High Arctic Reports 2017 Third Quarter Results

By , in PR PR World on .

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.  ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWCALGARY, Alberta, Nov. 09, 2017 — High Arctic Energy Services Inc. (TSX:HWO) – “High Arctic” or the “Corporation” is pleased to announce its 2017 third quarter results.Mr. Michael Binnion, High Arctic’s Interim CEO stated: “Our strategy of focusing on niche markets with barriers to entry has really paid off. Since the downturn in world energy markets we have successfully renewed or renegotiated our customer contracts in Papua New Guinea allowing us to have three rigs currently under contract in the country. In spite of the down turn we have not only maintained our dividend but kept a payout rate of under 30%. We are looking towards growth starting again in 2018 from anticipated improving markets for Papua New Guinea and Canada.”Highlights

The following two tabs change content below.
Sarah Thompson

Sarah Thompson

Sarah is a financial reporter, focusing on technology, national security, and policing. Before joining Daily Telescope she worked as a staff writer at Fast Company and spent two years as a foreign correspondent in Turkey. Her work has been published in Al Jazeera America, The Nation, Vice News, Motherboard, and many other outlets.
%d bloggers like this: