CALGARY, Oct. 30, 2019 /CNW/ – AKITA Drilling Ltd. (TSX: AKT.A)
AKITA Drilling Ltd. (“the Company”) announces that its focus on consolidation of its US operations continues with four more drilling rigs moving to the Permian basin. This brings the Company’s total rig count operating out of its Midland, Texas facility to ten rigs out of the Company’s 17 rig US fleet.
The third quarter of 2019 showed stronger results for the Company. Operating margin increased by 118%, up to $13,361,000 in the third quarter of 2019, from $6,120,000 in the same period of 2018. EBITDA improved significantly to … Continue Reading