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The dividend will be paid in Sterling on 30 October 2026, with the Sterling value of the dividend payable per share fixed and announced approximately two weeks prior to the payment date, based on the average spot exchange rate over the three business days preceding the announcement date. 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Shared service functions have been initiated in Europe and North America to save back-office costs. The new programme will also incorporate a review of the Group’s SG&A costs, with cost savings on track to be delivered by 2027.",[],{"_key":647,"_type":173,"children":648,"markDefs":652,"style":182},"4ebed53ab976",[649],{"_key":650,"_type":177,"marks":651,"text":180},"043b90944ef3",[],[],{"_key":654,"_type":173,"children":655,"markDefs":660,"style":182},"25c1a4e94fa6",[656],{"_key":657,"_type":177,"marks":658,"text":659},"47f37feab568",[216],"EMEA restructuring",[],{"_key":662,"_type":173,"children":663,"markDefs":668,"style":182},"98814242d6e1",[664],{"_key":665,"_type":177,"marks":666,"text":667},"049e67e76f66",[],"The Group’s planned restructuring of its EMEA operating segment is near completion, with facilities in the Netherlands and Norway closed and the Fordoun, UK facility to be closed in September. 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Subsea and intelligent well completion businesses remain a particular area of focus for the Group.",[],{"_key":701,"_type":173,"children":702,"markDefs":706,"style":182},"215ad7bd27c3",[703],{"_key":704,"_type":177,"marks":705,"text":180},"4a7f395e4008",[],[],{"_key":708,"_type":173,"children":709,"markDefs":714,"style":182},"fabd49ae2a37",[710],{"_key":711,"_type":177,"marks":712,"text":713},"e4fdc9231267",[],"Dividend - The Board is declaring an interim dividend of 7.0 cents per share (H1 2025 – 6.2 cents), which represents a 13% increase over the interim dividend paid in 2025. The Directors also project that dividend distributions will continue to rise at 13% per annum through to the end of the decade, consistent with our ambition of annual increases of at least 10% published at the Group’s Capital Markets Day in 2023.",[],{"_key":716,"_type":173,"children":717,"markDefs":721,"style":182},"d0563b99643b",[718],{"_key":719,"_type":177,"marks":720,"text":180},"5273af001b5d",[],[],{"_key":723,"_type":173,"children":724,"markDefs":729,"style":182},"e677f6effa1a",[725],{"_key":726,"_type":177,"marks":727,"text":728},"beda210354ad",[],"Share buyback programme - the Group announced a second buyback programme in March 2026. The $40m programme is underway and is due to be completed by March 2028. By this point, the Company will have returned $100m to shareholders through two buyback programmes.",[],{"_key":731,"_type":173,"children":732,"markDefs":736,"style":182},"b7788b080075",[733],{"_key":734,"_type":177,"marks":735,"text":180},"9675bf4119c3",[],[],{"_key":738,"_type":173,"children":739,"markDefs":744,"style":182},"8ea5813d6921",[740],{"_key":741,"_type":177,"marks":742,"text":743},"37be96b4909e",[216],"H1 2026 investment in working capital anticipated to unwind in H2",[],{"_key":746,"_type":173,"children":747,"markDefs":752,"style":182},"a54f9fe013d6",[748],{"_key":749,"_type":177,"marks":750,"text":751},"39939bf78ebb",[],"In H1 2026, the Group recorded a $58.0m working capital outflow compared with a $25.8m inflow in H1 2025, driven by forward material purchases within the Hunting Titan and Subsea Technologies operating segments, in addition to an increase in receivables balances within both these operating segments, reflecting recognised revenue in the period.",[],{"_key":754,"_type":173,"children":755,"markDefs":759,"style":182},"9f2704713ae6",[756],{"_key":757,"_type":177,"marks":758,"text":180},"e55f77252d34",[],[],{"_key":761,"_type":173,"children":762,"markDefs":767,"style":182},"c1ad302820e9",[763],{"_key":764,"_type":177,"marks":765,"text":766},"9d8941f2903d",[216],"Combination of EMEA and Asia Pacific operating segments",[],{"_key":769,"_type":173,"children":770,"markDefs":775,"style":182},"cf9846e4c5ba",[771],{"_key":772,"_type":177,"marks":773,"text":774},"0163fa9c7421",[],"Following completion of the restructuring of the EMEA operating segment, the Directors announced in April 2026 that the EMEA and Asia Pacific operating segments would be combined to form an International operating segment from January 2027 to better align the business with customer requirements and improve our commercial offering.",[],{"_key":777,"_type":173,"children":778,"markDefs":782,"style":182},"470ff7c284c2",[779],{"_key":780,"_type":177,"marks":781,"text":180},"be536a52fcd3",[],[],{"_key":784,"_type":173,"children":785,"markDefs":790,"style":182},"0e60418a458c",[786],{"_key":787,"_type":177,"marks":788,"text":789},"9208ef6d5b27",[179],"Trading Outlook",[],{"_key":792,"_type":173,"children":793,"markDefs":797,"style":182},"d3d674a8db53",[794],{"_key":795,"_type":177,"marks":796,"text":180},"3d697db51300",[],[],{"_key":799,"_type":173,"children":800,"markDefs":805,"style":182},"d936674c7cc6",[801],{"_key":802,"_type":177,"marks":803,"text":804},"ab49735cdd5d",[],"In North America, activity levels are expected to increase steadily as new data centres and AI-driven hyper-scalers accelerate demand for energy and power.",[],{"_key":807,"_type":173,"children":808,"markDefs":812,"style":182},"94d05e72324e",[809],{"_key":810,"_type":177,"marks":811,"text":180},"556d096a1038",[],[],{"_key":814,"_type":173,"children":815,"markDefs":820,"style":182},"b8b8c8b4078b",[816],{"_key":817,"_type":177,"marks":818,"text":819},"17962132a646",[],"Across South America, onshore and offshore activity is projected to continue growing. Unconventional resource development in Argentina continues to accelerate, while new offshore projects in Brazil, Guyana and Suriname will require new FPSO builds and high-performance equipment, creating significant opportunities for Hunting’s enlarged Subsea offering.",[],{"_key":822,"_type":173,"children":823,"markDefs":827,"style":182},"7d89f618668e",[824],{"_key":825,"_type":177,"marks":826,"text":180},"006991f8297f",[],[],{"_key":829,"_type":173,"children":830,"markDefs":835,"style":182},"6f721e1d739c",[831],{"_key":832,"_type":177,"marks":833,"text":834},"dbf00a4f108d",[],"In West Africa, emerging opportunities in Angola and Namibia support continued growth in offshore\u002Fdeepwater activity beyond the end of the decade.",[],{"_key":837,"_type":173,"children":838,"markDefs":842,"style":182},"eb06a478edab",[839],{"_key":840,"_type":177,"marks":841,"text":180},"913afaf20a4d",[],[],{"_key":844,"_type":173,"children":845,"markDefs":850,"style":182},"6cccb98db574",[846],{"_key":847,"_type":177,"marks":848,"text":849},"41b7d1ee17a7",[],"In India, the Group expects good growth from its joint venture, in addition to its planned new facility on the east coast of India.",[],{"_key":852,"_type":173,"children":853,"markDefs":857,"style":182},"f1994df7e1bf",[854],{"_key":855,"_type":177,"marks":856,"text":180},"7ef1efd7cbda",[],[],{"_key":859,"_type":173,"children":860,"markDefs":865,"style":182},"d7896a68eb9e",[861],{"_key":862,"_type":177,"marks":863,"text":864},"b22d0ecbd1a6",[],"Across Asia Pacific, new drilling activity is expected to accelerate as operators seek to mitigate potential future supply disruptions such as those experienced during the reporting period.",[],{"_key":867,"_type":173,"children":868,"markDefs":872,"style":182},"5f830750ae55",[869],{"_key":870,"_type":177,"marks":871,"text":180},"8363a706c4ee",[],[],{"_key":874,"_type":173,"children":875,"markDefs":880,"style":182},"5e8bf70053a5",[876],{"_key":877,"_type":177,"marks":878,"text":879},"01ba2f28e5f2",[],"The Group previously highlighted the potential for near-term volatility in the Middle East due to the ongoing and evolving conflict and this remains the case. Linked to this, Kuwait Oil Company (“KOC”) has provided a verbal indication to all vendors that it will now re-run the OCTG tender process, which was originally issued in April 2026. An accelerated tender process is now expected to be re-issued during Q3 2026, with the result announced within a month of issuance. Any new contracts awarded will not be recognised until 2027. Hunting has a strong relationship with KOC that is built on more than six years of technical collaboration and supply-chain qualification. Therefore, the Directors continue to believe that Hunting remains well-placed to secure further orders from KOC and other tenders underway across the Middle East and Asia Pacific.",[],{"_key":882,"_type":173,"children":883,"markDefs":887,"style":182},"b0a0d713dead",[884],{"_key":885,"_type":177,"marks":886,"text":180},"48481a6233c2",[],[],{"_key":889,"_type":173,"children":890,"markDefs":895,"style":182},"7f0559e00c6b",[891],{"_key":892,"_type":177,"marks":893,"text":894},"9a342887f03b",[],"As previously guided, Hunting’s earnings profile for 2026 will be weighted towards the second half. The KOC tender process delay will have an impact of c.$10m on 2026 EBITDA, resulting in a revised 2026 EBITDA guidance range of $138-141m, slightly below previous guidance. 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Established in 1874, it is a listed public company, quoted on the London Stock Exchange in the Equity Shares in Commercial Companies (“ESCC”) category. The Company maintains a corporate office in Houston and is headquartered in London. As well as the United Kingdom, the Company has operations in China, India, Indonesia, Mexico, Saudi Arabia, Singapore, United Arab Emirates and the United States of America.",[],{"_key":1267,"_type":173,"children":1268,"markDefs":1272,"style":182},"1afe0c76cd04",[1269],{"_key":1270,"_type":177,"marks":1271,"text":180},"6bff07b041f4",[],[],{"_key":1274,"_type":173,"children":1275,"markDefs":1280,"style":182},"e1d7695462b0",[1276],{"_key":1277,"_type":177,"marks":1278,"text":1279},"236f4201cceb",[],"The Group reports in US dollars across five operating segments: Hunting Titan; North America; Subsea Technologies; Europe, Middle East and Africa (“EMEA”); and Asia Pacific.",[],{"_key":1282,"_type":173,"children":1283,"markDefs":1287,"style":182},"92f092b0cefb",[1284],{"_key":1285,"_type":177,"marks":1286,"text":180},"bd856e401e00",[],[],{"_key":1289,"_type":173,"children":1290,"markDefs":1295,"style":182},"ac60154fed01",[1291],{"_key":1292,"_type":177,"marks":1293,"text":1294},"755968ffaeba",[],"The Group also reports revenue and EBITDA financial metrics based on five product groups: OCTG; Perforating Systems; Subsea; Advanced Manufacturing; and Other Manufacturing.",[],{"_key":1297,"_type":173,"children":1298,"markDefs":1302,"style":182},"c896d46e4534",[1299],{"_key":1300,"_type":177,"marks":1301,"text":180},"ef019b5f5608",[],[],{"_key":1304,"_type":173,"children":1305,"markDefs":1310,"style":182},"63139b6b5375",[1306],{"_key":1307,"_type":177,"marks":1308,"text":1309},"eb0a72f62a11",[],"Hunting PLC’s Legal Entity Identifier is 2138008S5FL78ITZRN66.",[],{"_key":1312,"_type":173,"children":1313,"markDefs":1317,"style":182},"1b6b47f1f1af",[1314],{"_key":1315,"_type":177,"marks":1316,"text":180},"515db062aab2",[],[],{"_type":144,"showCTA":7},"2026-08-20T10:58:02.651Z",{"_type":9,"current":1321},"results-for-the-six-months-ended-30-june-2026","Results for the six months ended 30 June 2026","\u002Fnews\u002Fresults-for-the-six-months-ended-30-june-2026",{"_createdAt":1325,"_id":1326,"_rev":1327,"_system":1328,"_type":168,"_updatedAt":1331,"body":1332,"introText":1623,"publishedAt":1624,"slug":1625,"title":1627,"url":1628},"2026-07-14T15:18:54Z","28233cba-e9c2-46cb-a5b7-3675d23fa2db","DBMO57ZIr7O8zFikjHYRNF",{"base":1329},{"id":1326,"rev":1330},"wngrEGUvl3uMxYarjulXkP","2026-07-15T06:27:08Z",[1333,1341,1353,1360,1368,1376,1383,1390,1397,1404,1411,1418,1425,1436,1447,1455,1462,1472,1479,1486,1493,1503,1510,1517,1527,1534,1544,1551,1561,1569,1579,1587,1594,1602,1609,1616],{"_key":1334,"_type":173,"children":1335,"markDefs":1340,"style":182},"8c42e673fe47",[1336],{"_key":1337,"_type":177,"marks":1338,"text":1339},"50faa0945fa7",[179],"Highlights",[],{"_key":1342,"_type":173,"children":1343,"markDefs":1352,"style":182},"6dee3c57cc6e",[1344,1348],{"_key":1345,"_type":177,"marks":1346,"text":1347},"ac36739b5479",[216],"Operational ",{"_key":1349,"_type":177,"marks":1350,"text":1351},"aa191a2000d8",[],"\n\n• Solid Group performance during the period, with EBITDA in line with guidance. \n• Subsea performance underpinned by continued contract momentum in      Guyana, with $63.5 million of orders for the Group’s titanium stress joint product line secured during the period.\n• Perforating Systems’ results significantly ahead of management’s expectations driven by strong demand for Hunting’s unconventional well completion products internationally and market share gains across North America.\n• The Group’s OCTG, Advanced Manufacturing and Other Manufacturing product groups all report lower activity in H1 2026 due to order phasing, with higher performance projected in H2 2026.\n• Good progress with commercialisation of the Organic Oil Recovery (“OOR”) technology, with purchase orders received from a client in Pakistan, and positive well testing data in North America, Middle East and North Sea. Further progress expected to be reported in H2 2026.\n• Ongoing restructuring of EMEA operating segment with OCTG operations in Aberdeen now being transferred to the Badentoy operating site, with the Fordoun site to be closed by the end of the summer.\n• Period-end sales order book of c.$387 million, ahead of the 2025 year-end position of $358 million.",[],{"_key":1354,"_type":173,"children":1355,"markDefs":1359,"style":182},"09934c74be9a",[1356],{"_key":1357,"_type":177,"marks":1358,"text":180},"da7f00829a02",[],[],{"_key":1361,"_type":173,"children":1362,"markDefs":1367,"style":182},"94c260dcd285",[1363],{"_key":1364,"_type":177,"marks":1365,"text":1366},"88d78e497bdf",[216],"Financial",[],{"_key":1369,"_type":173,"children":1370,"markDefs":1375,"style":182},"59d81afeb831",[1371],{"_key":1372,"_type":177,"marks":1373,"text":1374},"4599fd1ca975",[],"\n• H1 2026 EBITDA of c.$62 million, consistent with the 40:60 phasing of full-year earnings guidance issued in March 2026.\n• H1 2026 EBITDA margin of c.12%, reflecting the continued rebalancing of the earnings profile of the Group towards higher growth segments of the global oil and gas market.\n• Working capital increased to c.$394 million at 30 June 2026, reflecting the operational ramp-up required to support higher anticipated activity levels in H2 2026.\n• Total cash and bank \u002F (borrowings) of c.$(19) million at 30 June 2026, reflects raw material purchases in the period and includes the following items:\no $10.1 million of dividend distributions;\no $32.6 million of share buybacks (ongoing) - $6.0m of second buyback completed in H1;\no $11.6 million from treasury share purchases; and\no $8.8 million on settlement of UK import duty provision.\n",[],{"_key":1377,"_type":173,"children":1378,"markDefs":1382,"style":182},"27bc046e30eb",[1379],{"_key":1364,"_type":177,"marks":1380,"text":1381},[216],"Outlook",[],{"_key":1384,"_type":173,"children":1385,"markDefs":1389,"style":182},"5125311b7276",[1386],{"_key":1364,"_type":177,"marks":1387,"text":1388},[],"\n• Group well positioned to navigate near-term oil price and market volatility.\n• Robust outlook for increases in activity in Asia Pacific, the Americas and the Middle East driven by AI driven power demand, oil and gas security of supply, and changes to OPEC.\n• 2026 full year EBITDA guidance of between $145-$155 million is maintained, with EBITDA margin guidance unchanged at c.13%-14%.\n• Projected year-end total cash and bank position is unchanged at c.$60-$65 million as working capital investments in H1 unwind.\n• $15 million p.a. of Group-wide cost savings on track for delivery between 2026 and 2027.",[],{"_key":1391,"_type":173,"children":1392,"markDefs":1396,"style":182},"e7dd6bd5fa2e",[1393],{"_key":1364,"_type":177,"marks":1394,"text":1395},[],"\nJim Johnson, Chief Executive of Hunting, commented:",[],{"_key":1398,"_type":173,"children":1399,"markDefs":1403,"style":182},"8fc7b0006014",[1400],{"_key":1364,"_type":177,"marks":1401,"text":1402},[],"\n\"Our H1 performance has seen continued strong momentum in our Subsea and Perforating Systems businesses supporting our unchanged full-year expectations as we continue the process of rebalancing our earnings profile towards the international unconventional, offshore and subsea segments of the global oil and gas market.",[],{"_key":1405,"_type":173,"children":1406,"markDefs":1410,"style":182},"4105da82959d",[1407],{"_key":1364,"_type":177,"marks":1408,"text":1409},[],"\nLooking ahead, although the conflict in the Middle East and resultant oil price dynamics may create near-term volatility, the rigorous execution of our strategy means we will benefit from longer-term, multi-year oil and gas expansion plans, as well as an increased focus on energy security and independence and AI driven power demand.",[],{"_key":1412,"_type":173,"children":1413,"markDefs":1417,"style":182},"a8fb06054e14",[1414],{"_key":1364,"_type":177,"marks":1415,"text":1416},[],"\nOur multiple product lines and global footprint provide the business with exceptional structural resilience and mean we are well positioned to continue to deliver growth and expand market share despite wider market uncertainty.",[],{"_key":1419,"_type":173,"children":1420,"markDefs":1424,"style":182},"82d84a938971",[1421],{"_key":1364,"_type":177,"marks":1422,"text":1423},[],"\nOverall, Hunting remains well-placed to achieve strong, long-term growth and increased shareholder returns.”",[],{"_key":1426,"_type":173,"children":1427,"markDefs":1435,"style":182},"8ab89016eea2",[1428,1431],{"_key":1364,"_type":177,"marks":1429,"text":1430},[],"\n",{"_key":1432,"_type":177,"marks":1433,"text":1434},"71a78d8c3331",[179],"Trading Update",[],{"_key":1437,"_type":173,"children":1438,"markDefs":1446,"style":182},"5f4ba5c79763",[1439,1442],{"_key":1440,"_type":177,"marks":1441,"text":1430},"482ba9ddad56",[],{"_key":1443,"_type":177,"marks":1444,"text":1445},"168ccf2ef5d1",[216],"Improved sales order book and tender pipeline",[],{"_key":1448,"_type":173,"children":1449,"markDefs":1454,"style":182},"fb3fe5aa870d",[1450],{"_key":1451,"_type":177,"marks":1452,"text":1453},"414af734d1af",[],"\nThe Group reports a period-end sales order book of c.$387 million, ahead of the 2025 year-end position of $358 million.",[],{"_key":1456,"_type":173,"children":1457,"markDefs":1461,"style":182},"2792b1d50570",[1458],{"_key":1451,"_type":177,"marks":1459,"text":1460},[],"\nThe Group’s tender pipeline remains robust at c.$1.0 billion.",[],{"_key":1463,"_type":173,"children":1464,"markDefs":1471,"style":182},"3508241b611f",[1465,1467],{"_key":1364,"_type":177,"marks":1466,"text":1430},[],{"_key":1468,"_type":177,"marks":1469,"text":1470},"045ca4067f41",[216],"Encouraging performance across the businesses",[],{"_key":1473,"_type":173,"children":1474,"markDefs":1478,"style":182},"78cc3fa3395c",[1475],{"_key":1364,"_type":177,"marks":1476,"text":1477},[],"\nDuring the period, the Group’s Perforating Systems and Subsea product groups have traded ahead of expectations, with particularly strong demand for Hunting’s unconventional well completion products being reported within both International and North America markets. The Subsea product group also saw strong demand for its couplings and valves and good progress on the Longtail and Hammerhead projects in Guyana.",[],{"_key":1480,"_type":173,"children":1481,"markDefs":1485,"style":182},"3c5099aac978",[1482],{"_key":1364,"_type":177,"marks":1483,"text":1484},[],"\nThe Group’s OCTG, Advanced Manufacturing and Other Manufacturing product groups reported lower activity in H1 2026 due to order phasing, with recovery projected in H2 2026.",[],{"_key":1487,"_type":173,"children":1488,"markDefs":1492,"style":182},"039805a7614d",[1489],{"_key":1364,"_type":177,"marks":1490,"text":1491},[],"\nOverall, the outlook for all product groups remains encouraging, as both energy-related and non-oil and gas end-markets continue to provide reassuring indications of strong growth out to the end of the decade.\nIn respect of the Group’s operating segments, the Hunting Titan operating segment traded ahead of expectations during the period, with the Subsea Technologies operating segment trading well, offsetting lower results being reported across the Group’s other operating segments.",[],{"_key":1494,"_type":173,"children":1495,"markDefs":1502,"style":182},"e038c2133a94",[1496,1498],{"_key":1364,"_type":177,"marks":1497,"text":1430},[],{"_key":1499,"_type":177,"marks":1500,"text":1501},"eb0ac3357152",[216],"Organic Oil Recovery",[],{"_key":1504,"_type":173,"children":1505,"markDefs":1509,"style":182},"9432dd305a59",[1506],{"_key":1364,"_type":177,"marks":1507,"text":1508},[],"\nHunting now has more than 30 active clients who are either sampling or field testing the OOR technology. Clients including Buccaneer Energy, in the US, PDO in Oman and UEPL and OGDCL in Pakistan, have progressed to commercial deployment of the technology.",[],{"_key":1511,"_type":173,"children":1512,"markDefs":1516,"style":182},"ef8abffa2c5e",[1513],{"_key":1364,"_type":177,"marks":1514,"text":1515},[],"\nTesting continues on a number of North Sea fields, with discussions underway about the next steps, and further progress to be reported in H2 2026.\nHunting continues to expect the business unit to generate revenue of c.$10-$15 million in 2026, supported by customers moving from smaller sampling projects to full-field injection programmes as the year progresses.\nManagement remains confident that it can grow into a $100 million per annum business by 2030.",[],{"_key":1518,"_type":173,"children":1519,"markDefs":1526,"style":182},"2d36beeeaf86",[1520,1522],{"_key":1364,"_type":177,"marks":1521,"text":1430},[],{"_key":1523,"_type":177,"marks":1524,"text":1525},"670e11b9ab51",[216],"2026 full year guidance",[],{"_key":1528,"_type":173,"children":1529,"markDefs":1533,"style":182},"119e6a5651e8",[1530],{"_key":1364,"_type":177,"marks":1531,"text":1532},[],"\nFull-year EBITDA guidance of c.$145-$155 million remains in line with market expectations. The year-end total cash and bank \u002F (borrowings) position is expected to be c.$60-$65 million.",[],{"_key":1535,"_type":173,"children":1536,"markDefs":1543,"style":182},"09932f07c676",[1537,1539],{"_key":1364,"_type":177,"marks":1538,"text":1430},[],{"_key":1540,"_type":177,"marks":1541,"text":1542},"b1d6ae8a014a",[216],"M&A activity",[],{"_key":1545,"_type":173,"children":1546,"markDefs":1550,"style":182},"ba92296b46a6",[1547],{"_key":1364,"_type":177,"marks":1548,"text":1549},[],"\nAs part of the Hunting 2030 Strategy, management continues to assess several bolt-on acquisitions, with a targeted pipeline of transactions under review during the period. Subsea and intelligent well completion businesses remain a particular area of focus for the Group.",[],{"_key":1552,"_type":173,"children":1553,"markDefs":1560,"style":182},"c261b24e991d",[1554,1556],{"_key":1364,"_type":177,"marks":1555,"text":1430},[],{"_key":1557,"_type":177,"marks":1558,"text":1559},"5b84e4765ce6",[179],"Chief Executive Search",[],{"_key":1562,"_type":173,"children":1563,"markDefs":1568,"style":182},"53a91438212c",[1564],{"_key":1565,"_type":177,"marks":1566,"text":1567},"0dc7bdca2b01",[],"\nFollowing the announcement on 1 June 2026, the Directors confirm that the Board has appointed an international search firm to assist in the appointment of a new Chief Executive. The process will consider internal and external candidates and will incorporate a global search given the international profile of Hunting’s operations and personnel.",[],{"_key":1570,"_type":173,"children":1571,"markDefs":1578,"style":182},"2faac51b9a71",[1572,1574],{"_key":1565,"_type":177,"marks":1573,"text":1430},[],{"_key":1575,"_type":177,"marks":1576,"text":1577},"3e48b934c2e0",[179],"External Audit Tender",[],{"_key":1580,"_type":173,"children":1581,"markDefs":1586,"style":182},"f59e5c35a6df",[1582],{"_key":1583,"_type":177,"marks":1584,"text":1585},"64738084d1b2",[],"During H1 2026, the Company completed a competitive tender process for its external auditor overseen by its Audit and Risk Committee, which carefully evaluated the offering of each participant. This has resulted in a recommendation from the Audit and Risk Committee, which has now been endorsed by the Directors, that a resolution be put to shareholders for approval at the 2027 Annual General Meeting to appoint KPMG LLP as external auditor of the Company and its subsidiaries for the year ending 31 December 2027.",[],{"_key":1588,"_type":173,"children":1589,"markDefs":1593,"style":182},"c182395c07d2",[1590],{"_key":1583,"_type":177,"marks":1591,"text":1592},[],"\nDeloitte LLP will continue in their current role and will undertake the audit for the year ending 31 December 2026. Deloitte LLP will cease to hold office as the external auditor of the Company at the conclusion of the Company's 2027 AGM, subject to approval by shareholders of the appointment of KPMG LLP.\n",[],{"_key":1595,"_type":173,"children":1596,"markDefs":1601,"style":182},"c6d408b5bd81",[1597],{"_key":1598,"_type":177,"marks":1599,"text":1600},"2a930f3c9315",[179],"2026 Half Year Results",[],{"_key":1603,"_type":173,"children":1604,"markDefs":1608,"style":182},"ec409099ce18",[1605],{"_key":1598,"_type":177,"marks":1606,"text":1607},[],"\nHunting PLC will announce its 2026 half year results on Friday 21 August 2026.",[],{"_key":1610,"_type":173,"children":1611,"markDefs":1615,"style":182},"ace3699255c4",[1612],{"_key":1613,"_type":177,"marks":1614,"text":180},"93b09ebe664b",[],[],{"_key":1617,"_type":173,"children":1618,"markDefs":1622,"style":182},"776a0d37d6a6",[1619],{"_key":1620,"_type":177,"marks":1621,"text":180},"66662b2adc4a",[],[],"Hunting PLC (LSE: HTG), the precision engineering group, today publishes its H1 2026 Trading Update.","2026-07-14T15:17:20.802Z",{"_type":9,"current":1626},"h1-2026-trading-update","H1 2026 Trading Update","\u002Fnews\u002Fh1-2026-trading-update",{"_createdAt":1630,"_id":1631,"_rev":1327,"_type":168,"_updatedAt":1632,"body":1633,"introText":1691,"publishedAt":1692,"slug":1693,"title":499,"url":1695},"2026-06-01T09:53:28Z","1a56bb5f-d300-438f-9132-b665db4f9cbf","2026-06-01T09:57:34Z",[1634,1642,1649,1656,1663,1670,1677,1684],{"_key":1635,"_type":173,"children":1636,"markDefs":1641,"style":182},"12f31678651d",[1637],{"_key":1638,"_type":177,"marks":1639,"text":1640},"5e5346e0da5a",[],"As part of the long-term succession plans of the Company, the Nomination Committee has initiated a process to appoint a successor to Mr Johnson, which will give consideration to both internal and external candidates that can lead Hunting through the next phase of its growth.",[],{"_key":1643,"_type":173,"children":1644,"markDefs":1648,"style":182},"c0bc8ee970fa",[1645],{"_key":1638,"_type":177,"marks":1646,"text":1647},[],"\nMr Johnson has held senior management positions within Hunting from 1992 up to his appointment as Chief Operating Officer of the Group in 2011. He was appointed as Chief Executive in 2017 and has guided Hunting through a period of significant development as the Group looks to deliver on the Hunting 2030 Strategy announced in 2023.",[],{"_key":1650,"_type":173,"children":1651,"markDefs":1655,"style":182},"f47c1ae5c168",[1652],{"_key":1638,"_type":177,"marks":1653,"text":1654},[],"\nFurther updates on the search process will be provided in due course.\nCommenting on Jim Johnson’s retirement, Stuart M. Brightman, Hunting’s Company Chair said:",[],{"_key":1657,"_type":173,"children":1658,"markDefs":1662,"style":182},"bcf76d662711",[1659],{"_key":1638,"_type":177,"marks":1660,"text":1661},[],"\n“Jim’s long tenure at Hunting is testament to the strong culture of the organisation. His leadership of the Company since his appointment as Chief Executive in 2017 has been exceptional and I want to place on record my heartfelt thanks for all his hard work on behalf of the wider Hunting team.",[],{"_key":1664,"_type":173,"children":1665,"markDefs":1669,"style":182},"24291aa86d71",[1666],{"_key":1638,"_type":177,"marks":1667,"text":1668},[],"\nHaving successfully led the repositioning of the Group since 2020, particularly in relation to our subsea and offshore businesses, Jim will leave the Company in a strong position to capitalise on future energy and power demand and I look forward to continuing to work with him over the coming months to ensure an orderly hand over to his successor in due course.\"\n",[],{"_key":1671,"_type":173,"children":1672,"markDefs":1676,"style":182},"c3037fa59df9",[1673],{"_key":1638,"_type":177,"marks":1674,"text":1675},[],"Jim Johnson, Chief Executive added:",[],{"_key":1678,"_type":173,"children":1679,"markDefs":1683,"style":182},"6c3e0299194a",[1680],{"_key":1638,"_type":177,"marks":1681,"text":1682},[],"\n“It has been a huge privilege to play a part in the Hunting story and to have led the business over the last nine years. I am very proud of how Hunting has navigated a period of almost unprecedented change to emerge as one of the leading businesses in our sector and would like to thank all of my Hunting colleagues for their hard work, dedication and commitment in making the business what it is today. I look forward to working with the Board and my eventual successor in the months ahead.”",[],{"_key":1685,"_type":173,"children":1686,"markDefs":1690,"style":182},"4fbfe19cd18c",[1687],{"_key":1638,"_type":177,"marks":1688,"text":1689},[],"\nThe person responsible for arranging the release of this announcement on behalf of the Company is Ben Willey, Company Secretary.",[],"Hunting PLC (LSE: HTG), the precision engineering group, today announces that Jim Johnson, Chief Executive, has given notice of his intention to retire as a Director of the Company by mid-2027.","2026-06-01T06:00:00.000Z",{"_type":9,"current":1694},"retirement-of-chief-executive","\u002Fnews\u002Fretirement-of-chief-executive",{"_createdAt":1697,"_id":1698,"_rev":112,"_system":1699,"_type":168,"_updatedAt":116,"body":1702,"categories":1710,"content":1714,"introText":1863,"publishedAt":1864,"slug":1865,"tags":1867,"title":1868,"url":1869},"2026-05-20T23:59:11Z","15aba24d-9fbc-4072-ba4b-b47fc04ec9ca",{"base":1700},{"id":1698,"rev":1701},"2m6L0sQfPY4xqiZQVRsCPT",[1703],{"_key":1704,"_type":173,"children":1705,"markDefs":1709,"style":182},"c8b92a2cde61",[1706],{"_key":1707,"_type":177,"marks":1708,"text":180},"1cdbbbb19dc60",[],[],[1711],{"_key":1712,"_ref":1713,"_type":141},"a919fdaf5a10","c035745a-9f57-4062-b35f-bdd73b11aaa4",[1715,1722],{"_key":1716,"_type":1717,"cta":1718,"image":1719},"66c67ede64cc","fullscreenImage",{"_type":144,"showCTA":7},{"_type":146,"asset":1720},{"_ref":1721,"_type":141},"image-7e99865edb7270a74d237dd8287fbf55a289d625-5001x2613-png",{"_key":1723,"_type":193,"body":1724,"cta":1861,"introText":1862},"2d7ee1aaeae0",[1725,1744,1752,1760,1768,1776,1789,1797,1805,1813,1821,1838,1846,1854],{"_key":1726,"_type":173,"children":1727,"markDefs":1741,"style":182},"1bd909619a6a",[1728,1732,1737],{"_key":1729,"_type":177,"marks":1730,"text":1731},"a09e2b5d2cd2",[],"Hunting announces a global license and distribution agreement with ",{"_key":1733,"_type":177,"marks":1734,"text":1736},"9f97664eb08c",[1735],"a22cc7b60ce6","Tenax Energy Solutions",{"_key":1738,"_type":177,"marks":1739,"text":1740},"ddee708f82b9",[]," for the patented HydraShock™ and HydraCut™ technologies, expanding Hunting’s Opti-TEK™ well intervention portfolio with specialized downhole recovery and severance systems engineered to improve coiled tubing recovery operations in complex intervention environments.",[1742],{"_key":1735,"_type":138,"href":1743},"https:\u002F\u002Fwww.tenaxenergy.com?utm_source=chatgpt.com",{"_key":1745,"_type":173,"children":1746,"markDefs":1751,"style":182},"4a3917d0cc68",[1747],{"_key":1748,"_type":177,"marks":1749,"text":1750},"dfbb24bab247",[],"Coiled tubing recovery challenges remain among the most operationally disruptive and costly issues encountered during well intervention, often resulting in extended non-productive time, increased recovery complexity, costly fishing operations, and premature tubing abandonment. The addition of HydraShock™ and HydraCut™ strengthens Hunting’s intervention offering with technologies specifically developed to address high-risk pipe-recovery scenarios while supporting safer, more controlled intervention execution.",[],{"_key":1753,"_type":173,"children":1754,"markDefs":1759,"style":182},"299089a6e8ae",[1755],{"_key":1756,"_type":177,"marks":1757,"text":1758},"51a3108be2cf",[],"HydraShock™ is designed to help free restricted coiled tubing and bottom hole assemblies by generating controlled downhole shock events directly at the restriction point. The system is capable of delivering multiple jarring cycles during a single intervention run, reducing reliance on more invasive recovery methods and helping operators avoid costly tubing losses, extended intervention time, and additional recovery operations.",[],{"_key":1761,"_type":173,"children":1762,"markDefs":1767,"style":182},"50c072502235",[1763],{"_key":1764,"_type":177,"marks":1765,"text":1766},"22bf3c0242c2",[],"HydraCut™ complements the recovery system by enabling through-reel-valve severance of coiled tubing near the restriction point, allowing operators to perform controlled downhole cuts without severing tubing above the injector. This approach reduces surface handling exposure during recovery operations, improves operational safety, and increases the likelihood of recovering substantial lengths of valuable coiled tubing and bottom hole assembly components.",[],{"_key":1769,"_type":173,"children":1770,"markDefs":1775,"style":182},"cc426aaccc7e",[1771],{"_key":1772,"_type":177,"marks":1773,"text":1774},"5789919bcb45",[],"Together, the technologies provide operators with an integrated recovery solution designed to simplify complex downhole recovery operations, reduce operational exposure, and improve recovery efficiency during critical intervention activity.",[],{"_key":1777,"_type":173,"children":1778,"markDefs":1787,"style":182},"9441faede6f1",[1779,1783],{"_key":1780,"_type":177,"marks":1781,"text":1736},"7bf5e075b60e",[1782],"67b56a3d7b8b",{"_key":1784,"_type":177,"marks":1785,"text":1786},"8e3cf1cf0573",[]," develops specialized intervention technologies to solve complex field challenges through application-driven engineering and practical operational design.",[1788],{"_key":1782,"_type":138,"href":1743},{"_key":1790,"_type":173,"children":1791,"markDefs":1796,"style":182},"0a0bbb65a626",[1792],{"_key":1793,"_type":177,"marks":1794,"text":1795},"1cd7050d9203",[],"The HydraShock™ and HydraCut™ systems are recognized for providing straightforward, field-deployable solutions across high-risk coiled tubing recovery environments. The technologies have supported recovery operations across multiple North American intervention programs.",[],{"_key":1798,"_type":173,"children":1799,"markDefs":1804,"style":182},"5e7322bc9654",[1800],{"_key":1801,"_type":177,"marks":1802,"text":1803},"22a156f78937",[],"As intervention programs increase in technical complexity, operators remain focused on technologies that improve execution efficiency, reduce intervention exposure, and support more efficient recovery activity across challenging well environments. Integrating HydraShock™ and HydraCut™ into the Opti-TEK™ portfolio further strengthens Hunting’s position in the global well intervention market by expanding access to differentiated intervention technologies designed to reduce downtime, lower operational risk, and support more efficient recovery operations across international intervention programs.",[],{"_key":1806,"_type":173,"children":1807,"markDefs":1812,"style":182},"44afa7dfc6d1",[1808],{"_key":1809,"_type":177,"marks":1810,"text":1811},"755f885a3e6b",[],"Allan Gill, Product Line Director for Well Intervention at Hunting PLC, commented:",[],{"_key":1814,"_type":173,"children":1815,"markDefs":1820,"style":182},"d887b443c2e7",[1816],{"_key":1817,"_type":177,"marks":1818,"text":1819},"78a333109385",[],"“Intervention programs continue moving into increasingly demanding operating environments where recovery efficiency, operational control, and risk reduction are critical to success. HydraShock™ and HydraCut™ provide differentiated solutions for some of the most challenging coiled tubing recovery scenarios encountered in the field today. The addition of these field proven technologies to the Opti-TEK™ portfolio further strengthens Hunting’s global intervention offering and expands our ability to deliver high-value solutions that improve performance, reduce non-productive time, and support more efficient recovery activity.”",[],{"_key":1822,"_type":173,"children":1823,"markDefs":1836,"style":182},"b1090a5cf60c",[1824,1828,1832],{"_key":1825,"_type":177,"marks":1826,"text":1827},"10d1031f6c4a",[],"Kevin Jones, CEO\u002FFounder of ",{"_key":1829,"_type":177,"marks":1830,"text":1736},"505d02c39d25",[1831],"c329e3065b74",{"_key":1833,"_type":177,"marks":1834,"text":1835},"a7a17177163f",[],", commented:",[1837],{"_key":1831,"_type":138,"href":1743},{"_key":1839,"_type":173,"children":1840,"markDefs":1845,"style":182},"194f1a8f33c4",[1841],{"_key":1842,"_type":177,"marks":1843,"text":1844},"3f1befa2135b",[],"“Tenax Energy Solutions LLC is pleased to announce a global license agreement with Hunting PLC for its patented HydraShock™ and HydraCut™ technologies. This strategic partnership enables Hunting to manufacture, market, and deploy these innovative downhole tools worldwide, providing operators with proven solutions for stuck pipe remediation and safe coiled tubing operations.”",[],{"_key":1847,"_type":173,"children":1848,"markDefs":1853,"style":182},"f0712c9bb85e",[1849],{"_key":1850,"_type":177,"marks":1851,"text":1852},"a017e20271e5",[],"The expanded Opti-TEK™ portfolio is supported through Hunting’s global intervention infrastructure and field service network, providing operators worldwide with access to specialized coiled tubing recovery technologies designed to improve execution efficiency across complex intervention environments.",[],{"_key":1855,"_type":173,"children":1856,"markDefs":1860,"style":182},"94f61eb80b01",[1857],{"_key":1858,"_type":177,"marks":1859,"text":180},"9222996446cd",[],[],{"_type":144,"showCTA":7},"Advanced coiled tubing recovery and severance technologies designed to reduce intervention risk, minimize non-productive time, and improve downhole recovery operations","Press Release","2026-05-21T21:53:00.000Z",{"_type":9,"current":1866},"hunting-plc-expands-opti-tek-tm-portfolio-with-hydrashock-tm-and-hydracut-tm-coiled-tubing",[],"Hunting Expands Opti-TEK™ Portfolio with HydraShock™ and HydraCut™ Coiled Tubing Recovery Technologies","\u002Fnews\u002Fhunting-plc-expands-opti-tek-tm-portfolio-with-hydrashock-tm-and-hydracut-tm-coiled-tubing",{"_createdAt":1871,"_id":1872,"_rev":112,"_system":1873,"_type":168,"_updatedAt":116,"body":1876,"categories":1882,"content":1884,"introText":1863,"publishedAt":1946,"slug":1947,"tags":1949,"title":1950,"url":1951},"2026-05-14T05:49:52Z","4c540525-9830-4bd5-9fb0-ad3a91dde2cd",{"base":1874},{"id":1872,"rev":1875},"terAQHgze15RtLO7XJ378l",[1877],{"_key":1704,"_type":173,"children":1878,"markDefs":1881,"style":182},[1879],{"_key":1707,"_type":177,"marks":1880,"text":180},[],[],[1883],{"_key":1712,"_ref":1713,"_type":141},[1885,1892],{"_key":1886,"_type":1717,"cta":1887,"image":1888},"965d8e881eb6",{"_type":144,"showCTA":7},{"_type":146,"alt":1889,"asset":1890},"Rendering of Hyper Lock ",{"_ref":1891,"_type":141},"image-853d809e3bef552287a9306c060734488ab9c05d-1200x627-png",{"_key":1723,"_type":193,"body":1893,"cta":1944,"introText":1945},[1894,1902,1909,1916,1923,1930,1937],{"_key":1895,"_type":173,"children":1896,"markDefs":1901,"style":182},"22a638ec6385",[1897],{"_key":1898,"_type":177,"marks":1899,"text":1900},"bdadd2c636f1",[],"HYPER-LOCK™ HELIX2 (HLH2), a semi-premium threaded-and-coupled (T&C) connection designed to improve running performance and shorten installation time in extended-reach drilling applications. ",[],{"_key":1903,"_type":173,"children":1904,"markDefs":1908,"style":182},"4c3c34f0cefd",[1905],{"_key":1898,"_type":177,"marks":1906,"text":1907},[],"As lateral lengths increase, achieving a balance between operational performance and cost effectiveness becomes increasingly challenging. Variability in field operations and increasing demands on connection performance can impact running efficiency and reduce execution control in extended reach wells. ",[],{"_key":1910,"_type":173,"children":1911,"markDefs":1915,"style":182},"d76410a789fd",[1912],{"_key":1898,"_type":177,"marks":1913,"text":1914},[],"HYPER-LOCK™ HELIX2 addresses this challenge with a proprietary thread form engineered to deliver faster connection makeup while maintaining the connection integrity required for demanding extended reach wells. Compared with conventional semi-premium buttress-style connections commonly used in these applications, the innovative design achieves full engagement in fewer turns, enabling complete makeup in nearly half the time. This improves installation efficiency while helping reduce overall operating costs. ",[],{"_key":1917,"_type":173,"children":1918,"markDefs":1922,"style":182},"0848f4af2d70",[1919],{"_key":1898,"_type":177,"marks":1920,"text":1921},[],"Travis Kelley, General Manager of Hunting’s Connection Technology group, commented: ",[],{"_key":1924,"_type":173,"children":1925,"markDefs":1929,"style":182},"710f674b9a74",[1926],{"_key":1898,"_type":177,"marks":1927,"text":1928},[],"“In today’s extended-reach wells, connection performance is more critical than ever. Increasing well complexity is driving higher operational and commercial expectations, making continuous innovation essential. Operators require connection performance that improves running efficiency without compromising reliability. HYPER-LOCK™ HELIX2 was engineered to do exactly that by dramatically reducing installation time while delivering consistent execution across the full length of the well, helping operators achieve both technical and commercial objectives.” ",[],{"_key":1931,"_type":173,"children":1932,"markDefs":1936,"style":182},"ef6c39ee2618",[1933],{"_key":1898,"_type":177,"marks":1934,"text":1935},[],"The connection maintains predictable performance under demanding conditions while helping reduce rig time. Consistent with Hunting’s standard product development process, initial testing to validate key performance properties has been completed, with additional full-scale validation testing currently underway to satisfy various industry and end-user-specific protocols. ",[],{"_key":1938,"_type":173,"children":1939,"markDefs":1943,"style":182},"2b549efe60a4",[1940],{"_key":1898,"_type":177,"marks":1941,"text":1942},[],"HYPER-LOCK™ HELIX2 expands Hunting’s Connection Technology portfolio within the semi-premium segment, where cost discipline and operational demands define the next generation of connection requirements. The launch reinforces Hunting’s strategy to deliver connection solutions across a full range of well designs, from standard applications to the most complex and challenging environments.",[],{"_type":144,"showCTA":7},"Semi-premium connection engineered to improve running performance in extended-reach wells.","2026-05-14T21:53:00.000Z",{"_type":9,"current":1948},"hunting-introduces-hyper-lock-tm-helix2-for-faster-makeup-in-extended-reach-wells",[],"Hunting Introduces HYPER-LOCK™ HELIX2 for Faster Makeup in Extended Reach Wells ","\u002Fnews\u002Fhunting-introduces-hyper-lock-tm-helix2-for-faster-makeup-in-extended-reach-wells",{"_createdAt":1953,"_id":1954,"_rev":1955,"_type":168,"_updatedAt":1956,"body":1957,"introText":2273,"publishedAt":2274,"slug":2275,"title":2277,"url":2278},"2026-04-07T13:21:19Z","c815c9b6-f8e3-4ac8-8f60-94c40e674fcd","Sy3FFEkt4VKop7rT0EI05G","2026-04-15T05:57:42Z",[1958,1966,1973,1981,1988,1996,2003,2011,2018,2026,2033,2041,2048,2056,2063,2071,2078,2086,2093,2101,2108,2116,2123,2131,2138,2146,2153,2160,2168,2175,2183,2190,2198,2205,2213,2220,2228,2235,2243,2250,2258,2265],{"_key":1959,"_type":173,"children":1960,"markDefs":1965,"style":182},"900a11c07f56",[1961],{"_key":1962,"_type":177,"marks":1963,"text":1964},"addb07c85b1e",[179],"Commenting on the Company’s Q1 2026 performance and full-year outlook, Chief Executive Jim Johnson, said:",[],{"_key":1967,"_type":173,"children":1968,"markDefs":1972,"style":182},"a79f95d103d9",[1969],{"_key":1970,"_type":177,"marks":1971,"text":180},"b038ae883cf7",[],[],{"_key":1974,"_type":173,"children":1975,"markDefs":1980,"style":182},"4d72b131f398",[1976],{"_key":1977,"_type":177,"marks":1978,"text":1979},"c8a1de69463c",[216],"“Hunting has delivered a solid Q1 performance, and we are maintaining our full-year EBITDA guidance of $145-$155 million given the strong outlook for our end markets.",[],{"_key":1982,"_type":173,"children":1983,"markDefs":1987,"style":182},"e7a0f161014c",[1984],{"_key":1985,"_type":177,"marks":1986,"text":180},"bad3d96ad63b",[],[],{"_key":1989,"_type":173,"children":1990,"markDefs":1995,"style":182},"b35c78318c3e",[1991],{"_key":1992,"_type":177,"marks":1993,"text":1994},"2141fd14c6d4",[216],"“We remain vigilant regarding Middle East volatility, with our people remaining safe and our facilities fully operational.",[],{"_key":1997,"_type":173,"children":1998,"markDefs":2002,"style":182},"dbae12820a5d",[1999],{"_key":2000,"_type":177,"marks":2001,"text":180},"a061a3ba93e4",[],[],{"_key":2004,"_type":173,"children":2005,"markDefs":2010,"style":182},"11bfecf0f55a",[2006],{"_key":2007,"_type":177,"marks":2008,"text":2009},"23642c610393",[216],"“We are seeing excellent order book momentum across South America and the US onshore market. By restructuring our global operations and continuing our share buyback programme, we are positioning Hunting for robust, long-term growth and enhanced shareholder returns.”",[],{"_key":2012,"_type":173,"children":2013,"markDefs":2017,"style":182},"e3542ed597f9",[2014],{"_key":2015,"_type":177,"marks":2016,"text":180},"424a0fe269dc",[],[],{"_key":2019,"_type":173,"children":2020,"markDefs":2025,"style":182},"2a151463d5aa",[2021],{"_key":2022,"_type":177,"marks":2023,"text":2024},"e029de7a2d3f",[179],"Q1 2026 trading update",[],{"_key":2027,"_type":173,"children":2028,"markDefs":2032,"style":182},"f2f441cb5e44",[2029],{"_key":2030,"_type":177,"marks":2031,"text":180},"fbcc467a4487",[],[],{"_key":2034,"_type":173,"children":2035,"markDefs":2040,"style":182},"201e7801037f",[2036],{"_key":2037,"_type":177,"marks":2038,"text":2039},"970e2b0d4f8e",[],"The Group performed in line with expectations during the quarter, with Q1 trading reflecting the timing of key milestones on current subsea contracts, which are weighted to Q2. Given this performance, Hunting’s full-year EBITDA guidance of between $145-$155 million is retained. As outlined at the Group’s 2025 full-year results in March 2026, Hunting’s earnings will be second half weighted, given order execution and delivery timings, with a 40:60 split in earnings being projected.",[],{"_key":2042,"_type":173,"children":2043,"markDefs":2047,"style":182},"ed4640d6ddcb",[2044],{"_key":2045,"_type":177,"marks":2046,"text":180},"edb44b63ad51",[],[],{"_key":2049,"_type":173,"children":2050,"markDefs":2055,"style":182},"9d0e32add903",[2051],{"_key":2052,"_type":177,"marks":2053,"text":2054},"285255eeda0c",[],"Q1 2026 Group EBITDA was $23.2 million, with an EBITDA margin of 10%. All product groups have traded as expected, with Perforating Systems’ sales in North America reporting a performance ahead of expectations as higher quality sales and production efficiencies continue to improve trading results.",[],{"_key":2057,"_type":173,"children":2058,"markDefs":2062,"style":182},"ab7ab729f1a2",[2059],{"_key":2060,"_type":177,"marks":2061,"text":180},"1f7f4dc3e0d7",[],[],{"_key":2064,"_type":173,"children":2065,"markDefs":2070,"style":182},"45ca7ad6a6f3",[2066],{"_key":2067,"_type":177,"marks":2068,"text":2069},"3528bdb8fb42",[],"As is typical for this time of year, the Group has invested in working capital in the period to satisfy committed orders, which has led to a net cash outflow in the quarter and, coupled with the ongoing share buyback programme, has led to a quarter-end total cash and bank \u002F (borrowings) position of $8.3 million (31 December 2025 – $62.9 million).",[],{"_key":2072,"_type":173,"children":2073,"markDefs":2077,"style":182},"086212310dd0",[2074],{"_key":2075,"_type":177,"marks":2076,"text":180},"853f1f6bddd4",[],[],{"_key":2079,"_type":173,"children":2080,"markDefs":2085,"style":182},"b01b1a16ea3d",[2081],{"_key":2082,"_type":177,"marks":2083,"text":2084},"b7d68fdfc9d0",[179],"Sales order book",[],{"_key":2087,"_type":173,"children":2088,"markDefs":2092,"style":182},"54d35af0b44b",[2089],{"_key":2090,"_type":177,"marks":2091,"text":180},"9e71b47b79a8",[],[],{"_key":2094,"_type":173,"children":2095,"markDefs":2100,"style":182},"3bda69a1cebf",[2096],{"_key":2097,"_type":177,"marks":2098,"text":2099},"c3962ccf633c",[],"As at 14 April 2026, the Group’s sales order book stood at c.$428.8 million (31 March 2026 – $365.3 million; 31 December 2025 – $358.0 million).",[],{"_key":2102,"_type":173,"children":2103,"markDefs":2107,"style":182},"17563b02c89f",[2104],{"_key":2105,"_type":177,"marks":2106,"text":180},"b0b249d0d29c",[],[],{"_key":2109,"_type":173,"children":2110,"markDefs":2115,"style":182},"d6f6f5ea7b03",[2111],{"_key":2112,"_type":177,"marks":2113,"text":2114},"c144c44c30c4",[],"OCTG tender activity continues to be strong across most regions, with the pipeline still standing at c.$1.0 billion. Some slippage in the issuance of tenders has occurred in the Middle East since March 2026; however, management still anticipates that these will be published in Q2 2026.",[],{"_key":2117,"_type":173,"children":2118,"markDefs":2122,"style":182},"7a0cac066a0f",[2119],{"_key":2120,"_type":177,"marks":2121,"text":180},"568741917469",[],[],{"_key":2124,"_type":173,"children":2125,"markDefs":2130,"style":182},"c1b12314610f",[2126],{"_key":2127,"_type":177,"marks":2128,"text":2129},"d6948d73352d",[],"Since the year-end, the Group has continued to build its Subsea sales order book, including the $63.5 million of orders secured for its titanium stress joints for its latest project in Guyana as announced on 7 April 2026. Momentum within the Spring, Stafford and Flexible Engineered Solutions businesses has increased since the beginning of the year as offshore and subsea projects continue to be executed.",[],{"_key":2132,"_type":173,"children":2133,"markDefs":2137,"style":182},"4690c8f49002",[2134],{"_key":2135,"_type":177,"marks":2136,"text":180},"b95b9100e8e6",[],[],{"_key":2139,"_type":173,"children":2140,"markDefs":2145,"style":182},"1588fff10d76",[2141],{"_key":2142,"_type":177,"marks":2143,"text":2144},"c534bf67b9a4",[],"Hunting continues to focus its Advanced Manufacturing business units on developing non-oil and gas sales. At 31 March 2026, the non-energy sales order book stood at $95.6 million (31 December 2025 – $98.6 million). Management is expanding its sales efforts to target high-specification industrial programmes with repeat demand characteristics. Clients include Teledyne Brown Engineering, Solar Turbines, Pratt & Whitney, Sikorsky, and General Electric, which support applications across power generation, aerospace, and defence platforms. These programmes are supported by multi-year production schedules, with defined manufacturing runs and repeat order patterns that extend delivery across multiple reporting periods and, in certain cases, provide programme visibility extending through 2028 and beyond.",[],{"_key":2147,"_type":173,"children":2148,"markDefs":2152,"style":182},"3ca01fae8215",[2149],{"_key":2150,"_type":177,"marks":2151,"text":180},"591bffccbc73",[],[],{"_key":2154,"_type":173,"children":2155,"markDefs":2159,"style":182},"c9f0eaa984f7",[2156],{"_key":2157,"_type":177,"marks":2158,"text":180},"2193e829da07",[],[],{"_key":2161,"_type":173,"children":2162,"markDefs":2167,"style":182},"87448048239d",[2163],{"_key":2164,"_type":177,"marks":2165,"text":2166},"5430c8a9e5ef",[179],"Middle East update",[],{"_key":2169,"_type":173,"children":2170,"markDefs":2174,"style":182},"0651ed8b7380",[2171],{"_key":2172,"_type":177,"marks":2173,"text":180},"d2cebbb3d750",[],[],{"_key":2176,"_type":173,"children":2177,"markDefs":2182,"style":182},"494fa6548203",[2178],{"_key":2179,"_type":177,"marks":2180,"text":2181},"1a1fb1ccf31c",[],"Hunting’s operations and personnel in Dubai and Saudi Arabia remain safe and generally unaffected by the Middle East conflict. At this point management expects minimal impact on current year profitability, although this position remains predicated on the tenure of the conflict. The higher commodity price environment has not yet translated into an increased US or International rig count as operators adopt a ‘wait and see’ approach. However, Hunting is well placed to benefit from any increase in activity.",[],{"_key":2184,"_type":173,"children":2185,"markDefs":2189,"style":182},"3288fddc3e42",[2186],{"_key":2187,"_type":177,"marks":2188,"text":180},"88760ffd5cbc",[],[],{"_key":2191,"_type":173,"children":2192,"markDefs":2197,"style":182},"b83eef2388bd",[2193],{"_key":2194,"_type":177,"marks":2195,"text":2196},"007ffe82580f",[179],"Restructuring, operational efficiency and M&A",[],{"_key":2199,"_type":173,"children":2200,"markDefs":2204,"style":182},"a6240712435c",[2201],{"_key":2202,"_type":177,"marks":2203,"text":180},"ea61e2f24c4d",[],[],{"_key":2206,"_type":173,"children":2207,"markDefs":2212,"style":182},"741808d86db4",[2208],{"_key":2209,"_type":177,"marks":2210,"text":2211},"5ae04c09fe7e",[],"The restructuring of the EMEA operating segment continues, with the closure of the Fordoun operating site on track for June 2026.",[],{"_key":2214,"_type":173,"children":2215,"markDefs":2219,"style":182},"b7f3a9393fb2",[2216],{"_key":2217,"_type":177,"marks":2218,"text":180},"88075008fc1b",[],[],{"_key":2221,"_type":173,"children":2222,"markDefs":2227,"style":182},"773b46351df9",[2223],{"_key":2224,"_type":177,"marks":2225,"text":2226},"103f6d52cf01",[],"The previously announced $15 million cost reduction programme is accelerating, with the majority of savings to be delivered by early 2028. Shared service functions in Europe and North America will be fully operational by mid-2026, which will drive further cost and operating efficiencies, along with the efforts to reduce other SG&A costs.",[],{"_key":2229,"_type":173,"children":2230,"markDefs":2234,"style":182},"319ea3b6e376",[2231],{"_key":2232,"_type":177,"marks":2233,"text":180},"30be4b35de11",[],[],{"_key":2236,"_type":173,"children":2237,"markDefs":2242,"style":182},"8d21738e47a0",[2238],{"_key":2239,"_type":177,"marks":2240,"text":2241},"0b4245f7f77c",[],"The Group today announces the combination of the EMEA and Asia Pacific operating segments to form a single ‘International’ operating segment with effect from 1 January 2027, which will contribute to further cost efficiencies over time.",[],{"_key":2244,"_type":173,"children":2245,"markDefs":2249,"style":182},"e9c7612f39bd",[2246],{"_key":2247,"_type":177,"marks":2248,"text":180},"314e78ff4e83",[],[],{"_key":2251,"_type":173,"children":2252,"markDefs":2257,"style":182},"84baf54498dc",[2253],{"_key":2254,"_type":177,"marks":2255,"text":2256},"4b667194fc91",[],"In line with the Hunting 2030 Strategy, management continues to assess bolt-on acquisitions, with a targeted pipeline of transactions under review during the period. Subsea businesses remain a particular area of focus for the Group.",[],{"_key":2259,"_type":173,"children":2260,"markDefs":2264,"style":182},"a3b305e7e1b2",[2261],{"_key":2262,"_type":177,"marks":2263,"text":180},"29e77a57794c",[],[],{"_key":2266,"_type":173,"children":2267,"markDefs":2272,"style":182},"93e7c4bba4bf",[2268],{"_key":2269,"_type":177,"marks":2270,"text":2271},"05bf59d5ad7c",[],"The H1 2026 Trading Update will be issued on Wednesday 15 July 2026.",[],"Hunting PLC (LSE: HTG), the precision engineering group, issues the following Trading Update for Q1 2026, ahead of its Annual General Meeting that will take place today at 10:30 a.m. BST in London.","2026-04-15T06:01:00.000Z",{"_type":9,"current":2276},"agm-and-q1-2026-trading-update","AGM and Q1 2026 Trading Update","\u002Fnews\u002Fagm-and-q1-2026-trading-update",{"_createdAt":2280,"_id":2281,"_rev":2282,"_type":168,"_updatedAt":2283,"body":2284,"publishedAt":2518,"slug":2519,"title":2521,"url":2522},"2026-03-12T20:15:23Z","828829fd-5ce7-424e-939e-46584e5b999b","DBMO57ZIr7O8zFikjHYawt","2026-03-12T20:17:03Z",[2285,2304,2311,2319,2327,2335,2342,2350,2357,2365,2373,2381,2388,2396,2403,2411,2418,2426,2433,2441,2448,2458,2465,2473,2480,2487,2494,2502,2510],{"_key":2286,"_type":173,"children":2287,"markDefs":2301,"style":182},"574ec6e05265",[2288,2292,2297],{"_key":2289,"_type":177,"marks":2290,"text":2291},"bfc1fd3e26ab",[],"Hunting PLC (LSE: HTG), the precision engineering group, released its full year results for the year ended 31 December 2025 on Thursday 5 March 2026. Further to that announcement, the Company confirms that the following documents have today been posted or otherwise made available to shareholders and published on the Company's website at ",{"_key":2293,"_type":177,"marks":2294,"text":2296},"6781a7f45fc1",[2295],"8ade60ded248","www.huntingplc.com",{"_key":2298,"_type":177,"marks":2299,"text":2300},"d17fbe7e69c0",[],":",[2302],{"_key":2295,"_type":138,"href":2303},"http:\u002F\u002Fwww.huntingplc.com\u002F",{"_key":2305,"_type":173,"children":2306,"markDefs":2310,"style":182},"de3c09718d01",[2307],{"_key":2308,"_type":177,"marks":2309,"text":180},"22bbfa0cc276",[],[],{"_key":2312,"_type":173,"children":2313,"markDefs":2318,"style":182},"5949a6acc8a3",[2314],{"_key":2315,"_type":177,"marks":2316,"text":2317},"c770f50ad241",[],"Annual Report and Accounts for the year ended 31 December 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Large tenders in the Middle East are being pursued with our strategic mill partners, while in North America we are now driving our TEC-LOCK™ product line into the international market arena following strong growth within our domestic US markets. A key region of growth will be the Middle East where unconventional resource development is accelerating.",[],{"_key":3027,"_type":173,"children":3028,"markDefs":3033,"style":182},"cec40dc440d9",[3029],{"_key":3030,"_type":177,"marks":3031,"text":3032},"c188a3623627",[],"Hunting’s Subsea product group will incorporate OOR fully from 1 January 2026, with the technology seeing strong interest across the Americas, Middle East and Africa. With the projected increase in subsea tree awards and FPSO builds, our Stafford, Spring, and FES businesses are seeing multiple opportunities to drive margin through integrated bundling, providing a unified 'life-of-field' solution across the subsea landscape in the year ahead.",[],{"_key":3035,"_type":173,"children":3036,"markDefs":3041,"style":182},"5f54051b4d8d",[3037],{"_key":3038,"_type":177,"marks":3039,"text":3040},"6f46d74636cd",[],"Hunting’s Perforating Systems business is launching new technology, which will drive our market share in North America, along with the projected International growth in the Middle East and South America.",[],{"_key":3043,"_type":173,"children":3044,"markDefs":3049,"style":182},"a45a4261454f",[3045],{"_key":3046,"_type":177,"marks":3047,"text":3048},"7485118ccf78",[],"The Advanced Manufacturing group continues to pivot to more non-oil and gas sales, with a strong focus on aviation and space markets.",[],{"_key":3051,"_type":173,"children":3052,"markDefs":3057,"style":182},"4f3d6acd31ce",[3053],{"_key":3054,"_type":177,"marks":3055,"text":3056},"c10b35bcb70f",[],"We continue to streamline our operations, reduce our cost base and improve efficiencies to focus our resources on, and align our profitability with, those markets where the strongest growth opportunities are in the medium term.",[],{"_key":3059,"_type":173,"children":3060,"markDefs":3065,"style":182},"a5267ccad033",[3061],{"_key":3062,"_type":177,"marks":3063,"text":3064},"c5c5f31ad250",[],"In line with our stated capital allocation policy, we have proposed a second share buyback totalling $40m to be completed over the next two years. This will mean that our returns to shareholders to 2030 will be c.$290m.",[],{"_key":3067,"_type":173,"children":3068,"markDefs":3073,"style":182},"b6c7bc7402ec",[3069],{"_key":3070,"_type":177,"marks":3071,"text":3072},"12a7435ca361",[],"While we are closely monitoring the evolving situation in the Middle East, the Group’s financial outlook remains robust. Although some tender and order slippage is possible in the event of a protracted conflict, given our strategic concentration on offshore and subsea markets, alongside our growing international diversification, our 2026 projections carry minimal exposure to the Middle East. Consequently, while minor timing shifts in orders are possible, we do not anticipate a material impact on our long-term growth trajectory.",[],{"_key":3075,"_type":173,"children":3076,"markDefs":3081,"style":182},"91f5b396786a",[3077],{"_key":3078,"_type":177,"marks":3079,"text":3080},"422643907485",[],"Overall, Hunting is anticipating further earnings growth in the year ahead and, having demonstrated that the Group can deliver growth and returns against a challenged macroeconomic backdrop, the Directors remain confident that our skilled workforce will rise to these challenges as we continue to deliver our Hunting 2030 Strategy.",[],{"_key":3083,"_type":173,"children":3084,"markDefs":3088,"style":182},"c86614e08070",[3085],{"_key":3086,"_type":177,"marks":3087,"text":180},"2fd3a772e248",[],[],{"_key":3090,"_type":173,"children":3091,"markDefs":3095,"style":182},"2eb709d53531",[3092],{"_key":3093,"_type":177,"marks":3094,"text":970},"33097d6747c5",[179],[],{"_key":3097,"_type":173,"children":3098,"markDefs":3103,"style":182},"f7d3be8a9771",[3099],{"_key":3100,"_type":177,"marks":3101,"text":3102},"0d026fc8c3ee",[],"For access to narrative on the Group’s results (incorporating the Company Chair’s and Chief Executive’s Statements, Outlook, Product Group and Operating Segment Reviews, and Group Financial Review) for the year ended 31 December 2025 please click on the following link.",[],{"_key":3105,"_type":173,"children":3106,"markDefs":3112,"style":182},"2e73e32486da",[3107],{"_key":3108,"_type":177,"marks":3109,"text":3111},"bba4a6e075c1",[3110],"071816d917b2","http:\u002F\u002Fwww.rns-pdf.londonstockexchange.com\u002Frns\u002F3973V_1-2026-3-4.pdf",[3113],{"_key":3110,"_type":138,"href":3111},{"_key":3115,"_type":173,"children":3116,"markDefs":3120,"style":182},"a72b0aebf7a4",[3117],{"_key":3118,"_type":177,"marks":3119,"text":180},"5c856382ea22",[],[],{"_key":3122,"_type":173,"children":3123,"markDefs":3127,"style":182},"aac648640422",[3124],{"_key":3125,"_type":177,"marks":3126,"text":1017},"87634ef853a1",[179],[],{"_key":3129,"_type":173,"children":3130,"markDefs":3135,"style":182},"1b7a3af3ce0f",[3131],{"_key":3132,"_type":177,"marks":3133,"text":3134},"18fc322213f9",[],"For access to the Financial Statements and Notes to the Accounts for the year ended 31 December 2025 please click on the following link.",[],{"_key":3137,"_type":173,"children":3138,"markDefs":3144,"style":182},"9755d2f29fdf",[3139],{"_key":3140,"_type":177,"marks":3141,"text":3143},"8226ccc46913",[3142],"2aa0b29f2d00","http:\u002F\u002Fwww.rns-pdf.londonstockexchange.com\u002Frns\u002F3973V_2-2026-3-4.pdf",[3145],{"_key":3142,"_type":138,"href":3143},{"_key":3147,"_type":173,"children":3148,"markDefs":3152,"style":182},"f40c3c83af4b",[3149],{"_key":3150,"_type":177,"marks":3151,"text":180},"aeaf8477c5fe",[],[],{"_key":3154,"_type":173,"children":3155,"markDefs":3160,"style":182},"610793db0df2",[3156],{"_key":3157,"_type":177,"marks":3158,"text":3159},"8406842230f2",[179],"Listing Rules \u002F Disclosure Guidance and Transparency Rules Information",[],{"_key":3162,"_type":173,"children":3163,"markDefs":3168,"style":182},"1a2c753df7ae",[3164],{"_key":3165,"_type":177,"marks":3166,"text":3167},"5e700f153dfa",[],"For access to Hunting’s Strategy, Key Performance Indicators, Business Model, ESG and Sustainability, Risk Management and Internal Controls (including Principal Risks), Viability and Going Concern, and the Responsibility Statement of the Directors for the year ended 31 December 2025, please click on the following link.",[],{"_key":3170,"_type":173,"children":3171,"markDefs":3177,"style":182},"fda8f9ca95fc",[3172],{"_key":3173,"_type":177,"marks":3174,"text":3176},"5ddde99a6a57",[3175],"1fdd4e023aca","http:\u002F\u002Fwww.rns-pdf.londonstockexchange.com\u002Frns\u002F3973V_3-2026-3-4.pdf",[3178],{"_key":3175,"_type":138,"href":3176},{"_key":3180,"_type":173,"children":3181,"markDefs":3185,"style":182},"a73c72aa7c0b",[3182],{"_key":3183,"_type":177,"marks":3184,"text":180},"df2c305ca261",[],[],{"_key":3187,"_type":173,"children":3188,"markDefs":3193,"style":182},"c41fbcbed55b",[3189],{"_key":3190,"_type":177,"marks":3191,"text":3192},"f12c6687a8f1",[],"Page number references refer to the full Annual Report when available.",[],{"_key":3195,"_type":173,"children":3196,"markDefs":3209,"style":182},"9f019d25328e",[3197,3201,3205],{"_key":3198,"_type":177,"marks":3199,"text":3200},"134d05989011",[216],"The linked documents provide access to all major financial and operational disclosures contained in the Group’s 2025 Annual Report and Accounts. The complete 2025 Annual Report and Accounts will be published on 12 March 2026 and can then be accessed at ",{"_key":3202,"_type":177,"marks":3203,"text":2296},"e4bf6bb1bf0d",[3204,216],"e324b151709f",{"_key":3206,"_type":177,"marks":3207,"text":3208},"f886b2a90e94",[216],".",[3210],{"_key":3204,"_type":138,"href":3211},"http:\u002F\u002Fwww.huntingplc.com",{"_key":3213,"_type":173,"children":3214,"markDefs":3219,"style":182},"d4568636de39",[3215],{"_key":3216,"_type":177,"marks":3217,"text":3218},"fe7f99ab6bb4",[],"The financial information set out in the above links does not constitute the Company’s statutory accounts for the years ended 31 December 2025 or 31 December 2024 but is extracted from those accounts. Statutory accounts for 2024 have been delivered to the Registrar of Companies and those for 2025 will be delivered in due course. The auditor has reported on those accounts; their reports were unqualified, did not draw attention to any matter by way of emphasis without qualifying their report and did not contain statements under s498(2) or (3) of the Companies Act 2006. Whilst the financial information included in this preliminary announcement has been computed in accordance with UK adopted International Financial Reporting Standards, this announcement does not itself contain sufficient information to comply with IFRS.",[],{"_key":3221,"_type":173,"children":3222,"markDefs":3226,"style":182},"bd71c21f92fa",[3223],{"_key":3224,"_type":177,"marks":3225,"text":180},"db921df46dc7",[],[],{"_key":3228,"_type":173,"children":3229,"markDefs":3233,"style":182},"1a9eff5caec4",[3230],{"_key":3231,"_type":177,"marks":3232,"text":1064},"12d4da477f89",[179],[],{"_key":3235,"_type":173,"children":3236,"markDefs":3241,"style":182},"eff96dcb2129",[3237],{"_key":3238,"_type":177,"marks":3239,"text":3240},"1b3a0c25ccbb",[],"Hunting PLC will host an analyst briefing and webcast at the offices of Sodali & Co., The Leadenhall Building, 122 Leadenhall St, London EC3V 4AB, commencing at 9:00a.m. GMT.",[],{"_key":3243,"_type":173,"children":3244,"markDefs":3249,"style":182},"2137190b6554",[3245],{"_key":3246,"_type":177,"marks":3247,"text":3248},"581cbf345921",[],"Attendees should arrive by 8:45a.m. to clear building security in good time.",[],{"_key":3251,"_type":173,"children":3252,"markDefs":3257,"style":182},"23dc5ca9a650",[3253],{"_key":3254,"_type":177,"marks":3255,"text":3256},"3102ccda0d20",[],"The live webcast can be accessed by copying and pasting the following link into your browser:",[],{"_key":3259,"_type":173,"children":3260,"markDefs":3266,"style":182},"5cc0acbb76a6",[3261],{"_key":3262,"_type":177,"marks":3263,"text":3265},"db70f62b832d",[3264],"d9d8f4dc2d9b","https:\u002F\u002Fstream.brrmedia.co.uk\u002Fbroadcast\u002F6980b0fc4001ac0013f23fd8",[3267],{"_key":3264,"_type":138,"href":3265},{"_key":3269,"_type":173,"children":3270,"markDefs":3274,"style":182},"3cc7f8f16b72",[3271],{"_key":3272,"_type":177,"marks":3273,"text":180},"39904d50fdc1",[],[],{"_key":3276,"_type":173,"children":3277,"markDefs":3282,"style":182},"bd2eb5c540f7",[3278],{"_key":3279,"_type":177,"marks":3280,"text":3281},"d120443bedeb",[],"Analysts and investors wishing to participate in a Q&A session can do so by submitting questions via the chat function of the webcast and these will be addressed by management during the live webcast. If you have any queries relating to this then please email hunting@cleint.sodali.com",[],{"_type":144,"showCTA":7},"Continued growth in operational performance and shareholder returns as we deliver on our 2030 objectives\n","2026-03-05T07:16:00.000Z",{"_type":9,"current":3287},"results-for-the-year-ended-31-december-2025","Results for the year ended 31 December 2025","\u002Fnews\u002Fresults-for-the-year-ended-31-december-2025",{"_createdAt":3291,"_id":3292,"_rev":2282,"_system":3293,"_type":168,"_updatedAt":3296,"body":3297,"publishedAt":3414,"slug":3415,"title":3417,"url":3418},"2026-03-02T07:16:34Z","60a7f10e-5676-4cd0-b3d2-60710b57cfb7",{"base":3294},{"id":3292,"rev":3295},"VhdEcnk9nPo4QvITH3xqRd","2026-03-05T07:33:25Z",[3298,3306,3313,3320,3328,3336,3344,3352,3360,3367,3375,3383,3390,3398,3406],{"_key":3299,"_type":173,"children":3300,"markDefs":3305,"style":182},"5ed981dadaad",[3301],{"_key":3302,"_type":177,"marks":3303,"text":3304},"b698a6cfe3d6",[],"Hunting PLC (LSE: HTG), the global precision engineering group, today provides an update to its cost reduction plans, as part of the Group’s Hunting 2030 Strategy, in addition to updating investors on its ongoing capital allocation priorities.",[],{"_key":3307,"_type":173,"children":3308,"markDefs":3312,"style":182},"19f2573b945f",[3309],{"_key":3310,"_type":177,"marks":3311,"text":180},"8fae49da111c",[],[],{"_key":3314,"_type":173,"children":3315,"markDefs":3319,"style":182},"2026c8ecdfa7",[3316],{"_key":3317,"_type":177,"marks":3318,"text":1339},"a7685b65dcc2",[179],[],{"_key":3321,"_type":173,"children":3322,"level":955,"listItem":2555,"markDefs":3327,"style":182},"822ca7050f92",[3323],{"_key":3324,"_type":177,"marks":3325,"text":3326},"30725e2fa203",[],"Cost reduction plan to be completed through to the end of 2027 will increase profitability and further streamline centralised costs with projected savings of c.$15 million, in addition to those already announced.",[],{"_key":3329,"_type":173,"children":3330,"level":955,"listItem":2555,"markDefs":3335,"style":182},"37e075f13288",[3331],{"_key":3332,"_type":177,"marks":3333,"text":3334},"2dbd732cd289",[],"Proposed second Share Buyback programme, totalling $40 million, to be executed over two years up until March 2028.",[],{"_key":3337,"_type":173,"children":3338,"markDefs":3343,"style":182},"665daf94adc9",[3339],{"_key":3340,"_type":177,"marks":3341,"text":3342},"e0848ffc8541",[216],"Cost Reduction",[],{"_key":3345,"_type":173,"children":3346,"markDefs":3351,"style":182},"509729056064",[3347],{"_key":3348,"_type":177,"marks":3349,"text":3350},"3890b3766d74",[],"Since 2024, Hunting has continued to maximise profitability through the significant restructuring of its Hunting Titan and EMEA operating segments. Costs of c.$20 million have been eliminated to date and will be realised by June 2026, once the Group’s Fordoun, Aberdeen, operating site is closed.",[],{"_key":3353,"_type":173,"children":3354,"markDefs":3359,"style":182},"02e6ec010a3d",[3355],{"_key":3356,"_type":177,"marks":3357,"text":3358},"548f6aba61c5",[],"In addition to these programmes, the Group implemented regional shared-service business functions in Q4 2025 in Europe and North America. This is expected to result in further ongoing SG&A cost savings. Other operational and centralised cost savings are also being pursued and are expected to result in additional savings of c.$15 million per annum by 2028.",[],{"_key":3361,"_type":173,"children":3362,"markDefs":3366,"style":182},"c42d2746d152",[3363],{"_key":3364,"_type":177,"marks":3365,"text":180},"8e2e75840c10",[],[],{"_key":3368,"_type":173,"children":3369,"markDefs":3374,"style":182},"3be12e5614f8",[3370],{"_key":3371,"_type":177,"marks":3372,"text":3373},"166aab27672d",[216],"Proposed New $40 million Share Buy Back Programme",[],{"_key":3376,"_type":173,"children":3377,"markDefs":3382,"style":182},"8f3dc22e9159",[3378],{"_key":3379,"_type":177,"marks":3380,"text":3381},"444f42c5e156",[],"The Directors have continued to review their capital allocation priorities and pursue bolt-on acquisitions and other growth opportunities. The Directors today announce the intention to complete a further $40 million Share Buyback programme. The new Share Buyback programme is to be completed over a two-year period, with c.