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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
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Post by lifeisgood1010on Feb 07, 2024 2:37pm
218 Views
Post# 35868104

Higher day rates.

Higher day rates.I said it would be my last post but i forgot to mention day rates.

I am no expert on drilling rigs i only look at financial numbers

So i guess day rates can vary very much from one company to the other based on
different type of equipment.

In yesterday  Precision's drilling data we saw that their Canadian day rates have improved from
Q3 to Q4 and down only slightly in the US even though activity is slow down there.

More so is the comparison of the day rates VS last year.

This bode well for Akita

Here are PD's numbers

For Canada
Q3  2023= $32224
Q3 2022 = $26927

Q4 2023 = $34616
Q4 2022 = $29886

For the USA

Q3  2023= $35135
Q3 2022 = $27847

Q4 2023 = $34452
Q4 2022 = $31242

As for Akita

For Canada

Q3  2023= $39559
Q3 2022 = $31054

For the USA

Q3  2023= $38936
Q3 2022 = $35196

Last year Akita reported it's Q4 results on March 20th.



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