AKITA Drilling Ltd T.AKT.A

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

Energy Oil & Gas Drilling

AKITA Drilling Ltd. provides contract drilling services, primarily to the oil and gas industry, in Canada and the United States. The Company is an oil and gas drilling contractor with a fleet of about 32 drilling rigs. Its United States fleet is supported out of its operations base in Midland, Texas and consists of 13 high specification AC triple rigs, one high specification AC double rig and one DC triple rig, all serving the Permian Basin. With a fleet of 17 rigs, its Canadian division operates in Alberta, British Columbia, Saskatchewan, and as market conditions dictate, the Yukon and the Northwest Territories. The Canadian division operates both wholly owned rigs and rigs. Its Canadian division primarily operates in the oil sands, heavy oil regions and in the Montney deep gas basin. In addition, the Canadian division plays a role in drilling potash and other energy transition targets, including carbon capture wells, hydrogen storage wells and geothermal wells.

TSX:AKT.A - Post by User

AKITA Drilling Ltd > Significant Improvement?

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Post by JimMcBoon Oct 20, 2022 10:39am

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Post# 35036164

Significant Improvement?

The stock has been on fire the past couple of days on no news. A hint that next quarter earnings are going to be postive? Last quarter management said:

"With activity levels continuing to rise, the Company has secured meaningful day rate increases as current contracts are renewed throughout the remainder of the year. These rate increases will be most impactful in the third and fourth quarters of 2022 and are expected to significantly improve results."

I'm looking for some black on the bottom line for a change.

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