Firm delivering ‘quality services’

HIGH Arctic Energy Services Inc is committed to delivering quality services with industry leading safety standards at fair prices, chief executive officer Cameron Bailey says.
Bailey made the remarks when announcing the company’s second quarter results last week.
“I am very proud of our team and want to acknowledge their outstanding performance of operating without a single recordable injury year to date,” he said.
“Our financial results have lagged primarily due to the end of the contract for Rig 116 in PNG, slower activity in Canada and the longer than expected time to ramp-up activities in the US.
“Well servicing in Canada achieved some modest gains during the quarter, notwithstanding a prolonged spring breakup.”
Bailey said the acquisition of precision drilling snubbing assets had allowed the company to consolidate 60 per cent of the pressure services market in Canada.
“In PNG, we continue to maintain the quality and readiness of our fleet in preparation of an expected ramp up of activity in advance of the planned expansion of the LNG facilities.
“A change in leadership of the Government has introduced a level of uncertainty in final contracting related to the LNG expansion potentially delaying investment decisions and commencement of field activities,” Bailey said.
“We have recently made some substantial inroads to securing consistent well service work in the US and are extremely excited to be partnering with several new customers.”
High Arctic Energy Services Inc is an international drilling contractor operating in the country with its corporate and regional offices in Canada.