AKITA Drilling Ltd T.AKT.B

Primary Symbol: T.AKT.A Alternate Symbol(s): AKTAF

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 > First Quarter Results

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Comment by Angleson May 01, 2024 1:13pm

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Post# 36017714

RE:First Quarter Results

I would note that the estimate for earnings for this upcoming first quarter are currently at $0.05 per share. With an estimate of $0.12 for the entire 2024 year. Plus, the current estimate for earnings in 2025 and 2026 are $0.23 and $0.29 respectively (everything entirely dependent on the price for and demand of oil/drilling). This should be enough to meet their aggressive debt repayment plans/schedule and get back to some sort of small regular dividend payment by 2026. However, I am not sure it is enough to drive the stock much higher from here??? That continues to be a replacement value driven question, in my opinion.
Angles

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Two micro-cap stocks with strong fundamentals