High Arctic Energy Services

What High Arctic Energy Services does

High Arctic Energy Services Inc. is a Calgary-based, TSX-listed (HWO) oilfield services company that provides specialized well completion services and rents oilfield equipment to exploration and production (E&P) companies in Western Canada, with secondary exposure to Alaska through a minority equity stake. Following an August 2024 reorganization in which the Company spun out its Papua New Guinea business to shareholders as High Arctic Overseas Holdings Corp. (TSXV: HOH) and returned CAD 37.8 million of capital, the continuing entity is focused on its Canadian rental business and a non-controlling investment in snubbing services.

The core operating brand is Delta Rental Services Ltd., a wholly owned subsidiary acquired in December 2023 for CAD 7.0 million (including earn-outs). Delta offers an extensive line-up of oilfield rental equipment — rig matting, camps, material handling, drilling support equipment, and specialized pressure control and well stimulation equipment — from bases in Red Deer and Whitecourt, Alberta. The Company also holds a 42% equity interest in Team Snubbing, which provides snubbing and hydraulic workover services with professionally trained crews in Western Canada and Alaska, contributing a proportionate share of net income rather than consolidated revenue. The Company holds a COR safety certification through Enserva and reports over eight years of recordable incident-free operations in its Canadian Rentals business.

The business model is fundamentally usage-based: revenue is generated from equipment rentals to E&P companies, with additional managed-services-style contributions from the Team Snubbing equity investment. The go-to-market is direct sales to enterprise E&P customers in Western Canada, supported by investor relations, news releases, and a corporate website. Headcount is small (11–50 employees), FY 2025 revenue from continuing operations was CAD 10.6 million, and Q1 2026 revenue of CAD 2.7 million was up 17% year-over-year, indicating the Company is in a turnaround phase after the 2024 spin-out.

Name

High Arctic Energy Services

Legal name

High Arctic Energy Services Inc.

Website

https://haes.ca

Company type

Public

Founded year

1993

Operating status

Operating

Headcount range

11–50 employees

Short description

High Arctic Energy Services (TSX: HWO) is a Calgary-based oilfield services company that rents pressure control, well stimulation, and wellsite equipment to E&P customers in Western Canada, operating through its Delta Rental Services subsidiary and a 42% equity stake in Team Snubbing.

Ownership category

akta.pro rank

Product category

Oilfield Equipment Rental and Well Completion Services

NAICS

Commercial and Industrial Machinery and Equipment Rental and Leasing (5324), Other Commercial and Industrial Machinery and Equipment Rental and Leasing (53249)

SIC

Oil & Gas Field Services, Nec (1389), Oil & Gas Field Machinery & Equipment (3533)

akta.pro primary industry

Production Services & Artificial Lift (ESP, Rod Lift, Gas Lift, Chemicals) (EUALABAH)

Keywords

• Oilfield equipment rental
• Pressure control services
• Well completion services
• Snubbing services
• Drilling support equipment

Headquarters

HQ city

Calgary

HQ country

Canada

HQ region

North America

Offices7 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Supply Chain, Infrastructure, Technology or R&D

Revenue model

1. Equipment Rental Revenue: Rental revenue from pressure control equipment, rig matting, camps, material handling, drilling support equipment, and specialized well stimulation equipment provided to exploration and production companies on a rental basis
2. Snubbing Services (Equity Investment): 42% equity interest in Team Snubbing contributing proportionate share of net income from Alaska and Canadian operations

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

High Arctic Energy Services provides oilfield equipment rental and specialized well completion services, primarily through its wholly-owned Delta Rental Services division. The rental fleet includes pressure control equipment, rig matting, camps, material handling, and drilling support equipment leased to exploration and production companies in Western Canada. The company also holds a 42% equity interest in Team Snubbing, which provides snubbing and hydraulic workover services in Western Canada and Alaska.

Product overview

High Arctic Energy Services is a Canadian oilfield services company operating as a market leader providing specialized well completion services and rental equipment. The company operates through two primary divisions: Delta Rental Services (core rental business acquired in 2023) offering oilfield rental equipment including pressure control and well stimulation equipment for wellsite needs; and Team Snubbing (42% equity investment) providing snubbing and hydraulic workover services. The company serves exploration and production companies in Western Canada from bases in Whitecourt and Red Deer, Alberta.

