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 > RJ comments on PD: Drilling Rig Market in Canada is Sold Out

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Comment by blindpigon Jun 07, 2024 9:07am

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Post# 36077162

RE:RE:RJ comments on PD: Drilling Rig Market in Canada is Sold Out

According to PD they have 98 rigs in Canada operational and peak usage q1 was 83 for 85% and average was 69 for 70%. So close be 100% usage at peak requirement in the strong winter period. PD has 173 registered rigs in Canada so only talking active rigs. Probably the inactives are mostly lower quality rigs that may never come back on the market. Aktita was 42% utilization on 17 rigs which would be an average rate. Seems there is room for Akita to move up if PD is getting to full capacity.

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