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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 Jun 05, 2024 1:42am
169 Views
Post# 36072538

RE:RE:running at least 11 rigs in Canada by August."

RE:RE:running at least 11 rigs in Canada by August."In the clip, the CFO says they'll start to look at returning money to shareholders when debt is $40-50 million.  They should be there year end on a net debt basis. I'd like them to then do a share buyback of 10%. This would only cost $6 million even at $1.5 a share. A dividend of at least $0.10 annually for another $4 million.  These would only use $10 million so would still have left $10-20 million for debt reduction.  I don't think it'd get the shares to the ATB target, but at least to the $2 range up from the current pathetic $1.34. 
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