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

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AKITA Drilling Ltd > Ranking drillers by activity

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Post by lifeisgood1010 on Oct 25, 2024 10:14am

Ranking drillers by activity

This 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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Comment by blindpig on Oct 26, 2024 2:34pm

Lifeisgood, thanks for doing the work on rig activity. I've added to my position over the last few months. Akita stock has outperformed PD over the last 3 months, and it looks like there are now buyers on any pullback under $1.60. Both Timelo and Arrow were larger sellers into the market, but now don't have many shares left to sell so that should be bullish going ...more

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