RE:Still only 9 rigs in Canada?Your 9 actual rigs in Canada are accurate (6-3)
D.Reynolds said by the end of August Akita should have 11 to 12 rigs operating
in Canada and in 11 to 12 in the US.
It is August 8th, not August 31th.Let see at the end of the month if he was right or wrong.
I have no reason to doubt him.Surely plan from their customers can change or be delayed.
We will find out in the next 23 days.
If they were to get to 11 or 12 on both side of the border and if day rates stays as elevated
as they have been, this should provide Akita with nice return.Debt reduction is having a direct
impact on the bottom line(more so since Akita does not or hardly pay any income tax because of their tax assets).
PD said they were very busy going forward so this may translate also to other drillers.
Can i ask you were you get your info. for Akita USA activity?
I get my Canada activity from the Rigger talk weeb site but can't find any web site
listing the details of rig activity by company
Many thanks in advance and have a nice day.
P.S:D.Reynolds thinks 2025 will be better than 2024.With their debt target being reach,
by year end, it will be interesting to see how they deploy the free cash flow.
Like i said many times, Akita may not move much in the short term and so far i have been to early
with my investment but i am still a big believer in this value play.
Obviously the drilling side will depend on the price of the comodity.
Time will tell