$20 million per annum being targeted for completion, and the Share Buyback will be subject to pre-agreed parameters. This quantum of repurchases broadly matches the proposed dividend distributions in this timescale, with the Directors targeting a balanced capital allocation and return to shareholders over the next two years.",[],{"_key":3384,"_type":173,"children":3385,"markDefs":3389,"style":182},"7b943e64886d",[3386],{"_key":3387,"_type":177,"marks":3388,"text":180},"3b3a6d300a1c",[],[],{"_key":3391,"_type":173,"children":3392,"markDefs":3397,"style":182},"60ae496e341a",[3393],{"_key":3394,"_type":177,"marks":3395,"text":3396},"0ede9daabfab",[],"Commenting on the restructuring and updated capital allocation, Jim Johnson, Chief Executive of Hunting said:",[],{"_key":3399,"_type":173,"children":3400,"markDefs":3405,"style":182},"03f970333593",[3401],{"_key":3402,"_type":177,"marks":3403,"text":3404},"4158449b172b",[216],"“Our business remains focused on maximising profitability and cash generation, alongside pursuing our Hunting 2030 Strategy to deliver top line revenue growth through our key products and technology offering.",[],{"_key":3407,"_type":173,"children":3408,"markDefs":3413,"style":182},"f8bde7a13bd7",[3409],{"_key":3410,"_type":177,"marks":3411,"text":3412},"ba646700fcc0",[216],"“In addition, the proposed new $40 million Share Buyback programme reflects our confidence in our cash generation and increases our returns to shareholders, providing an ambition which now extends to 2028.”",[],"2026-03-05T07:09:00.000Z",{"_type":9,"current":3416},"cost-reduction-plan-and-update-to-capital-allocation-priorities"," Cost Reduction Plan and Update to Capital Allocation Priorities","\u002Fnews\u002Fcost-reduction-plan-and-update-to-capital-allocation-priorities",{"_createdAt":3420,"_id":3421,"_rev":3422,"_type":168,"_updatedAt":3423,"body":3424,"introText":3431,"publishedAt":3493,"slug":3494,"title":3496,"url":3497},"2026-02-16T06:55:33Z","eb07a4d2-c0e7-42b8-9941-82fd4d6ba89e","pWgyghzhJBYjhJ3z5NZN7H","2026-02-16T07:07:55Z",[3425,3433,3441,3448,3456,3463,3471,3478,3486],{"_key":3426,"_type":173,"children":3427,"markDefs":3432,"style":182},"f99def437707",[3428],{"_key":3429,"_type":177,"marks":3430,"text":3431},"fdbd96137aba",[],"Hunting PLC (LSE: HTG), the global precision engineering group, today notes the stock exchange announcement issued by Buccaneer Energy PLC (AIM : BUCE), which details the pilot test results at its Pine Mills field in East Texas, using Hunting’s Organic Oil Recovery enhanced oil recovery solution.",[],{"_key":3434,"_type":173,"children":3435,"markDefs":3440,"style":182},"5680f796fd7c",[3436],{"_key":3437,"_type":177,"marks":3438,"text":3439},"81f7ef7847aa",[],"As noted in the announcement, production within the oil wells reported a 100% uplift, and in one well reduced the water cut to zero. Buccaneer Energy notes that the OOR technology will be rolled out across other wells within its portfolio.",[],{"_key":3442,"_type":173,"children":3443,"markDefs":3447,"style":182},"bcedd1330b33",[3444],{"_key":3445,"_type":177,"marks":3446,"text":180},"179783ac2330",[],[],{"_key":3449,"_type":173,"children":3450,"markDefs":3455,"style":182},"ae0968180708",[3451],{"_key":3452,"_type":177,"marks":3453,"text":3454},"21a6af45e093",[],"Hunting is delighted with this successful pilot treatment, which highlights the impact that the Company’s OOR solution can have on oil production.",[],{"_key":3457,"_type":173,"children":3458,"markDefs":3462,"style":182},"a0ef38f6e8ff",[3459],{"_key":3460,"_type":177,"marks":3461,"text":180},"45fafe1dc371",[],[],{"_key":3464,"_type":173,"children":3465,"markDefs":3470,"style":182},"6dcc62c0827c",[3466],{"_key":3467,"_type":177,"marks":3468,"text":3469},"f65b2526003a",[],"Commenting on this result, Jim Johnson, Chief Executive said:",[],{"_key":3472,"_type":173,"children":3473,"markDefs":3477,"style":182},"54917d11d8bf",[3474],{"_key":3475,"_type":177,"marks":3476,"text":180},"327d1921e7d9",[],[],{"_key":3479,"_type":173,"children":3480,"markDefs":3485,"style":182},"a1902a928147",[3481],{"_key":3482,"_type":177,"marks":3483,"text":3484},"abba9d37ee21",[216],"“This well result supports our confidence in the OOR technology, as a lower cost enhanced oil recovery solution which can be utilised in many oil wells globally.”",[],{"_key":3487,"_type":173,"children":3488,"markDefs":3492,"style":182},"f87f65f9778d",[3489],{"_key":3490,"_type":177,"marks":3491,"text":180},"59865e2f2767",[],[],"2026-02-16T06:54:47.995Z",{"_type":9,"current":3495},"organic-oil-recovery-pilot-test-result","Organic Oil Recovery Pilot Test Result","\u002Fnews\u002Forganic-oil-recovery-pilot-test-result",{"_createdAt":3499,"_id":3500,"_rev":3501,"_type":168,"_updatedAt":3502,"body":3503,"introText":4028,"publishedAt":4029,"slug":4030,"title":4032,"url":4033},"2026-01-12T17:12:14Z","507d5cfd-2aab-420a-8f2c-94db779e2a40","DBMO57ZIr7O8zFikjHYRM0","2026-01-13T07:00:20Z",[3504,3512,3520,3528,3536,3544,3552,3560,3568,3576,3584,3592,3600,3608,3616,3624,3632,3640,3648,3656,3664,3672,3680,3688,3695,3703,3711,3728,3736,3744,3753,3761,3769,3777,3785,3793,3801,3809,3817,3824,3832,3840,3847,3855,3862,3870,3877,3885,3892,3900,3907,3915,3922,3929,3936,3943,3950,3957,3964,3971,3978,3985,3992,4000,4007,4014,4021],{"_key":3505,"_type":173,"children":3506,"markDefs":3511,"style":182},"00d5853bc62e",[3507],{"_key":3508,"_type":177,"marks":3509,"text":3510},"f720880b3b2b",[179,216],"2025 Summary Financials (unaudited)",[],{"_key":3513,"_type":173,"children":3514,"level":955,"listItem":2555,"markDefs":3519,"style":182},"a9fe18a7078e",[3515],{"_key":3516,"_type":177,"marks":3517,"text":3518},"fac0b7d07ff2",[],"Group EBITDA of c.$135 million, up 7% year-on-year.",[],{"_key":3521,"_type":173,"children":3522,"level":955,"listItem":2555,"markDefs":3527,"style":182},"70e7c0c8e360",[3523],{"_key":3524,"_type":177,"marks":3525,"text":3526},"021d9ea8ca3b",[],"Group EBITDA margin of c.13% recorded, up from 12% in prior year.",[],{"_key":3529,"_type":173,"children":3530,"level":955,"listItem":2555,"markDefs":3535,"style":182},"2e6bd199ccbe",[3531],{"_key":3532,"_type":177,"marks":3533,"text":3534},"d1ed51c59024",[],"c.$350 million sales order book at year-end, reflecting completion of large orders for KOC and Exxon.",[],{"_key":3537,"_type":173,"children":3538,"level":955,"listItem":2555,"markDefs":3543,"style":182},"856cd941969d",[3539],{"_key":3540,"_type":177,"marks":3541,"text":3542},"00ad1b879661",[],"Short-term tender pipeline of OCTG, Subsea and AMG opportunities continues to well exceed $1 billion, which includes a strong subsea pipeline totalling c.$300 million, as noted below.",[],{"_key":3545,"_type":173,"children":3546,"level":955,"listItem":2555,"markDefs":3551,"style":182},"85aa67b7de61",[3547],{"_key":3548,"_type":177,"marks":3549,"text":3550},"f51ac71bbec3",[],"Total cash and bank \u002F (borrowings) of c.$59 - $61 million at year-end, reflecting strong cash collection in final quarter, and after net acquisition, dividend, treasury share and share buyback outflows totalling c.$138 million.",[],{"_key":3553,"_type":173,"children":3554,"level":955,"listItem":2555,"markDefs":3559,"style":182},"4396b7902fd1",[3555],{"_key":3556,"_type":177,"marks":3557,"text":3558},"d104a8f5fa23",[],"Revised capital allocation priorities announced in the year – with annual dividend growth to be 13% per annum to the end of the decade, in addition to commencing a share buyback programme, in support of strong shareholder returns.",[],{"_key":3561,"_type":173,"children":3562,"level":955,"listItem":2555,"markDefs":3567,"style":182},"c5c3c8a1b1ef",[3563],{"_key":3564,"_type":177,"marks":3565,"text":3566},"8b20f18061a3",[],"$33.5 million of $60 million share buyback completed at year-end, with balance of programme to be continued during Q1 2026.",[],{"_key":3569,"_type":173,"children":3570,"markDefs":3575,"style":182},"9538749166ae",[3571],{"_key":3572,"_type":177,"marks":3573,"text":3574},"3cee028585ee",[179,216],"2026 Guidance",[],{"_key":3577,"_type":173,"children":3578,"level":955,"listItem":2555,"markDefs":3583,"style":182},"4384213d24c8",[3579],{"_key":3580,"_type":177,"marks":3581,"text":3582},"1b0ac34d3934",[],"2026 EBITDA expected to be approximately $145 million - $155 million, representing an additional year of good organic growth, despite wider market volatility.",[],{"_key":3585,"_type":173,"children":3586,"level":955,"listItem":2555,"markDefs":3591,"style":182},"f20e7d8183dc",[3587],{"_key":3588,"_type":177,"marks":3589,"text":3590},"3875ce2d3cad",[],"Capital Expenditure in the year ahead expected to be c.$40 - $50 million.",[],{"_key":3593,"_type":173,"children":3594,"level":955,"listItem":2555,"markDefs":3599,"style":182},"d9345aae5dcd",[3595],{"_key":3596,"_type":177,"marks":3597,"text":3598},"c73daf90ce60",[],"Free Cash Flow expected to be c.50% of EBITDA.",[],{"_key":3601,"_type":173,"children":3602,"level":955,"listItem":2555,"markDefs":3607,"style":182},"cdc57f56e7db",[3603],{"_key":3604,"_type":177,"marks":3605,"text":3606},"fd4490dcff7c",[],"Dividend distributions in the year ahead are planned to be in line with the revised capital allocation guidance issued in July 2025.",[],{"_key":3609,"_type":173,"children":3610,"markDefs":3615,"style":182},"00bb1490f110",[3611],{"_key":3612,"_type":177,"marks":3613,"text":3614},"d634f4b3acdd",[179,216],"Hunting 2030 Strategic Ambition",[],{"_key":3617,"_type":173,"children":3618,"level":955,"listItem":2555,"markDefs":3623,"style":182},"7b355c680a1c",[3619],{"_key":3620,"_type":177,"marks":3621,"text":3622},"6acbec1bf47a",[],"Increasing contribution from Subsea Technologies operating segment to 2030 revenue ambition.",[],{"_key":3625,"_type":173,"children":3626,"level":955,"listItem":2555,"markDefs":3631,"style":182},"a36f73b4db71",[3627],{"_key":3628,"_type":177,"marks":3629,"text":3630},"e4b94c33a799",[],"Target for Subsea Technologies sales raised from $250 million to $470 million, which includes earnings accretive acquisitions, which will increase the proportion of higher margin products and system solutions.",[],{"_key":3633,"_type":173,"children":3634,"level":955,"listItem":2555,"markDefs":3639,"style":182},"7fbe0a260c4e",[3635],{"_key":3636,"_type":177,"marks":3637,"text":3638},"eb5781253bf7",[],"By 2028, the current Subsea Technologies operating segment is targeted to generate revenue of c.$230 million and EBITDA of c.$50 million. This is targeted to contribute to c.26% of Group EBITDA by 2028.",[],{"_key":3641,"_type":173,"children":3642,"markDefs":3647,"style":182},"1b1f77827aaf",[3643],{"_key":3644,"_type":177,"marks":3645,"text":3646},"666e93a1b4cf",[],"Jim Johnson, Chief Executive of Hunting, commented:",[],{"_key":3649,"_type":173,"children":3650,"markDefs":3655,"style":182},"73bfea5b587a",[3651],{"_key":3652,"_type":177,"marks":3653,"text":3654},"8e80ba5e3daa",[216],"“2025 has seen further delivery of our Hunting 2030 strategy and we are well placed to deliver another year of growth as we enter 2026, despite wider market headwinds.",[],{"_key":3657,"_type":173,"children":3658,"markDefs":3663,"style":182},"06132cb12146",[3659],{"_key":3660,"_type":177,"marks":3661,"text":3662},"85cd130ba71b",[216],"During the year, we successfully acquired and integrated the Flexible Engineered Solutions (“FES”) and the Organic Oil Recovery (“OOR”) businesses while completing the divestment of our interest in Rival Downhole Tools, allowing us to recycle capital into faster growth and higher return businesses.",[],{"_key":3665,"_type":173,"children":3666,"markDefs":3671,"style":182},"516d1bc69bfb",[3667],{"_key":3668,"_type":177,"marks":3669,"text":3670},"f376eda575ee",[216],"With our revised capital allocation priorities announced in July 2025, our shareholder returns increased during the year whilst retaining our financial flexibility to pursue earnings enhancing acquisitions. This is due to our strong focus on balance sheet efficiency and strength.",[],{"_key":3673,"_type":173,"children":3674,"markDefs":3679,"style":182},"9e1f83d3f794",[3675],{"_key":3676,"_type":177,"marks":3677,"text":3678},"09d36e133c4d",[216],"Our Subsea Technologies operating segment is poised for growth in the medium-term, a testament to our strategy to pivot our earnings to this sub-sector of the energy industry back in 2019. The Spring and FES businesses are seeing strong opportunities within the SURF sub-sector of the industry, while the OOR business is seeing tremendous levels of interest in South America, the Middle East and Asia Pacific.",[],{"_key":3681,"_type":173,"children":3682,"markDefs":3687,"style":182},"227edfc159ec",[3683],{"_key":3684,"_type":177,"marks":3685,"text":3686},"de78d60d36f1",[216],"Our integrated and enlarged subsea offering means that we can now offer customers a more comprehensive range of products. As a result of this, we are today raising our guidance for Subsea Technologies revenue, as part of our Hunting 2030 growth plan, from c.$250 million p.a. to c.$470 million p.a. by the end of the decade, a figure we expect to deliver through further M&A activity in addition to a strong contribution from the OOR business.”",[],{"_key":3689,"_type":173,"children":3690,"markDefs":3694,"style":182},"5d0164a87f77",[3691],{"_key":3692,"_type":177,"marks":3693,"text":180},"cf1764c1f319",[],[],{"_key":3696,"_type":173,"children":3697,"markDefs":3702,"style":182},"f68eb4580f2d",[3698],{"_key":3699,"_type":177,"marks":3700,"text":3701},"dae4db0b0b8d",[179],"Subsea Technologies Analyst Event",[],{"_key":3704,"_type":173,"children":3705,"level":955,"listItem":2555,"markDefs":3710,"style":182},"bb8c50de9e21",[3706],{"_key":3707,"_type":177,"marks":3708,"text":3709},"28f4336477ab",[],"Hunting is hosting a Subsea Technologies event for sell-side analysts today at 4:30p.m. GMT.",[],{"_key":3712,"_type":173,"children":3713,"level":955,"listItem":2555,"markDefs":3726,"style":182},"ee5b73258369",[3714,3718,3722],{"_key":3715,"_type":177,"marks":3716,"text":3717},"b43c6353cd0f",[],"Playbacks of this briefing will be available shortly after the conclusion of the session, with the presentation slides available at ",{"_key":3719,"_type":177,"marks":3720,"text":2296},"e3a42c9e58fa",[3721],"541f9eb276f7",{"_key":3723,"_type":177,"marks":3724,"text":3725},"439ac254937a",[]," later today.",[3727],{"_key":3721,"_type":138,"href":3211},{"_key":3729,"_type":173,"children":3730,"level":955,"listItem":2555,"markDefs":3735,"style":182},"2af888a9d7d2",[3731],{"_key":3732,"_type":177,"marks":3733,"text":3734},"94fdc9016eaa",[],"The following information is to be included in the presentation materials:",[],{"_key":3737,"_type":173,"children":3738,"markDefs":3743,"style":182},"ff080cdaa3c3",[3739],{"_key":3740,"_type":177,"marks":3741,"text":3742},"7a7f5e042a84",[216],"2030 Subsea Technologies operating segment financial targets",[],{"_key":3745,"_type":173,"children":3746,"level":3751,"listItem":2555,"markDefs":3752,"style":182},"04156150905c",[3747],{"_key":3748,"_type":177,"marks":3749,"text":3750},"ef937001b24d",[],"As part of a larger revenue pivot and stronger contribution from the Subsea Technologies operating segment, the 2030 Subsea Technologies revenue targets have been raised from c.$250 million (announced at the 2023 Capital Markets Day) to c.$470 million per annum.",2,[],{"_key":3754,"_type":173,"children":3755,"level":3751,"listItem":2555,"markDefs":3760,"style":182},"1eb682cca7fa",[3756],{"_key":3757,"_type":177,"marks":3758,"text":3759},"e9c14527056e",[],"This comprises $320 million per annum from Hunting’s core platform and targets a strong upside contribution from the OOR business unit, in addition to $150 million of revenue from acquisition-related growth by the end of the decade.",[],{"_key":3762,"_type":173,"children":3763,"level":3751,"listItem":2555,"markDefs":3768,"style":182},"a01894854a99",[3764],{"_key":3765,"_type":177,"marks":3766,"text":3767},"2f4526010df8",[],"These revised targets reflect both the strong outlook for the offshore\u002Fsubsea sub-sector of the oil and gas industry and the organic growth expectations from the five business units comprising the operating segment.",[],{"_key":3770,"_type":173,"children":3771,"markDefs":3776,"style":182},"2befbfa168c0",[3772],{"_key":3773,"_type":177,"marks":3774,"text":3775},"c65090d2bff3",[216],"2026-2028 Subsea Technologies operating segment financial targets",[],{"_key":3778,"_type":173,"children":3779,"level":3751,"listItem":2555,"markDefs":3784,"style":182},"c74bbf92a9bc",[3780],{"_key":3781,"_type":177,"marks":3782,"text":3783},"062c8546f3c4",[],"Short-term tender pipeline opportunities for 2026 of c.$300 million.",[],{"_key":3786,"_type":173,"children":3787,"level":3751,"listItem":2555,"markDefs":3792,"style":182},"a7321bc7c760",[3788],{"_key":3789,"_type":177,"marks":3790,"text":3791},"43eef7e38c67",[],"By 2028, the current Subsea Technologies operating segment is targeted to generate revenue of c.$230 million and EBITDA of c.$50 million.",[],{"_key":3794,"_type":173,"children":3795,"level":3751,"listItem":2555,"markDefs":3800,"style":182},"ceec3ef1d6e5",[3796],{"_key":3797,"_type":177,"marks":3798,"text":3799},"b73bdf9a3c9b",[],"Target EBITDA margins for the operating segment are planned to be in the range of 18% to 22% reflecting the stronger margin profile of subsea products. This margin profile forms part of the wider Group’s EBITDA margin ambition of greater than 15% by the end of the decade.",[],{"_key":3802,"_type":173,"children":3803,"level":3751,"listItem":2555,"markDefs":3808,"style":182},"ad0a9749f718",[3804],{"_key":3805,"_type":177,"marks":3806,"text":3807},"52f2c6d42269",[],"Based on delivering this EBITDA result for the Subsea Technologies operating segment, the Directors project this result will make up c.26% of Group EBITDA by 2028. This projection is based on the Directors’ current view of performance of each operating segment and given the prevailing macro-economic environment.",[],{"_key":3810,"_type":173,"children":3811,"markDefs":3816,"style":182},"dd38a14d067b",[3812],{"_key":3813,"_type":177,"marks":3814,"text":3815},"413bd8aa102c",[],"The Directors also confirm that the Hunting 2030 financial ambitions of revenue of c.$2 billion, at an EBITDA margin of 15% or greater remain unchanged. This ambition includes acquisition-related revenue of c.$380 million, which also remains unchanged.",[],{"_key":3818,"_type":173,"children":3819,"markDefs":3823,"style":182},"8792d4dc04ed",[3820],{"_key":3821,"_type":177,"marks":3822,"text":180},"56266ad21e99",[],[],{"_key":3825,"_type":173,"children":3826,"markDefs":3831,"style":182},"7ff26544152d",[3827],{"_key":3828,"_type":177,"marks":3829,"text":3830},"c142e8fc8987",[179,216],"2025 Full Year Trading Update",[],{"_key":3833,"_type":173,"children":3834,"markDefs":3839,"style":182},"81eda70d4aa4",[3835],{"_key":3836,"_type":177,"marks":3837,"text":3838},"ab770b9c085d",[],"The Hunting Titan operating segment expects to report a year of improving profitability as a result of the restructuring activities undertaken during 2023-2024, with Titan’s new management team focusing on both sales efforts in more profitable US shale basins, while improving manufacturing efficiencies. This profit growth has been delivered despite US onshore market conditions, which remains over supplied. Hunting Titan’s international markets have delivered sales opportunities in the year, supporting the segment’s wider recovery with good business generated from Argentina and the Middle East in particular. This international growth is expected to further accelerate in the year ahead.",[],{"_key":3841,"_type":173,"children":3842,"markDefs":3846,"style":182},"17178d59c44e",[3843],{"_key":3844,"_type":177,"marks":3845,"text":180},"60706b9a2893",[],[],{"_key":3848,"_type":173,"children":3849,"markDefs":3854,"style":182},"c9047f1bbd93",[3850],{"_key":3851,"_type":177,"marks":3852,"text":3853},"3d2b6e0d23a3",[],"The North America operating segment expects to report a robust year of profits, with market share gains in the US OCTG business and strong workflows to South America from the US Manufacturing business offsetting a weaker Advanced Manufacturing performance, which reflects lower oil and gas MWD\u002FLWD equipment sales. Dearborn’s pivot to non-oil and gas sales continues to gain traction with a closing non-oil and gas order book of c.$100 million.",[],{"_key":3856,"_type":173,"children":3857,"markDefs":3861,"style":182},"0263e0081c2b",[3858],{"_key":3859,"_type":177,"marks":3860,"text":180},"29f9a9ed802e",[],[],{"_key":3863,"_type":173,"children":3864,"markDefs":3869,"style":182},"dfd48330c615",[3865],{"_key":3866,"_type":177,"marks":3867,"text":3868},"4e14a9ad5349",[],"The Subsea Technologies operating segment expects to report profitability slightly lower than 2024 due to project timings and some slowing in the couplings and valves business unit in the early part of the year. The Spring business unit continues to complete its titanium stress joint projects for South America, Gulf of America and the Turkish Black Sea. The FES business is now fully integrated into Hunting’s subsea platform with bundling and joint sales initiatives seeing good traction with the segment’s combined client base. FES continues to trade in-line with management expectations.",[],{"_key":3871,"_type":173,"children":3872,"markDefs":3876,"style":182},"4ce507f05bfe",[3873],{"_key":3874,"_type":177,"marks":3875,"text":180},"2f947d2ea19e",[],[],{"_key":3878,"_type":173,"children":3879,"markDefs":3884,"style":182},"bb13368f5089",[3880],{"_key":3881,"_type":177,"marks":3882,"text":3883},"ad70ed671529",[],"The EMEA operating segment expects to report narrowing losses in the year and recorded a break-even result in December 2025. The restructuring of the operating segment will continue into 2026 and, as noted in previous announcements, the Fordoun, Aberdeen operating site will be closed in June 2026 with some OCTG threading and repair capabilities being transferred back to the Group’s Badentoy, Aberdeen, operating site.",[],{"_key":3886,"_type":173,"children":3887,"markDefs":3891,"style":182},"36fb0e3eb7ca",[3888],{"_key":3889,"_type":177,"marks":3890,"text":180},"12bb788d676a",[],[],{"_key":3893,"_type":173,"children":3894,"markDefs":3899,"style":182},"a9fd656ef7f2",[3895],{"_key":3896,"_type":177,"marks":3897,"text":3898},"1d56ef433807",[],"The Asia Pacific operating segment expects to report another strong year of profits, supported by the orders for Kuwait Oil Company. New facility investment is underway to support the international OCTG tender pipeline.",[],{"_key":3901,"_type":173,"children":3902,"markDefs":3906,"style":182},"443a54b11aba",[3903],{"_key":3904,"_type":177,"marks":3905,"text":180},"20cf9fec07de",[],[],{"_key":3908,"_type":173,"children":3909,"markDefs":3914,"style":182},"2be15117b324",[3910],{"_key":3911,"_type":177,"marks":3912,"text":3913},"673909189b6d",[],"The Group’s tender pipeline remains in excess of c.$1 billion as new Middle East and Africa opportunities continue to be pursued and includes Subsea opportunities of c.$300 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2026.","2026-01-12T17:11:41.555Z",{"_type":9,"current":4031},"2025-full-year-trading-statement-and-subsea-technologies-analyst-event","2025 Full Year Trading Statement & Subsea Technologies Analyst Event ","\u002Fnews\u002F2025-full-year-trading-statement-and-subsea-technologies-analyst-event",{"_createdAt":4035,"_id":4036,"_rev":4037,"_system":4038,"_type":168,"_updatedAt":4041,"body":4042,"introText":4320,"publishedAt":4321,"slug":4322,"title":4324,"url":4325},"2025-11-27T13:09:42Z","dfd880ca-d3d1-4c32-8c21-bf3a11835c63","pWgyghzhJBYjhJ3z5NZL1e",{"base":4039},{"id":4036,"rev":4040},"EAD7OlWiehvPRVj0qjOik7","2025-12-01T09:45:19Z",[4043,4051,4058,4066,4073,4081,4088,4096,4103,4111,4119,4127,4135,4143,4150,4158,4165,4176,4183,4191,4198,4206,4213,4221,4228,4235,4242,4249,4256,4263,4270,4277,4284,4291,4298,4306,4313],{"_key":4044,"_type":173,"children":4045,"markDefs":4050,"style":182},"7bf99906d493",[4046],{"_key":4047,"_type":177,"marks":4048,"text":4049},"488e09c6fbb5",[],"Hunting PLC (LSE:HTG), the precision engineering group, today announces that Hunting Energy Services Production Technology, Inc., Hunting’s recently acquired business which aims to optimise oil reservoir performance and recovery rates, has secured its first sampling and testing contract award in Brazil.",[],{"_key":4052,"_type":173,"children":4053,"markDefs":4057,"style":182},"aa9990de8354",[4054],{"_key":4055,"_type":177,"marks":4056,"text":180},"5f449aa5589c",[],[],{"_key":4059,"_type":173,"children":4060,"markDefs":4065,"style":182},"bc7d87eb2330",[4061],{"_key":4062,"_type":177,"marks":4063,"text":4064},"892bf94d90a0",[],"This award represents a geographical breakthrough for OOR into the highly active South America market, OOR’s first new territory under Hunting’s ownership since the business was acquired in March 2025, and marks a significant strategic milestone for the business and the wider Group.",[],{"_key":4067,"_type":173,"children":4068,"markDefs":4072,"style":182},"8cc215e5f50e",[4069],{"_key":4070,"_type":177,"marks":4071,"text":180},"388c5eff34bd",[],[],{"_key":4074,"_type":173,"children":4075,"markDefs":4080,"style":182},"38bfd60a6f4e",[4076],{"_key":4077,"_type":177,"marks":4078,"text":4079},"294ec72450c8",[],"The contract, awarded in November 2025, is with a Brazilian based oil and gas exploration and production company and covers the sampling of 20 wells across 11 different fields, all located onshore in the north of Brazil. Sampling operations are already underway and will continue through the coming months, with field implementation and analysis expected in 2026.",[],{"_key":4082,"_type":173,"children":4083,"markDefs":4087,"style":182},"8cb6901eedac",[4084],{"_key":4085,"_type":177,"marks":4086,"text":180},"ad3becab5554",[],[],{"_key":4089,"_type":173,"children":4090,"markDefs":4095,"style":182},"d90077722784",[4091],{"_key":4092,"_type":177,"marks":4093,"text":4094},"e2d93107aa11",[],"This award demonstrates the level of customer interest and long-term potential of OOR’s patented enhanced oil recovery technology, which optimises reservoir performance and oil recovery rates across the life cycle of a typical production well by providing the following benefits to operators:",[],{"_key":4097,"_type":173,"children":4098,"markDefs":4102,"style":182},"dbc84e4d77ca",[4099],{"_key":4100,"_type":177,"marks":4101,"text":180},"9e1bb1c0aaa6",[],[],{"_key":4104,"_type":173,"children":4105,"level":955,"listItem":2555,"markDefs":4110,"style":182},"69dc23c41a52",[4106],{"_key":4107,"_type":177,"marks":4108,"text":4109},"0f802d702341",[],"·It improves ultimate recovery of oil reserves from a reservoir;",[],{"_key":4112,"_type":173,"children":4113,"level":955,"listItem":2555,"markDefs":4118,"style":182},"cc0342c818ad",[4114],{"_key":4115,"_type":177,"marks":4116,"text":4117},"c3a4bb4a3a87",[],"·Is a cost-efficient technology that has no capex requirements and is simple to deploy;",[],{"_key":4120,"_type":173,"children":4121,"level":955,"listItem":2555,"markDefs":4126,"style":182},"d59d85e1f8e8",[4122],{"_key":4123,"_type":177,"marks":4124,"text":4125},"1f850c67099a",[],"·Lowers the water cut during end-of-life production;",[],{"_key":4128,"_type":173,"children":4129,"level":955,"listItem":2555,"markDefs":4134,"style":182},"f92b65aa8ccb",[4130],{"_key":4131,"_type":177,"marks":4132,"text":4133},"52e9374bcb4b",[],"·Lowers hydrogen sulphide levels in production offtake which reduces ongoing maintenance and mitigation costs; and",[],{"_key":4136,"_type":173,"children":4137,"level":955,"listItem":2555,"markDefs":4142,"style":182},"5ffd46e5df94",[4138],{"_key":4139,"_type":177,"marks":4140,"text":4141},"db3af9291ef6",[],"·Extends the life and increases the economic returns of a producing field.",[],{"_key":4144,"_type":173,"children":4145,"markDefs":4149,"style":182},"4dad2a0f6f83",[4146],{"_key":4147,"_type":177,"marks":4148,"text":180},"609a831fb041",[],[],{"_key":4151,"_type":173,"children":4152,"markDefs":4157,"style":182},"60e36984674e",[4153],{"_key":4154,"_type":177,"marks":4155,"text":4156},"c7c97563a5f3",[],"As of 1 January 2026, OOR will be incorporated into the Subsea Technologies operating segment, as Hunting continues to grow its integrated full cycle subsea platform.",[],{"_key":4159,"_type":173,"children":4160,"markDefs":4164,"style":182},"7848cbdc4bab",[4161],{"_key":4162,"_type":177,"marks":4163,"text":180},"5a5555061b8b",[],[],{"_key":4166,"_type":173,"children":4167,"markDefs":4175,"style":182},"8c8057cd382f",[4168,4172],{"_key":4169,"_type":177,"marks":4170,"text":4171},"738fb20da88a",[179],"Jim Johnson, Chief Executive of Hunting, commented",{"_key":4173,"_type":177,"marks":4174,"text":2300},"5c546503d4ed",[],[],{"_key":4177,"_type":173,"children":4178,"markDefs":4182,"style":182},"7d12c9a44d8a",[4179],{"_key":4180,"_type":177,"marks":4181,"text":180},"618d6256a28a",[],[],{"_key":4184,"_type":173,"children":4185,"markDefs":4190,"style":182},"174cf61f982e",[4186],{"_key":4187,"_type":177,"marks":4188,"text":4189},"72039ca4bf14",[216],"“This contract represents a strategic milestone for OOR and for the wider Hunting Group. Not only does it unlock the technology’s potential in an important geographical region, but it demonstrates how OOR can leverage Hunting’s diverse global footprint to accelerate its long-term commercial potential.",[],{"_key":4192,"_type":173,"children":4193,"markDefs":4197,"style":182},"b78bbeb4c51e",[4194],{"_key":4195,"_type":177,"marks":4196,"text":180},"f623da10776a",[],[],{"_key":4199,"_type":173,"children":4200,"markDefs":4205,"style":182},"dc79c38e386d",[4201],{"_key":4202,"_type":177,"marks":4203,"text":4204},"27e6439612df",[216],"“The acquisition of OOR, in addition to that of Flexible Engineering Solutions earlier this year, demonstrates that the Company continues to make good progress in expanding Hunting’s global subsea 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Integration of Flexible Engineered Solutions (\"FES\") progressing well, with cross selling opportunities being captured.",[],{"_key":4395,"_type":173,"children":4396,"markDefs":4401,"style":182},"48a818621d4f",[4397],{"_key":4398,"_type":177,"marks":4399,"text":4400},"c5958095791e",[],"· EMEA restructuring continuing, with management on track to deliver annualised cost savings of c.$11 million by June 2026. The restructuring has disrupted trading to certain businesses within the region, leading to the Group's anticipated full year outturn noted below.",[],{"_key":4403,"_type":173,"children":4404,"markDefs":4409,"style":182},"f5edaea443f1",[4405],{"_key":4406,"_type":177,"marks":4407,"text":4408},"0d2ff94113f8",[],"· Asia Pacific also trading in line with expectations.",[],{"_key":4411,"_type":173,"children":4412,"markDefs":4417,"style":182},"562ddc740dd5",[4413],{"_key":4414,"_type":177,"marks":4415,"text":4416},"54b8bed0cb09",[],"· Organic Oil Recovery (\"OOR\") business scaling up following technology acquisition, with two treatments in the North Sea underway in the quarter for a major operator.",[],{"_key":4419,"_type":173,"children":4420,"markDefs":4425,"style":182},"73cdece49540",[4421],{"_key":4422,"_type":177,"marks":4423,"text":4424},"ba423ad43d41",[],"· Balance Sheet remains strong with net assets of c.$907 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2029.",[],{"_key":4481,"_type":173,"children":4482,"markDefs":4486,"style":182},"6cfeb1e63fdb",[4483],{"_key":4484,"_type":177,"marks":4485,"text":180},"6613463a4868",[],[],{"_key":4488,"_type":173,"children":4489,"markDefs":4494,"style":182},"2024c571ae27",[4490],{"_key":4491,"_type":177,"marks":4492,"text":4493},"16a01766dd4d",[],"Outlook and 2025 Outturn",[],{"_key":4496,"_type":173,"children":4497,"markDefs":4501,"style":182},"ea41746ead07",[4498],{"_key":4499,"_type":177,"marks":4500,"text":180},"3afde024adee",[],[],{"_key":4503,"_type":173,"children":4504,"markDefs":4509,"style":182},"71ca529a85d8",[4505],{"_key":4506,"_type":177,"marks":4507,"text":4508},"9931f1e6f9e0",[],"· 2025 EBITDA outturn is expected to be at the lower end of the Company's published guidance range of $135-$145 million, representing strong year-on-year growth compared to 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opportunities, while also balancing these with increased shareholder returns. Management is also continuing to review high quality acquisition opportunities, with a focus on subsea and well completions.\"",[],{"_key":4586,"_type":173,"children":4587,"markDefs":4591,"style":182},"d3cb13daa5cc",[4588],{"_key":4589,"_type":177,"marks":4590,"text":180},"8860974cb96a",[],[],{"_key":4593,"_type":173,"children":4594,"markDefs":4599,"style":182},"367e9b3b12a5",[4595],{"_key":4596,"_type":177,"marks":4597,"text":4598},"3e3ab0f108af",[],"Q3 Trading Update",[],{"_key":4601,"_type":173,"children":4602,"markDefs":4606,"style":182},"f773a6a8f4c7",[4603],{"_key":4604,"_type":177,"marks":4605,"text":180},"a405ab78629b",[],[],{"_key":4608,"_type":173,"children":4609,"markDefs":4614,"style":182},"9784f489e70b",[4610],{"_key":4611,"_type":177,"marks":4612,"text":4613},"ac03fd6c6960",[],"Hunting's trading performance during Q3 2025 was, overall, in-line with management's expectations across most operating segments and product groups.",[],{"_key":4616,"_type":173,"children":4617,"markDefs":4621,"style":182},"c065245b4e9d",[4618],{"_key":4619,"_type":177,"marks":4620,"text":180},"f29697fd796e",[],[],{"_key":4623,"_type":173,"children":4624,"markDefs":4629,"style":182},"fc165b617438",[4625],{"_key":4626,"_type":177,"marks":4627,"text":4628},"de5721e9d4a4",[],"The Hunting Titan operating segment reports stronger profitability compared to the prior year, as management focus on improved production efficiencies, while also capitalising on market activity in South America and the Middle East. Trading within the North America operating segment has been marginally ahead of expectations, due to strong OCTG sales in the period, offsetting some softness within the Advanced Manufacturing product group. The Subsea Technologies operating segment delivered better results throughout the quarter as orders for ExxonMobil Guyana and TPAO in the Black Sea were progressed. Management now expects FES to contribute c.$3 million to the Group's EBITDA result for 2025. Multiple cross selling opportunities have been identified since acquisition, which are being developed by management, as the integration continues. The restructuring within the EMEA operating segment continues, with the facilities being closed in the Netherlands and Norway in the period, coupled with the opening of the Group's larger facility in Dubai, UAE. This led to some disruption to trading during the quarter. The Group's Asia Pacific operating segment has continued to trade in line with expectations.",[],{"_key":4631,"_type":173,"children":4632,"markDefs":4636,"style":182},"39bd21b61177",[4633],{"_key":4634,"_type":177,"marks":4635,"text":180},"4e2e10c23ed5",[],[],{"_key":4638,"_type":173,"children":4639,"markDefs":4644,"style":182},"73f39f753c89",[4640],{"_key":4641,"_type":177,"marks":4642,"text":4643},"b53b5f6d2f3a",[],"Year-to-date EBITDA of c.$100.5 million reflects an in-line trading result across all the Group's product groups and operating segments. Group EBITDA margin of c.13% has been achieved in the year-to-date.",[],{"_key":4646,"_type":173,"children":4647,"markDefs":4651,"style":182},"3739af1bb4e7",[4648],{"_key":4649,"_type":177,"marks":4650,"text":180},"7512e0a628fe",[],[],{"_key":4653,"_type":173,"children":4654,"markDefs":4659,"style":182},"9589ca0e3c10",[4655],{"_key":4656,"_type":177,"marks":4657,"text":4658},"6530b6f12830",[],"On 30 September 2025, total cash and bank \u002F (borrowings) was c.$47.1 million.",[],{"_key":4661,"_type":173,"children":4662,"markDefs":4666,"style":182},"21d8c4474bc1",[4663],{"_key":4664,"_type":177,"marks":4665,"text":180},"057aab2a295f",[],[],{"_key":4668,"_type":173,"children":4669,"markDefs":4674,"style":182},"044c1f075acf",[4670],{"_key":4671,"_type":177,"marks":4672,"text":4673},"cc0d077895cb",[],"Under the Company's share buyback programme, which began on 28 August 2025, 3,510,198 Ordinary shares have been purchased for cancellation, absorbing c.$15.6 million to 21 October 2025 before costs.",[],{"_key":4676,"_type":173,"children":4677,"markDefs":4681,"style":182},"3ee358150d74",[4678],{"_key":4679,"_type":177,"marks":4680,"text":180},"b5b665d993be",[],[],{"_key":4683,"_type":173,"children":4684,"markDefs":4689,"style":182},"793b74f9d72e",[4685],{"_key":4686,"_type":177,"marks":4687,"text":4688},"f935a621eeab",[],"The Group's balance sheet remains strong, with net assets on 30 September 2025 of c.$907 million. Working capital is marginally higher since the Half Year at c.$366.5 million, reflecting raw materials purchases made in the quarter for committed orders. Management anticipates that working capital will reduce by c.$25 million by the year-end.",[],{"_key":4691,"_type":173,"children":4692,"markDefs":4696,"style":182},"b8c8885bffa1",[4693],{"_key":4694,"_type":177,"marks":4695,"text":180},"e4b063e16249",[],[],{"_key":4698,"_type":173,"children":4699,"markDefs":4704,"style":182},"a3e78a8bb8e8",[4700],{"_key":4701,"_type":177,"marks":4702,"text":4703},"4fd7e9b9b753",[],"The 2025 interim dividend of 6.2 cents per share will be paid on Friday 31 October 2025, which will absorb c.