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

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Comment by Hockeyzon May 23, 2024 2:40pm

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Post# 36054456

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

It is really noticeable over the last 7+ years. Again, Akita has always had the dual share structure. At the beginning of 2018, the PD (Precision Drilling) stock price was 76.2, 10X the Akita stock price at 7.61. Currently, the PD stock price is $96, more than 66X the Akita stock price of $1.45. The PD stock is up 26% since 2018, while the Akita stock is down 81% since 2018. This does not seem to make much sense since they are both in the same drilling part of the oil and gas industry.

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