High Arctic Energy Services reported Q1 results that fell YOY largely due to drilling disruptions in Papua New Guinea. Q1 featured net income of C$4.4 million (US$3.4 million) on revenue of C$53.7 million compared with 1Q17’s net income of C$9.0 million and C$64.8 million in revenue. The PNG drilling was suspended after a Feb. 28 earthquake. Calgary-based company, which owns two rigs in PNG and operates two others, suffered only minor damage to some......
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