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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
Tel: 1-403-2927530
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