AKITA Drilling Ltd T.AKT.A

Alternate Symbol(s): AKTAF | T.AKT.B

Energy Oil & Gas Drilling

AKITA Drilling Ltd. is a Canada-based intermediate land drilling contractor. The Company and its subsidiaries provide contract drilling services, primarily to the oil and gas industry, in Canada and the United States. The Company owns and operates 35 drilling rigs (33.65 net of joint venture ownership). The Company provides contract drilling services through two geographical divisions: Canada and the United States (US). With a fleet of 20 rigs, the Company’s Canada division operates in Alberta, British Columbia, Saskatchewan, and from time to time, in the Yukon and the Northwest Territories. The Canadian division operates both wholly owned rigs and rigs that are partially owned by the Company. US division conducts operations with a fleet of 15 rigs and operates in Texas and New Mexico in the Permian Basin.

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AKITA Drilling Ltd

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Post by lifeisgood1010on Feb 23, 2024 1:28pm

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Post# 35896040

Rig counts.Slight improvement

While still way down from last year in the USA, in Canada it's close to last year.

We can't declare victory yet, but we saw an improvement from last week

Last week in the USA we were at -139.this week we are at -127 an improvement of +12
on a year over year.

In Canada,we were at -14 and this week we are at -13 a +1 gain.

The good news for me as a shareholder it is that Akita is steady in this low environment.
Don't forget, technologie has improved in the drilling industry but if you dow't drill, you
don't find and you don't extract oil and gas from the ground.
I will say it again, do i expect to see Akita move higher in the very near term.NO
But it will be a very good investment in 12 to 24 months.Probably more 12 than 24 months.
Akita assets value are just to high VS the selling price of the stock.
It's always only a matter of time.