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AKITA Drilling Ltd T.AKT.B


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

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

Comment by blindpigon May 02, 2024 10:24pm
151 Views
Post# 36020890

RE:RE:First Quarter Results

RE:RE:First Quarter ResultsIf that's the best Akita can achieve this stock will be stuck in the current $1.5 range for the foreseeable future. The bod needs to come up with a plan to enhance shareholder value. A merger with a larger oil serrvice company would be my preferred route.  And until that can be achieved to reinstate even a small dividend to give shareholders a reason to hold the stock. $0.01 a quarter would cost less than $2 million a year and wouldn't have big effect on debt reduction plans. 
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