High Arctic Energy Services

High Arctic Energy Services has agreed to acquire the snubbing services equipment assets of Precision Drilling, located in Canada, for $8.25 million in cash. The acquisition is expected to close on April 15, 2019.

High Arctic Energy Services acquired all shares of Powerstroke Well Control Ltd for $9.4 million, adding eight hydraulic workover units and a new build service rig, expanding into the United States and becoming the largest snubbing operator in Canada.