Business
High Arctic Closes Sale of RAPAD Rig
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FA...
About this update from High Arctic Energy Services Inc
[{"type":"text","content":"\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION\n\n\nIN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY\n\n\nCONSTITUTE A VIOLATION OF U.S. SECURITIES LAW/\n\n\nRED DEER, ON, July 2 /CNW/ - High Arctic Energy Services Inc. (TSX: HWO)\n(the "Company" or "High Arctic") today announced that it has now closed the\npreviously announced sale of one of its RAPAD Rigs for $11.0 million. The\nRAPAD Rig is located in Canada and was not being actively operated due to the\nrefocusing of the Company's business plan on its core operations. The proceeds\nhave been used to pay down debt.\n\n\nAbout High Arctic\n\n\nThe Corporation, through its subsidiaries, is a global provider of\nspecialized oilfield equipment and services, including drilling, completion\nand workover operations. Based in Red Deer, High Arctic has domestic\noperations in Alberta, British Columbia and the Northwest Territories.\nInternational operations are currently active in Mexico, the Middle East,\nNorthern Africa and Asia.\n\n\nThe TSX has not reviewed and does not accept responsibility for the\n\n\nadequacy or accuracy of this news release.\n\n\n%SEDAR: 00025582E\n\n\n","length":1277,"tagName":"div"}]