Sunday, August 30, 2026

Two Oilfield Service Companies Combine

AKITA Drilling Ltd. (ticker: AKT) and Xtreme Drilling Corp. (ticker: XDC)  are combining under the AKITA name and will be operating 44 high-spec drilling rigs across multiple basins in the U.S. and Canada. The transaction value is approximately CAD$209 million, which includes CAD$10 million of Xtreme’s net debt. Per agreement terms, Xtreme shareholders will receive 0.29 of an AKITA class

Guess Where They’re Drilling the Bulk of the USA’s Vertical Wells?

Rightly regarded as the very heart of modern unconventional oil and gas drilling activity, the Permian Basin has some of the most concentrated horizontal drilling and completions operations in the country. However, there is a side of the Permian that is often overlooked—the vertical side. Vertical activity dominated the Permian long after most other major plays in the U.S. had