Ad blocking detected

Thank you for visiting CanadianInsider.com. We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.

Canadian Insider Ultra Club
$500/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads
JOIN THE CLUB

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

Akita Drilling Ltd. (T:AKT.A)

Business Focus: Oil & Gas Drilling (NEC)

Sector:  Energy Industry:  Oil & Gas Drilling
 
See Regulatory Filings on SEDAR
Company Contact
Address: 333 7 Ave SW Suite 1000
CALGARY AB T2P 2Z1
Tel: 1-403-2927530
Website: www.akita-drilling.com
IR: See website
Key People
Linda A. Southern-Heathcott
Chairman of the Board
Karl A. Ruud
President, Chief Executive Officer, Director
Nancy C. Southern
Vice Chairman of the Board
Darcy Reynolds
Chief Financial Officer, Vice President - Finance
Raymond T. Coleman
President USA Division
Colin A. Dease
Vice President, Canadian Operations and Corporate Secretary
Craig W. Kushner
Director - Human Resources
   
Business Overview
AKITA Drilling Ltd. (AKITA) is a Canada-based company, which provides contract drilling services, primarily to the oil and gas industry. The Company is oil and gas drilling contractor with a fleet of 37 drilling rigs. AKITA provides contract drilling services through two geographical segments: Canada and the United States. In addition to conventional drilling, the Company specializes in pad and other purpose-built drilling rigs and is active in directional, horizontal and underbalanced drilling providing specialized drilling services to a range of independent and multinational oil and gas companies. With a fleet of 20 rigs, the Company's Canadian division operates in Alberta, British Columbia, Saskatchewan, Yukon and the Northwest Territories. With a fleet of 17 rigs, the Company's United States division conducts operations in Colorado, Wyoming, Texas, New Mexico, North Dakota and Oklahoma.
Financial Overview
For the nine months ended 30 September 2021, AKITADrilling Ltd. revenues decreased 23% to C$75.7M. Net lossdecreased 75% to C$16.2M. Revenues reflect a decrease indemand for the Company's products and services due tounfavorable market conditions. Basic Earnings per Shareexcluding Extraordinary Items increased from -C$1.66 to-C$0.41.
Employees: 600 as of Dec 31, 2020
Reporting Currency: Canadian Dollars
Enterprise value: $106.90M as of Sep 30, 2021
Annual revenue (TTM): $96.61M as of Sep 30, 2021
EBITDA (TTM): $5.72M as of Sep 30, 2021
Net annual income (TTM): -$43.78M as of Sep 30, 2021
Free cash flow (TTM): -$6.44M as of Sep 30, 2021
Net Debt Last Fiscal Year: $75.53M as of Sep 30, 2021
Shares outstanding: 39,608,191 as of Sep 30, 2021
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization