Total is paying north of 4.5 million(cdn$) for these Australian rigs.Just as a rule of tumbs,
Akita 35 rigs are worth $4.01.
Most of Akita's rigs are pad triple so probably worth more.
In the stock market we do see these anomaly once in a while.
How long will it take to be ajusted is anybody's guess.
Total Energy Services Inc. to Acquire Saxon Energy Services Australia Pty Ltd.
CALGARY, Alberta, Jan. 17, 2024 (GLOBE NEWSWIRE) -- Total Energy Services Inc. (“Total Energy” or “the Company”) (TSX:TOT) is pleased to announce that its wholly owned subsidiary Savanna Energy Services Australia Pty Ltd. (“Savanna Australia”) has entered into an agreement with SLB to acquire all of the shares of Saxon Energy Services Australia Pty Ltd. (“Saxon”) for US $37.0 million cash (the “Acquisition”). The Acquisition is expected to be completed during the first quarter of 2024, subject to the satisfaction of certain conditions including the receipt of regulatory approvals.
Headquartered in Brisbane, Australia, Saxon owns and operates a fleet of 11 land drilling rigs, 10 of which are currently marketed. Saxon’s marketed fleet includes four 600 horsepower rigs with hook load capacities ranging from 150,000 to 200,000 pounds, and six 1,200 horsepower rigs with hook load capacities ranging from 320,000 pounds to 400,000 pounds.
Savanna Australia currently owns and operates five hybrid coil tubing drilling rigs in Australia. These rigs have hook load capacities ranging from 100,000 to 150,000 pounds. A sixth rig, an AC electric rig with a hook load capacity of 150,000 pounds, is currently under construction and is scheduled to commence operations in Australia in mid-2024 under a long term contract.