$9.6 million.",[],{"_key":4706,"_type":173,"children":4707,"markDefs":4711,"style":182},"82cd4a6c5594",[4708],{"_key":4709,"_type":177,"marks":4710,"text":180},"9d62ee014a54",[],[],{"_key":4713,"_type":173,"children":4714,"markDefs":4719,"style":182},"bd402f36fb32",[4715],{"_key":4716,"_type":177,"marks":4717,"text":4718},"dbb016db8c04",[],"Capital expenditure for the full year is now anticipated to be c.$35-$40 million, comprising tangible and intangible expenditure.",[],{"_key":4721,"_type":173,"children":4722,"markDefs":4726,"style":182},"3761fc487474",[4723],{"_key":4724,"_type":177,"marks":4725,"text":180},"c7e8fc875c9f",[],[],{"_key":4728,"_type":173,"children":4729,"markDefs":4734,"style":182},"0fad1da428b9",[4730],{"_key":4731,"_type":177,"marks":4732,"text":4733},"0a3f7cdfc000",[],"The Group continues to report a strong tender pipeline across most product groups. New, large tenders are being assessed by management for the Group's OCTG product group. 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activities","24.7","163.8",{"_key":5866,"_type":193,"body":5867,"cta":6774},"c94987ae155c",[5868,5876,5884,5892,5899,5907,5914,5922,5930,5938,5945,5953,5961,5969,5976,5984,5992,6000,6007,6015,6023,6031,6039,6046,6054,6062,6070,6078,6085,6092,6100,6108,6116,6124,6132,6140,6147,6155,6162,6170,6177,6185,6193,6200,6208,6216,6223,6231,6238,6245,6253,6260,6268,6276,6283,6291,6298,6306,6314,6321,6329,6337,6345,6353,6360,6368,6375,6383,6391,6398,6406,6414,6421,6428,6436,6443,6451,6458,6466,6474,6481,6489,6497,6504,6511,6519,6526,6536,6543,6550,6557,6564,6574,6581,6588,6596,6603,6617,6632,6639,6647,6654,6661,6668,6675,6682,6689,6696,6703,6710,6717,6724,6731,6738,6745,6753,6760,6767],{"_key":5869,"_type":173,"children":5870,"markDefs":5875,"style":182},"a5e21a411338",[5871],{"_key":5872,"_type":177,"marks":5873,"text":5874},"4028a0c16c92",[],"Hunting’s EBITDA result in the period has been driven by strong results from the OCTG product group, and an improving Perforating Systems result, while Subsea, Advanced Manufacturing and Other Manufacturing report period-on-period declines due to contract timings and revenue recognition.",[],{"_key":5877,"_type":173,"children":5878,"markDefs":5883,"style":182},"4bc34a9e9dfb",[5879],{"_key":5880,"_type":177,"marks":5881,"text":5882},"baee041d0c90",[],"Interim dividend declared of 6.2 cents per share up 13% (H1 2024: 5.5 cents). The dividend payment date will be 31 October 2025, with a record date of 3 October 2025 and an ex-dividend date of 2 October 2025.",[],{"_key":5885,"_type":173,"children":5886,"markDefs":5891,"style":182},"3fb7013420f7",[5887],{"_key":5888,"_type":177,"marks":5889,"text":5890},"267f56f7805e",[],"Share buyback of up to $40m commencing today. The buyback will be completed in three tranches, and will conclude during 2026.",[],{"_key":5893,"_type":173,"children":5894,"markDefs":5898,"style":182},"9cf0b3a6d14a",[5895],{"_key":5896,"_type":177,"marks":5897,"text":180},"69753929458b",[],[],{"_key":5900,"_type":173,"children":5901,"markDefs":5906,"style":182},"98b3a3c2ee45",[5902],{"_key":5903,"_type":177,"marks":5904,"text":5905},"dac1e6ca2282",[179],"Delivering our Hunting 2030 Strategy",[],{"_key":5908,"_type":173,"children":5909,"markDefs":5913,"style":182},"0b9109479189",[5910],{"_key":5911,"_type":177,"marks":5912,"text":180},"0d0282f19fed",[],[],{"_key":5915,"_type":173,"children":5916,"markDefs":5921,"style":182},"8db31b84307d",[5917],{"_key":5918,"_type":177,"marks":5919,"text":5920},"64a47f63760c",[179,216],"Excellent strategic progress with $83m of acquisitions completed in the period to increase the profit and cash flow profile of the Group in the medium-term",[],{"_key":5923,"_type":173,"children":5924,"markDefs":5929,"style":182},"ffa2d868e179",[5925],{"_key":5926,"_type":177,"marks":5927,"text":5928},"8ef0e4a0c5a4",[216],"$64.8m acquisition of Flexible Engineered Solutions (Group) Holdings Limited completed in June 2025 to broaden subsea platform",[],{"_key":5931,"_type":173,"children":5932,"markDefs":5937,"style":182},"6be39efb33ac",[5933],{"_key":5934,"_type":177,"marks":5935,"text":5936},"e763fe577a49",[216],"$18.2m acquisition of Organic Oil Recovery technology in March 2025 to accelerate global commercialisation of its enhanced oil recovery solution",[],{"_key":5939,"_type":173,"children":5940,"markDefs":5944,"style":182},"dacf0ea979e8",[5941],{"_key":5942,"_type":177,"marks":5943,"text":180},"30cc8819acde",[],[],{"_key":5946,"_type":173,"children":5947,"markDefs":5952,"style":182},"b8231cc5d375",[5948],{"_key":5949,"_type":177,"marks":5950,"text":5951},"1f3314dfa9ec",[179,216],"$69m of new subsea orders secured in H1 2025 driving a strong sales order book",[],{"_key":5954,"_type":173,"children":5955,"markDefs":5960,"style":182},"75ca755c2617",[5956],{"_key":5957,"_type":177,"marks":5958,"text":5959},"d369ecd8c4d2",[],"$46m of titanium stress joint orders received for Gulf of Mexico and Black Sea",[],{"_key":5962,"_type":173,"children":5963,"markDefs":5968,"style":182},"3450e075e5a7",[5964],{"_key":5965,"_type":177,"marks":5966,"text":5967},"c60b0faf9705",[],"$23m of bespoke orders for Enpro’s proprietary equipment received for the North Sea",[],{"_key":5970,"_type":173,"children":5971,"markDefs":5975,"style":182},"ecc41cbc5ce0",[5972],{"_key":5973,"_type":177,"marks":5974,"text":180},"fdc5883fe9ec",[],[],{"_key":5977,"_type":173,"children":5978,"markDefs":5983,"style":182},"144698bec554",[5979],{"_key":5980,"_type":177,"marks":5981,"text":5982},"d4119e6c7ef6",[179,216],"Continued execution of OCTG and Subsea orders for key customers",[],{"_key":5985,"_type":173,"children":5986,"markDefs":5991,"style":182},"34fc29466ac5",[5987],{"_key":5988,"_type":177,"marks":5989,"text":5990},"24181a140985",[],"Faultless execution of orders for Kuwait Oil Company completed in May 2025, with strong margins delivered in final four shipments",[],{"_key":5993,"_type":173,"children":5994,"markDefs":5999,"style":182},"05e517fd5d87",[5995],{"_key":5996,"_type":177,"marks":5997,"text":5998},"a80e573da4d5",[],"Uaru and Yellowtail Titanium Stress Joint orders completed in June 2025 for ExxonMobil Guyana",[],{"_key":6001,"_type":173,"children":6002,"markDefs":6006,"style":182},"517adf409526",[6003],{"_key":6004,"_type":177,"marks":6005,"text":180},"2835191a9a9a",[],[],{"_key":6008,"_type":173,"children":6009,"markDefs":6014,"style":182},"2976298d3443",[6010],{"_key":6011,"_type":177,"marks":6012,"text":6013},"35c6c1fe87d2",[179,216],"Reshaped Hunting well-positioned to capture profitable growth through optimising our portfolio and operations",[],{"_key":6016,"_type":173,"children":6017,"markDefs":6022,"style":182},"019efd550569",[6018],{"_key":6019,"_type":177,"marks":6020,"text":6021},"81fb6bdd1596",[],"$13m divestment of low-margin Rival Downhole Tools investment",[],{"_key":6024,"_type":173,"children":6025,"markDefs":6030,"style":182},"a77e36995f18",[6026],{"_key":6027,"_type":177,"marks":6028,"text":6029},"ad0c789a5f6c",[],"Expanded cost reduction and restructuring of operating footprint in Europe with c.$11m of annualised cost savings now targeted from the consolidation of our Aberdeen operations",[],{"_key":6032,"_type":173,"children":6033,"markDefs":6038,"style":182},"f13c0fe91f45",[6034],{"_key":6035,"_type":177,"marks":6036,"text":6037},"700f5da8155d",[],"Commissioning of new facility in Dubai, UAE",[],{"_key":6040,"_type":173,"children":6041,"markDefs":6045,"style":182},"710e482eca10",[6042],{"_key":6043,"_type":177,"marks":6044,"text":180},"5e6161d361f8",[],[],{"_key":6047,"_type":173,"children":6048,"markDefs":6053,"style":182},"eaa69c2307c0",[6049],{"_key":6050,"_type":177,"marks":6051,"text":6052},"8265c9d43716",[179,216],"Enhanced capital allocation policy announced reflecting continued strategic execution",[],{"_key":6055,"_type":173,"children":6056,"markDefs":6061,"style":182},"a36b69963953",[6057],{"_key":6058,"_type":177,"marks":6059,"text":6060},"78a433af1094",[],"Strong financial performance and cash generation leading to period-end total cash and bank \u002F (borrowings) of $79.3m following deployment of $80.0m on acquisitions",[],{"_key":6063,"_type":173,"children":6064,"markDefs":6069,"style":182},"5335a3f57634",[6065],{"_key":6066,"_type":177,"marks":6067,"text":6068},"d9d2f0b8df80",[],"Enhanced capital allocation policy announced including increased dividend distributions to 13% growth p.a. from 10%",[],{"_key":6071,"_type":173,"children":6072,"markDefs":6077,"style":182},"82d3e4a493d6",[6073],{"_key":6074,"_type":177,"marks":6075,"text":6076},"7ad190d3653d",[],"$40m share buyback programme commencing today",[],{"_key":6079,"_type":173,"children":6080,"markDefs":6084,"style":182},"d63108e828b1",[6081],{"_key":6082,"_type":177,"marks":6083,"text":180},"88e5e9f5fe16",[],[],{"_key":6086,"_type":173,"children":6087,"markDefs":6091,"style":182},"6535e3d217f5",[6088],{"_key":6089,"_type":177,"marks":6090,"text":789},"5ede4333a6cf",[179],[],{"_key":6093,"_type":173,"children":6094,"markDefs":6099,"style":182},"fb27ed493ce6",[6095],{"_key":6096,"_type":177,"marks":6097,"text":6098},"88d4084fba67",[],"While commodity prices and the geopolitical landscape have been extremely volatile during the reporting period, oil and gas demand has remained steady and is likely to remain at a consistent level in the medium to long term.",[],{"_key":6101,"_type":173,"children":6102,"markDefs":6107,"style":182},"895dd5ecb369",[6103],{"_key":6104,"_type":177,"marks":6105,"text":6106},"5733b62f6143",[],"The Group’s tender pipeline remains in excess of $1bn, with opportunities for new OCTG and Subsea being pursued. Non-oil and gas sales are being progressed through our Advanced Manufacturing businesses, as recently exemplified by our orders from Pratt & Whitney.",[],{"_key":6109,"_type":173,"children":6110,"markDefs":6115,"style":182},"760c0e692852",[6111],{"_key":6112,"_type":177,"marks":6113,"text":6114},"6a6534627828",[],"The Directors continue to examine bolt-on acquisition opportunities across all of the Group’s key product groups but remain disciplined in pursuing those businesses with strong intellectual property and a financial profile which aligns with the Company’s 2030 strategic objectives.",[],{"_key":6117,"_type":173,"children":6118,"markDefs":6123,"style":182},"120ea30403b0",[6119],{"_key":6120,"_type":177,"marks":6121,"text":6122},"af86a9d74aa7",[],"With the increased dividend distribution and share buyback programme underway, our capital allocation policy supports the strong outlook for the Group as Hunting continues to support delivery of the world’s energy needs.",[],{"_key":6125,"_type":173,"children":6126,"markDefs":6131,"style":182},"79b5bbc8bc02",[6127],{"_key":6128,"_type":177,"marks":6129,"text":6130},"9f59efd3d05d",[],"In the near term, the geopolitical and macro-economic outlook remains choppy, given the actions of the OPEC+ cartel, coupled with some project deferrals reported by our clients. However, growth in the North American market continues to be pursued as longer lateral wells are drilled, demanding higher volumes of OCTG, coupled with a strengthening in gas-related drilling observed in a number of basins. Large OCTG tenders are likely to be issued across the Middle East in the second half of the year, while Subsea growth in South America and West Africa continue to provide opportunities.",[],{"_key":6133,"_type":173,"children":6134,"markDefs":6139,"style":182},"a895e7998966",[6135],{"_key":6136,"_type":177,"marks":6137,"text":6138},"1c3f9f4acf5d",[],"In summary, while there is a level of market uncertainty that may impact the Group’s full year outturn, the Directors reiterate current guidance, underpinned by the efficiencies achieved as part of the Group’s ongoing restructuring programme, with a full year EBITDA of between $135-$145m, supported by a strong balance sheet and net cash.",[],{"_key":6141,"_type":173,"children":6142,"markDefs":6146,"style":182},"d56660504663",[6143],{"_key":6144,"_type":177,"marks":6145,"text":180},"58d7f4741dfc",[],[],{"_key":6148,"_type":173,"children":6149,"markDefs":6154,"style":182},"bd8f25b05c2d",[6150],{"_key":6151,"_type":177,"marks":6152,"text":6153},"46736e22e7b8",[179],"Delivering against our Hunting 2030 strategy",[],{"_key":6156,"_type":173,"children":6157,"markDefs":6161,"style":182},"c465789b6098",[6158],{"_key":6159,"_type":177,"marks":6160,"text":180},"ee92fdd3d744",[],[],{"_key":6163,"_type":173,"children":6164,"markDefs":6169,"style":182},"01bc6edd4dfa",[6165],{"_key":6166,"_type":177,"marks":6167,"text":6168},"693d955796c7",[179],"1. Excellent strategic progress with $83.0m of acquisitions completed in the period to increase the profit and cash flow profile of the Group in the medium-term.",[],{"_key":6171,"_type":173,"children":6172,"markDefs":6176,"style":182},"0c2219a4d4de",[6173],{"_key":6174,"_type":177,"marks":6175,"text":180},"7ea7d6991e2c",[],[],{"_key":6178,"_type":173,"children":6179,"markDefs":6184,"style":182},"84bbd6de4b79",[6180],{"_key":6181,"_type":177,"marks":6182,"text":6183},"3b7992e865a3",[179],"$64.8m acquisition of Flexible Engineered Solutions (Group) Holdings Limited to enhance subsea product offering",[],{"_key":6186,"_type":173,"children":6187,"markDefs":6192,"style":182},"35ad471ed6c0",[6188],{"_key":6189,"_type":177,"marks":6190,"text":6191},"a72c2d573d1d",[],"On 24 June 2025, the Company announced the acquisition of Flexible Engineered Solutions (Group) Holdings Limited (“FES”) for a total consideration of $64.8m, net of cash received, including $3.0m contingent consideration in relation to the collection of certain receivables. FES owns proprietary fluid transfer technologies and system solutions for the offshore oil and gas and renewable energy markets, which are deployed on Floating Production, Storage and Offloading (“FPSOs”) vessels. The addition of FES to the Hunting Group not only adds new product lines to our Subsea product group but also enhances Hunting’s sales opportunities in the growing global FPSO and subsea infrastructure market. Strong cross-selling and product bundling opportunities for the Group’s existing businesses are also provided by this transaction, particularly in the higher-margin deepwater and ultra-deepwater sectors of the industry. With the completion of this transaction, Hunting now has four strong product platforms which cover the lifecycle of an offshore well and on which to capture additional long-term revenue and profit growth as well as providing new revenue opportunities for Hunting’s existing businesses.",[],{"_key":6194,"_type":173,"children":6195,"markDefs":6199,"style":182},"4677092aa3be",[6196],{"_key":6197,"_type":177,"marks":6198,"text":180},"f6a31778f368",[],[],{"_key":6201,"_type":173,"children":6202,"markDefs":6207,"style":182},"d136650de6d2",[6203],{"_key":6204,"_type":177,"marks":6205,"text":6206},"5273793fa1e2",[179],"$18.2m acquisition of Organic Oil Recovery technology",[],{"_key":6209,"_type":173,"children":6210,"markDefs":6215,"style":182},"9cc55c599bfa",[6211],{"_key":6212,"_type":177,"marks":6213,"text":6214},"e53578c7fdcf",[],"On 7 March 2025, Hunting announced the acquisition of the Organic Oil Recovery (“OOR”) technology from its founding shareholders for a consideration of $18.2m. The acquisition brings control of the commercialisation of this exciting, enhanced oil recovery solution, and follows the securing in H2 2024 of up to $60m of orders for deployment of the technology into North Sea projects over the next five years. In July 2025, a maiden treatment, which forms part of these orders, was deployed to a key client. The acquisition brings full ownership of the intellectual property into the Group, in addition to commercialisation rights in the key regions of North and South America, which was previously unavailable to the Group. Therefore, Hunting now has global market access to a large proportion of the existing oil reservoirs in production today. 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Orders for the Uaru and Yellowtail developments were delivered in the",[],{"_key":6346,"_type":173,"children":6347,"markDefs":6352,"style":182},"dccd54cc9d1b",[6348],{"_key":6349,"_type":177,"marks":6350,"text":6351},"a70826fd16ef",[],"period, with Hunting continuing work on titanium stress joints for the Whiptail development.",[],{"_key":6354,"_type":173,"children":6355,"markDefs":6359,"style":182},"6160d0b36bdf",[6356],{"_key":6357,"_type":177,"marks":6358,"text":180},"fb95af206de1",[],[],{"_key":6361,"_type":173,"children":6362,"markDefs":6367,"style":182},"0f1aa5c6469e",[6363],{"_key":6364,"_type":177,"marks":6365,"text":6366},"d0780cffa4fb",[179],"4. 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In addition to its most recent deployment in Guyana, the technology plays a vital role in major projects across the Gulf of Mexico, Brazil, and the Turkish area of the Black Sea—demonstrating Hunting’s ability to consistently deliver complex, high-specification components in technically demanding environments. 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Update","\u002Fnews\u002Facquisition-of-flexible-engineered-solutions-group-holdings-limited-fes-and-capital-allocation",{"_createdAt":7205,"_id":7206,"_rev":7207,"_type":168,"_updatedAt":5612,"content":7208,"introText":7292,"mainImage":7293,"publishedAt":7296,"slug":7297,"title":7299,"url":7300},"2025-05-08T14:18:16Z","d1315536-d84b-403d-b05c-ecc9b5baabda","Sy3FFEkt4VKop7rT0EK2CN",[7209,7272],{"_key":7210,"_type":193,"body":7211,"cta":7268,"introText":7269,"subHeading":7270,"title":7271},"aaabea45b2d5",[7212,7220,7228,7260],{"_key":7213,"_type":173,"children":7214,"markDefs":7219,"style":182},"b1216fc460fc",[7215],{"_key":7216,"_type":177,"marks":7217,"text":7218},"88a7dd5e85340",[],"In high-risk environments like well intervention or plug and abandonment, safety and precision are everything. This new solution removes hazardous materials from the cutting equation entirely. It is fully autonomous, battery-powered, and engineered for precise, reliable results with no need for reconfiguration between jobs.",[],{"_key":7221,"_type":173,"children":7222,"markDefs":7227,"style":182},"0a2d52fd3a55",[7223],{"_key":7224,"_type":177,"marks":7225,"text":7226},"d4282e1a525c",[],"Hunting’s partnership with Arkane represents more than just a new product. It’s a strategic expansion of our Well Intervention portfolio—delivering safer options to customers operating under stricter HSE requirements or in remote locations where explosive logistics create operational complexity.",[],{"_key":7229,"_type":173,"children":7230,"markDefs":7259,"style":182},"0b92eac7371b",[7231,7235,7239,7243,7247,7251,7255],{"_key":7232,"_type":177,"marks":7233,"text":7234},"6374f64524b7",[],"As a global leader with a 150+ year legacy, Hunting brings more than just a tool to market. Through our ",{"_key":7236,"_type":177,"marks":7237,"text":7238},"1ce853a0ea91",[179],"worldwide distribution network",{"_key":7240,"_type":177,"marks":7241,"text":7242},"5ffd218c3da4",[],", ",{"_key":7244,"_type":177,"marks":7245,"text":7246},"27f05ae26af7",[179],"extensive customer relationships",{"_key":7248,"_type":177,"marks":7249,"text":7250},"c5d437fd9eba",[],", and ",{"_key":7252,"_type":177,"marks":7253,"text":7254},"00f4a3313ef5",[179],"technical support hubs",{"_key":7256,"_type":177,"marks":7257,"text":7258},"c46a780dc88c",[]," in every major oilfield region—from North America and South America to the Middle East, Asia, and Europe—we are uniquely positioned to deliver this next-generation technology exactly where and when it’s needed.",[],{"_key":7261,"_type":173,"children":7262,"markDefs":7267,"style":182},"827e2873bdff",[7263],{"_key":7264,"_type":177,"marks":7265,"text":7266},"ee048cc68f59",[],"Whether your goal is to simplify logistics, meet regulatory requirements, streamline operations, or improve safety, Hunting's autonomous cutting tool helps you cut smarter and operate safer.",[],{"_type":144,"showCTA":7},"Hunting is proud to partner with Arkane Technology Ltd under an exclusive distribution agreement to bring a groundbreaking innovation to the oil and gas industry—an autonomous tubing cutter that transforms how operators approach downhole tubing cutting. Deployable on a variety of conveyance methods including slickline, this tool offers a clean, reliable alternative to explosive-based systems.","Introducing a New Era of Slickline Intervention","Smarter Cutting, Safer Operations",{"_key":7273,"_type":7274,"cta":7275,"listItems":7276,"title":7290,"type":2555,"width":7291},"6017aa2439dc","list",{"_type":144,"showCTA":7},[7277,7281,7284,7287],{"_key":7278,"_type":7279,"title":7280},"585ac32f3adc","item","No explosives or dangerous goods required",{"_key":7282,"_type":7279,"title":7283},"c877e4925dc1","Patented 3-axis cutting design ensures a clean, consistent cut",{"_key":7285,"_type":7279,"title":7286},"30d1f21e6983","Battery-powered and autonomous for efficient deployment",{"_key":7288,"_type":7279,"title":7289},"ae053aa5b50c","Minimal surface equipment needed - streamlining operations","Key Benefits","half","Smarter Cutting, Safer Operations: Introducing a New Era of Slickline Intervention",{"_type":146,"asset":7294},{"_ref":7295,"_type":141},"image-59c628c1365e4bddd8fbdadad74457d5d0fcbb8b-1200x628-png","2025-05-08T13:49:42.796Z",{"_type":9,"current":7298},"exclusive-technology-partnership-with-arkane-technology-ltd","Exclusive Technology Partnership with Arkane Technology Ltd.","\u002Fnews\u002Fexclusive-technology-partnership-with-arkane-technology-ltd",{"_createdAt":7302,"_id":7303,"_rev":7134,"_system":7304,"_type":168,"_updatedAt":116,"categories":7307,"introText":7312,"publishedAt":7313,"regnewslink":7314,"slug":7315,"title":7317,"url":7318},"2025-04-16T13:08:46Z","87657442-c461-407e-83eb-8819906a79d5",{"base":7305},{"id":7303,"rev":7306},"rn7WDDMThW1BTE5NGyxocv",[7308,7310],{"_key":7309,"_ref":1713,"_type":141},"39c2255ddbec",{"_key":7311,"_ref":5404,"_type":141},"655841049576","Hunting PLC (LSE:HTG) announces the results of voting on the resolutions at its Annual General Meeting (\"AGM\") held on Wednesday,16 April 2025, as set out in the AGM notice.","2025-04-16T13:08:15.793Z","https:\u002F\u002Fotp.tools.investis.com\u002Fclients\u002Fuk\u002Fhunting-plc1\u002Frns\u002Fregulatory-story.aspx?cid=501&newsid=1931040",{"_type":9,"current":7316},"results-of-annual-general-meeting","Results of Annual General Meeting","\u002Fnews\u002Fresults-of-annual-general-meeting",{"_createdAt":7320,"_id":7321,"_rev":7134,"_system":7322,"_type":168,"_updatedAt":116,"categories":7325,"introText":7328,"publishedAt":7329,"regnewslink":7330,"slug":7331,"tags":7333,"title":7334,"url":7335},"2025-04-15T14:20:05Z","49b93d45-391b-4210-adcb-4c9598e20a9f",{"base":7323},{"id":7321,"rev":7324},"rn7WDDMThW1BTE5NGzAX3s",[7326],{"_key":7327,"_ref":1713,"_type":141},"71cbdbf8e00e","Hunting PLC (LSE: HTG), the precision engineering group, issues the following Trading Update for Q1 2025, ahead of its Annual General Meeting that will take place today at 10:30a.m. BST in London.","2025-04-15T14:19:17.534Z","https:\u002F\u002Fotp.tools.investis.com\u002Fclients\u002Fuk\u002Fhunting-plc1\u002Frns\u002Fregulatory-story.aspx?cid=501&newsid=1930778",{"_type":9,"current":7332},"agm-and-q1-2025-trading-update",[],"AGM and Q1 2025 Trading Update","\u002Fnews\u002Fagm-and-q1-2025-trading-update",{"_createdAt":7337,"_id":7338,"_rev":7339,"_type":168,"_updatedAt":5612,"body":7340,"mainImage":7575,"publishedAt":7578,"slug":7579,"title":7581,"url":7582},"2025-04-06T19:05:07Z","cd42dbce-c3c6-431d-a51c-aca7f47433bb","pWgyghzhJBYjhJ3z5Nc8ro",[7341,7349,7357,7369,7377,7385,7397,7405,7413,7421,7429,7437,7445,7453,7461,7469,7477,7489,7497,7505,7513,7529,7537,7545,7553,7561,7568],{"_key":7342,"_type":173,"children":7343,"markDefs":7348,"style":182},"70b90ac0b0f2",[7344],{"_key":7345,"_type":177,"marks":7346,"text":7347},"81d5683de5190",[179],"Introduction and Background",[],{"_key":7350,"_type":173,"children":7351,"markDefs":7356,"style":182},"d600365545ab",[7352],{"_key":7353,"_type":177,"marks":7354,"text":7355},"e09b518c4e280",[],"With over 13 years of experience in the oil and gas industry, Chris Venske, the Director for the Organic Oil Recovery (OOR) product line, began his journey as a Design Engineer at Hunting. Initially trained in Mechanical Engineering, he was part of a team responsible for designing pressure control equipment and well intervention tools. However, his career took a significant turn six years ago when he was introduced to the OOR technology through Hunting’s Tek-Hub incubator programme.",[],{"_key":7358,"_type":173,"children":7359,"markDefs":7368,"style":182},"b684edbbc929",[7360,7364],{"_key":7361,"_type":177,"marks":7362,"text":7363},"de4d7cc5c0a20",[],"What attracted Chris to OOR was its ground-breaking approach to Enhanced Oil Recovery (EOR). Unlike traditional methods, OOR utilises naturally occurring microbiology within oil reservoirs, making it not only more efficient but also environmentally friendly. Chris says ",{"_key":7365,"_type":177,"marks":7366,"text":7367},"de4d7cc5c0a21",[216],"‘I was immediately drawn to its potential, recognising that its implementation method far surpasses anything currently available in the Enhanced Oil Recovery (EOR) market. As I delved deeper into the technology, I expanded my expertise beyond mechanical engineering, immersing myself in Reservoir Engineering, Petrophysics, and Microbiology.’",[],{"_key":7370,"_type":173,"children":7371,"markDefs":7376,"style":182},"5c11c39bd7b3",[7372],{"_key":7373,"_type":177,"marks":7374,"text":7375},"801a784c8a2e0",[],"The initial phase of Chris’ work with OOR involved him building a customer base across the Eastern Hemisphere, showcasing the technology’s capabilities in various oilfields. Today, following the acquisition, he leads a global team that is helping propel OOR technology to the forefront of the industry. With bases in Aberdeen, Dubai, Singapore, and Houston, alongside a state-of-the-art laboratory in Los Angeles, the goal is to drive the adoption of this proven technology, making cost-effective Enhanced Oil Recovery simple and accessible.",[],{"_key":7378,"_type":173,"children":7379,"markDefs":7384,"style":182},"eb8f8e965342",[7380],{"_key":7381,"_type":177,"marks":7382,"text":7383},"47a1a7d462d10",[179],"Hunting's Acquisition of OOR",[],{"_key":7386,"_type":173,"children":7387,"markDefs":7396,"style":182},"22293c5fc2af",[7388,7392],{"_key":7389,"_type":177,"marks":7390,"text":7391},"d31eabb335660",[],"Hunting’s acquisition of the company behind OOR technology was a strategic move to bring its proven, cost-effective solution to a larger global market. Chris says",{"_key":7393,"_type":177,"marks":7394,"text":7395},"d31eabb335661",[216]," ‘The reason behind the acquisition was clear—OOR technology delivers, measurable benefits to our customers. With Hunting’s support, we now have the ability to scale more effectively, leveraging Hunting’s strong brand, regional expertise, and well-established logistics network. This will significantly enhanced our ability to deploy solutions faster and more efficiently, ultimately providing a better overall service to our customers.’",[],{"_key":7398,"_type":173,"children":7399,"markDefs":7404,"style":182},"e2a569dfce76",[7400],{"_key":7401,"_type":177,"marks":7402,"text":7403},"9d2c36eaa86e0",[],"The integration of OOR into Hunting’s portfolio has also created synergies across product lines. One notable example is the ability to integrate OOR with Hunting’s Subsea Technologies division, enabling enhanced recovery solutions in subsea environments where traditional EOR methods often fall short. Additionally, Hunting’s strong relationships with major oil operators have given OOR a significant advantage in driving adoption of this innovative technology.",[],{"_key":7406,"_type":173,"children":7407,"markDefs":7412,"style":182},"8c8b77343f0e",[7408],{"_key":7409,"_type":177,"marks":7410,"text":7411},"6b2f2c1ab2b40",[179],"The Origin of OOR Technology",[],{"_key":7414,"_type":173,"children":7415,"markDefs":7420,"style":182},"8ce409283a26",[7416],{"_key":7417,"_type":177,"marks":7418,"text":7419},"18fffc2149560",[],"‘The story behind OOR is as unique as the technology itself. It all began with an unexpected source: koalas,’ Says Chris. Professor Alan Sheehy, while studying how these marsupials could digest eucalyptus leaves, discovered that certain microbiological species played a crucial role in breaking down the toxic oils within the leaves. This led to the realisation that similar microbes could be harnessed to improve oil recovery in reservoirs.",[],{"_key":7422,"_type":173,"children":7423,"markDefs":7428,"style":182},"6bf99135e17f",[7424],{"_key":7425,"_type":177,"marks":7426,"text":7427},"86d35673fcdb0",[],"Along with the Carroll family, Professor Sheehy spent the next decade developing a field-deployable version of the technology, one that used naturally occurring microbes within oil reservoirs to enhance oil recovery. This approach proved to be both effective and environmentally sustainable, offering a unique alternative to traditional recovery methods.",[],{"_key":7430,"_type":173,"children":7431,"markDefs":7436,"style":182},"18749beb3716",[7432],{"_key":7433,"_type":177,"marks":7434,"text":7435},"6b6de06e01e50",[],"Before being acquired by Hunting, the technology was refined and deployed successfully in hundreds of oilfields across the U.S. and Canada. It wasn’t long before it expanded globally, with Hunting taking on the role of sales arm for the technology in the Eastern Hemisphere. The result was widespread success, with deployments in over 20 countries across three continents.",[],{"_key":7438,"_type":173,"children":7439,"markDefs":7444,"style":182},"dbab0a7897b7",[7440],{"_key":7441,"_type":177,"marks":7442,"text":7443},"5497b288be7c0",[179],"OOR Technology: A Breakthrough in Oil Recovery",[],{"_key":7446,"_type":173,"children":7447,"markDefs":7452,"style":182},"32fbb21077b6",[7448],{"_key":7449,"_type":177,"marks":7450,"text":7451},"1ea00c3cd0fc0",[],"At its core, OOR is a unique method of Enhanced Oil Recovery (EOR) that has already been applied successfully in over 600 oilfields around the world. Unlike traditional EOR methods that rely on costly infrastructure, chemicals, or thermal treatments, OOR operates entirely within the natural ecology of the oil reservoir.",[],{"_key":7454,"_type":173,"children":7455,"markDefs":7460,"style":182},"bad330acecc8",[7456],{"_key":7457,"_type":177,"marks":7458,"text":7459},"114f3d581d160",[],"The process selectively stimulates specific species of native microbes using biodegradable, organic nutrients. These microbes undergo a transformation, migrating to the oil\u002Fwater interface where they temporarily reduce surface tension and mobilize trapped oil. This leads to significant improvements in oil recovery without the need for large-scale infrastructure changes.",[],{"_key":7462,"_type":173,"children":7463,"markDefs":7468,"style":182},"a9f54e6b4e3d",[7464],{"_key":7465,"_type":177,"marks":7466,"text":7467},"71af744a809c0",[],"One of the standout advantages of OOR is its ability to mitigate the formation of Hydrogen Sulfide (H₂S), a toxic by product often produced by Sulfate-Reducing Bacteria (SRBs). By encouraging beneficial microbes to outcompete SRBs, OOR not only improves oil recovery but also enhances safety and reduces operational costs.",[],{"_key":7470,"_type":173,"children":7471,"markDefs":7476,"style":182},"aa4faee4cda3",[7472],{"_key":7473,"_type":177,"marks":7474,"text":7475},"6ed96337a2b00",[179],"Addressing Industry Challenges",[],{"_key":7478,"_type":173,"children":7479,"markDefs":7488,"style":182},"e7a23577e121",[7480,7484],{"_key":7481,"_type":177,"marks":7482,"text":7483},"ae0f732400b00",[],"As the global oil industry faces mounting pressure to address resource depletion and environmental concerns, OOR presents a sustainable and cost-effective solution. Chris says ",{"_key":7485,"_type":177,"marks":7486,"text":7487},"ae0f732400b01",[216],"‘By maximizing the recovery of existing oil in place, OOR helps operators extend the productive life of their reservoirs and reduce the need for new drilling, ultimately minimizing environmental impact.’",[],{"_key":7490,"_type":173,"children":7491,"markDefs":7496,"style":182},"edd8fae69a74",[7492],{"_key":7493,"_type":177,"marks":7494,"text":7495},"c7567e35e5070",[],"Moreover, OOR’s ability to reduce H₂S formation lowers corrosion in pipelines and facilities, further contributing to its environmental and safety benefits. A recent deployment in Oman highlighted these advantages, where a customer saw a 50% increase in field production rates across two separate reservoirs after implementing OOR. This success story, which will be presented at OPES in Muscat this May, underscores the potential of OOR to revolutionise oilfield performance.",[],{"_key":7498,"_type":173,"children":7499,"markDefs":7504,"style":182},"440adf44d1cf",[7500],{"_key":7501,"_type":177,"marks":7502,"text":7503},"a57b062527bb0",[179],"The Future of OOR",[],{"_key":7506,"_type":173,"children":7507,"markDefs":7512,"style":182},"d1d91717136c",[7508],{"_key":7509,"_type":177,"marks":7510,"text":7511},"ea1298b671a50",[],"Looking ahead, the future of OOR technology is bright. With growing adoption across global oilfields, the focus is now on further enhancing the technology’s performance. OOR’s team is investing in microbiology research at their California laboratory to optimise nutrient formulations and improve deployment efficiency, ensuring that the technology remains adaptable to a variety of reservoir conditions.",[],{"_key":7514,"_type":173,"children":7515,"markDefs":7528,"style":182},"2b7206e2589b",[7516,7520,7524],{"_key":7517,"_type":177,"marks":7518,"text":7519},"7e21fb17123d0",[],"Regionally, the company is focusing on expanding its presence in North and South America, tapping into Hunting’s established relationships to bring OOR to a broader customer base. While challenges remain, such as overcoming industry hesitancy toward new technologies, Chris remains optimistic, ",{"_key":7521,"_type":177,"marks":7522,"text":7523},"7e21fb17123d1",[216],"‘we are seeing growing confidence in OOR as repeatable results continue to validate its effectiveness, therefore, demonstrating consistent, large-scale success remains a priority.’",{"_key":7525,"_type":177,"marks":7526,"text":7527},"7e21fb17123d2",[]," With continued success and ongoing refinements, OOR is well-positioned to play a central role in the future of oil recovery.",[],{"_key":7530,"_type":173,"children":7531,"markDefs":7536,"style":182},"d64e03dbd55d",[7532],{"_key":7533,"_type":177,"marks":7534,"text":7535},"45ee75625abf0",[179],"Preparing for the Future of Oil and Gas",[],{"_key":7538,"_type":173,"children":7539,"markDefs":7544,"style":182},"d45f768ee918",[7540],{"_key":7541,"_type":177,"marks":7542,"text":7543},"a67d5d57929a0",[],"The next 5 to 10 years in the oil and gas industry will be defined by the pursuit of efficiency. Technologies that maximize oil recovery using existing infrastructure will be at the forefront. OOR’s ability to enhance recovery without the need for expensive new facilities or complex operational changes positions it as a key player in this evolution.",[],{"_key":7546,"_type":173,"children":7547,"markDefs":7552,"style":182},"5dd8b7eac449",[7548],{"_key":7549,"_type":177,"marks":7550,"text":7551},"1cca1f4a914a0",[],"Ultimately, Chris believes that while technology drives innovation, the people behind it are just as critical. As OOR continues to grow, the company is actively seeking talented individuals who share the vision for a more sustainable and efficient future in oil recovery.",[],{"_key":7554,"_type":173,"children":7555,"markDefs":7560,"style":182},"1e65533ad337",[7556],{"_key":7557,"_type":177,"marks":7558,"text":7559},"6dde937246770",[],"As OOR moves forward, it remains committed to pushing the boundaries of what’s possible in oil recovery. With ongoing advancements, global expansion, and a focus on sustainability, OOR is set to reshape the future of the oil and gas industry, one reservoir at a time.",[],{"_key":7562,"_type":173,"children":7563,"markDefs":7567,"style":182},"5f46fb052b0d",[7564],{"_key":7565,"_type":177,"marks":7566,"text":180},"83192cf113f00",[],[],{"_key":7569,"_type":173,"children":7570,"markDefs":7574,"style":182},"8e891b4721cb",[7571],{"_key":7572,"_type":177,"marks":7573,"text":180},"f9af73be81c30",[],[],{"_type":146,"asset":7576},{"_ref":7577,"_type":141},"image-6ad8de7dbbd6ae2461862381b4ce115e72c495cb-6286x4193-jpg","2025-04-06T19:04:42.000Z",{"_type":9,"current":7580},"unlocking-the-future-of-oil-recovery-the-rise-of-organic-oil-recovery-oor","Unlocking the Future of Oil Recovery: The Rise of Organic Oil Recovery (OOR)","\u002Fnews\u002Funlocking-the-future-of-oil-recovery-the-rise-of-organic-oil-recovery-oor",{"_createdAt":7584,"_id":7585,"_rev":7134,"_system":7586,"_type":168,"_updatedAt":116,"categories":7589,"introText":7592,"publishedAt":7593,"regnewslink":7594,"slug":7595,"title":7597,"url":7598},"2025-03-31T08:32:20Z","ef7dfef5-69b8-4329-828b-da844c5f3551",{"base":7587},{"id":7585,"rev":7588},"rn7WDDMThW1BTE5NGzE3AH",[7590],{"_key":7591,"_ref":1713,"_type":141},"b076ecaad478","Hunting PLC (LSE: HTG), the precision engineering group, today announces an update to the Group's Subsea Technologies sales order book, following a number of new contract wins.","2025-03-31T08:30:02.064Z","https:\u002F\u002Fotp.tools.investis.com\u002Fclients\u002Fuk\u002Fhunting-plc1\u002Frns\u002Fregulatory-story.aspx?cid=501&newsid=1923147",{"_type":9,"current":7596},"subsea-technologies-new-contract-wins-totalling-usd38-million","Subsea Technologies New Contract Wins Totalling $38 million","\u002Fnews\u002Fsubsea-technologies-new-contract-wins-totalling-usd38-million",{"_createdAt":7600,"_id":7601,"_rev":7602,"_system":7603,"_type":168,"_updatedAt":7606,"categories":7607,"content":7608,"introText":7614,"publishedAt":7615,"slug":7616,"tags":7618,"title":7619,"url":7620},"2025-03-27T20:20:55Z","777885bb-d8bc-414c-b910-0ee38ed972d2","DBMO57ZIr7O8zFikjHYYSt",{"base":7604},{"id":7601,"rev":7605},"7gSDmD9Fz4hgCtCZXoJClO","2025-08-06T08:24:52Z",[],[7609],{"_key":7610,"_type":6777,"cta":7611,"title":7612,"video":7613},"2dca6d70bb16",{"_type":144,"showCTA":7},"Revolutionizing Subsea Technologies: Celebrating the 100th FAM Milestone with Neil Rogerson","https:\u002F\u002Fwww.youtube.com\u002Fwatch?v=MVHN5nQknt4&t=178s","During a podcast interview, Neil Rogerson discusses Hunting Subsea Technologies’ recent industry milestone.","2025-03-27T20:07:11.589Z",{"_type":9,"current":7617},"celebrating-the-100th-fam-milestone-with-neil-rogerson",[],"Celebrating the 100th FAM Milestone with Neil Rogerson","\u002Fnews\u002Fcelebrating-the-100th-fam-milestone-with-neil-rogerson",{"_createdAt":7622,"_id":7623,"_rev":7602,"_type":168,"_updatedAt":7624,"publishedAt":7625,"slug":7626,"title":7628,"url":7629},"2025-03-27T12:23:02Z","277bffd8-4e1b-49c8-b731-5342f56cc955","2025-04-24T07:28:36Z","2025-03-27T12:22:46.988Z",{"_type":9,"current":7627},"hunting-review-winter-summer","Hunting Review - Winter\u002FSummer","\u002Fnews\u002Fhunting-review-winter-summer",{"_createdAt":7631,"_id":7632,"_rev":7339,"_system":7633,"_type":168,"_updatedAt":5612,"body":7636,"categories":7765,"introText":7766,"mainImage":7767,"publishedAt":7770,"slug":7771,"title":7773,"url":7774},"2025-03-14T14:51:37Z","25c32fa9-1440-47c0-b0ec-8b76a708080b",{"base":7634},{"id":7632,"rev":7635},"Tu5q1HkpmQs4tuIxBgVtba",[7637,7645,7653,7661,7669,7677,7685,7693,7701,7709,7717,7725,7733,7741,7749,7757],{"_key":7638,"_type":173,"children":7639,"markDefs":7644,"style":182},"c1c72f92625f",[7640],{"_key":7641,"_type":177,"marks":7642,"text":7643},"529ddc15a2c9",[],"Dr. Tatiana Lezama, Organic Oil Recovery Project Engineer, bringing expertise in subsurface and production disciplines. She recently earned her PhD in Petroleum Engineering from the University of Aberdeen, where she advanced research in environmentally friendly emulsification and demulsification processes. With experience at international service companies and a national oil company (NOC), she is based in our Aberdeen office, supporting major North Sea projects and delivering solutions for our UK-based customers. ",[],{"_key":7646,"_type":173,"children":7647,"markDefs":7652,"style":182},"cf8ff6c6d28e",[7648],{"_key":7649,"_type":177,"marks":7650,"text":7651},"b13315107602",[],"Dr. Lezama’s most notable accomplishment is earning her Ph.D. in Petroleum Engineering during the unexpected disruptions of the COVID-19 pandemic. When her university lab shut down for months, her research faced the possibility of indefinite delay. Rather than be deterred, she faced the challenge with resourcefulness and determination.",[],{"_key":7654,"_type":173,"children":7655,"markDefs":7660,"style":182},"8f7a92d457ce",[7656],{"_key":7657,"_type":177,"marks":7658,"text":7659},"d0efb26515020",[],"\"That period taught me how to adapt when things are out of my control,\" she shares. \"Finishing my degree despite those setbacks reinforced my ability to stay organized, solve problems creatively, and persist even when the odds seemed daunting.