RE:RE:RE:RE:Akita advantages....I recently saw a video with Darcy Reynolds and M.C.Dease,that is what they were projecting.
Can't find that video but i don't see why they would lie.
Obviously, every ceo and cfo have a positive view in their prospect so i can understand that
some may be sceptic.
I also attended the virtual AGM and if my memory serves me good, that was their goal.
They were also upbeat for 2025
Every friday at 1:00 p.m. i check the Baker Hughues rig count.
Last week there was an increase of + 14 rigs in Canada.PD says that they are very busy.
From what i read, the drilled but uncompleted wells(DUC) in the Permian are also down
significantly.This bodes well for their Extreme division.
Most if not all Energy producers have been showing discipline like never before.
They have been increasing dividend, paying down debt and buying back shares.
But at some point in time, they will need to drill.Yes with the new technologies,
drilling have been more efficient.But no or low drilling mean declining production.
Especially with high shale depletion.
If you are interested in Akita and have a few minutes to spare, have a look at their last fall
presentation.
They say that their US rigs have a market value of 255 million or 349 million Canadian
their Canadian rigs are have a a market value of 120 million.
So (349+120)/ 39,734,191 shares = $11.80
Substract all of the actual LT debt of 69 million( that will be close to 50 to 55 million at year end
get you to $10.07
Akita won't trade to $10 or $11 but i firmly believe that it won't trade at these low price in 2025
And once again, i could be wrong.
Here is the link to the presentation
PowerPoint Presentation (akita-drilling.com)