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 > Akita Drilling Ltd. Price Target Raised to C$3.75/Share

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Comment by blindpigon May 22, 2024 7:22pm

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Post# 36053043

RE:RE:RE:RE:Akita Drilling Ltd. Price Target Raised to C$3.75/Share

I do hope you right and I'm wrong.

Back when Akita's share price was above $10 and much higher it was "drill baby drill" and oil was a part of everyone's portfolio. That's not the case anymore. Rigs in Canada don't get more than 50% utilized even in peak times. The oil industry is generally despised and those that do invest pick larger liquid companies and don't need to invest in companies with dual share structures, especially ones as lop sided as Akita's. Times have changed and Akita bod should realize this and adapt to improve shareholder value.

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