\"",[],{"_key":7662,"_type":173,"children":7663,"markDefs":7668,"style":182},"9fea1eef5005",[7664],{"_key":7665,"_type":177,"marks":7666,"text":7667},"d8f1d99e6bb00",[],"Now, she applies those same skills to her growing career in energy. Her resilience has become not just a personal strength but an inspiration for others who follow in her footsteps.",[],{"_key":7670,"_type":173,"children":7671,"markDefs":7676,"style":182},"b401f131ec9e",[7672],{"_key":7673,"_type":177,"marks":7674,"text":7675},"75a2fb143f160",[179],"Women Redefining the Energy Sector",[],{"_key":7678,"_type":173,"children":7679,"markDefs":7684,"style":182},"5c470645927b",[7680],{"_key":7681,"_type":177,"marks":7682,"text":7683},"ca5afb747a520",[],"The energy sector has long been male-dominated, but Dr. Lezama takes pride in the growing number of women in leadership, technical, and operational roles. “We’re seeing real progress,” she says. “More companies are prioritizing diversity and inclusion, and that’s making a difference.”",[],{"_key":7686,"_type":173,"children":7687,"markDefs":7692,"style":182},"d5d3f1038f3c",[7688],{"_key":7689,"_type":177,"marks":7690,"text":7691},"1506ece176f80",[],"Her contributions extend well beyond her technical expertise. Whether mentoring colleagues, collaborating with peers, or advising university students, Dr. Lezama is deeply committed to elevating others. “I want to show the next generation of women that energy is a field where they belong,” she affirms.",[],{"_key":7694,"_type":173,"children":7695,"markDefs":7700,"style":182},"23adaf840d0e",[7696],{"_key":7697,"_type":177,"marks":7698,"text":7699},"afc9f0e0e2f70",[],"Her first offshore assignment was pivotal in challenging stereotypes about gender and capability. “I was nervous about how I would fit into a traditionally male environment,” she recalls. “But the team was incredibly supportive, and I quickly realized that many of the barriers we face stem from assumptions rather than reality. Pushing past those fears opens up possibilities you never imagined.”",[],{"_key":7702,"_type":173,"children":7703,"markDefs":7708,"style":182},"a7851c6e6345",[7704],{"_key":7705,"_type":177,"marks":7706,"text":7707},"e706ec3da21d0",[179],"Unlocking Opportunity for All",[],{"_key":7710,"_type":173,"children":7711,"markDefs":7716,"style":182},"2542ed517e31",[7712],{"_key":7713,"_type":177,"marks":7714,"text":7715},"5cac7408f4f30",[],"Dr. Lezama believes achieving gender equality requires not only organizational change but also a cultural shift beginning with education. “We need to dismantle outdated notions of ‘girl jobs’ versus ‘boy jobs’ early on,” she stresses. “When we show girls that engineering and energy are viable, impactful career paths, we expand their horizons and their confidence.”",[],{"_key":7718,"_type":173,"children":7719,"markDefs":7724,"style":182},"1ac03f3de47f",[7720],{"_key":7721,"_type":177,"marks":7722,"text":7723},"454c802fe59a0",[],"Mentorship programs, internships, and hands-on industry exposure are critical to breaking down barriers. Dr. Lezama frequently speaks to students, sharing her experiences and opening doors to opportunities they might not have considered. “Representation matters,” she emphasizes. “When young women see someone who looks like them succeeding in this field, it plants a seed of possibility.”",[],{"_key":7726,"_type":173,"children":7727,"markDefs":7732,"style":182},"9ef104aa7fd5",[7728],{"_key":7729,"_type":177,"marks":7730,"text":7731},"e956830db2960",[],"Her advice to women entering male-dominated industries is both practical and empowering. “You’ll face challenges, but focus on your work and keep learning. Build a support network, seek guidance when you need it, and don’t be afraid to take risks,” she advises. “The most important thing you can do is believe in your ability to contribute and thrive, even when the odds feel stacked against you.”",[],{"_key":7734,"_type":173,"children":7735,"markDefs":7740,"style":182},"57df1dfb5d05",[7736],{"_key":7737,"_type":177,"marks":7738,"text":7739},"e2313244e02e0",[179],"A Catalyst for Equality",[],{"_key":7742,"_type":173,"children":7743,"markDefs":7748,"style":182},"3e4bac22e967",[7744],{"_key":7745,"_type":177,"marks":7746,"text":7747},"9763dd98e7e90",[],"Dr. Tatiana Lezama’s story is an inspiring testament to what’s possible when courage intersects with opportunity. Her persistence, leadership, and passion for uplifting others make her a trailblazer in the energy sector.",[],{"_key":7750,"_type":173,"children":7751,"markDefs":7756,"style":182},"d6473e134968",[7752],{"_key":7753,"_type":177,"marks":7754,"text":7755},"cb46b5aaa1bb0",[],"“We’ve made incredible strides,” she says, “but there’s still more to be done. By supporting each other, breaking down stereotypes, and ensuring equal opportunities for all, we can create a world where equality thrives.”",[],{"_key":7758,"_type":173,"children":7759,"markDefs":7764,"style":182},"fa0d547100a7",[7760],{"_key":7761,"_type":177,"marks":7762,"text":7763},"ffeadf2095760",[],"Dr. Lezama’s remarkable journey highlights the progress we can achieve and serves as a call to action. Her story challenges us to keep pushing forward—for all women and girls everywhere.",[],[],"Dr. Lezama’s approach to overcoming challenges and her unwavering commitment to progress highlight the power of resilience and ambition. Her story is not just a celebration of achievement but a powerful reminder of the limitless potential in all of us to strive for excellence and challenge boundaries.",{"_type":146,"asset":7768},{"_ref":7769,"_type":141},"image-cf5381c1a15531cb0618da4f45eb32723c3108ee-2000x1326-png","2025-03-21T08:39:00.000Z",{"_type":9,"current":7772},"the-power-of-resilience","The Power of Resilience","\u002Fnews\u002Fthe-power-of-resilience",{"_createdAt":7776,"_id":7777,"_rev":7134,"_type":168,"_updatedAt":116,"categories":7778,"introText":7783,"publishedAt":7784,"regnewslink":7785,"slug":7786,"tags":7788,"title":7791,"url":7792},"2025-03-18T16:32:15Z","7dd2e9e9-b107-45e4-82f4-1261e066da3f",[7779,7781],{"_key":7780,"_ref":1713,"_type":141},"f0af07e92f79",{"_key":7782,"_ref":5404,"_type":141},"d71f479a7377","Hunting PLC (LSE:HTG), the precision engineering group, released its full year results for the year ended 31 December 2024 on Thursday 6 March 2025.","2025-03-18T16:31:39.974Z","https:\u002F\u002Fotp.tools.investis.com\u002Fclients\u002Fuk\u002Fhunting-plc1\u002Frns\u002Fregulatory-story.aspx?cid=501&newsid=1919013",{"_type":9,"current":7787},"annual-report-and-accounts-2024-and-notice-of-annual-general-meeting",[7789],{"_key":7790,"_ref":7180,"_type":141},"1d966cb97e60","Annual Report and Accounts 2024 and Notice of Annual General Meeting","\u002Fnews\u002Fannual-report-and-accounts-2024-and-notice-of-annual-general-meeting",{"_createdAt":7794,"_id":7795,"_rev":7134,"_type":168,"_updatedAt":116,"categories":7796,"introText":7799,"publishedAt":7800,"regnewslink":7801,"slug":7802,"title":7804,"url":7805},"2025-03-18T16:03:54Z","93aaa90a-8cae-4e13-aafd-dab4d9d231ea",[7797],{"_key":7798,"_ref":1713,"_type":141},"82cc3426a8c5","Hunting PLC (LSE: HTG), the precision engineering group, today issues an update regarding the restructuring of the EMEA operating segment, which was previously announced in January 2025.","2025-03-18T16:02:44.414Z","https:\u002F\u002Fotp.tools.investis.com\u002Fclients\u002Fuk\u002Fhunting-plc1\u002Frns\u002Fregulatory-story.aspx?cid=501&newsid=1919010",{"_type":9,"current":7803},"emea-restructuring-update","EMEA Restructuring Update","\u002Fnews\u002Femea-restructuring-update",{"_createdAt":7807,"_id":7808,"_rev":7809,"_type":168,"_updatedAt":116,"categories":7810,"introText":7815,"publishedAt":7816,"regnewslink":7817,"slug":7818,"title":7820,"url":7821},"2025-03-07T08:22:58Z","fdab2111-ac32-4d83-97e3-c479f49d3f5e","pWgyghzhJBYjhJ3z5NcC7S",[7811,7813],{"_key":7812,"_ref":1713,"_type":141},"3705d050b67f",{"_key":7814,"_ref":5404,"_type":141},"3ee29389ccc4","Hunting PLC (LSE: HTG), the precision engineering group, today announces the acquisition of the Organic Oil Recovery (\"OOR\") technology from its founding shareholders, for a consideration of $17.5 million.","2025-03-07T07:30:00.000Z","https:\u002F\u002Fotp.tools.investis.com\u002Fclients\u002Fuk\u002Fhunting-plc1\u002Frns\u002Fregulatory-story.aspx?cid=501&newsid=1915471",{"_type":9,"current":7819},"acquisition-of-organic-oil-recovery-technology-for-usd17-5-million","Acquisition of Organic Oil Recovery technology for $17.5 million","\u002Fnews\u002Facquisition-of-organic-oil-recovery-technology-for-usd17-5-million",{"_createdAt":7823,"_id":7824,"_rev":7602,"_system":7825,"_type":168,"_updatedAt":7828,"introText":7829,"publishedAt":7830,"regnewslink":7831,"slug":7832,"title":7834,"url":7835},"2025-03-06T07:09:33Z","7b5db8f6-3fdc-4296-a634-ddff5a276032",{"base":7826},{"id":7824,"rev":7827},"BuHcHKzmFISpwziyvq4SyX","2025-08-06T08:30:14Z","LONDON, England. Hunting PLC (LSE:HTG), the precision engineering group, today announces its results for the year ended 31 December 2024.","2025-03-05T19:55:34.780Z","https:\u002F\u002Fotp.tools.investis.com\u002Fclients\u002Fuk\u002Fhunting-plc1\u002Frns\u002Fregulatory-story.aspx?cid=501&newsid=1914974",{"_type":9,"current":7833},"results-for-the-year-ended-31-december-2024","Results for the year ended 31 December 2024  ","\u002Fnews\u002Fresults-for-the-year-ended-31-december-2024",{"_createdAt":7837,"_id":7838,"_rev":7809,"_type":168,"_updatedAt":116,"body":7839,"categories":7908,"introText":7913,"publishedAt":7914,"slug":7915,"tags":7917,"title":7920,"url":7921},"2025-03-04T09:24:48Z","0709cb81-bf20-41bb-9bb0-8d3ad51087a9",[7840,7848,7855,7863,7870,7878,7885,7893,7900],{"_key":7841,"_type":173,"children":7842,"markDefs":7847,"style":182},"2316027cef4b",[7843],{"_key":7844,"_type":177,"marks":7845,"text":7846},"514fce0a8c9c0",[],"Hunting Subsea Technologies is proud to announce the delivery of its 100th Flow Access Module (FAM), marking a significant milestone in the company's history. Since the first FAM installation in the Gulf of Mexico (GOM) in 2016, Hunting Subsea Technologies has expanded its global FAM footprint, with installations in West Africa, Europe and most recently South America, which is viewed as a strategic growth area for the technology.",[],{"_key":7849,"_type":173,"children":7850,"markDefs":7854,"style":182},"671a860bc7f4",[7851],{"_key":7852,"_type":177,"marks":7853,"text":180},"ef40462181b40",[],[],{"_key":7856,"_type":173,"children":7857,"markDefs":7862,"style":182},"a840feadfe9e",[7858],{"_key":7859,"_type":177,"marks":7860,"text":7861},"32f4777b16e90",[],"Hunting delivered its first FAM to Beacon Offshore Energy LLC, a key partner, in 2019. Another 15 FAMs have since been delivered or ordered for multiple Beacon projects, including recent installations in the Winterfell and Zephyrus fields.",[],{"_key":7864,"_type":173,"children":7865,"markDefs":7869,"style":182},"2a37312108fb",[7866],{"_key":7867,"_type":177,"marks":7868,"text":180},"b2163532e0310",[],[],{"_key":7871,"_type":173,"children":7872,"markDefs":7877,"style":182},"220068ba093c",[7873],{"_key":7874,"_type":177,"marks":7875,"text":7876},"5517cf115b6c0",[],"Standardization is a key driver for the use of FAMs, enabling the selection of standard, fast-track subsea hardware while retaining the flexibility to add project-specific technology as needed. This FAM technology ensures that Beacon and other customers can meet project schedule and economic demands efficiently and effectively.",[],{"_key":7879,"_type":173,"children":7880,"markDefs":7884,"style":182},"a79e536b8b48",[7881],{"_key":7882,"_type":177,"marks":7883,"text":180},"73d8fa0a2e250",[],[],{"_key":7886,"_type":173,"children":7887,"markDefs":7892,"style":182},"15dca93329d1",[7888],{"_key":7889,"_type":177,"marks":7890,"text":7891},"ea23380673bc0",[],"Beacon's adoption of FAM technology aligns with their strategy of de-risking project delivery by taking long-lead technology\u002Fhardware off the critical path of tree installation. This approach allows the installation of XTs and Jumpers, with the flexibility to deploy FAMs when specific technologies, such as multiphase flow meters (MPFM), are needed or become available. The flexibility of FAMs also maximizes the opportunity for hardware adaptation, providing the option to move or change out the technology packaged within the FAM as operating conditions change or technology advances through the life of a field.",[],{"_key":7894,"_type":173,"children":7895,"markDefs":7899,"style":182},"4aef161ee9d2",[7896],{"_key":7897,"_type":177,"marks":7898,"text":180},"a22684f68ed80",[],[],{"_key":7901,"_type":173,"children":7902,"markDefs":7907,"style":182},"6dc54dd317cc",[7903],{"_key":7904,"_type":177,"marks":7905,"text":7906},"da0adbab92c80",[],"As Hunting Subsea Technologies celebrates this milestone, the company remains committed to delivering excellence in subsea technology. With a focus on broadening our technology and systems offering and addressing the needs of the global subsea market, Hunting Subsea Technologies is poised to continue building on its position as a leader in the industry.",[],[7909,7911],{"_key":7910,"_ref":5404,"_type":141},"dfd6db5fb476",{"_key":7912,"_ref":1713,"_type":141},"3bd5d1b1c2fc","Subsea Technologies is proud to announce the delivery of its 100th Flow Access Module (FAM), marking a significant milestone in the company's history. ","2025-03-04T09:24:30.634Z",{"_type":9,"current":7916},"subsea-technologies-celebrates-milestone",[7918],{"_key":7919,"_ref":7180,"_type":141},"d606b08bd998","Subsea Technologies Celebrates Milestone","\u002Fnews\u002Fsubsea-technologies-celebrates-milestone",{"_createdAt":7923,"_id":7924,"_rev":7602,"_system":7925,"_type":168,"_updatedAt":7928,"introText":7929,"publishedAt":7930,"regnewslink":7931,"slug":7932,"title":7934,"url":7935},"2025-03-03T07:15:29Z","5d31a921-be3b-4279-b92d-15dce2312b44",{"base":7926},{"id":7924,"rev":7927},"qgIMK6LFLJ3iEXzewZc9L1","2025-08-06T08:30:56Z","Hunting PLC (LSE: HTG), the precision engineering group, today announces the appointment of Catherine (\"Cathy\") Krajicek as a new independent, non-executive Director of the Company, with immediate effect.","2025-03-03T07:13:29.682Z","https:\u002F\u002Fotp.tools.investis.com\u002Fclients\u002Fuk\u002Fhunting-plc1\u002Frns\u002Fregulatory-story.aspx?cid=501&newsid=1913592",{"_type":9,"current":7933},"appointment-of-non-executive-director","Appointment of non-executive Director","\u002Fnews\u002Fappointment-of-non-executive-director",{"_createdAt":7937,"_id":7938,"_rev":7939,"_type":168,"_updatedAt":7940,"introText":7941,"publishedAt":7942,"regnewslink":7943,"slug":7944,"title":7946,"url":7947},"2025-03-03T07:14:58Z","22d5dc7f-2755-4de8-b235-45e3fd40cbdc","DBMO57ZIr7O8zFikjHYUEq","2025-03-03T10:43:06Z","Hunting PLC (LSE: HTG), the precision engineering group, today announces the completion of the sale of its 23% equity investment in Rival Downhole Tools L.C. (\"Rival\"), an associate company, to a third party, for a consideration of $13.1 million.","2025-03-03T07:10:00.000Z","https:\u002F\u002Fotp.tools.investis.com\u002Fclients\u002Fuk\u002Fhunting-plc1\u002Frns\u002Fregulatory-story.aspx?cid=501&newsid=1913511",{"_type":9,"current":7945},"sale-of-associate-company-rival-downhole-tools-l-c","Sale of Associate Company Rival Downhole Tools L.C.","\u002Fnews\u002Fsale-of-associate-company-rival-downhole-tools-l-c",{"_createdAt":7949,"_id":7950,"_rev":5608,"_type":168,"_updatedAt":5612,"content":7951,"introText":8098,"mainImage":8099,"publishedAt":8108,"slug":8109,"title":8111,"url":8112},"2025-03-19T17:51:42Z","04a7c8bd-6b33-4833-a5dc-6d0e0cee8988",[7952],{"_key":7953,"_type":193,"body":7954,"cta":8097},"f5f74a7b000d",[7955,7985,7993,8001,8009,8017,8025,8033,8041,8049,8057,8065,8073,8081,8089],{"_key":7956,"_type":173,"children":7957,"markDefs":7980,"style":182},"59c6ed4f264e",[7958,7962,7967,7971,7976],{"_key":7959,"_type":177,"marks":7960,"text":7961},"56e7861639050",[],"LONDON--(",{"_key":7963,"_type":177,"marks":7964,"text":7966},"8bd2c8911a45",[7965],"d68142686e4e","BUSINESS WIRE",{"_key":7968,"_type":177,"marks":7969,"text":7970},"56e7861639052",[],")--Hunting PLC (LSE: HTG), the precision engineering group, today announces the acquisition of the ",{"_key":7972,"_type":177,"marks":7973,"text":7975},"62258318db19",[7974],"90fbc5dee302","Organic Oil Recovery (“OOR”)",{"_key":7977,"_type":177,"marks":7978,"text":7979},"85240f89758b",[]," technology from its founding shareholders, for a consideration of $17.5 million.",[7981,7983],{"_key":7965,"_type":138,"href":7982},"https:\u002F\u002Fwww.businesswire.com\u002Fnews\u002Fhome\u002F20250307773077\u002Fen\u002FHunting-PLC-Hunting-or-the-Company-Acquisition-of-Organic-Oil-Recovery-Technology-for-%2417.5-Million",{"_key":7974,"_type":138,"href":7984},"https:\u002F\u002Fhuntingplc.com\u002Fproducts-services\u002Forganic-oil-recovery",{"_key":7986,"_type":173,"children":7987,"markDefs":7992,"style":182},"49d290c0ce33",[7988],{"_key":7989,"_type":177,"marks":7990,"text":7991},"23d17aac468a0",[],"Hunting has acquired the entire portfolio of intellectual property, comprising over 25 discreet patents, the distribution rights for the technology, and the laboratory located in California, US. Following the acquisition, the Company will hold the global rights for the OOR technology and is now well placed to further accelerate commercialisation across North America and the rest of the world.",[],{"_key":7994,"_type":173,"children":7995,"markDefs":8000,"style":182},"d11acaa5486c",[7996],{"_key":7997,"_type":177,"marks":7998,"text":7999},"46b04a0fa0710",[],"OOR is an enhanced oil recovery technology, which provides the following benefits to operators:",[],{"_key":8002,"_type":173,"children":8003,"level":955,"listItem":2555,"markDefs":8008,"style":182},"7d82c63da6cf",[8004],{"_key":8005,"_type":177,"marks":8006,"text":8007},"29cf183de63b0",[],"It improves ultimate recovery of oil reserves from a well;",[],{"_key":8010,"_type":173,"children":8011,"level":955,"listItem":2555,"markDefs":8016,"style":182},"5a788608ac79",[8012],{"_key":8013,"_type":177,"marks":8014,"text":8015},"3888bcd18f6b0",[],"Is a cost-efficient technology that reduces capex requirements and is simple to deploy;",[],{"_key":8018,"_type":173,"children":8019,"level":955,"listItem":2555,"markDefs":8024,"style":182},"8788821a6e29",[8020],{"_key":8021,"_type":177,"marks":8022,"text":8023},"b58d91de461b0",[],"Lowers the water cut during end-of-life production;",[],{"_key":8026,"_type":173,"children":8027,"level":955,"listItem":2555,"markDefs":8032,"style":182},"9999ed36a80b",[8028],{"_key":8029,"_type":177,"marks":8030,"text":8031},"00b314e3c7e40",[],"Lowers hydrogen sulphide levels in production offtake; and",[],{"_key":8034,"_type":173,"children":8035,"level":955,"listItem":2555,"markDefs":8040,"style":182},"db3bf7dd45ae",[8036],{"_key":8037,"_type":177,"marks":8038,"text":8039},"5bb5e85537000",[],"Extends the life and increases the economic returns of a producing field.",[],{"_key":8042,"_type":173,"children":8043,"markDefs":8048,"style":182},"c4f42921f809",[8044],{"_key":8045,"_type":177,"marks":8046,"text":8047},"20414f743c960",[],"The consideration for the acquisition is $17.5 million, with Hunting agreeing to pay a 15% royalty to the sellers on revenue earned for a period of 15 years, post-completion.",[],{"_key":8050,"_type":173,"children":8051,"markDefs":8056,"style":182},"9cc374316264",[8052],{"_key":8053,"_type":177,"marks":8054,"text":8055},"0b867a53fcf60",[],"Field trials of the OOR technology are currently underway with numerous blue-chip exploration and production companies across North America, Europe, the Middle East, and Asia Pacific.",[],{"_key":8058,"_type":173,"children":8059,"markDefs":8064,"style":182},"9c3540257bd1",[8060],{"_key":8061,"_type":177,"marks":8062,"text":8063},"b13e54cece940",[],"As previously announced in 2024, Hunting secured up to $60 million of orders from operators in the UK North Sea, with a strong pipeline of opportunities likely to be secured in the coming years, as the oil and gas industry embraces the production benefits of this enhanced oil recovery solution. With additional geographic opportunities, as a result of the transaction, the outlook for expansion is robust.",[],{"_key":8066,"_type":173,"children":8067,"markDefs":8072,"style":182},"5ce6df1062a4",[8068],{"_key":8069,"_type":177,"marks":8070,"text":8071},"7af5044104f10",[],"Hunting is also looking to build its presence in the Middle East with the construction of a small laboratory in the UAE to service clients in the Eastern Hemisphere. With the establishment of this laboratory, the sample lead time and overall analysis time will decrease as a result of closer proximity to the customer.",[],{"_key":8074,"_type":173,"children":8075,"markDefs":8080,"style":182},"ec03bb1a5b69",[8076],{"_key":8077,"_type":177,"marks":8078,"text":8079},"6fec77a99c8c0",[],"Following the acquisition, all technical employees of the OOR business will join Hunting either as an employee or long-term consultant.",[],{"_key":8082,"_type":173,"children":8083,"markDefs":8088,"style":182},"8a32ceb0f1a3",[8084],{"_key":8085,"_type":177,"marks":8086,"text":8087},"874f161264780",[],"Commenting on the acquisition, Jim Johnson, Chief Executive of Hunting, said:",[],{"_key":8090,"_type":173,"children":8091,"markDefs":8096,"style":182},"bc0b877b2f45",[8092],{"_key":8093,"_type":177,"marks":8094,"text":8095},"d9d50d4edbb40",[216],"“Following the acquisition of this exciting business, Hunting now has the ability to deploy this remarkable technology globally. The technology is currently being evaluated by many blue-chip customers, with the benefits to the operator clear. For Hunting, the business will be margin accretive and strongly position the Company to reach its Hunting 2030 Strategy targets in the medium term as commercialisation accelerates.”",[],{"_type":144,"showCTA":7},"Over 25 Discreet Patents and $60M in North Sea Orders",{"_type":146,"asset":8100,"crop":8102,"hotspot":8103},{"_ref":8101,"_type":141},"image-e6f3c8f1896436a7d65b2ab83ba3379a818cad47-3840x2160-png",{"_type":5643,"bottom":5644,"left":5644,"right":5644,"top":5644},{"_type":5646,"height":8104,"width":8105,"x":8106,"y":8107},0.7501584361136847,0.45890410958904,0.49486301369863006,0.5274216350606934,"2025-03-01T15:53:00.000Z",{"_type":9,"current":8110},"hunting-plc-acquisition-of-organic-oil-recovery-technology-for-usd17-5-million","Hunting PLC Acquisition of Organic Oil Recovery Technology for $17.5 Million","\u002Fnews\u002Fhunting-plc-acquisition-of-organic-oil-recovery-technology-for-usd17-5-million",{"_createdAt":8114,"_id":8115,"_rev":7134,"_system":8116,"_type":168,"_updatedAt":116,"categories":8119,"introText":8122,"publishedAt":8123,"regnewslink":8124,"slug":8125,"title":8127,"url":8128},"2025-02-28T13:04:56Z","35ac2ae1-91b7-4498-b400-a1125281a6be",{"base":8117},{"id":8115,"rev":8118},"4otnNjZ4B5hmjxx4M5fSKs",[8120],{"_key":8121,"_ref":1713,"_type":141},"9cb34712af8f","Hunting PLC (LSE: HTG), the precision engineering group, today confirms that Annell Bay, non-executive Director, has retired after 10 years of service and stepped down from the Board.","2025-02-03T07:01:00.000Z","https:\u002F\u002Fotp.tools.investis.com\u002Fclients\u002Fuk\u002Fhunting-plc1\u002Frns\u002Fregulatory-story.aspx?cid=501&newsid=1905938",{"_type":9,"current":8126},"directorate-change","Directorate Change","\u002Fnews\u002Fdirectorate-change",{"_createdAt":8130,"_id":8131,"_rev":7939,"_type":168,"_updatedAt":8132,"introText":8133,"publishedAt":8134,"regnewslink":8135,"slug":8136,"title":8138,"url":8139},"2025-02-28T13:49:19Z","309a2e12-a4b0-488b-91b1-95019a1484e7","2025-02-28T13:59:02Z","Hunting PLC (LSE: HTG), the precision engineering group, today issues a year-end trading update ahead of announcing its 2024 Final Results on Thursday 6 March 2025.","2025-01-14T07:05:00.000Z","https:\u002F\u002Fotp.tools.investis.com\u002Fclients\u002Fuk\u002Fhunting-plc1\u002Frns\u002Fregulatory-story.aspx?cid=501&newsid=1900360",{"_type":9,"current":8137},"2024-year-end-trading-update","2024 Year-end Trading Update","\u002Fnews\u002F2024-year-end-trading-update",{"_createdAt":8141,"_id":8142,"_rev":7939,"_type":168,"_updatedAt":8143,"introText":8144,"publishedAt":8134,"regnewslink":8145,"slug":8146,"title":8148,"url":8149},"2025-02-28T13:46:27Z","3aea724e-0090-4d67-b1eb-2c01deabbc14","2025-02-28T15:28:41Z","Hunting PLC (LSE: HTG), the precision engineering group, today announces a major restructuring of the Group's EMEA operating segment.","https:\u002F\u002Fotp.tools.investis.com\u002Fclients\u002Fuk\u002Fhunting-plc1\u002Frns\u002Fregulatory-story.aspx?cid=501&newsid=1900429",{"_type":9,"current":8147},"restructuring-of-emea-operating-segment","Restructuring of EMEA Operating Segment","\u002Fnews\u002Frestructuring-of-emea-operating-segment",{"_createdAt":8151,"_id":8152,"_rev":7134,"_system":8153,"_type":168,"_updatedAt":116,"categories":8156,"content":8161,"introText":8280,"publishedAt":8281,"slug":8282,"title":8284,"url":8285},"2024-11-13T10:07:15Z","6e705e53-630f-4bba-892b-b2e7fabb9433",{"base":8154},{"id":8152,"rev":8155},"WdOlecuovT9iFgUDGVd0XY",[8157,8159],{"_key":8158,"_ref":5404,"_type":141},"fd8b26bf14b2",{"_key":8160,"_ref":1713,"_type":141},"105ea8038e95",[8162,8175,8206,8219,8238,8251],{"_key":8163,"_type":193,"body":8164,"cta":8173,"title":8174},"e3711d1a0aaf",[8165],{"_key":8166,"_type":173,"children":8167,"markDefs":8172,"style":182},"1c40f36be599",[8168],{"_key":8169,"_type":177,"marks":8170,"text":8171},"97e4c7991ba10",[],"Hunting is embarking on a transformative journey with the introduction of a state-of-the-art facility in Dubai, marking a pivotal moment in its strategic growth trajectory. This expansion aims to meet the escalating manufacturing demands of its Well Test and Process Systems business while enhancing existing product lines such as Perforating Systems, Well Intervention Equipment, OCTG, and Organic Oil Recovery. Positioned to seize the abundant opportunities in the Middle East, this move aligns with Hunting's ambitious growth agenda, offering significant strategic and financial advantages.",[],{"_type":144,"showCTA":7},"Introduction",{"_key":8176,"_type":7274,"cta":8177,"listItems":8178,"title":8205,"type":146,"width":7291},"585974477391",{"_type":144,"showCTA":7},[8179],{"_key":8180,"_type":7279,"descriptionRichText":8181,"image":8202},"da5fe5233426",[8182,8190],{"_key":8183,"_type":173,"children":8184,"markDefs":8189,"style":182},"5ccb5fff8829",[8185],{"_key":8186,"_type":177,"marks":8187,"text":8188},"4466ba254dd10",[],"Situated within the dynamic Jebel Ali Freezone (JAFZA), the new facility spans a substantial 14,000 SQM plot. It features a meticulously planned 3,700 SQM warehouse, yard, and office space dedicated to producing Well Intervention and Surface Well Testing products. The facility is designed to elevate operational efficiency and service delivery, reinforcing Hunting's regional market presence. Scheduled for completion in December 2024 and operational by Q1 2025, this facility is set to drive substantial market penetration and revenue growth across the Middle East.",[],{"_key":8191,"_type":173,"children":8192,"markDefs":8201,"style":182},"b8113cb00a25",[8193,8197],{"_key":8194,"_type":177,"marks":8195,"text":8196},"6e18918330b30",[],"Graham Goodall, General Manager MEA said ",{"_key":8198,"_type":177,"marks":8199,"text":8200},"6e18918330b31",[216],"“Our customers have been hugely positive with the news that we will have this new facility. This development will notably reduce lead times, especially for our Well Testing equipment transitioning from our Holland facility. Our Middle East customers, in particular, will benefit significantly from these improvements.”",[],{"_type":146,"asset":8203},{"_ref":8204,"_type":141},"image-522cd6d3c89de56cb90d21dcc5e0054432888c20-4096x2067-jpg","A New Hub for Growth",{"_key":8207,"_type":193,"body":8208,"cta":8217,"title":8218},"567b4931a34a",[8209],{"_key":8210,"_type":173,"children":8211,"markDefs":8216,"style":182},"8044aadb19e8",[8212],{"_key":8213,"_type":177,"marks":8214,"text":8215},"f792b3c4822d0",[],"The new Dubai facility enables Hunting to expand its product offerings, particularly in Well Intervention and Organic Oil Recovery. By incorporating Surface Well Testing into its manufacturing capabilities, Hunting is better positioned to address the needs of clients across the MENA region. Expanding the SWT product fleet for rental and enhancing servicing and after-sales support amplifies Hunting's market presence, fostering stronger client relationships and opening new avenues for growth across EMEA.",[],{"_type":144,"showCTA":7},"Expanding Market Reach",{"_key":8220,"_type":7274,"cta":8221,"listItems":8222,"title":8237,"type":146,"width":7291},"2f53686837ac",{"_type":144,"showCTA":7},[8223],{"_key":8224,"_type":7279,"descriptionRichText":8225,"image":8234},"a868c56c48df",[8226],{"_key":8227,"_type":173,"children":8228,"markDefs":8233,"style":182},"2c81dfb3f8ea",[8229],{"_key":8230,"_type":177,"marks":8231,"text":8232},"f0deff40fc7e0",[],"This venture underscores Hunting's strategic foresight, which aligns with its 2030 growth roadmap. The Dubai facility and planned expansions in Saudi Arabia signify a deep-rooted commitment to the MENA region, setting a robust foundation for increased regional activity. Sustainability is a core element of this strategy, with the facility featuring innovative eco-friendly initiatives such as solar panels, atmospheric water generation, and grey water treatment systems. These efforts highlight a responsible approach to resource consumption and enhance Hunting's reputation as a sustainable operator.",[],{"_type":146,"asset":8235},{"_ref":8236,"_type":141},"image-78bec94bc8c829f7b02286c7199a7bc5128423ad-1280x856-jpg","Commitment to Strategic Growth and Environmental Responsibility",{"_key":8239,"_type":193,"body":8240,"cta":8249,"title":8250},"40754432fa5b",[8241],{"_key":8242,"_type":173,"children":8243,"markDefs":8248,"style":182},"247683e0a0e7",[8244],{"_key":8245,"_type":177,"marks":8246,"text":8247},"cd7b7646cbe00",[],"The expansion is poised to significantly boost local employment, with plans to increase staffing by 50% over the next two years across various technical disciplines. This growth underscores Hunting's role as a pivotal economic player and its commitment to fostering a supportive and dynamic workplace culture. This strategic workforce development ensures a stable operational base, driving performance and facilitating the company's growth objectives.",[],{"_type":144,"showCTA":7},"Economic and Workforce Development",{"_key":8252,"_type":193,"body":8253,"cta":8278,"title":8279},"c156d4c2cc64",[8254,8270],{"_key":8255,"_type":173,"children":8256,"markDefs":8269,"style":182},"aa8875fca35d",[8257,8261,8265],{"_key":8258,"_type":177,"marks":8259,"text":8260},"d50646669f060",[],"A comprehensive transition plan is underway to integrate the new facility seamlessly with existing operations, ensuring continuity and operational excellence. The phased relocation from Holland to Dubai includes setting up a welding facility, with full operational functionality expected ",{"_key":8262,"_type":177,"marks":8263,"text":8264},"d50646669f061",[179],"by Q1 2025",{"_key":8266,"_type":177,"marks":8267,"text":8268},"d50646669f062",[],". This meticulous integration is crucial for maintaining momentum in Hunting's regional strategy, underscoring its capability to execute complex transitions smoothly.",[],{"_key":8271,"_type":173,"children":8272,"markDefs":8277,"style":182},"d7d43a93dff8",[8273],{"_key":8274,"_type":177,"marks":8275,"text":8276},"f41e97520a120",[],"As Hunting charts this new course, the Dubai facility stands as a beacon of innovation and growth, poised to unlock new potential in a rapidly evolving market. The strategic expansion extends physical boundaries and broadens horizons, promising a robust future built on sustainability and strategic market engagement.",[],{"_type":144,"showCTA":7},"Ensuring Operational Excellence","Unlocking Market Potential and Sustainability","2024-11-13T10:05:58.501Z",{"_type":9,"current":8283},"hunting-s-strategic-leap-in-the-middle-east","Hunting's Strategic Leap in the Middle East: ","\u002Fnews\u002Fhunting-s-strategic-leap-in-the-middle-east",{"_createdAt":8287,"_id":8288,"_rev":8289,"_type":168,"_updatedAt":116,"categories":8290,"content":8293,"introText":8476,"publishedAt":8477,"slug":8478,"title":8480,"url":8481},"2024-10-31T11:05:54Z","326149b7-9cb0-4d51-ba50-63e2cd580da7","Sy3FFEkt4VKop7rT0EK4Ep",[8291],{"_key":8292,"_ref":5404,"_type":141},"86641ef0086a",[8294,8328,8340,8359,8380,8421,8440],{"_key":8295,"_type":7274,"cta":8296,"listItems":8297,"title":2972,"type":146,"width":7291},"4ac716c2e7fd",{"_type":144,"showCTA":7},[8298],{"_key":8299,"_type":7279,"descriptionRichText":8300,"image":8325},"ac409699dd1f",[8301,8309,8317],{"_key":8302,"_type":173,"children":8303,"markDefs":8308,"style":182},"5cc3c4392f74",[8304],{"_key":8305,"_type":177,"marks":8306,"text":8307},"edef98a049960",[],"Jennifer Waggoner",[],{"_key":8310,"_type":173,"children":8311,"markDefs":8316,"style":182},"5cb474dc7c08",[8312],{"_key":8313,"_type":177,"marks":8314,"text":8315},"1612d55b5bfa0",[],"This October, we enthusiastically honored Breast Cancer Awareness Month with a vibrant campaign with diverse activities designed to enhance awareness, foster local involvement, and strengthen community support.",[],{"_key":8318,"_type":173,"children":8319,"markDefs":8324,"style":182},"67c76926702a",[8320],{"_key":8321,"_type":177,"marks":8322,"text":8323},"94d1b4d01f98",[],"In this article, Jennifer Waggoner, one of our dedicated campaign organizers, discusses her pivotal role in distributing Chemo Care Baskets and offers her unique insights into our efforts to raise awareness and provide substantial support to breast cancer patients. As we explore the campaign's inspiring journey, we witness how it nurtures teamwork, cultivates compassion, and significantly impacts the lives of patients within our community.",[],{"_type":146,"asset":8326},{"_ref":8327,"_type":141},"image-d8d15b08a1bd14a9aada5e29a9e6d2584c225287-1000x847-jpg",{"_key":8329,"_type":193,"body":8330,"cta":8339,"title":8174},"d857a748870b",[8331],{"_key":8332,"_type":173,"children":8333,"markDefs":8338,"style":182},"135ba6352162",[8334],{"_key":8335,"_type":177,"marks":8336,"text":8337},"34449b5aa46b0",[],"Hunting's Breast Cancer Awareness campaign stands as a beacon of hope and support, making notable contributions to both the local community and its employees. Jennifer, a passionate advocate of this initiative, emphasizes the campaign's mission, stating, \"We aim to make impactful changes where they matter most. Each step we take brings us closer to transforming lives.