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.

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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.