Differentiator

Problem solved

Functional benefit

Brands

• Delta Rental Services: Oilfield rental equipment subsidiary offering rig matting, camps, material handling, drilling support equipment and pressure control equipment for wellsites
• Team Snubbing

Products and services

• Delta Rental Services Core oilfield equipment rental business offering an extensive line-up of oilfield rental equipment for wellsite and pressure control needs, including rig matting, camps, material handling, drilling support equipment, and specialized pressure control and well stimulation equipment. Serves exploration and production companies in Western Canada from bases in Red Deer and Whitecourt, Alberta.
• Team Snubbing Services Snubbing and hydraulic workover services provider with professionally trained crews operating in Western Canada and Alaska. High Arctic holds a 42% equity interest in Team Snubbing, which markets the former High Arctic snubbing and hydraulic workover packages.

Quantifiable outcome

• Over 8 years recordable incident-free in Canadian Rentals businesses as of May 2026
• +2 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Three partnerships are on record, tiered core and minor.

• Delta Rental Services Ltd.coreStrategic or Co-development Partner · 28 December 2023Acquired Delta Rental Services Ltd. for $7 million including earn-out provisions. Delta offers extensive line-up of oilfield rental equipment for wellsites and pressure control needs. The acquisition expanded High Arctic's Canadian operations and is the company's core business under the Delta Rental Services banner.
• Team SnubbingcoreStrategic or Co-development PartnerHigh Arctic maintains a 42% equity investment in Team Snubbing, a leading provider of well-control services to the oil and gas drilling industry with operations in western Canada and Alaska. Team Snubbing markets the former High Arctic snubbing and hydraulic workover packages with professionally trained crews.
• MNP LLPminorOthersAppointed as the corporation's auditors for FY 2025, replacing previous auditor.

Scale indicators11 records

Recent moves7 records

Expansion highlights4 records

Direct peers

• Essential Energy Services: Canadian oilfield services company providing pressure pumping, coil tubing, and equipment rentals to Western Canadian E&P customers — directly comparable as a small-cap WCSB-focused service provider with similar end-market exposure.
• STEP Energy Services: Canadian-based oilfield services provider offering pressure pumping, coiled tubing, and nitrogen services across Western Canada — directly comparable niche completion-focused service peer serving the same WCSB customer base.
• Trican Well Service: Major Canadian pressure pumping and well completion services company; overlapping with High Arctic's pressure control and well stimulation focus while operating at materially larger scale across Canada.
• Cathedral Energy Services: Canadian directional drilling and oilfield services company serving E&P customers in Western Canada — comparable small-cap WCSB service provider with similar completion-phase customer overlap.
• Western Energy Services: Canadian oilfield services company operating contract drilling rigs and well servicing rigs primarily in Western Canada — directly comparable WCSB-focused service operator with overlapping E&P customer base.

Broad incumbents

• Calfrac Well Services: Canadian-headquartered oilfield services company specializing in pressure pumping and well stimulation across Canada, the US, and Argentina — a larger incumbent serving similar completion-services customers with broader geographic reach.
• Secure Energy Services: Canadian energy services company providing wellsite facilities, oilfield rentals, and processing services to Western Canadian producers — broad incumbent with overlapping oilfield rental and infrastructure offerings.
• Precision Drilling: Largest Canadian contract drilling and well servicing company, from whom High Arctic previously acquired snubbing assets in 2019 — broad incumbent operating across the same Western Canadian service ecosystem.
• Enerflex: Canadian-headquartered energy infrastructure and services provider offering rental equipment, natural gas processing, and field services — broad incumbent with overlapping oilfield equipment rental operations in Western Canada.

Regional players

• Mullen Group: Diversified Canadian logistics and oilfield services company with oilfield hauling, equipment rentals, and wellsite support across Western Canada — regional peer offering comparable oilfield rental and support services in the same geography.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/HighArcticEnergyServices
• LinkedInlinkedin.com/company/high-arctic-energy-services

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about High Arctic Energy Services