AKITA Drilling Ltd T.AKT.B

Primary Symbol: T.AKT.A Alternate Symbol(s): AKTAF

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

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Post by lifeisgood1010on Nov 14, 2024 9:53am

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Post# 36312516

Paramount budget for 2024 = $575 million

I got this from AI without doing other research so do your own DD

But from the likes of it there is a good potential for drilling $$ if Akita
can get some works here in Canada since they are already a customer of Ovintiv
down in the USA(Permian)

Capital expenditures: In the second quarter of 2024, Paramount's capital expenditures totaled $241 million
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. This covered various activities, including drilling, completing, and bringing wells into production across different regions.
Drilling activity: The company drilled a significant number of wells in the second quarter of 2024:
- Grande Prairie Region: 11 Montney wells
- Kaybob Region: 5 Duvernay wells
- Central Alberta and Other Region: 4 Duvernay wells
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2024 capital budget: Paramount's 2024 capital budget at midpoint is broken down as follows:
- $575 million for drilling, completion, equipping, and tie-ins