Akita Drilling Ltd. (T:AKT.A)
Business Focus: Oil & Gas Drilling (NEC)
| Sector: Energy | Industry: Oil & Gas Drilling |
| Company Contact | |
| Address: | 333 7 Ave SW Suite 1000 CALGARY AB T2P 2Z1 |
| Tel: | 1-403-2927530 |
| Website: | https://www.akita-drilling.com |
| IR: | See website |
| Key People | ||
| Linda A. Southern-Heathcott Executive Chairman of the Board, Chief Executive Officer | Colin A. Dease President, Chief Operating Officer | Nancy C. Southern Vice Chairman of the Board | Darcy Reynolds Chief Financial Officer, Vice President - Finance |
| Business Overview |
| AKITA Drilling Ltd. is a Canada-based intermediate land drilling contractor. The Company and its subsidiaries provide contract drilling services, primarily to the oil and gas industry, in Canada and the United States. The Company owns and operates 35 drilling rigs (33.65 net of joint venture ownership). The Company provides contract drilling services through two geographical divisions: Canada and the United States (US). With a fleet of 20 rigs, the Company's Canada division operates in Alberta, British Columbia, Saskatchewan, and from time to time, in the Yukon and the Northwest Territories. The Canadian division operates both wholly owned rigs and rigs that are partially owned by the Company. US division conducts operations with a fleet of 15 rigs and operates in Texas and New Mexico in the Permian Basin. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, AKITA Drilling Ltd. revenues increased 12% to C$225.5M. Net income increased from C$4.3M to C$18.4M. Revenues reflect Contract Drilling Services segment increase of 12% to C$124.1M, Rig Lease Revenue segment increase of 12% to C$101.4M, United States segment increase of 16% to C$169.5M, Canada segment increase of 1% to C$56M. |
| Employees: | 1,000 as of Dec 31, 2023 |
| Reporting Currency: | Canadian Dollars |
| Enterprise value: | $117.57M as of Mar 31, 2024 |
| Annual revenue (TTM): | $225.48M as of Mar 31, 2024 |
| EBITDA (TTM): | $43.13M as of Mar 31, 2024 |
| Net annual income (TTM): | $18.42M as of Mar 31, 2024 |
| Free cash flow (TTM): | $10.98M as of Mar 31, 2024 |
| Net Debt Last Fiscal Year: | $59.23M as of Mar 31, 2024 |
| Shares outstanding: | 39,730,191 as of Apr 11, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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