Business
High Arctic Announces 2025 Fourth Quarter and Annual Financial and Operating Results
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAI...
About this update from High Arctic Energy Services Inc
[{"type":"text","content":"High Arctic Announces 2025 Fourth Quarter and Annual Financial and Operating Results\nNOT 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 LAW CALGARY, Alberta, March 31, 2026 (GLOBE NEWSWIRE) -- High Arctic Energy Services Inc. (TSX: HWO) (the “Corporation” or “High Arctic”) released its fourth quarter and annual financial and operating results for the year ended December 31, 2025. The audited consolidated financial statements (the “Financial Statements”), management discussion & analysis (“MD&A”), and annual information form (“AIF”) for the year ended December 31, 2025 will be available on SEDAR+ at www.sedarplus.ca, and on High Arctic’s website at www.haes.ca. All amounts are denominated in thousands of Canadian dollars (“CAD”), unless otherwise indicated. Lonn Bate, Interim Chief Executive Officer commented: “2025 was a year of meaningful financial and operational progress for both High Arctic and Team Snubbing. At High Arctic, we realized accelerating customer activity in central Alberta, particularly in the second half of the year, driven by increased development in the Duvernay near our Red Deer operations. Our current service offerings and facility locations uniquely position us to provide our customers with the assets they need while allowing us to maintain an exceptional level of customer service. Team Snubbing, of which High Arctic maintains a 42% equity interest, was active in 2025 on the Alaskan North Slope with another snubbing package recently put to work in Alaska. These developments have validated their strategic entry into the Alaskan market, providing them with increased scale and a solid platform for future profitable growth. Although we are keenly aware of the near‑term uncertainty that exists in the current environment, High Arctic remains optimistic for 2026. The majority of our key customers have increased their spending plans for the coming year and accordingly our team has been busy executing on current work while at the same time preparing for anticipated work to come. As always, we remain committed to delivering our high standard of customer service with a relentles...