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 > Annual meeting

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Post by lifeisgood1010on May 14, 2024 2:52pm

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Annual meeting

I did attend the virtual annual meeting today.

Colin Dease and Darcy Reynolds seemed quite upbeat for H2.They said that they think they will be running 12 rigs in the US from 8 right now.

They also said that CDN and USA will be strong in Q4 and should be firing in 2025.

Is this whisfull thinking?

They reiterated their goal of debt reduction of 15 to 20 million in 2024.

Why are investors selling at $1.47 is a conundrum to me.

I am keeping my shares.If the story folds like mngt think the market is heading, i will be rewarded
greatly if not, my Akita shares will be dead money.

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