10:09 AM EST, 11/07/2025 (MT Newswires) -- High Arctic Energy Services ( HGHAF ) said Friday that a new customer and producers developing their Duvernay assets boosted third-quarter net earnings and revenue.

Net income jumped to $931,000 or $0.07 per share, from $125,000 or $0.01, per share, in the prior year period.

Revenue rose 17% to $2.93 million. The company said revenue was positively impacted by the addition of a significant amount of high-pressure stimulation work performed for a new customer.

High Arctic's 42% equity share of Team Snubbing's net income for the quarter was $756,000, significantly higher than the $105,000 recognized last year. Team Snubbing continues to benefit from an increase in customer activity, particularly in its operations in Alaska, a statement said.

In its fourth-quarter outlook, High Arctic said activity and well licensing have softened compared to 2024 levels. Customer capital allocation decisions to complete wells continue to show signs of deferral.

"Q3 2025 results benefited from the provision of significant high-pressure stimulation work for a new customer which contributed to top-line growth and margin expansion. Improved financial performance was achieved as producers continued to deploy capital in developing their Duvernay assets while overall industry activity levels have softened compared to 2024," said interim chief executive Lonn Bate.

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