary equipment and service pricing, provision for fuel price adjustments, and alignment of other parameters to current market conditions. Further, the contract’s term has been extended to late 2025. Many oil andgas

[impega]

Indeed it is impressive. It won't be long till similar good news from PNG where HWO is the dominant player in oil/gas servicing, Still not much attention on the stock so it can quietly be accumulated. Pays a divvy too!