- Under the renewed bid, High Arctic Energy may purchase up to 750,000 common shares between December 15, 2022, and December 14, 2023
- Daily purchases are limited to 5,936 common shares
- All common shares purchased under the NCIB will be cancelled
- Under the current bid, a total of 16,376 common shares were purchased at a weighted average price of $1.40 per share
- High Arctic Energy provides services to the oil and natural gas industry in Papua New Guinea and Canada
- High Arctic Energy Services Inc. (HWO) opened trading at C$1.50
High Arctic Energy Services (HWO) has received approval to conduct a normal course issuer bid (NCIB).
The corporation is authorized to purchase up to 750,000 common shares, or approximately 1.5 per cent of the issued and outstanding shares of High Arctic.
Under the bid, the corporation may purchase a maximum of 5,936 common shares per day. High Arctic may also make one block repurchase per calendar week which exceeds the daily limit.
The NCIB will run between December 15, 2022, and December 14, 2023. All common shares purchased under the NCIB will be cancelled.
The previous NCIB expires on December 14, 2022, and under that program, a total of 16,376 common shares at a weighted average price of $1.40 per share have been repurchased for cancellation.
High Arctic Energy Services provides contract drilling, well servicing, completion services, equipment rentals, and other oilfield services to the oil and natural gas industry in Papua New Guinea and Canada.
High Arctic Energy Services Inc. (HWO) opened trading at C$1.50.