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RED DEER, ON, July 2 /CNW/ - High Arctic Energy Services Inc. (TSX: HWO)
(the "Company" or "High Arctic") today announced that it has now closed the
previously announced sale of one of its RAPAD Rigs for $11.0 million. The
RAPAD Rig is located in Canada and was not being actively operated due to the
refocusing of the Company's business plan on its core operations. The proceeds
have been used to pay down debt.
About High Arctic
The Corporation, through its subsidiaries, is a global provider of
specialized oilfield equipment and services, including drilling, completion
and workover operations. Based in Red Deer, High Arctic has domestic
operations in Alberta, British Columbia and the Northwest Territories.
International operations are currently active in Mexico, the Middle East,
Northern Africa and Asia.
The TSX has not reviewed and does not accept responsibility for the
adequacy or accuracy of this news release.
For further information:
For further information: Dennis Sykora, General Counsel, High Arctic
Energy Services Inc., Tel: (403) 340-9825, firstname.lastname@example.org