RE:RE:RE:RE:Akita prior CEO now with EnsignCould not agree more on your comment.
Indeed it's a highly competitive market.
What i do like about Akita is the casm in it's SP VS their asset value.
Like you said, they don't have much single or double.
Most are pad triple.
Akita took huge write off for their assets during covid.They went close to disaster
Now, they are tackling their debt(like most if not all of the drillers)
In their most recent presentation Akita says that the ACTUAL market value
of their fleet is $11.71 / share.
Are they over optimist? maybe but how much 10%, 20% 30% i don't have the answer.
The fact that they were again profitable in Q3 in a very soft market tells me that
this could be a very rewarding stock IF and that is always the case there were and increase
in the usage of drilling rigs.
For me, this is a stock that as a very high reward potential and at these valuation a low risk one.
I could be wrong.If WTI were to go down quite a bit , well this stock and all the
other drillers wont be increasing in value.
But if WTI stays at $80+ and God forbid goes close to $100 then i think Akita
will fly.
Again ,thanks for your insight and good luck with all of your investments