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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.


TSX:AKT.A - Post by User

AKITA Drilling Ltd > Ranking drillers by activity
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Post by lifeisgood1010on Oct 25, 2024 10:14am
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Post# 36281875

Ranking drillers by activity

Ranking drillers by activityThis morning, i went on to see what was the activity levels by the major listed drillers in Canada

Here is the ranking as of yesterday.

Akita:76%. 13 of 16 rigs working
Ensign:73% 52 of 71 rigs working
Precision: 73% 72 of 98 rigs working
Savanna: 42% 24 of 57 rigs working
Horizon: 33% 12 of 36 rigs working

The numbers speeks for themself.Akita is the smallest but it is the one that is the busiest.

Q4 will be very, very good.Since about 50% of their revenus are generated from the USA
the Weakness of our Dollars will add to the very good results in Q4.

I have been building my position since last August.I was way too early but i don't believe
i was wrong in my analysis.

with every that passes, i am getting closer to see a better valuation of my investment.

I bought more shares yesterday and will be buying more in the coming weeks.

Nice weekend to all
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