\" This commitment highlights the campaign's dedication to driving meaningful change.",[],{"_type":144,"showCTA":7},{"_key":8341,"_type":7274,"cta":8342,"listItems":8343,"title":8358,"type":146,"width":7291},"0a3e6940e580",{"_type":144,"showCTA":7},[8344],{"_key":8345,"_type":7279,"descriptionRichText":8346,"image":8355},"1d345f5fad39",[8347],{"_key":8348,"_type":173,"children":8349,"markDefs":8354,"style":182},"6ec1a1ef8eab",[8350],{"_key":8351,"_type":177,"marks":8352,"text":8353},"f00a3db53b080",[],"Hunting ensures its contributions make a difference by collaborating with the Smith Breast Cancer Center. The Center provides essential medical support, education, and emotional care to low-income or underinsured patients. Jennifer elaborates on this impact, noting, \"Our involvement ensures that those who might otherwise be overlooked receive the crucial assistance they need. Witnessing the tangible difference we make in people's lives is deeply gratifying.",[],{"_type":146,"asset":8356},{"_ref":8357,"_type":141},"image-2bd330da89085918e63d339241b63b4b477282ec-1000x667-jpg","Community Impact",{"_key":8360,"_type":193,"body":8361,"cta":8378,"title":8379},"a8884b82afd9",[8362,8370],{"_key":8363,"_type":173,"children":8364,"markDefs":8369,"style":182},"96076d53ab7d",[8365],{"_key":8366,"_type":177,"marks":8367,"text":8368},"dcd3587d1ff40",[],"The dedicated involvement of Hunting's employees is pivotal to the campaign's success. Jennifer articulates our vision, saying, \"Our goal was to create meaningful opportunities for our employees to engage in team-building and community service. We chose Breast Cancer as one of our focused campaigns due to its wide-reaching impact and the critical importance of awareness, alongside the availability of educational resources, which facilitated employee participation in engaging activities, ensuring a successful campaign.\" Activities like PINK OUT events and bake sales generated funds and fostered a sense of unity among the staff.",[],{"_key":8371,"_type":173,"children":8372,"markDefs":8377,"style":182},"db7bae43bd93",[8373],{"_key":8374,"_type":177,"marks":8375,"text":8376},"76f87bf8bebf",[],"Additionally, the campaign serves as an essential educational resource, raising awareness about breast cancer risk factors and the importance of regular screenings. Jennifer states, \"Educating our workforce about breast health is critical. We aim to ensure that our staff is informed about the risks and the crucial role of early detection.",[],{"_type":144,"showCTA":7},"Employee Engagement",{"_key":8381,"_type":7274,"cta":8382,"listItems":8383,"title":8420,"type":146,"width":7291},"a80ca920e2a8",{"_type":144,"showCTA":7},[8384,8398],{"_key":8385,"_type":7279,"descriptionRichText":8386,"image":8395},"25bb77b40517",[8387],{"_key":8388,"_type":173,"children":8389,"markDefs":8394,"style":182},"713474af635a",[8390],{"_key":8391,"_type":177,"marks":8392,"text":8393},"ecfb3a54931d0",[],"The Hunting team in the Cancer Resource Center learning how Hunting’s donation will be allocated and support patients.\n",[],{"_type":146,"asset":8396},{"_ref":8397,"_type":141},"image-45517e117d17c755433a742039e297b4357bf7cd-1000x667-jpg",{"_key":8399,"_type":7279,"descriptionRichText":8400,"image":8417},"df1c0c0a68df",[8401,8409],{"_key":8402,"_type":173,"children":8403,"markDefs":8408,"style":182},"e08af9d87c9c",[8404],{"_key":8405,"_type":177,"marks":8406,"text":8407},"a3274be9ecb60",[],"Jennifer Waggoner and Dayreshka Morales delivering a Chemo Care Basket to a patient at the Smith Breast Cancer Center.",[],{"_key":8410,"_type":173,"children":8411,"markDefs":8416,"style":182},"39a0a6f107cd",[8412],{"_key":8413,"_type":177,"marks":8414,"text":8415},"8e2cae4452290",[],"The campaign's most heartfelt moments occur during the delivery of Chemo Care Baskets. Jennifer reflects, \"The most moving experiences are when we personally deliver the Chemo Care Baskets to women undergoing treatment. Their overwhelming gratitude is incredibly touching, and each delivery remains a profound experience for us.\" These interactions genuinely encourage recipients and employees, reinforcing the personal impact of the campaign's efforts.",[],{"_type":146,"asset":8418},{"_ref":8419,"_type":141},"image-2240d60ea52bbbbf622e78ebe75a7885183b671e-1000x667-jpg","Emotional Moments",{"_key":8422,"_type":7274,"cta":8423,"listItems":8424,"title":8439,"type":146,"width":7291},"a9471b4b5b7f",{"_type":144,"showCTA":7},[8425],{"_key":8426,"_type":7279,"descriptionRichText":8427,"image":8436},"9b6f4eaafa11",[8428],{"_key":8429,"_type":173,"children":8430,"markDefs":8435,"style":182},"560a54a19d28",[8431],{"_key":8432,"_type":177,"marks":8433,"text":8434},"c935120757860",[],"The Breast Cancer Awareness campaign acts as a cornerstone for fostering a stronger corporate culture. Jennifer observes, \"The campaign enriches the company by uniting us around a common cause, offering team-building opportunities, and making a direct impact on local organizations. It personalizes the experience for our employees.\" This shared mission enhances the company culture and strengthens employee bonds.",[],{"_type":146,"asset":8437},{"_ref":8438,"_type":141},"image-e63f8a0d2760ff9e0f928c4ecf37db0cc7a2d8a4-1000x667-jpg","Cultural Benefits",{"_key":8441,"_type":193,"body":8442,"cta":8474,"title":8475},"4b5e7e178c98",[8443,8451,8459,8466],{"_key":8444,"_type":173,"children":8445,"markDefs":8450,"style":182},"51de2e98385b",[8446],{"_key":8447,"_type":177,"marks":8448,"text":8449},"4f9b4859b2bd0",[],"Hunting's Breast Cancer Awareness campaign illustrates the profound effect a dedicated and heartfelt initiative can have on both society and corporate culture. Jennifer expresses, \"I am immensely proud of our accomplishments and deeply grateful to all our staff members. Their unwavering dedication and empathy drive our success.\"",[],{"_key":8452,"_type":173,"children":8453,"markDefs":8458,"style":182},"bd0aa89feaa8",[8454],{"_key":8455,"_type":177,"marks":8456,"text":8457},"93fe33b19a6a0",[],"We extend our sincere appreciation to Jennifer and our committed team, whose efforts continue to inspire and bring hope. Their contributions have left an indelible mark on the company and the community, reminding us of the power of compassion and collective action.",[],{"_key":8460,"_type":173,"children":8461,"markDefs":8465,"style":182},"a6e7eed71034",[8462],{"_key":8463,"_type":177,"marks":8464,"text":180},"2300793483fb",[],[],{"_key":8467,"_type":173,"children":8468,"markDefs":8473,"style":182},"f88c843ccaab",[8469],{"_key":8470,"_type":177,"marks":8471,"text":8472},"5590077d046a",[],"We Are Hunting! ",[],{"_type":144,"showCTA":7},"Conclusion","The Impact of Hunting’s Breast Cancer Awareness Campaign.","2024-10-31T09:54:30.698Z",{"_type":9,"current":8479},"empowering-communities","Empowering Communities:","\u002Fnews\u002Fempowering-communities",{"_createdAt":8483,"_id":8484,"_rev":7939,"_type":168,"_updatedAt":8485,"introText":8486,"publishedAt":8487,"regnewslink":8488,"slug":8489,"title":8491,"url":8492},"2025-02-28T13:53:20Z","1534457d-0917-4a2b-a443-9b71cba72698","2025-02-28T13:59:32Z","Hunting PLC (LSE: HTG), the global precision engineering group, today announces its Q3 2024 Trading Update and the securing of $300 million of new borrowing facilities.","2024-10-22T06:26:00.000Z","https:\u002F\u002Fotp.tools.investis.com\u002Fclients\u002Fuk\u002Fhunting-plc1\u002Frns\u002Fregulatory-story.aspx?cid=501&newsid=1877289",{"_type":9,"current":8490},"q3-2024-trading-update","Q3 2024 Trading Update","\u002Fnews\u002Fq3-2024-trading-update",{"_createdAt":8494,"_id":8495,"_rev":8496,"_type":168,"_updatedAt":116,"categories":8497,"content":8500,"introText":8660,"publishedAt":8661,"slug":8662,"title":8664,"url":8665},"2024-10-10T10:39:47Z","01deca69-980c-47d6-9041-0c03a24a382d","Sy3FFEkt4VKop7rT0EK5Ay",[8498],{"_key":8499,"_ref":5404,"_type":141},"a99bb94f4c2a",[8501,8522,8549,8596,8609],{"_key":8502,"_type":193,"body":8503,"cta":8520,"introText":8521},"c4a94b98bff5",[8504,8512],{"_key":8505,"_type":173,"children":8506,"markDefs":8511,"style":182},"389abf8e86c7",[8507],{"_key":8508,"_type":177,"marks":8509,"text":8510},"ac7728de8a7b0",[],"This year marks a significant commitment from our offices in Aberdeen to supporting mental health charities and organisations, with the aim of creating maximum impact across a number of local and regional initiatives rather than focussing on one cause. Through a combination of fundraising efforts and strategic financial support, Hunting Aberdeen is making strides to champion change in the mental health sector.",[],{"_key":8513,"_type":173,"children":8514,"markDefs":8519,"style":182},"0fd0abc2e970",[8515],{"_key":8516,"_type":177,"marks":8517,"text":8518},"980776334d170",[],"This year, the Charity Committee has been actively involved in a range of impactful activities:",[],{"_type":144,"showCTA":7},"In Aberdeen, a remarkable movement is underway in 2024, spearheaded by the dedicated offices of Badentoy and Fordoun.",{"_key":8523,"_type":7274,"cta":8524,"listItems":8525,"title":8548,"type":146,"width":7291},"ab21646f7cda719ee21274e4f6961ec2",{"_type":144,"showCTA":7},[8526,8533],{"_key":8527,"_type":7279,"description":8528,"image":8529,"title":8532},"1b49cc2d925e","A team of five Hunting employees, with moral support and from friends and family, took on the challenge of walking 18 miles from Aberdeen to Banchory donning a touch of tartan and successfully raising £1,197 for Mental Health Aberdeen.",{"_type":146,"asset":8530},{"_ref":8531,"_type":141},"image-57715cba441a2431eb3cc78beef27136ba9fd587-769x413-jpg","The Kiltwalk",{"_key":8534,"_type":7279,"descriptionRichText":8535,"image":8544,"title":8547},"bb9fe99b621d",[8536],{"_key":8537,"_type":173,"children":8538,"markDefs":8543,"style":182},"55f2e1e11b8d",[8539],{"_key":8540,"_type":177,"marks":8541,"text":8542},"ab6bc7425dc10",[],"Euro Football sweeper and bake sale events collectively raised £1,139, with proceeds aiding mental health initiatives including donating £700 worth of Chromebooks and tablets to Penumbra Mental Health Aberdeen, and purchasing conferencing equipment for Horseback UK, a charity based in Aboyne that supports wounded veterans, individuals with PTSD, and disengaged school children through equine-assisted therapy.\n",[],{"_type":146,"asset":8545},{"_ref":8546,"_type":141},"image-b294cddba14f8c2108ce21d9e5e37ad190f92f5b-770x413-jpg","Summer Fundraisers","June",{"_key":8550,"_type":7274,"cta":8551,"listItems":8552,"title":8595,"type":146,"width":7291},"4fe62738df049c4d2374927a7e437bf5",{"_type":144,"showCTA":7},[8553,8574],{"_key":8527,"_type":7279,"descriptionRichText":8554,"image":8570,"title":8573},[8555,8563],{"_key":8556,"_type":173,"children":8557,"markDefs":8562,"style":182},"4aee2bee78d3",[8558],{"_key":8559,"_type":177,"marks":8560,"text":8561},"36069153ad2c0",[],"Participants bravely descended the Northern Lights Tower in Aberdeen. At a towering 131 ft above ground, the efforts raised over £1,263 for the Mental Health Foundation.",[],{"_key":8564,"_type":173,"children":8565,"markDefs":8569,"style":182},"dc30a14a0b2f",[8566],{"_key":8567,"_type":177,"marks":8568,"text":180},"3e8b051d1444",[],[],{"_type":146,"asset":8571},{"_ref":8572,"_type":141},"image-7d3fb86aee80275e4a49f4716594a1db78b1dcb8-770x413-jpg","Northern Lights Tower",{"_key":8534,"_type":7279,"descriptionRichText":8575,"image":8591,"title":8594},[8576,8584],{"_key":8577,"_type":173,"children":8578,"markDefs":8583,"style":182},"f78bcd5afafa",[8579],{"_key":8580,"_type":177,"marks":8581,"text":8582},"fd6694e6a2740",[],"We were able to donate a £200 supermarket voucher to the Mamacita Foundation in Aberdeen. The Mamacita Foundation supports vulnerable individuals, particularly those from migrants, asylum seekers and members of Black and Minority Ethnic (BAME) groups and those experiencing extreme hardship. This voucher will support one of their ‘Meet and Greet’ events which brings people together in a positive way to foster connections.",[],{"_key":8585,"_type":173,"children":8586,"markDefs":8590,"style":182},"54e551e4cd91",[8587],{"_key":8588,"_type":177,"marks":8589,"text":180},"476f810bf788",[],[],{"_type":146,"asset":8592},{"_ref":8593,"_type":141},"image-22880bf7ab2cc637b69e56bcb77f645a2c1e43af-769x532-jpg","Mamacita Foundation","August",{"_key":8597,"_type":193,"body":8598,"cta":8607,"title":8608},"3e5c393a66478e1c3e9f0f7dec34b6cc",[8599],{"_key":8600,"_type":173,"children":8601,"markDefs":8606,"style":182},"988b62520067",[8602],{"_key":8603,"_type":177,"marks":8604,"text":8605},"95f5ea412ba7",[],"We have been to donate £200 to Avenue – A New Direction to put towards a new sofa for their Aberdeen playroom. Avenue are an organisation provides support to families in the North East of Scotland with family therapy, mediation, play therapy and family counselling.",[],{"_type":144,"showCTA":7},"September",{"_key":8610,"_type":7274,"cta":8611,"listItems":8612,"title":8659,"type":146,"width":7291},"7fc8b6248562c94ba6c55d08d482b3d1",{"_type":144,"showCTA":7},[8613,8627,8649,8654],{"_key":8527,"_type":7279,"descriptionRichText":8614,"image":8623,"title":8626},[8615],{"_key":8616,"_type":173,"children":8617,"markDefs":8622,"style":182},"c4aa0d609bac",[8618],{"_key":8619,"_type":177,"marks":8620,"text":8621},"55f1c02b009f0",[],"We have twenty employees participating in the Mental Health Aberdeen quiz night.\n",[],{"_type":146,"asset":8624},{"_ref":8625,"_type":141},"image-881c85f1e1be974c26c66e3e6aac848bc78e3377-770x512-jpg","MHAstermind Quiz",{"_key":8534,"_type":7279,"descriptionRichText":8628,"image":8645,"title":8648},[8629,8637],{"_key":8630,"_type":173,"children":8631,"markDefs":8636,"style":182},"cd0edb594e2b",[8632],{"_key":8633,"_type":177,"marks":8634,"text":8635},"9a592aa7a5c8",[],"Our incredible team came together this week to champion mental well-being, recognising its vital role in fostering a workplace where everyone feels supported and valued. Across our Aberdeen offices, we organised a series of activities which included Tea and Talk!, Yoga Sessions, A Group Walk, Neck and Shoulder Massages, Mindfulness , Suicide Awareness and a visit from Therapets.",[],{"_key":8638,"_type":173,"children":8639,"markDefs":8644,"style":182},"fa1d14db0935",[8640],{"_key":8641,"_type":177,"marks":8642,"text":8643},"9296fe838055",[],"We look forward to continuing our efforts throughout the year!\n",[],{"_type":146,"asset":8646},{"_ref":8647,"_type":141},"image-5beb30e7c2fbb6d5264b465b679393e5ccef32c8-770x530-jpg","Mental Health Week",{"_key":8650,"_type":7279,"image":8651},"c268b0dbc812",{"_type":146,"asset":8652},{"_ref":8653,"_type":141},"image-6e286c6af000d047c96e49f680c5fa338169668f-768x405-jpg",{"_key":8655,"_type":7279,"image":8656},"66be9d586c6f",{"_type":146,"asset":8657},{"_ref":8658,"_type":141},"image-18ac5302c8d5e362e50c92dce5edfba13fe0b5d2-768x405-jpg","October","Hunting Aberdeen's 2024 Commitment to Mental Health Charities.","2024-10-10T08:40:44.920Z",{"_type":9,"current":8663},"championing-change","Championing Change:","\u002Fnews\u002Fchampioning-change",{"_createdAt":8667,"_id":8668,"_rev":6801,"_type":168,"_updatedAt":116,"body":8669,"categories":8738,"introText":8743,"publishedAt":8744,"slug":8745,"title":8747,"url":8748},"2024-09-19T07:09:51Z","4cfd441f-cbf3-4f35-815b-3f8949cdbcac",[8670,8678,8685,8693,8700,8708,8715,8723,8730],{"_key":8671,"_type":173,"children":8672,"markDefs":8677,"style":182},"876769bd9b12",[8673],{"_key":8674,"_type":177,"marks":8675,"text":8676},"46e467518ea40",[],"LONDON, England. Hunting PLC (LSE:HTG), the global precision engineering group, is delighted to announce the expansion of their strategic partnership with CRA Tubulars B.V. (\"CRA\"), a Dutch innovator in advanced composite tubing. This enhanced collaboration underscores both companies' commitment to advancing the development and commercialisation of Titanium Composite Tubing (\"TCT\") technology, as part of Hunting’s strategic growth ambition to develop energy transition markets, including carbon capture and storage opportunities.",[],{"_key":8679,"_type":173,"children":8680,"markDefs":8684,"style":182},"80602aa0931c",[8681],{"_key":8682,"_type":177,"marks":8683,"text":180},"2da59631224b0",[],[],{"_key":8686,"_type":173,"children":8687,"markDefs":8692,"style":182},"2ebfc2963793",[8688],{"_key":8689,"_type":177,"marks":8690,"text":8691},"17055a9dd4d60",[],"TCT technology offers significant well design and enhanced performance benefits to operators compared to conventional corrosion resistant alloy tubing, especially for carbon dioxide storage wells and highly corrosive oil and gas well completions.",[],{"_key":8694,"_type":173,"children":8695,"markDefs":8699,"style":182},"2de0707cb2f7",[8696],{"_key":8697,"_type":177,"marks":8698,"text":180},"575ff145cb260",[],[],{"_key":8701,"_type":173,"children":8702,"markDefs":8707,"style":182},"c2e327c80607",[8703],{"_key":8704,"_type":177,"marks":8705,"text":8706},"46f23109d2d00",[],"In August 2024, Hunting made a strategic financial investment in CRA to support the development and commercialisation of TCT. In addition to North America, the partnership's exclusive territory will expand to cover the entire European region, including all EU member states, the United Kingdom, Iceland, Norway, and Switzerland. This move solidifies Hunting’s and CRA's joint efforts to introduce TCT to new markets and customers across Europe.",[],{"_key":8709,"_type":173,"children":8710,"markDefs":8714,"style":182},"dd5ced04a87d",[8711],{"_key":8712,"_type":177,"marks":8713,"text":180},"147591e039550",[],[],{"_key":8716,"_type":173,"children":8717,"markDefs":8722,"style":182},"fb3e92fccf65",[8718],{"_key":8719,"_type":177,"marks":8720,"text":8721},"cf18d9fbacd60",[],"In addition to financial support, Hunting will provide CRA with vital technical assistance, including the option of applying Hunting's industry proven premium connection technology to TCT pipe, engineering and test lab support and proven expertise to implement a robust quality management system. Hunting will also support CRA’s marketing efforts in Europe and North America, helping to accelerate the adoption of TCT technology.",[],{"_key":8724,"_type":173,"children":8725,"markDefs":8729,"style":182},"0d4d356e9abe",[8726],{"_key":8727,"_type":177,"marks":8728,"text":180},"57b7c3feeb3d0",[],[],{"_key":8731,"_type":173,"children":8732,"markDefs":8737,"style":182},"bf9b4a473f94",[8733],{"_key":8734,"_type":177,"marks":8735,"text":8736},"889287a705e10",[],"This expansion of the original agreement announced in July 2023, reinforces both parties' commitment to complete the successful development and commercialisation of TCT.",[],[8739,8741],{"_key":8740,"_ref":1713,"_type":141},"acdd47ecda3f",{"_key":8742,"_ref":5404,"_type":141},"511ce10b46f5","Hunting is delighted to announce the expansion of their strategic partnership with CRA Tubulars B.V.","2024-09-19T07:08:19.688Z",{"_type":9,"current":8746},"expansion-of-strategic-partnership","Expansion of Strategic Partnership","\u002Fnews\u002Fexpansion-of-strategic-partnership",{"_createdAt":8750,"_id":8751,"_rev":7809,"_type":168,"_updatedAt":116,"body":8752,"categories":8761,"introText":8764,"mainImage":8765,"publishedAt":8775,"slug":8776,"tags":8778,"title":8782,"url":8783},"2024-09-16T18:12:45Z","91c8767a-b973-411c-b9a3-91482eae809e",[8753],{"_key":8754,"_type":173,"children":8755,"markDefs":8760,"style":182},"8f42c4d38958",[8756],{"_key":8757,"_type":177,"marks":8758,"text":8759},"897b768bc7d90",[],"Chris Caldwell, Energy Leader of The Year finalist, is recognized for his outstanding contributions to industry innovation and excellence within our organization and the upstream energy sector. Chris has been instrumental in advancing the use of Titanium Stress Joints (TSJs) for connecting Steel Catenary Risers (SCRs) in high-pressure, deep-water environments. These SCRs are essential in ultra-deep waters, such as the Gulf of Mexico, where they endure extreme environmental loads and internal pressures of up to 15,000 psi. By effectively integrating titanium and steel, TSJs effectively address these challenges.\n\nIn addition to his work with TSJs, Chris has made significant strides in developing fatigue-resistant riser joints for top-tensioned, dry completion risers on Tension Leg Platforms (TLPs) and Spar platforms. His recent innovative work on the Direct Pull-Thru Porch (DPT) guide tube for FPSO riser hang-off design enables the installation of a TSJ at the FPSO's upper deck level, leveraging standard design and capabilities. This innovation reduces the volume of produced fluids needed as ballast in the FPSO, marking a significant departure from previous industry norms.\n\nChris' steadfast dedication to safety, efficiency, and sustainability has been instrumental in driving our success. His adeptness at navigating market shifts and embracing technological advancements further underscores his pivotal role in our achievements. Known for his innovative and results-driven approach to complex challenges, Chris has significantly enhanced our subsea offerings and fueled broader progress in the upstream energy sector. His outstanding contributions have earned him a well-deserved place as a finalist for the Gulf Energy Excellence Awards, and we extend our best wishes for this prestigious recognition.",[],[8762],{"_key":8763,"_ref":5404,"_type":141},"40b5001ee8a9","Gulf Energy celebrates remarkable achievements within the Gulf region, honoring those who are shaping the future of energy.",{"_type":146,"alt":8766,"asset":8767,"crop":8769,"hotspot":8770},"Head shot of Chris Caldwell, P.E. 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The contracts are worth up to $60 million over a five-year period.",[],{"_key":8798,"_type":173,"children":8799,"markDefs":8803,"style":182},"7ce57a2556fd",[8800],{"_key":8801,"_type":177,"marks":8802,"text":180},"ba0f0980abc30",[],[],{"_key":8805,"_type":173,"children":8806,"markDefs":8811,"style":182},"f947eb20f2c7",[8807],{"_key":8808,"_type":177,"marks":8809,"text":8810},"69858d41d4250",[],"The OOR process is a proven enhanced oil recovery (\"EOR\") technology which optimises reservoir performance, improves recovery rates and reduces in-situ hydrogen sulphide levels for operators. 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PLC (LSE:HTG), the global, precision engineering group, today announces its unaudited half year results for the six months ended 30 June 2024.",[],{"_key":9026,"_type":173,"children":9027,"markDefs":9031,"style":182},"53252987c929",[9028],{"_key":9029,"_type":177,"marks":9030,"text":180},"2c32e2d764390",[],[],{"_key":9033,"_type":173,"children":9034,"markDefs":9038,"style":182},"35de6051eeb1",[9035],{"_key":9036,"_type":177,"marks":9037,"text":262},"e033327805300",[179],[],{"_key":9040,"_type":173,"children":9041,"markDefs":9045,"style":182},"cbc8ab433197",[9042],{"_key":9043,"_type":177,"marks":9044,"text":180},"ea77b9118d670",[],[],{"_key":9047,"_type":173,"children":9048,"markDefs":9053,"style":182},"a3e89ea26762",[9049],{"_key":9050,"_type":177,"marks":9051,"text":9052},"d530fafbdd7b0",[],"· Order book increased by 32% to a record level of 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6%",[],{"_key":9087,"_type":173,"children":9088,"markDefs":9093,"style":182},"fe05ccdd300b",[9089],{"_key":9090,"_type":177,"marks":9091,"text":9092},"bc94fad0afbe0",[],"· Adjusted diluted EPS of 15.5 cents up from 9.6 cents",[],{"_key":9095,"_type":173,"children":9096,"markDefs":9101,"style":182},"44dea3c8618d",[9097],{"_key":9098,"_type":177,"marks":9099,"text":9100},"100dad5b34310",[],"· Interim dividend declared 5.5 cents per share (H1 2023 - 5.0 cents), an increase of 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growth.",[],{"_key":9132,"_type":173,"children":9133,"markDefs":9137,"style":182},"5352e5b09593",[9134],{"_key":9135,"_type":177,"marks":9136,"text":180},"4688b306bf770",[],[],{"_key":9139,"_type":173,"children":9140,"markDefs":9145,"style":182},"d195d5b54f65",[9141],{"_key":9142,"_type":177,"marks":9143,"text":9144},"77598ee432100",[],"\"Over the period, there were strong performances from our OCTG, Subsea and Advanced Manufacturing product groups. Today's results demonstrate the strength of offshore and international markets and steady progress in energy transition markets. Our success with Kuwait Oil Company demonstrates Hunting's technology and supply chain leadership, and we are looking to further build on this success in the coming years. While our Perforating Systems results have been impacted by the challenging onshore market in the US, Hunting's technology offering remains compelling for clients, and will see improvements as and when market conditions recover.",[],{"_key":9147,"_type":173,"children":9148,"markDefs":9152,"style":182},"187784af4117",[9149],{"_key":9150,"_type":177,"marks":9151,"text":180},"008b191252a60",[],[],{"_key":9154,"_type":173,"children":9155,"markDefs":9160,"style":182},"217fdabbbf90",[9156],{"_key":9157,"_type":177,"marks":9158,"text":9159},"dccd86f6f1070",[],"\"I am delighted with the progress against our Hunting 2030 strategic ambitions, with management already delivering on many of the key areas we highlighted to our stakeholders - especially around revenue diversification, profitability and progressive shareholder returns. In addition, the acceleration of commercialisation of our licensed Organic Oil Recovery technology is another great milestone to report and showcases Hunting's ability to leverage its industry leading IP to deliver value adding solutions to our global clients.",[],{"_key":9162,"_type":173,"children":9163,"markDefs":9167,"style":182},"f691701be885",[9164],{"_key":9165,"_type":177,"marks":9166,"text":180},"22f1763bec670",[],[],{"_key":9169,"_type":173,"children":9170,"markDefs":9175,"style":182},"e0466c7e72ad",[9171],{"_key":9172,"_type":177,"marks":9173,"text":9174},"e3f1d32047390",[],"\"In summary, I would like to thank our leadership team and all of our staff for their hard work and achievements in the period and we look forward to the future with confidence.\"",[],{"_key":9177,"_type":173,"children":9178,"markDefs":9182,"style":182},"c12f048a58a5",[9179],{"_key":9180,"_type":177,"marks":9181,"text":180},"794f06ba6fd1",[],[],{"_key":9184,"_type":173,"children":9185,"markDefs":9189,"style":182},"6663ef029fa9",[9186],{"_key":9187,"_type":177,"marks":9188,"text":3008},"123940eb2fbb0",[179],[],{"_key":9191,"_type":173,"children":9192,"markDefs":9196,"style":182},"7f976f14c919",[9193],{"_key":9194,"_type":177,"marks":9195,"text":180},"111ac59302080",[],[],{"_key":9198,"_type":173,"children":9199,"markDefs":9204,"style":182},"f7234c799882",[9200],{"_key":9201,"_type":177,"marks":9202,"text":9203},"c85fefdba8c40",[],"As noted in our July 2024 Trading Update, Hunting has raised its 2024 full-year EBITDA guidance to c.$134-138m, reflecting the impact of the Kuwait Oil Company (\"KOC\") orders to be delivered prior to the year-end, offsetting trading headwinds seen in the Perforating Systems product group. The KOC orders will continue to be worked through during H1 2025, which supports a positive outlook for the Group's trading well into 2025.",[],{"_key":9206,"_type":173,"children":9207,"markDefs":9211,"style":182},"cdf4ebcdc515",[9208],{"_key":9209,"_type":177,"marks":9210,"text":180},"589f364db5270",[],[],{"_key":9213,"_type":173,"children":9214,"markDefs":9219,"style":182},"fb1a64f4ea23",[9215],{"_key":9216,"_type":177,"marks":9217,"text":9218},"72dd08ae0f8c0",[],"The Directors continue to see strong international and offshore demand given the current price for WTI crude oil, with tender activity for its OCTG product lines remaining strong in the Middle East and Asia Pacific. Activity in South America continues to be robust, while in Africa longer-term growth opportunities are opening, following oil and gas discoveries in Namibia and Mozambique.",[],{"_key":9221,"_type":173,"children":9222,"markDefs":9226,"style":182},"f3dd6f77955a",[9223],{"_key":9224,"_type":177,"marks":9225,"text":180},"d58ab1ffd72f0",[],[],{"_key":9228,"_type":173,"children":9229,"markDefs":9234,"style":182},"0ea06ea99226",[9230],{"_key":9231,"_type":177,"marks":9232,"text":9233},"ffecf937362a0",[],"Management anticipates a firming in the Henry Hub natural gas price by 2025, which will support onshore and gas-focused drilling activity in the US and Canada, which will also enable oil focused drilling to increase given the limitations on flaring in certain US onshore basins, such as the Permian.",[],{"_key":9236,"_type":173,"children":9237,"markDefs":9241,"style":182},"90d034f384be",[9238],{"_key":9239,"_type":177,"marks":9240,"text":180},"6b55386d2e350",[],[],{"_key":9243,"_type":173,"children":9244,"markDefs":9249,"style":182},"b0b0e7af6464",[9245],{"_key":9246,"_type":177,"marks":9247,"text":9248},"884161247dd30",[],"The Group's Subsea product lines are pursuing new international opportunities across its three major product families. 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The Group completed qualification and testing of new premium and semi-premium connections in support of Hunting's energy-related and Energy Transition growth initiatives. Hunting Titan is to introduce shortly a 'Tandem' H-4 Perforating System variant to customers to support more complex well completions. 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24","\u002Fnews\u002Funaudited-results-for-the-six-months-to-30-june-24",{"_createdAt":9899,"_id":9900,"_rev":9901,"_type":168,"_updatedAt":116,"categories":9902,"content":9906,"downloads":10020,"introText":10027,"mainImage":10028,"publishedAt":10042,"slug":10043,"tags":10045,"title":10058,"url":10059},"2024-08-27T14:38:46Z","fd40ade9-8015-40c4-a9da-27082175a75f","pWgyghzhJBYjhJ3z5NcBhg",[9903],{"_key":9904,"_ref":9905,"_type":141},"1c5d7a839195","e3b9b120-10bb-4928-969a-dfd439fd24fa",[9907,9924,9929,9950,9955,9968,9981,9998],{"_key":9908,"_type":1717,"cta":9909,"image":9910},"06d5e43acec3",{"_type":144,"showCTA":7},{"_type":146,"alt":9911,"asset":9912,"crop":9914,"hotspot":9919},"Case Study Success Hunting Gauge Carrier in United Arab Emirates",{"_ref":9913,"_type":141},"image-fbbdc2104349cbbba5145475ecc26722aa040816-3003x1707-png",{"_type":5643,"bottom":9915,"left":9916,"right":9917,"top":9918},0.1175718695736061,0.11130136986301373,0.13869863013698636,0.12058653289600624,{"_type":5646,"height":9920,"width":9921,"x":9922,"y":9923},0.7618415975303876,0.7499999999999999,0.48630136986301364,0.5015073316612,{"_key":9925,"_type":193,"cta":9926,"introText":9927,"title":9928},"0607fa1350b9",{"_type":144,"showCTA":7},"A major oil operator in UAE was looking for a solution to reduce operating time during memory gauge runs to resume production, and at the same time the service contractor wanted a solution to preserve memory gauges and extend equipment life cycle.","Requirement ",{"_key":9930,"_type":7274,"cta":9931,"introText":9932,"listItems":9933,"title":9949,"twoColumn":22,"type":2555,"width":7291},"8810120fee5b",{"_type":144,"showCTA":7},"Hunting Gauge Carrier was proposed during a symposium offering a combined solution that would satisfy both objectives and offers further added values:",[9934,9937,9940,9943,9946],{"_key":9935,"_type":7279,"title":9936},"71f2c71948ad","Memory gauge protection during rig up \u002F rig down, while running in and pulling out of the well.",{"_key":9938,"_type":7279,"title":9939},"f17157b70a42","Operational efficiency by reduced operating hours and increasing efficiency with combined runs.",{"_key":9941,"_type":7279,"title":9942},"3e72ae7a742d","The integral shock dampening mechanism within the gauge carrier provides maximum protection to the memory gauges while maintaining a small OD profile enabling efficient and safe mechanical jarring action. ",{"_key":9944,"_type":7279,"title":9945},"9cf81364bc98","The innovative design reduces tool inventory and allows adaptation of one carrier to different types and sizes of memory gauges using a set of extension subs within the gauge carrier package.",{"_key":9947,"_type":7279,"title":9948},"8c6da273642c","Easy assembly \u002F disassembly using tangential pin design for simple and quick assembly, eliminating the use of grub screws and pipe wrench torque,","Solution Proposed by Hunting",{"_key":9951,"_type":193,"cta":9952,"subHeading":9953,"title":9954},"4cd5e1c1f278",{"_type":144,"showCTA":7},"The client proposed three pilot wells to try and approve the technology with the main objective to confirm recorded data quality, feasibility of the combination as well as confirming maximum operating time and possibility to log two wells with the same unit in the same day to increase operational efficiency.","Primary Objective",{"_key":9956,"_type":193,"body":9957,"cta":9966,"title":9967},"afce10eb2e07",[9958],{"_key":9959,"_type":173,"children":9960,"markDefs":9965,"style":182},"e8c296fcf6b6",[9961],{"_key":9962,"_type":177,"marks":9963,"text":9964},"609d1160c28b0",[],"The objective of the first pilot well was to run a set of memory gauges inside Hunting gauge carrier combined with gauge cutter to confirm tubing clearance and acquire pressure temperature survey in one run. These two services are usually run one after the other; tubing clearance is first confirmed by running gauge cutter which would take approximately 2 hours operating time then the memory gauge run exposed to well environment to record data which again takes 3 to 4 hours operating time depending on well environment and operational requirements. Total operating time should be 6-7 hours, Using the Gauge Carrier, the two services could be combined in one run with a maximum of 4 hours operating time.",[],{"_type":144,"showCTA":7},"First Pilot Well Objective",{"_key":9969,"_type":193,"body":9970,"cta":9979,"title":9980},"31a38e6d13c6",[9971],{"_key":9972,"_type":173,"children":9973,"markDefs":9978,"style":182},"6ba390fad824",[9974],{"_key":9975,"_type":177,"marks":9976,"text":9977},"5ea4b53728870",[],"The objective of the second and third pilot wells was to run a set of memory gauges inside the gauge carrier combined with gauge cutter to confirm tubing clearance and acquire pressure temperature surveys simultaneously in two different wells with complete rig up and rig down operations carried by the same unit in the same day to confirm possibility to complete two wells in one day.",[],{"_type":144,"showCTA":7},"Second & Third Pilot Wells Objective",{"_key":9982,"_type":7274,"cta":9983,"listItems":9984,"title":9997,"twoColumn":22,"type":2555,"width":7291},"db510fc001c6",{"_type":144,"showCTA":7},[9985,9989,9993],{"_key":9986,"_type":7279,"description":9987,"title":9988},"32d161e1e7e3","Hunting gauge carrier\n(SL.NO#374-200-105).