Ruggs Holdings Ltd. and Pioneer Oil Well Service Corp

Ruggs Holdings Ltd. and Pioneer Oil Well Service Corp. are the subject of active insolvency proceedings in Alberta. A Statement of Affairs for Pioneer Oil Well Service Corp., as stated and estimated by the debtor as at March 10, 2025, puts the company's total assets at $1,667.00 against total liabilities of $3,960,000.00, for a stated deficiency of $3,958,333.00. The whole of the asset figure matches the reported aggregate secured claim of $1,667.00, secured against funds held in Court. Unsecured claims are reported in aggregate at $3,958,333.00, with nothing reported as preferred and nothing as contingent or held in trust.