Bullboard - Stock Discussion Forum 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... see more

TSX:AKT.A - Post Discussion

AKITA Drilling Ltd > Ensign up 15%

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Post by lifeisgood1010 on Mar 01, 2024 11:15am

Ensign up 15%

ESI EPS forcast for Q4 were in a range of 3 to 7 cents.
They came in at 17 cents.

In a very slow market, these drillers are showing improved results.

Like i wrote on the ESI board this morning

The DUC were high in 2023 but are coming down.This should have a positive impact on drillers in 2024.

Also ESI has rigs in California were drilling is on the way down VS Akita in the Permian.

I just added 400 shares.I now have 81,600.

There is a lot of sellers at $1.51.73500 shares are offered at $1.51.

I just don't understand why anyone would want to sell at these prices.
but it is what it is.

From Ensign outlook

In 2024, the Company expects positive oil prices to support relatively steady oilfield services activity in order to maintain or potentially grow production, especially so in consideration of well productivity declines and low drilled but uncompleted ("DUC") well inventory in certain producing areas in the United States. In addition, the Company remains optimistic regarding Canadian drilling activity with the completion of the Trans Mountain oil pipeline expansion project and the completion of the Coastal GasLink pipeline expected in 2024. In additional, several liquefied natural gas ("LNG") projects, including LNG Canada, are expected to support activity over the medium-to-long term.