\nWell number: DY 102 TBG\nWel type: Oil Producer\nWHP: 3500 PSIG\nBottom hole pressure: 4793 PSIG\nBottom hole Temperature: 270°F","First Pilot Well",{"_key":9990,"_type":7279,"description":9991,"title":9992},"c0aceb13e945","Hunting gauge carrier\n(SL.NO#374-200-105).\nWell number: BB-0279 SS\nWel type: Oil Producer\nWHP: 796 PSIG\nBottom hole pressure: 2462 PSIG\nBottom hole Temperature: 244°F\nTD: 5819 ft ","Second Pilot Well",{"_key":9994,"_type":7279,"description":9995,"title":9996},"2db4a5c21be7","Hunting gauge carrier\n(SL.NO#374-200-105).\nWell number: BB-1252\nWel type: Oil Producer\nWHP: 1783 PSIG\nBottom hole pressure: 3656 PSIG\nBottom hole Temperature: 202°F\nTD: 6824 ft","Third Pilot Well","Wells Data",{"_key":9999,"_type":7274,"cta":10000,"introText":10001,"listItems":10002,"title":10019,"twoColumn":22,"type":2555,"width":7291},"75df79154880",{"_type":144,"showCTA":7},"All three pilot wells were successfully completed and all targets 100% achieved.",[10003,10006,10010,10013,10016],{"_key":10004,"_type":7279,"title":10005},"09f638ddd419","The first well was completed on the 27th\u002F06\u002F2024 within 3 operating hours including rig up and rig down. ",{"_key":10007,"_type":7279,"description":10008,"title":10009},"15a6c144a4da","End user confirmed satisfaction with regards to quality of data acquired as well as operating time saving as it saved 50% time and enhanced operational efficiency proving possibility to complete interventions in two wells in one day safely, within rigless day-operations frame. ","The second and third wells were completed back-to-back on 06th\u002F07\u002F2024 within 6 operating hours.",{"_key":10011,"_type":7279,"title":10012},"ee5b5551dbe5","End user confirmed satisfaction with regards to quality of data acquired as well as operating time saving as it saved 50% time.",{"_key":10014,"_type":7279,"title":10015},"f845eaa86668","Facilitated enhanced operational efficiency proving possibility to complete interventions in two wells in one day safely, within rigless day-operations frame. ",{"_key":10017,"_type":7279,"title":10018},"8028b0142b3e","The service company expressed satisfaction with the innovative design that involves tools protection, easy assembly \u002F disassembly and versatile design reducing inventory.","Job Outcome",[10021],{"_key":10022,"_type":10023,"asset":10024,"title":10026},"2873866a2387","file",{"_ref":10025,"_type":141},"file-2da3b9f110464b88b0c7f3b95094495f08f7f2b4-pdf","Hunting Gauge Carrier Case Study","We're excited to share a recent success story with our Hunting Gauge Carrier that significantly enhanced operational efficiency and equipment longevity for a major oil operator in the UAE.",{"_type":146,"alt":10029,"asset":10030,"crop":10032,"hotspot":10037},"Success across all targets | Two wells in 6 hours, same day | 50% Reduction in Operating Time",{"_ref":10031,"_type":141},"image-ab897ebb5484bb2602be31b97250a5226ed2b362-2000x2000-png",{"_type":5643,"bottom":10033,"left":10034,"right":10035,"top":10036},0.15931372549019596,0.2058823529411764,0.19607843137254888,0.15686274509803924,{"_type":5646,"height":10038,"width":10039,"x":10040,"y":10041},0.6838235294117648,0.5980392156862747,0.5049019607843137,0.4987745098039217,"2024-08-27T13:59:49.146Z",{"_type":9,"current":10044},"case-study-success-hunting-gauge-carrier-in-united-arab-emirates",[10046,10049,10052,10055],{"_key":10047,"_ref":10048,"_type":141},"1e7807395f60","f6f128cf-dd6a-4484-be00-ba14177ccd46",{"_key":10050,"_ref":10051,"_type":141},"5f6a7a86a6d8","ea0c0e9a-f7da-4e6e-935a-15a52a5fed01",{"_key":10053,"_ref":10054,"_type":141},"cea73fc06091","99e7aaba-f28a-430d-8deb-10159a44fae7",{"_key":10056,"_ref":10057,"_type":141},"595d0c51a623","585d27bf-ba17-4455-b5ec-9931abff3817","Case Study Success: Hunting Gauge Carrier in United Arab Emirates ","\u002Fnews\u002Fcase-study-success-hunting-gauge-carrier-in-united-arab-emirates",{"_createdAt":10061,"_id":10062,"_rev":10063,"_type":168,"_updatedAt":116,"body":10064,"categories":10426,"introText":10430,"mainImage":10431,"publishedAt":10441,"slug":10442,"tags":10444,"title":10448,"url":10449},"2024-08-01T08:55:03Z","560af782-bebc-4514-96f0-62ddb0f22f1d","Sy3FFEkt4VKop7rT0EK4ID",[10065,10073,10081,10089,10097,10104,10112,10120,10128,10136,10143,10151,10159,10167,10175,10182,10190,10198,10206,10214,10222,10229,10237,10245,10253,10261,10268,10276,10284,10292,10300,10307,10315,10323,10331,10339,10351,10363,10375,10387,10394,10402,10410,10418],{"_key":10066,"_type":173,"children":10067,"markDefs":10072,"style":182},"4cfc286c3e35",[10068],{"_key":10069,"_type":177,"marks":10070,"text":10071},"3745250f904e0",[179],"As the new GM of Connection Technology, what are your key priorities and vision for the group, and how do you plan to drive innovation and growth in these areas?",[],{"_key":10074,"_type":173,"children":10075,"markDefs":10080,"style":182},"239f86fb65ef",[10076],{"_key":10077,"_type":177,"marks":10078,"text":10079},"b0eda63bc94d0",[],"As the new General Manager of Connection Technology, I am deeply honored and privileged to lead our group into its next growth phase. The team has worked hard to build a strong foundation and is well-positioned to deliver results for our customers and stakeholders. Ultimately, our success is driven by our focus on providing unique technology to meet the demands of our customers. Hunting has consistently been at the forefront of this space, with a unique capability to identify opportunities and deliver innovative solutions. I anticipate continued growth by introducing the next generation of technology for the industry's most challenging applications.",[],{"_key":10082,"_type":173,"children":10083,"markDefs":10088,"style":182},"bbbeda7a0d6e",[10084],{"_key":10085,"_type":177,"marks":10086,"text":10087},"eeda8768725f0",[],"Our relationship-based customer engagement enables us to deeply understand our customers' challenges and leverage our extensive experience and resources to deliver innovative solutions. Prioritizing our customers' needs ensures we consistently provide unmatched value and drive industry-leading advancements.",[],{"_key":10090,"_type":173,"children":10091,"markDefs":10096,"style":182},"8fff49e2e956",[10092],{"_key":10093,"_type":177,"marks":10094,"text":10095},"67a26ece3b6d0",[],"By leveraging our advanced connection technologies and fostering close relationships with our customers, we will address the industry's evolving needs with precision and agility. Our commitment to understanding customer challenges and providing tailored high-value solutions will be the cornerstone of our continued success and industry leadership.",[],{"_key":10098,"_type":173,"children":10099,"markDefs":10103,"style":182},"6cb3346e1c6f",[10100],{"_key":10101,"_type":177,"marks":10102,"text":180},"227d5cb076cb0",[],[],{"_key":10105,"_type":173,"children":10106,"markDefs":10111,"style":182},"308eea9e58b1",[10107],{"_key":10108,"_type":177,"marks":10109,"text":10110},"e0a150112ce4",[179],"How do Hunting's Connection Technology and OCTG offerings align with the evolving needs of the energy sector, and what future advancements can we anticipate?",[],{"_key":10113,"_type":173,"children":10114,"markDefs":10119,"style":182},"64911bb78d60",[10115],{"_key":10116,"_type":177,"marks":10117,"text":10118},"81c15a9a8f49",[],"Our unrelenting focus on technology is a cornerstone of our business. With decades of experience in advanced manufacturing, we have been at the forefront of producing premium connection technology and Oil Country Tubular Goods (OCTG). Throughout this history, we have streamlined internal processes and deployed automation to ensure extremely high quality while maximizing efficiency and manufacturing throughput. This dedication to quality allows us to deliver some of the best-performing and highest-quality products that meet our customers' demands.",[],{"_key":10121,"_type":173,"children":10122,"markDefs":10127,"style":182},"4dfedff7c37b",[10123],{"_key":10124,"_type":177,"marks":10125,"text":10126},"93ed15f67e280",[],"Delivering technology requires more than just solving complex problems; it involves finding effective and commercially viable solutions. Achieving this critical balance is essential, and this is where Hunting truly excels. As the energy sector evolves, driven by rising energy demand, technological advancements, and increased exploration activities, one constant remains the need for innovation while maintaining operational efficiency. Hunting is uniquely positioned to meet this demand through our efficient, optimization-focused approach to product design and manufacturing.",[],{"_key":10129,"_type":173,"children":10130,"markDefs":10135,"style":182},"8acabb28e9cc",[10131],{"_key":10132,"_type":177,"marks":10133,"text":10134},"6b02f771c51b0",[],"Looking forward, we anticipate significant changes in the energy landscape. The OCTG market is poised for growth, driven by the expansion of unconventional energy sources like oil and shale gas. Additionally, advancements in OCTG products, including enhanced corrosion resistance and higher strength, will cater to the specific needs of emerging markets. We must continue to innovate and adapt, leveraging our strong foundation to align with these evolving needs and drive future advancements in the energy sector.",[],{"_key":10137,"_type":173,"children":10138,"markDefs":10142,"style":182},"71c6a5635284",[10139],{"_key":10140,"_type":177,"marks":10141,"text":180},"e827ad12a2390",[],[],{"_key":10144,"_type":173,"children":10145,"markDefs":10150,"style":182},"fffc183cd980",[10146],{"_key":10147,"_type":177,"marks":10148,"text":10149},"66b6aa31de66",[179],"Could you highlight some key achievements or projects where Hunting’s technologies have made a significant impact?",[],{"_key":10152,"_type":173,"children":10153,"markDefs":10158,"style":182},"73f116d4f9a5",[10154],{"_key":10155,"_type":177,"marks":10156,"text":10157},"3bc267f663bb0",[],"Hunting has a long history of providing connection technology for some of the most challenging and demanding applications worldwide. Our extensive use in deepwater projects, particularly in the Gulf of Mexico, stands as a testament to our commitment to performance and reliability. Acceptance in deepwater applications is widely regarded as the ultimate test of both the product and the company. This has defined our brand as one built on credibility, enabling us to explore numerous new growth opportunities with products serving other applications and markets.",[],{"_key":10160,"_type":173,"children":10161,"markDefs":10166,"style":182},"6ef31db45e6a",[10162],{"_key":10163,"_type":177,"marks":10164,"text":10165},"35925f7cc9d90",[],"In the ever-evolving energy market, the ability to pivot and address new applications and markets is crucial for long-term viability and success. Hunting has demonstrated this capability multiple times in recent years. For instance, the technical performance and qualification requirements for connection technology in deepwater have evolved significantly. Hunting has remained at the forefront by delivering innovative solutions to meet these industry challenges. This strategic agility has allowed us to pivot and address new applications and markets, ensuring we continue to deliver value and growth.",[],{"_key":10168,"_type":173,"children":10169,"markDefs":10174,"style":182},"bcafa5d599c0",[10170],{"_key":10171,"_type":177,"marks":10172,"text":10173},"32c8becab36a0",[],"A recent example of our adaptability is the launch and resounding success of our TEC-LOCK product line for the US onshore market. This flagship product line incorporates key elements from our offshore products and has been explicitly tailored for US onshore shale applications. TEC-LOCK has revolutionized the way US operators view premium connection technology by delivering premium performance without the traditional price tag. The adaptability of our engineering team, combined with our ability to optimize design for manufacturing, has not only secured this product as a true game changer for the US market but also set a new benchmark in the connection technology industry. This success is a testament to our commitment to delivering high-quality products.",[],{"_key":10176,"_type":173,"children":10177,"markDefs":10181,"style":182},"195357f72282",[10178],{"_key":10179,"_type":177,"marks":10180,"text":180},"d83070908c760",[],[],{"_key":10183,"_type":173,"children":10184,"markDefs":10189,"style":182},"94edc8300336",[10185],{"_key":10186,"_type":177,"marks":10187,"text":10188},"297b3d7c5b4f",[179],"What distinguishes Hunting's Connection Technology and OCTG in the marketplace, and how do these strengths reinforce our brand leadership?",[],{"_key":10191,"_type":173,"children":10192,"markDefs":10197,"style":182},"73c4c20bd2e4",[10193],{"_key":10194,"_type":177,"marks":10195,"text":10196},"d51814aee1cd0",[],"Beyond our commitment to leading in innovation, performance, and quality, Hunting holds a unique position. We are the only independent connection technology provider with a comprehensive product portfolio for all applications. Our extensive usage history—from the most demanding offshore deepwater projects to onshore shale and everything in between—attests to our longstanding market presence.",[],{"_key":10199,"_type":173,"children":10200,"markDefs":10205,"style":182},"45fce3fec7d0",[10201],{"_key":10202,"_type":177,"marks":10203,"text":10204},"352aae5f20280",[],"Our superior product offerings, paired with the commercial flexibility resulting from our independence from any single tubular mill supply, present an unparalleled value proposition. As connection technology requirements dictate well design and subsequent demand, Hunting stands uniquely poised to deliver high-performance solutions while enabling unmatched flexibility in sourcing the underlying commodity tubulars.",[],{"_key":10207,"_type":173,"children":10208,"markDefs":10213,"style":182},"f4a31be2fa7d",[10209],{"_key":10210,"_type":177,"marks":10211,"text":10212},"6622e4c01f040",[],"This flexibility allows operators to consider various mill sources while still meeting the technical requirements of the critical components in their well design. This approach promotes competition and frees operators from depending on a single supplier for their OCTG package.",[],{"_key":10215,"_type":173,"children":10216,"markDefs":10221,"style":182},"c0457daa5f5d",[10217],{"_key":10218,"_type":177,"marks":10219,"text":10220},"8eda146d524a0",[],"Our unwavering commitment to a customer-focused, relationship-driven approach to business development further strengthens our ability to deliver top-tier products with exceptional commercial flexibility. This dedication has earned us an enviable reputation that we are incredibly proud of and determined to uphold.",[],{"_key":10223,"_type":173,"children":10224,"markDefs":10228,"style":182},"f5a7325e1d2a",[10225],{"_key":10226,"_type":177,"marks":10227,"text":180},"95357f648f1f0",[],[],{"_key":10230,"_type":173,"children":10231,"markDefs":10236,"style":182},"0ec1bf89858a",[10232],{"_key":10233,"_type":177,"marks":10234,"text":10235},"dd494d5e3bc60",[179],"How does Hunting maintain its commitment to quality and innovation in its offerings, and why is this important for our long-term success?",[],{"_key":10238,"_type":173,"children":10239,"markDefs":10244,"style":182},"471607d07c7a",[10240],{"_key":10241,"_type":177,"marks":10242,"text":10243},"bc9f824452e90",[],"Our commitment to quality and innovation is deeply embedded in our culture and DNA. Reflecting on my earlier comment about Hunting's history of delivering products for deep-water applications, it's clear that such achievements are only possible through a genuine dedication to quality and innovation—a dedication that takes years to cultivate and prove. While many proclaim quality, truly delivering on that promise separates the wheat from the chaff.",[],{"_key":10246,"_type":173,"children":10247,"markDefs":10252,"style":182},"9907779dcd81",[10248],{"_key":10249,"_type":177,"marks":10250,"text":10251},"9b7b041a80cc0",[],"Our acceptance by major deep-water operators highlights our historic commitment to quality, but maintaining our position requires more than just past successes. We uphold this commitment through relentless process control, continuous improvement, and rigorous product validation. For instance, Hunting possesses a state-of-the-art R&D test facility where we conduct in-house testing before products become commercially available. Proving products on paper or through computer simulation is often insufficient when performance demands are high. Therefore, we rigorously test our products under a full range of load scenarios to ensure they meet our claims.",[],{"_key":10254,"_type":173,"children":10255,"markDefs":10260,"style":182},"41592435dd06",[10256],{"_key":10257,"_type":177,"marks":10258,"text":10259},"ebe343a12c010",[],"This thorough approach distinguishes Hunting in the industry and earns us the trust of many key customers",[],{"_key":10262,"_type":173,"children":10263,"markDefs":10267,"style":182},"5798ac3ef6cb",[10264],{"_key":10265,"_type":177,"marks":10266,"text":180},"31508815aabc0",[],[],{"_key":10269,"_type":173,"children":10270,"markDefs":10275,"style":182},"a5799f51a66b",[10271],{"_key":10272,"_type":177,"marks":10273,"text":10274},"b4e041ccfb89",[179],"What major industry trends are shaping the future of Connection Technology and OCTG, and how is Hunting positioning itself to lead these changes?",[],{"_key":10277,"_type":173,"children":10278,"markDefs":10283,"style":182},"28c480fba836",[10279],{"_key":10280,"_type":177,"marks":10281,"text":10282},"6b1d2cdddd940",[],"The ever-changing industry demands a proactive approach to stay at the forefront of technology and innovation. This is evident in conventional onshore shale applications that drill deeper, extend longer, and operate faster, requiring advanced connection technology to meet increased performance demands. Additionally, offshore and international markets continually evaluate bespoke performance requirements—whether in mechanical performance, unique dimensional needs, or the use of exotic materials for specific applications and environments.",[],{"_key":10285,"_type":173,"children":10286,"markDefs":10291,"style":182},"ef62442801ba",[10287],{"_key":10288,"_type":177,"marks":10289,"text":10290},"1c72f76fa6430",[],"Most interestingly, recent attention has focused on the Energy Transition markets, such as Geothermal and Carbon Capture and Storage. Many uses and applications in this area are still being explored and understood. This will undoubtedly challenge connection technology providers to deliver innovative solutions that meet unique performance parameters and incorporate exotic materials required in this space.",[],{"_key":10293,"_type":173,"children":10294,"markDefs":10299,"style":182},"bc3c1e92dbba",[10295],{"_key":10296,"_type":177,"marks":10297,"text":10298},"ffcc636c95920",[],"Hunting has already established a strong presence in this emerging field and is prepared to build upon our legacy to service the sector as it takes shape in the near term.",[],{"_key":10301,"_type":173,"children":10302,"markDefs":10306,"style":182},"320df39b5e35",[10303],{"_key":10304,"_type":177,"marks":10305,"text":180},"9f1b192ffcf5",[],[],{"_key":10308,"_type":173,"children":10309,"markDefs":10314,"style":182},"8f057d31dff6",[10310],{"_key":10311,"_type":177,"marks":10312,"text":10313},"4ad20d97d70c0",[179],"Can you provide an overview of the key benefits and applications of Hunting's Connection Technology and OCTG products?",[],{"_key":10316,"_type":173,"children":10317,"markDefs":10322,"style":182},"5036bae582ca",[10318],{"_key":10319,"_type":177,"marks":10320,"text":10321},"d148724585530",[],"Operators typically demand the use of premium connections for several reasons: increased performance, heightened reliability, or simply increased confidence to avoid problems. However, choosing premium connections brings a new set of challenges. Operators must decide how to achieve their objectives without compromising the project's overall economics. This decision-making process can sometimes lead to the adoption of unproven connection technology, which increases risk. Moreover, the demand for connection technology often drives the supply chain, forcing operators into material sourcing strategies that may not be necessary for the application and trapping them in commercial structures that increase risk.",[],{"_key":10324,"_type":173,"children":10325,"markDefs":10330,"style":182},"6354412ba0d1",[10326],{"_key":10327,"_type":177,"marks":10328,"text":10329},"e6437e6d82090",[],"Hunting offers the only independent, full-portfolio connection technology available in the market today. This comprehensive product range is critical as it covers nearly every application required by the industry, from deepwater offshore to onshore shale, and supports the needs of international markets. Our independence from any singular tubular mill source provides tremendous commercial flexibility for material sourcing. This allows our customers to obtain the product performance they demand without being constrained to any single tube source, ensuring both reliability and economic efficiency.",[],{"_key":10332,"_type":173,"children":10333,"markDefs":10338,"style":182},"83d58e697b2d",[10334],{"_key":10335,"_type":177,"marks":10336,"text":10337},"5517b9761c0f0",[179,216],"Key Benefits and Applications of Hunting's Connection Technology and OCTG Products: ",[],{"_key":10340,"_type":173,"children":10341,"markDefs":10350,"style":182},"b49e13528e3d",[10342,10346],{"_key":10343,"_type":177,"marks":10344,"text":10345},"a7788d922a490",[179],"Wide Range of Applications:",{"_key":10347,"_type":177,"marks":10348,"text":10349},"a7788d922a491",[]," Hunting's connection technology and OCTG products are suitable for diverse environments, including deepwater offshore, onshore shale, and international markets.",[],{"_key":10352,"_type":173,"children":10353,"markDefs":10362,"style":182},"5487210e71f7",[10354,10358],{"_key":10355,"_type":177,"marks":10356,"text":10357},"eea7c70640b90",[179],"Increased Performance and Reliability:",{"_key":10359,"_type":177,"marks":10360,"text":10361},"eea7c70640b91",[]," Our premium connections are designed to enhance performance and reliability, giving operators the confidence to avoid potential problems.",[],{"_key":10364,"_type":173,"children":10365,"markDefs":10374,"style":182},"e0c34ccb66b2",[10366,10370],{"_key":10367,"_type":177,"marks":10368,"text":10369},"e36d9b7692420",[179],"Commercial Flexibility:",{"_key":10371,"_type":177,"marks":10372,"text":10373},"e36d9b7692421",[]," Independence from any singular tubular mill source allows for flexible material sourcing, helping operators maintain economic efficiency.",[],{"_key":10376,"_type":173,"children":10377,"markDefs":10386,"style":182},"797d26637a24",[10378,10382],{"_key":10379,"_type":177,"marks":10380,"text":10381},"372b26dfd9240",[179],"Proven Technology:",{"_key":10383,"_type":177,"marks":10384,"text":10385},"372b26dfd9241",[]," With a full portfolio of established and trusted connection technology, Hunting reduces the risk associated with unproven alternatives, ensuring the success of the operators' projects.",[],{"_key":10388,"_type":173,"children":10389,"markDefs":10393,"style":182},"b1f9aeb63f25",[10390],{"_key":10391,"_type":177,"marks":10392,"text":180},"19f8b90225c4",[],[],{"_key":10395,"_type":173,"children":10396,"markDefs":10401,"style":182},"8ade5a0b4522",[10397],{"_key":10398,"_type":177,"marks":10399,"text":10400},"a541cd11ff6e0",[179],"As we look ahead, what message would you like to convey about the future of Hunting's Connection Technology and OCTG Group?",[],{"_key":10403,"_type":173,"children":10404,"markDefs":10409,"style":182},"170631600712",[10405],{"_key":10406,"_type":177,"marks":10407,"text":10408},"4c27fefe30a50",[],"As we move forward, my message is one of unwavering confidence and optimism. Hunting's Connection Technology and OCTG group is poised for remarkable growth and innovation, driven by our relentless commitment to excellence, quality, and customer satisfaction. We are at the forefront of technological advancements, ready to tackle the industry's most demanding challenges with precision and agility.",[],{"_key":10411,"_type":173,"children":10412,"markDefs":10417,"style":182},"89d0e8f80003",[10413],{"_key":10414,"_type":177,"marks":10415,"text":10416},"7812f5d247100",[],"Our dedication to seeking new opportunities and driving strategic innovation and market expansion remains strong. Customers can continue to rely on us for unparalleled service, cutting-edge solutions, and a deep understanding of their evolving needs.",[],{"_key":10419,"_type":173,"children":10420,"markDefs":10425,"style":182},"63258d9f4a30",[10421],{"_key":10422,"_type":177,"marks":10423,"text":10424},"d836452a82da0",[],"In the rapidly evolving energy sector, Hunting is uniquely positioned to lead, innovate, and grow. Our focus on delivering high-value solutions, maintaining operational efficiency, and staying ahead of market trends ensures that we will remain a trusted partner and industry leader. The future holds immense promise, and I am confident that, together, we will achieve new heights of success. ",[],[10427],{"_key":10428,"_ref":10429,"_type":141},"f8373463b3ef","8467000e-8cbf-45b5-969d-cb93d786960e","To provide a deeper understanding of Hunting's strategic navigation through the evolving energy sector, we recently sat down with Travis Kelley, General Manager of Connection Technology. He discussed his key priorities, vision for the group, and strategies for driving innovation and growth.",{"_type":146,"alt":10432,"asset":10433,"crop":10435,"hotspot":10436},"Headshot of Travis Kelley",{"_ref":10434,"_type":141},"image-a32096de6e06fd86b0a25dffa72c941f2954c2d1-1024x1536-jpg",{"_type":5643,"bottom":5644,"left":5644,"right":5644,"top":5644},{"_type":5646,"height":10437,"width":10438,"x":10439,"y":10440},0.40545588235294183,0.5882352941176471,0.5036764705882353,0.20272794117647092,"2024-08-01T04:42:17.764Z",{"_type":9,"current":10443},"insights-into-innovation-a-conversation-with-travis-kelley-gm-of-connection-technology",[10445],{"_key":10446,"_ref":10447,"_type":141},"9855f136cf5c","deac1549-3d6c-440f-8135-93fde7a90246","Insights Into Innovation: A Conversation With Travis Kelley, GM of Connection Technology","\u002Fnews\u002Finsights-into-innovation-a-conversation-with-travis-kelley-gm-of-connection-technology",{"_createdAt":10451,"_id":10452,"_rev":10453,"_type":168,"_updatedAt":116,"categories":10454,"content":10457,"introText":10959,"publishedAt":10960,"slug":10961,"tags":10963,"title":10969,"url":10970},"2024-07-09T06:42:02Z","bb313f73-4c7f-43aa-b577-3024758e4601","DBMO57ZIr7O8zFikjHd5Cc",[10455],{"_key":10456,"_ref":1713,"_type":141},"b4b18f3763ca",[10458,10483,10502,10523,10607,10687,10774,10861,10907,10921],{"_key":10459,"_type":7274,"cta":10460,"listItems":10461,"title":1339,"type":2555,"width":7291},"1e828c509492",{"_type":144,"showCTA":7},[10462,10465,10468,10471,10474,10477,10480],{"_key":10463,"_type":7279,"title":10464},"2465eadba064","Sales order book at 30 June 2024 was c.$700m compared to $565m at 31 December 2023, supported  by orders totalling $231m from Kuwait Oil Company (“KOC”).",{"_key":10466,"_type":7279,"title":10467},"7bff960b037f","H1 2024 trading has been ahead of management’s expectations driven by the strong performance in the Group’s OCTG, Subsea and Advanced Manufacturing product groups.",{"_key":10469,"_type":7279,"title":10470},"23f6f1e12a2a","Perforating Systems reported headwinds in the period, leading to the implementation of a cost reduction  programme that is projected to save c.$6m-$7m annually.",{"_key":10472,"_type":7279,"title":10473},"910078015d86","Good progress with Energy Transition strategy, with geothermal orders being secured in Asia Pacific,  Europe and North America",{"_key":10475,"_type":7279,"title":10476},"59031433117a","EBITDA for the first half of 2024 is likely to be in the range of $59m-$61m - ahead of management’s  expectations and c.22% ahead of H1 2023 and c.13% ahead of H2 2023.",{"_key":10478,"_type":7279,"title":10479},"d1e8d787a879","EBITDA margin of c.12% (H1 2023 – 10%; H2 2023 – 12%) delivered in the period and remains on track  to achieve 12-13% for the full year.",{"_key":10481,"_type":7279,"title":10482},"b6ca3342520b","Balance sheet remains robust with total cash and bank \u002F (borrowings) expected to be $(11)m-$(9)m at  30 June 2024, with a cash inflow of c.$23m in Q2, as cash generation increases.",{"_key":10484,"_type":7274,"cta":10485,"listItems":10486,"title":1381,"type":2555,"width":7291},"421d6fc87d7a",{"_type":144,"showCTA":7},[10487,10490,10493,10496,10499],{"_key":10488,"_type":7279,"title":10489},"a548775a8328","Outlook for the full year 2024 and 2025 is positive given the KOC orders secured, which will be recognised beginning in Q4 2024 through H1 2025.",{"_key":10491,"_type":7279,"title":10492},"c88d7f4792a7","Group performance for H2 2024 is projected to be ahead of H1 based on performance and cost reduction  measures, therefore management is increasing EBITDA guidance for the 2024 full-year to c.$134m- $138m.",{"_key":10494,"_type":7279,"title":10495},"84e24fb639c6","Management anticipates EBITDA to Free Cash Flow conversion to be c.50% for the full year and are  targeting total cash and bank \u002F (borrowings) at 31 December 2024 of between $30m-$40m.",{"_key":10497,"_type":7279,"title":10498},"27094301efa3","Based on the quantum of the sales order book, which extends into 2026, management anticipates  EBITDA to be in the range of $160m-$175m for the year ended 31 December 2025.",{"_key":10500,"_type":7279,"title":10501},"f9de8927d481","Capital expenditure for the full year 2024 is anticipated to be c.$40m-$45m.",{"_key":10503,"_type":193,"body":10504,"cta":10521,"introText":10522},"ed391a2754a8",[10505,10513],{"_key":10506,"_type":173,"children":10507,"markDefs":10512,"style":182},"d554d8b25130",[10508],{"_key":10509,"_type":177,"marks":10510,"text":10511},"5ef90fd7580d0",[],"“At c.$700m, our sales order book nears the highest in the Company’s history, which supports strong revenue and earnings visibility well into 2025. We are delighted to have secured the significant orders from KOC. This achievement is the result of over six years of collaboration with KOC, supported by Hunting’s industry leading premium connection technology, our strategic supply chains and our commitment to our clients to deliver value.",[],{"_key":10514,"_type":173,"children":10515,"markDefs":10520,"style":182},"7a1f5c5b4077",[10516],{"_key":10517,"_type":177,"marks":10518,"text":10519},"b90e25e3ac0e",[],"“Our business success has supported strong delivery of the Hunting 2030 Strategy. Management remains confident of delivering our EBITDA to Free Cash Flow target of 50% based on our expected financial performance for the remainder of the year.\" ",[],{"_type":144,"showCTA":7},"Commenting on H1 2024 trading Update and the market outlook, Hunting’s Chief Executive, Jim Johnson, said:",{"_key":10524,"_type":268,"body":10525,"introText":10550,"tables":10551,"title":10606},"3dddca8a16fa",[10526,10534,10542],{"_key":10527,"_type":173,"children":10528,"markDefs":10533,"style":182},"77c7f7142abc",[10529],{"_key":10530,"_type":177,"marks":10531,"text":10532},"4267eba9eea00",[],"EBITDA in H1 2024 is expected to be in the range of $59m-$61m, including the Group’s share of associates’ and joint ventures’ results. Management anticipates an EBITDA margin of c.12% to be recorded in the period, which compares to 10% in H1 2023 and 12% in H2 2023. ",[],{"_key":10535,"_type":173,"children":10536,"markDefs":10541,"style":182},"b9bc7370e556",[10537],{"_key":10538,"_type":177,"marks":10539,"text":10540},"0803d496c312",[],"Working capital has increased marginally in the period, however, total cash and bank \u002F (borrowings) is projected to be c.$(11)m-$(9)m at 30 June 2024, as cash collections have improved through the second quarter, with a c.$23m inflow during Q2. ",[],{"_key":10543,"_type":173,"children":10544,"markDefs":10549,"style":182},"2da92c2631f7",[10545],{"_key":10546,"_type":177,"marks":10547,"text":10548},"e0148654218c",[],"During Q2 2024, the Company has commenced purchasing its ordinary shares at a monthly rate of c.$1.0m for transfer to the Employee Benefit Trust operated by the Group to satisfy future share award vestings.",[],"The Group’s sales order book is anticipated to be c.$700m at 30 June 2024, reflecting the material orders received from KOC in the period. The 2023 year-end sales order book was $565m.\n\nThe monthly revenue run rate in H1 2024 is expected to be c.$82m, which compares to $79.6m in H1 2023 and $75.2m in H2 2023.",[10552],{"_key":10553,"_type":289,"headerAlignment":290,"layout":291,"table":10554,"type":289},"2c481953badb",{"rows":10555},[10556,10562,10565,10572,10578,10585,10591,10598,10602],{"_key":10557,"_type":296,"cells":10558},"dca39209-c70c-4352-8312-59e7a6ecad15",[180,10559,10560,10561],"H1 2024","H2 2023","H1 2023",{"_key":10563,"_type":296,"cells":10564},"e7f5210a-a5b8-423c-b6b4-100728ff9a2f",[180,303,303,303],{"_key":10566,"_type":296,"cells":10567},"b907fa93-be57-4d02-b876-3d022e9609a2",[10568,10569,10570,10571],"Sales orderbook","700","565","530",{"_key":10573,"_type":296,"cells":10574},"98665f8d-7ed8-4c5d-9cb5-d89e26e3cd61",[307,10575,10576,10577],"492","451","478",{"_key":10579,"_type":296,"cells":10580},"5c771244-72a4-4303-bf3e-46ecd8c95794",[10581,10582,10583,10584],"EBITDAi","59-61","53","49",{"_key":10586,"_type":296,"cells":10587},"4410f96c-66bd-4413-941d-1576dfcbca3b",[10588,326,10589,10590],"EBITDA margin","12% ","10% ",{"_key":10592,"_type":296,"cells":10593},"19db9866-6244-4d08-b510-71a1041a3a0b",[10594,10595,10596,10597],"Total cash and bank \u002F (borrowings)ii","(11)-(9) ","(1)","(52)",{"_key":10599,"_type":296,"cells":10600},"782651d0-3a08-4a74-bdf8-15ff793a2f4e",[10601,180,180,180],"i. EBITDA for H1 and H2 2023 has been restated to include the Group’s share of associates’ and joint ventures’ results",{"_key":10603,"_type":296,"cells":10604},"0e4a453e-dd90-41e5-91dd-7b7855a9cf4f",[10605,180,180,180],"ii. Q1 2024 total cash and bank \u002F (borrowings) $(34)m","Trading Statement",{"_key":10608,"_type":193,"body":10609,"cta":10685,"title":10686},"0e6858a86ee9",[10610,10617,10625,10632,10640,10647,10655,10662,10670,10677],{"_key":10611,"_type":173,"children":10612,"markDefs":10616,"style":182},"12441f590f77",[10613],{"_key":10614,"_type":177,"marks":10615,"text":180},"19428fb671f5",[],[],{"_key":10618,"_type":173,"children":10619,"markDefs":10624,"style":182},"b8e130d90c02",[10620],{"_key":10621,"_type":177,"marks":10622,"text":10623},"db7b0145c6290",[],"The outlook for the Group remains positive given the strength of international and offshore markets, which are the primary beneficiaries of global industry capital spend, which is driving momentum within Hunting’s OCTG and Subsea product groups, along with further progress within Advanced Manufacturing’s end-markets. Natural gas prices are expected to improve in the second half of the year across North America and into 2025 as LNG capacity is planned in the US which, if achieved, will support the outlook for gas-focused drilling. This should lead to a modest recovery within Hunting’s Perforating Systems product group, with shorter-term trading improvements to be driven by the cost efficiency initiatives noted below.",[],{"_key":10626,"_type":173,"children":10627,"markDefs":10631,"style":182},"7006f53cd9c5",[10628],{"_key":10629,"_type":177,"marks":10630,"text":180},"1bcd11e0686a",[],[],{"_key":10633,"_type":173,"children":10634,"markDefs":10639,"style":182},"3b43dbe352ab",[10635],{"_key":10636,"_type":177,"marks":10637,"text":10638},"20681fa886d50",[],"With the inclusion of the impact of the KOC orders, management now anticipates 2024 full year EBITDA to be in the range of c.$134m-$138m.",[],{"_key":10641,"_type":173,"children":10642,"markDefs":10646,"style":182},"7839f71e334f",[10643],{"_key":10644,"_type":177,"marks":10645,"text":180},"3c52734ed745",[],[],{"_key":10648,"_type":173,"children":10649,"markDefs":10654,"style":182},"e84b4bccea55",[10650],{"_key":10651,"_type":177,"marks":10652,"text":10653},"b45112f6e66e0",[],"In the second half of 2024, management projects that working capital will reduce, driving an EBITDA to Free Cash Flow conversion for 2024 of 50% or greater. Year-end total cash and bank \u002F (borrowings) is now targeted at c.$30m-$40m.",[],{"_key":10656,"_type":173,"children":10657,"markDefs":10661,"style":182},"553b856071ae",[10658],{"_key":10659,"_type":177,"marks":10660,"text":180},"7d034223eaba",[],[],{"_key":10663,"_type":173,"children":10664,"markDefs":10669,"style":182},"449d737863c5",[10665],{"_key":10666,"_type":177,"marks":10667,"text":10668},"934b2d3c58700",[],"Capital expenditure for the full year 2024 is anticipated to be c.$40m-$45m. The Company continues to have the financial flexibility to undertake M&A where it can secure opportunities, which it believes will enhance its business both operationally and financially",[],{"_key":10671,"_type":173,"children":10672,"markDefs":10676,"style":182},"f9d4786b733e",[10673],{"_key":10674,"_type":177,"marks":10675,"text":180},"d32d591e2f67",[],[],{"_key":10678,"_type":173,"children":10679,"markDefs":10684,"style":182},"8e24a2c44d5b",[10680],{"_key":10681,"_type":177,"marks":10682,"text":10683},"4bc878943bb40",[],"Based on the anticipated timing of the KOC order fulfilment, whereby the majority of the revenue and EBITDA will be recognised in 2025, management anticipates full-year 2025 EBITDA to be in the range of c.$160m- $175m.",[],{"_type":144,"showCTA":7},"Outlook for 2024 and 2025",{"_key":10688,"_type":193,"body":10689,"cta":10772,"title":10773},"c70806679ae8",[10690,10698,10705,10713,10720,10728,10735,10743,10750,10758,10765],{"_key":10691,"_type":173,"children":10692,"markDefs":10697,"style":182},"4ebc389830b7",[10693],{"_key":10694,"_type":177,"marks":10695,"text":10696},"d47a552cfb0c0",[],"Hunting’s OCTG product group has recorded significant success during the reporting period, led by the two orders totalling $231m received from KOC, which were secured by our Asia Pacific operating segment in May 2024. In the US, demand for the Group’s TEC-LOCK™ connection has continued to increase, despite the weaker rig count, as market share gains in certain basins have occurred in the period. Overall, the Company’s global OCTG and Premium Connections offering has recorded strong success in the period, across Hunting’s WEDGE-LOCK™, SEAL-LOCK™ and TEC-LOCK™ connection families, supported by the continuation of accessories manufacturing for utilisation in Guyana and other international markets. The Group’s joint venture facility in India has secured its API licence in the period, which will enable the facility to participate in further tenders, with the JV’s backlog now extending into 2025. Hunting has also recorded progress in its Energy Transition strategy with OCTG supply contracts being secured in the US, Europe and Southeast Asia for a number of geothermal projects, including the US’s ‘Hell’s Kitchen’ development in California.",[],{"_key":10699,"_type":173,"children":10700,"markDefs":10704,"style":182},"daf35aea3d36",[10701],{"_key":10702,"_type":177,"marks":10703,"text":180},"fa30726864a8",[],[],{"_key":10706,"_type":173,"children":10707,"markDefs":10712,"style":182},"f5500be2e368",[10708],{"_key":10709,"_type":177,"marks":10710,"text":10711},"c62532f58d7b0",[],"The Perforating Systems product group has reported trading headwinds during H1 2024, driven by industry capital discipline and the lower average natural gas price recorded across the period restricting drilling activity, which has led to a reduction in the US onshore rig count since the start of the year. Well completion activity, particularly in gas-focused shale basins, has reduced significantly with some oil-focused drilling also impacted as operators are unable to flare excess gas produced with crude oil offtake, which has led to the reduction in activity in the Permian basin. Partially offsetting this regional weakness is the strength of international sales totalling c.$23m in the period to regions such as Argentina and Saudi Arabia.",[],{"_key":10714,"_type":173,"children":10715,"markDefs":10719,"style":182},"dcaf38194d51",[10716],{"_key":10717,"_type":177,"marks":10718,"text":180},"194cf0fc468d",[],[],{"_key":10721,"_type":173,"children":10722,"markDefs":10727,"style":182},"482557a77607",[10723],{"_key":10724,"_type":177,"marks":10725,"text":10726},"9153dc4dfd630",[],"Hunting’s Subsea product group continues to report strong business momentum and performance, and during the period continued to deliver for projects in Guyana, with titanium stress joints for the Yellowtail project being shipped in the period. The Company’s hydraulic couplings and valves business has seen strong demand in the reporting period with a number of monthly sales records being reported in H1 2024. The Enpro Subsea business unit has seen an increase in its sales orderbook in the period, with new rental work being secured for its Flow Intervention Modules in Guyana. The product line reports strong bid activity across multiple regions, including South America and the Gulf of Mexico, and sees further longer-term growth from Africa where recent discoveries in Namibia and Mozambique will provide new, material opportunities for the Group. Overall, the product group is seeing solid financial performance and strong cash conversion from operating activities, with the 2024 performance likely to be more weighted to H1, due to the timing of order completions.",[],{"_key":10729,"_type":173,"children":10730,"markDefs":10734,"style":182},"9c65eb2c861b",[10731],{"_key":10732,"_type":177,"marks":10733,"text":180},"10eeea5e629c",[],[],{"_key":10736,"_type":173,"children":10737,"markDefs":10742,"style":182},"13a3a148532d",[10738],{"_key":10739,"_type":177,"marks":10740,"text":10741},"df54c11e3ddf0",[],"The Advanced Manufacturing product group has reported increased energy-related and non-oil and gas sales in the reporting period. The Electronics business unit has seen good demand for printed circuit boards to major energy services groups as well as demand for medical-related electronics in the period. The Dearborn business unit also reports good demand for its naval, power generation and aviation products, along with its energy-related sales. The Advanced Manufacturing sales order book remains solid, supporting a robust outlook for the second half.",[],{"_key":10744,"_type":173,"children":10745,"markDefs":10749,"style":182},"ec320a46c15d",[10746],{"_key":10747,"_type":177,"marks":10748,"text":180},"ec164b6e9b97",[],[],{"_key":10751,"_type":173,"children":10752,"markDefs":10757,"style":182},"b6ac78ddfdd7",[10753],{"_key":10754,"_type":177,"marks":10755,"text":10756},"edcd9bce67780",[],"Within Other Manufacturing, the Group’s Organic Oil Recovery Technology continues to be piloted on a number of wells across multiple reservoirs with large operators, enhancing oil recovery through the activation of microbial life within reservoirs.",[],{"_key":10759,"_type":173,"children":10760,"markDefs":10764,"style":182},"635fcae8feae",[10761],{"_key":10762,"_type":177,"marks":10763,"text":180},"36926b14cfba",[],[],{"_key":10766,"_type":173,"children":10767,"markDefs":10771,"style":182},"3f152eb54e97",[10768],{"_key":10769,"_type":177,"marks":10770,"text":180},"c96b374ebdbb",[],[],{"_type":144,"showCTA":7},"Product Summary",{"_key":10775,"_type":193,"body":10776,"cta":10859,"title":10860},"5da568f9cfb4",[10777,10785,10792,10800,10807,10815,10822,10830,10837,10845,10852],{"_key":10778,"_type":173,"children":10779,"markDefs":10784,"style":182},"1611694b8bca",[10780],{"_key":10781,"_type":177,"marks":10782,"text":10783},"1ebe9c06a7730",[],"As noted above, with the commentary on our Perforating Systems product group, the Hunting Titan operating segment has reported headwinds during the first half of 2024. Revenue is likely to be c.9% lower than in H1 2023, with EBITDA margins of c.2% reflecting lower activity in North America. Given the decline in performance of Hunting Titan, Hunting commenced the closure of the Wichita Falls operating site, with production being transferred to the Pampa operating site. Two distribution centres in Red Deer, Canada, and Marshall, Texas, are also being closed in H2, with sales being managed from other centres across North America. Hunting Titan has also completed a reduction-in-force programme during Q2 2024, with 92 positions being removed to align with current market activity. Annualised cost savings are likely to be c.$6m-$7m, with a c.$3m saving expected in H2 2024, which will contribute to an improved profitability in the second half of the year. Margins are expected to improve for the full year as the impact of the cost efficiency programmes are realised.",[],{"_key":10786,"_type":173,"children":10787,"markDefs":10791,"style":182},"9d597d27f0d8",[10788],{"_key":10789,"_type":177,"marks":10790,"text":180},"a36a03ae021d",[],[],{"_key":10793,"_type":173,"children":10794,"markDefs":10799,"style":182},"1d0305ca4f22",[10795],{"_key":10796,"_type":177,"marks":10797,"text":10798},"d658b52ded670",[],"The North America operating segment has benefited from continued success with its OCTG and Premium Connections businesses as well as strengthening Advanced Manufacturing revenue, including non-oil and gas sales. Revenue is likely to be in line with H1 2023, with EBITDA margins projected to be c.15% reflecting higher facility utilisation and selected pricing increases across these product lines.",[],{"_key":10801,"_type":173,"children":10802,"markDefs":10806,"style":182},"72d3a2293a07",[10803],{"_key":10804,"_type":177,"marks":10805,"text":180},"45529e345d14",[],[],{"_key":10808,"_type":173,"children":10809,"markDefs":10814,"style":182},"3dafb49dcf83",[10810],{"_key":10811,"_type":177,"marks":10812,"text":10813},"a5ae81ba7df60",[],"The Subsea Technologies operating segment has had a strong performance in H1 2024, as discussed above, and revenue is expected to be c.85% higher year-on year, with EBITDA margins expected to be c.22%.",[],{"_key":10816,"_type":173,"children":10817,"markDefs":10821,"style":182},"eb4eb9e4c9d9",[10818],{"_key":10819,"_type":177,"marks":10820,"text":180},"ebf866c9faf3",[],[],{"_key":10823,"_type":173,"children":10824,"markDefs":10829,"style":182},"9f96ec28a34d",[10825],{"_key":10826,"_type":177,"marks":10827,"text":10828},"03c55dcf27680",[],"The EMEA operating segment has reported mixed results, due to subdued activity in the North Sea, partially offset by stronger Middle East performance. Revenue is likely to be c.1% higher than in H1 2023, with EBITDA margins slightly below zero.",[],{"_key":10831,"_type":173,"children":10832,"markDefs":10836,"style":182},"9c76b10ebaa5",[10833],{"_key":10834,"_type":177,"marks":10835,"text":180},"de7ef63d8209",[],[],{"_key":10838,"_type":173,"children":10839,"markDefs":10844,"style":182},"2717ea5a0aaf",[10840],{"_key":10841,"_type":177,"marks":10842,"text":10843},"bf6ab49d9da70",[],"The Asia Pacific operating segment has delivered revenue of c.8% lower than in H1 2023; however, EBITDA margins of c.16% have been realised in the period as higher facility utilisation and stronger margin business has been captured. The performance of the segment will see a material step up in H2 due to the KOC orders being completed across the next four trading quarters.",[],{"_key":10846,"_type":173,"children":10847,"markDefs":10851,"style":182},"941f699f0068",[10848],{"_key":10849,"_type":177,"marks":10850,"text":180},"9a3c44e2c362",[],[],{"_key":10853,"_type":173,"children":10854,"markDefs":10858,"style":182},"2b86cdb1413b",[10855],{"_key":10856,"_type":177,"marks":10857,"text":180},"dd5470d4b0d9",[],[],{"_type":144,"showCTA":7},"Operating Segment Summary",{"_key":10862,"_type":193,"body":10863,"cta":10905,"title":10906},"a6d8c03743a1",[10864,10872,10879,10897],{"_key":10865,"_type":173,"children":10866,"markDefs":10871,"style":182},"4497aa5aa6c5",[10867],{"_key":10868,"_type":177,"marks":10869,"text":10870},"2fb2145637470",[],"An analyst presentation in respect of the 2024 Half Year Results has been arranged for 9:00am (UK) on Thursday 29 August 2024, at the offices of CMS at Cannon Place, 78 Cannon St, London, EC4N 6AF.",[],{"_key":10873,"_type":173,"children":10874,"markDefs":10878,"style":182},"6cf460ead530",[10875],{"_key":10876,"_type":177,"marks":10877,"text":180},"75dbead40cb8",[],[],{"_key":10880,"_type":173,"children":10881,"markDefs":10895,"style":182},"a5e398d4fa71",[10882,10886,10891],{"_key":10883,"_type":177,"marks":10884,"text":10885},"656d53ede7820",[],"An analyst presentation in respect of the 2024 Half Year Results has been arranged for 9:00am (UK) on Thursday 29 August 2024, at the offices of CMS at Cannon Place, 78 Cannon St, London, EC4N 6AF. After this, Hunting’s management will provide a live presentation via the Investor Meet Company platform on 29 August, commencing at 10:30am (UK). The presentation is open to all existing and potential shareholders. Questions can be submitted prior to this presentation via the Investor Meet Company dashboard up until 9:00am the day before the meeting or at any time during the live presentation. Investors can sign up to Investor Meet Company for free and add to meet Hunting PLC at ",{"_key":10887,"_type":177,"marks":10888,"text":10890},"f7e620081192",[10889],"c529d9971b7a","Register Investor - InvestorMeetCompany",{"_key":10892,"_type":177,"marks":10893,"text":10894},"0ce9e6d85b6a",[]," ",[10896],{"_key":10889,"_type":138,"href":9753},{"_key":10898,"_type":173,"children":10899,"markDefs":10904,"style":182},"1f561dfedbae",[10900],{"_key":10901,"_type":177,"marks":10902,"text":10903},"4180d3df9236",[],"Investors who already follow Hunting on the Investor Meet Company platform will automatically be invited. ",[],{"_type":144,"showCTA":7},"2024 Half Year Results Briefing & Investor Meet Company",{"_key":10908,"_type":7274,"cta":10909,"introText":1126,"listItems":10910,"title":10920,"type":2555,"width":7291},"1e7b596ab918",{"_type":144,"showCTA":7},[10911,10914,10917],{"_key":10912,"_type":7279,"description":10913,"title":1134},"d2381ef6224c","Jim Johnson, Chief Executive \nBruce Ferguson, Finance Director\n\nTel: +44 (0) 20 7321 0123",{"_key":10915,"_type":7279,"description":10916,"title":8934},"89e67f867f00","Ben Romney \nBarry Archer\n\nTel: +44 (0) 20 7466 5000",{"_key":10918,"_type":7279,"description":9826,"title":10919},"e2eedfaaf6cb","Or","Get In Touch",{"_key":10922,"_type":193,"body":10923,"cta":10956,"introText":10957,"title":10958},"ed7b76bbdf55",[10924,10932,10940,10948],{"_key":10925,"_type":173,"children":10926,"markDefs":10931,"style":182},"31cd4252f328",[10927],{"_key":10928,"_type":177,"marks":10929,"text":10930},"ae3aa63ca7fb0",[],"About Hunting PLC Hunting is a global engineering group that provides precision-manufactured equipment and premium services which adds value for our customers. Established in 1874, it is a premium listed public company traded on the London Stock Exchange. The Company maintains a corporate office in Houston and is headquartered in London. As well as the United Kingdom, the Company has operations in China, India, Indonesia, Mexico, Netherlands, Norway, Saudi Arabia, Singapore, United Arab Emirates and the United States of America. ",[],{"_key":10933,"_type":173,"children":10934,"markDefs":10939,"style":182},"984f0152d869",[10935],{"_key":10936,"_type":177,"marks":10937,"text":10938},"4c1a845ddbf9",[],"The Group reports in US dollars across five operating segments: Hunting Titan; North America; Subsea Technologies; Europe, Middle East and Africa (“EMEA”) and Asia Pacific. ",[],{"_key":10941,"_type":173,"children":10942,"markDefs":10947,"style":182},"ac8fd13028f4",[10943],{"_key":10944,"_type":177,"marks":10945,"text":10946},"73232ef87771",[],"The Group also reports revenue and EBITDA financial metrics based on five product groups: OCTG, Perforating Systems, Subsea, Advanced Manufacturing and Other ",[],{"_key":10949,"_type":173,"children":10950,"markDefs":10955,"style":182},"10a563376f9e",[10951],{"_key":10952,"_type":177,"marks":10953,"text":10954},"f455285091ae",[],"Manufacturing. Hunting PLC’s Legal Entity Identifier is 2138008S5FL78ITZRN66.",[],{"_type":144,"showCTA":7},"About Hunting PLC ","Notes to Editors:","Hunting PLC issued its trading update ahead of the Half-Year Results, which will be released on Thursday, August 29, 2024.\n\nSee below for full release. ","2024-07-09T06:41:05.864Z",{"_type":9,"current":10962},"h1-2024-trading-update",[10964,10966],{"_key":10965,"_ref":7180,"_type":141},"ee8236f8a9c9",{"_key":10967,"_ref":10968,"_type":141},"b68479005842","56de3f81-f898-46d2-9535-1b13528183a2","H1 2024 Trading Update","\u002Fnews\u002Fh1-2024-trading-update",{"_createdAt":10972,"_id":10973,"_rev":8787,"_type":168,"_updatedAt":116,"body":10974,"categories":11158,"introText":11161,"mainImage":11162,"publishedAt":11165,"slug":11166,"tags":11168,"title":11171,"url":11172},"2024-07-02T15:15:01Z","08b91541-e5d0-47e6-8dc4-76dc129a0aa8",[10975,10983,10991,10998,11006,11014,11021,11033,11048,11055,11067,11074,11082,11090,11097,11105,11113,11120,11128,11139,11146],{"_key":10976,"_type":173,"children":10977,"markDefs":10982,"style":182},"beabe926ad8d",[10978],{"_key":10979,"_type":177,"marks":10980,"text":10981},"17eaba270635",[179],"Leading with Cutting-Edge Technology: Hunting's Superior Tubing and Casing Connections",[],{"_key":10984,"_type":173,"children":10985,"markDefs":10990,"style":182},"375215112e88",[10986],{"_key":10987,"_type":177,"marks":10988,"text":10989},"57ab4897994a0",[],"Hunting has established itself as a market leader through a history of delivering innovation and driving demand with leading-edge technology. Our high-performance tubing and casing connections are designed to excel in the most demanding applications, from extended-reach onshore shale to the most challenging deep-water offshore environments. This commitment to excellence ensures unrivaled service, quality, and supply chain flexibility.",[],{"_key":10992,"_type":173,"children":10993,"markDefs":10997,"style":182},"492c43b06629",[10994],{"_key":10995,"_type":177,"marks":10996,"text":180},"5081af84b44c",[],[],{"_key":10999,"_type":173,"children":11000,"markDefs":11005,"style":182},"f7d7f33981bd",[11001],{"_key":11002,"_type":177,"marks":11003,"text":11004},"53ac39a000820",[179],"Innovative Solutions for Enhanced Well Integrity and Efficiency: Hunting's Advanced Connection Technologies",[],{"_key":11007,"_type":173,"children":11008,"markDefs":11013,"style":182},"9a4cc64da1e6",[11009],{"_key":11010,"_type":177,"marks":11011,"text":11012},"3ee335c5f69a0",[],"Our connection technology product line: TEC-LOCK, WEDGE-LOCK, and SEAL-LOCK—has a well-established history of delivering performance and innovation to an ever-changing market. Each product family offers unique benefits tailored to specific operational needs, enhancing well integrity and ensuring operational efficiency.",[],{"_key":11015,"_type":173,"children":11016,"markDefs":11020,"style":182},"ce76ffa65cf7",[11017],{"_key":11018,"_type":177,"marks":11019,"text":180},"c971ecee4cfd0",[],[],{"_key":11022,"_type":173,"children":11023,"markDefs":11032,"style":182},"1262f41a7ce8",[11024,11028],{"_key":11025,"_type":177,"marks":11026,"text":11027},"09a1193b0f560",[179],"TEC-LOCK: ",{"_key":11029,"_type":177,"marks":11030,"text":11031},"8fa515754953",[],"Renowned for onshore semi-premium connection technology, we leverage innovative design to deliver unmatched performance as a cost-effective alternative to traditional premium connections.",[],{"_key":11034,"_type":173,"children":11035,"markDefs":11047,"style":182},"b904f701a609",[11036,11039,11043],{"_key":11037,"_type":177,"marks":11038,"text":1430},"6b17d43de784",[],{"_key":11040,"_type":177,"marks":11041,"text":11042},"015aa1a8d82c0",[179],"WEDGE-LOCK: ",{"_key":11044,"_type":177,"marks":11045,"text":11046},"9609bfc725a2",[],"The leader in cutting-edge connection technology, engineered to meet the most critical high-pressure and high-temperature well design requirements, delivering unmatched performance in extreme conditions.",[],{"_key":11049,"_type":173,"children":11050,"markDefs":11054,"style":182},"b2e24b90c366",[11051],{"_key":11052,"_type":177,"marks":11053,"text":180},"046ffe9439610",[],[],{"_key":11056,"_type":173,"children":11057,"markDefs":11066,"style":182},"eb1b719591a4",[11058,11062],{"_key":11059,"_type":177,"marks":11060,"text":11061},"e1368db39b05",[179],"SEAL-LOCK: ",{"_key":11063,"_type":177,"marks":11064,"text":11065},"8f2afa605854",[],"The cornerstone of Hunting’s premium connection technology offering, SEAL-LOCK products have been widely utilized for decades in the most extreme applications around the world and continue to set the bar with new advancements to address the industry’s latest requirements and challenges.",[],{"_key":11068,"_type":173,"children":11069,"markDefs":11073,"style":182},"aff1e5a1e6fd",[11070],{"_key":11071,"_type":177,"marks":11072,"text":180},"2eded9865e810",[],[],{"_key":11075,"_type":173,"children":11076,"markDefs":11081,"style":182},"790a9d34a4a5",[11077],{"_key":11078,"_type":177,"marks":11079,"text":11080},"b89c62092cbb",[179],"Strategic Alliances and Market Reach",[],{"_key":11083,"_type":173,"children":11084,"markDefs":11089,"style":182},"2de92267d8db",[11085],{"_key":11086,"_type":177,"marks":11087,"text":11088},"4629a4c52cb50",[],"Hunting's Connection Technology offering is uniquely positioned to provide exceptional flexibility in Oil Country Tubular Goods sourcing without compromising performance or quality. This advantage is bolstered through strategic alliances with key mills and distribution partners, amplifying our combined value proposition and enabling commercial flexibility tailored to client requirements. These partnerships also significantly enhance our market reach, ensuring our innovative solutions are available globally.",[],{"_key":11091,"_type":173,"children":11092,"markDefs":11096,"style":182},"fc66263146a8",[11093],{"_key":11094,"_type":177,"marks":11095,"text":180},"075006b8fd590",[],[],{"_key":11098,"_type":173,"children":11099,"markDefs":11104,"style":182},"97e3b0ee8073",[11100],{"_key":11101,"_type":177,"marks":11102,"text":11103},"f23e49cf8fbb0",[179],"Ensuring Excellence: Hunting's Robust Product Testing Protocol",[],{"_key":11106,"_type":173,"children":11107,"markDefs":11112,"style":182},"c94ad8876d56",[11108],{"_key":11109,"_type":177,"marks":11110,"text":11111},"8f7ee2670e7c0",[],"We pride ourselves on having the most extensive product testing program of any independent connection technology provider. Utilizing an advanced internal R&D test laboratory, we perform full-scale product validation and testing to the most modern and stringent industry standards for connection qualification. This commitment to thorough testing is crucial in an industry where many competitors offer unproven connection solutions. By ensuring our products meet the most rigorous standards, we demonstrate the performance, reliability, and quality that distinguish us from all competitors.",[],{"_key":11114,"_type":173,"children":11115,"markDefs":11119,"style":182},"8e452d21bf4f",[11116],{"_key":11117,"_type":177,"marks":11118,"text":180},"f9f8be2e59610",[],[],{"_key":11121,"_type":173,"children":11122,"markDefs":11127,"style":182},"ca5fe1cf6d42",[11123],{"_key":11124,"_type":177,"marks":11125,"text":11126},"e92b52197a020",[179],"Maximize Efficiency with Hunting's Cutting-Edge Connection Technology & OCTG Solutions",[],{"_key":11129,"_type":173,"children":11130,"markDefs":11135,"style":182},"80bd69a53c58",[11131],{"_key":11132,"_type":177,"marks":11133,"text":11134},"86db91b9c2e50",[],"Explore Hunting's Connection Technology & OCTG solutions to enhance your operations and efficiency. 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is a global engineering group that provides precision-engineered equipment and premium services, which add value for our customers. Established in 1874, it is a premium listed public company traded on the London Stock Exchange. The Company maintains a corporate office in Houston and is headquartered in London. As well as the United Kingdom, the Company has operations in China, Indonesia, Mexico, Netherlands, Norway, Saudi Arabia, Singapore, United Arab Emirates and the United States of America.",[],{"_key":11690,"_type":173,"children":11691,"markDefs":11695,"style":182},"39af0aed9af8",[11692],{"_key":11693,"_type":177,"marks":11694,"text":180},"62e9a447ed5e0",[],[],{"_key":11697,"_type":173,"children":11698,"markDefs":11703,"style":182},"363d012589f3",[11699],{"_key":11700,"_type":177,"marks":11701,"text":11702},"55ad9093349a0",[],"The Group reports in US dollars across five operating segments: Hunting Titan; North America; Subsea Technologies; Europe, Middle East and Africa (“EMEA”) and Asia Pacific.",[],{"_key":11705,"_type":173,"children":11706,"markDefs":11710,"style":182},"d933284a3d2f",[11707],{"_key":11708,"_type":177,"marks":11709,"text":180},"4e663a342b890",[],[],{"_key":11712,"_type":173,"children":11713,"markDefs":11717,"style":182},"a5889919282f",[11714],{"_key":11715,"_type":177,"marks":11716,"text":1309},"2734144057dc0",[],[],{"_key":11719,"_type":173,"children":11720,"markDefs":11724,"style":182},"c3a2a1d5df5f",[11721],{"_key":11722,"_type":177,"marks":11723,"text":180},"8035c38feae50",[],[],[11726,11728],{"_key":11727,"_ref":1713,"_type":141},"c78c871a66b5",{"_key":11729,"_ref":5404,"_type":141},"884b4f1e1ed1","Hunting secures record $145 million OCTG order from Kuwait Oil Company","2024-05-15T07:05:00.000Z",{"_type":9,"current":11733},"hunting-secures-record-usd145-million-octg-order-from-kuwait-oil-company","Major OCTG Order","\u002Fnews\u002Fhunting-secures-record-usd145-million-octg-order-from-kuwait-oil-company",{"_createdAt":11737,"_id":11738,"_rev":7602,"_system":11739,"_type":168,"_updatedAt":11742,"publishedAt":11743,"slug":11744,"title":11746,"url":11747},"2024-05-14T11:57:13Z","b1424a26-6e43-434e-9542-5a1bb309c5f5",{"base":11740},{"id":11738,"rev":11741},"WdOlecuovT9iFgUDGVd2pK","2025-08-06T08:24:19Z","2024-05-14T11:56:27.783Z",{"_type":9,"current":11745},"interview-with-alan-gill-innovations-in-well-intervention-technology","Interview with Alan Gill: Innovations in Well Intervention Technology","\u002Fnews\u002Finterview-with-alan-gill-innovations-in-well-intervention-technology",{"_createdAt":11749,"_id":11750,"_rev":11751,"_type":168,"_updatedAt":5612,"content":11752,"mainImage":11938,"publishedAt":11941,"slug":11942,"title":11944,"url":11945},"2024-05-10T21:09:28Z","b83023ef-8d08-4696-aae7-daed8aee3285","Sy3FFEkt4VKop7rT0EK1DP",[11753],{"_key":11754,"_type":193,"body":11755,"cta":11935,"introText":11936,"title":11937},"edaa234b5c0d",[11756,11764,11771,11783,11790,11802,11809,11821,11828,11840,11847,11858,11865,11876,11883,11894,11901,11912,11919,11927],{"_key":11757,"_type":173,"children":11758,"markDefs":11763,"style":182},"1f260640b3ee",[11759],{"_key":11760,"_type":177,"marks":11761,"text":11762},"11accc40965d0",[179],"Interviewee: Eoin Macdonald",[],{"_key":11765,"_type":173,"children":11766,"markDefs":11770,"style":182},"0ca11b4752c3",[11767],{"_key":11768,"_type":177,"marks":11769,"text":180},"37f4ac01d06f0",[],[],{"_key":11772,"_type":173,"children":11773,"markDefs":11782,"style":182},"196b575d3869",[11774,11778],{"_key":11775,"_type":177,"marks":11776,"text":11777},"f79447616b170",[179],"Interviewer:",{"_key":11779,"_type":177,"marks":11780,"text":11781},"0f1e4e2870b3",[]," So, Eoin, could you give us an overview of the coil tubing injector sub and how it came about?",[],{"_key":11784,"_type":173,"children":11785,"markDefs":11789,"style":182},"654b48183d7f",[11786],{"_key":11787,"_type":177,"marks":11788,"text":180},"d25ee9ec14260",[],[],{"_key":11791,"_type":173,"children":11792,"markDefs":11801,"style":182},"cbce3bf86e97",[11793,11797],{"_key":11794,"_type":177,"marks":11795,"text":11796},"872dff5ca5b10",[179],"Eoin Macdonald:",{"_key":11798,"_type":177,"marks":11799,"text":11800},"296828854b61",[]," Certainly. The coil tubing injector sub was born out of a need identified during operations with a major land operator in Italy a couple of years ago. They were grappling with coil tubing corrosion issues, resorting to manual methods like coating the coil with inhibitors as it went into the well. Recognizing the inefficiency and potential risks, we set out to devise a better solution.",[],{"_key":11803,"_type":173,"children":11804,"markDefs":11808,"style":182},"c9f96e8ff247",[11805],{"_key":11806,"_type":177,"marks":11807,"text":180},"f1ec6622dab60",[],[],{"_key":11810,"_type":173,"children":11811,"markDefs":11820,"style":182},"61d70833d3c2",[11812,11816],{"_key":11813,"_type":177,"marks":11814,"text":11815},"acc16f425f630",[179],"Interviewer: ",{"_key":11817,"_type":177,"marks":11818,"text":11819},"83c80245f5dd",[],"So, what sets this sub apart from existing methods?",[],{"_key":11822,"_type":173,"children":11823,"markDefs":11827,"style":182},"8f50f8b95108",[11824],{"_key":11825,"_type":177,"marks":11826,"text":180},"4b327c4bebde0",[],[],{"_key":11829,"_type":173,"children":11830,"markDefs":11839,"style":182},"fc0354ed228c",[11831,11835],{"_key":11832,"_type":177,"marks":11833,"text":11834},"21fb20007b770",[179],"Eoin Macdonald: ",{"_key":11836,"_type":177,"marks":11837,"text":11838},"e4170b393983",[],"Unlike previous approaches, our sub offers comprehensive coverage and protection for the coil. By integrating this technology, it not only applies the inhibitor but also wipes off excess fluid, preventing it from entering the wellbore. This 360-degree coverage ensures enhanced performance and longevity of the coil tubing.",[],{"_key":11841,"_type":173,"children":11842,"markDefs":11846,"style":182},"5d383b80dc47",[11843],{"_key":11844,"_type":177,"marks":11845,"text":180},"a192cdfe5dd70",[],[],{"_key":11848,"_type":173,"children":11849,"markDefs":11857,"style":182},"a8ae93a9e121",[11850,11853],{"_key":11851,"_type":177,"marks":11852,"text":11777},"ba86b16c8dc20",[179],{"_key":11854,"_type":177,"marks":11855,"text":11856},"dfbb09716505",[]," How does this sub contribute to cost efficiency and safety?",[],{"_key":11859,"_type":173,"children":11860,"markDefs":11864,"style":182},"13b6cedc5464",[11861],{"_key":11862,"_type":177,"marks":11863,"text":180},"afa452cf90b50",[],[],{"_key":11866,"_type":173,"children":11867,"markDefs":11875,"style":182},"2fbccacd9949",[11868,11871],{"_key":11869,"_type":177,"marks":11870,"text":11834},"866c31045e520",[179],{"_key":11872,"_type":177,"marks":11873,"text":11874},"ca467ae296f9",[],"One of the significant advantages lies in its potential cost savings. Previously, operators had to allocate manpower and gallons of inhibitor, leading to significant expenses. With our solution, not only is inhibitor usage reduced, but the elimination of manual intervention also enhances safety, minimizing risks associated with human error and exposure.",[],{"_key":11877,"_type":173,"children":11878,"markDefs":11882,"style":182},"5b2e6d276c34",[11879],{"_key":11880,"_type":177,"marks":11881,"text":180},"45993226a2680",[],[],{"_key":11884,"_type":173,"children":11885,"markDefs":11893,"style":182},"bca54dc10b32",[11886,11889],{"_key":11887,"_type":177,"marks":11888,"text":11815},"f8d3864c00580",[179],{"_key":11890,"_type":177,"marks":11891,"text":11892},"ca05586d22b8",[],"Is this technology entirely new to the industry?",[],{"_key":11895,"_type":173,"children":11896,"markDefs":11900,"style":182},"beae8dd0ecd1",[11897],{"_key":11898,"_type":177,"marks":11899,"text":180},"83cc3455d7900",[],[],{"_key":11902,"_type":173,"children":11903,"markDefs":11911,"style":182},"2141b016f0d4",[11904,11907],{"_key":11905,"_type":177,"marks":11906,"text":11834},"4226a71dce940",[179],{"_key":11908,"_type":177,"marks":11909,"text":11910},"d38d0c0fe215",[],"While the concept of coating coil tubing with inhibitors isn't new, our approach with the injector sub presents a fresh take on addressing the challenge. It fills a gap in the market by offering a more efficient and comprehensive solution, particularly in mitigating corrosion risks and optimizing operational efficiency.",[],{"_key":11913,"_type":173,"children":11914,"markDefs":11918,"style":182},"180f715ed63a",[11915],{"_key":11916,"_type":177,"marks":11917,"text":180},"769538c1ae380",[],[],{"_key":11920,"_type":173,"children":11921,"markDefs":11926,"style":182},"ce9a4e6dd6af",[11922],{"_key":11923,"_type":177,"marks":11924,"text":11925},"74ab797a12430",[179],"Conclusion:",[],{"_key":11928,"_type":173,"children":11929,"markDefs":11934,"style":182},"552d1d9a1249",[11930],{"_key":11931,"_type":177,"marks":11932,"text":11933},"df5c3a5830d70",[],"The coil tubing injector sub exemplifies how innovation doesn't always require complex, high-tech solutions. By addressing a fundamental challenge with a practical approach, it not only enhances operational efficiency but also underscores the importance of continual improvement in industry practices. As the oil and gas sector continues to evolve, such innovations pave the way for safer, more cost-effective, and sustainable operations.",[],{"_type":144,"showCTA":7},"In the oil and gas industry, innovation often arises from addressing practical challenges faced in day-to-day operations. This case study delves into the development of a novel solution for coil tubing maintenance, shedding light on how a simple yet effective idea can revolutionize industry practices.","Title: Innovating in Coil Tubing Maintenance: A Case Study",{"_type":146,"asset":11939},{"_ref":11940,"_type":141},"image-109d40a56053366919716d1fa8a8b36c0d5c1144-1200x627-png","2024-05-10T20:33:06.574Z",{"_type":9,"current":11943},"innovating-in-coil-tubing-maintenance-a-case-study","Innovating in Coil Tubing Maintenance: A Case Study","\u002Fnews\u002Finnovating-in-coil-tubing-maintenance-a-case-study",{"_createdAt":11947,"_id":11948,"_rev":11949,"_type":168,"_updatedAt":116,"body":11950,"categories":11991,"introText":11994,"mainImage":11995,"publishedAt":11998,"slug":11999,"title":12001,"url":12002},"2024-05-02T14:13:17Z","1a69d77b-b30a-4224-a642-d9a446cce4e4","Sy3FFEkt4VKop7rT0EK4KT",[11951,11959,11967,11975,11983],{"_key":11952,"_type":173,"children":11953,"markDefs":11958,"style":182},"f7a301a84489",[11954],{"_key":11955,"_type":177,"marks":11956,"text":11957},"9a3a59639f910",[],"Each location, enriched by its distinct culture and traditions, marked the occasion in a way that not only paid homage to our rich history but also embodied the shared spirit and values of our organization.",[],{"_key":11960,"_type":173,"children":11961,"markDefs":11966,"style":182},"b21b32e5b89c",[11962],{"_key":11963,"_type":177,"marks":11964,"text":11965},"2449c6ce54d50",[],"To celebrate our 150th anniversary in North America, we planned a variety of luncheons, ranging from cookouts and potlucks to catered meals. The celebrations were highlighted by activities and speeches that paid tribute to our company's long history, underscoring the importance of this milestone. This series of events provided a moment for our team to reflect on past successes while also rallying together with a renewed focus on future ambitions.",[],{"_key":11968,"_type":173,"children":11969,"markDefs":11974,"style":182},"71cd1c56f733",[11970],{"_key":11971,"_type":177,"marks":11972,"text":11973},"3e62b00ddd390",[],"In the UK, a special lunch brought together our team from Fordoun and Portlethen while London hosted an event at the National Portrait Gallery, a nod to the Hunting Art Prize that annually awarded artists for 35 years. Meanwhile, our facilities in Dubai and The Netherlands paid homage to our maritime heritage with traditional boat trips – one circling the Jumeirah Beach area and another venturing from the Dutch facility into Amsterdam and back.",[],{"_key":11976,"_type":173,"children":11977,"markDefs":11982,"style":182},"26a5d94e3fdf",[11978],{"_key":11979,"_type":177,"marks":11980,"text":11981},"e7cb308ef0570",[],"In Singapore, our celebration was particularly vibrant, as employees raised their glasses in a spirited \"Yam Seng\" toast, symbolizing wishes for ongoing prosperity in this timeless tradition. This lively atmosphere was complemented by interactive activities such as a Kahoot game delving into Hunting's illustrious past, as well as the engaging Malay game of Batu Seremban. Meanwhile, across the Asia Pacific region, festivities continued with a symbolic balloon release in Batam, while in Wuxi, employees came together to form the iconic figures \"1874\" and \"We are Hunting\" in a meticulously organized formation—a visual homage to our founding year and enduring corporate identity.",[],{"_key":11984,"_type":173,"children":11985,"markDefs":11990,"style":182},"945767588e81",[11986],{"_key":11987,"_type":177,"marks":11988,"text":11989},"dd3003422ae20",[],"These celebrations, showcasing cultural diversity and a shared spirit, highlight the solid foundations of the group. Looking ahead, these events not only allow us to reflect on our history but also act as a guide for the future, steering us toward sustained excellence and innovation. Here's to another 150 years of success, community, and notable achievements.",[],[11992],{"_key":11993,"_ref":5404,"_type":141},"168cc2fb1407","As we reflect on our remarkable 150-year celebration, it's an ideal time to embark on a global tour and shine a spotlight on how our facilities across the world have embraced this significant milestone.",{"_type":146,"asset":11996},{"_ref":11997,"_type":141},"image-18f2acf8f0ad1e19e9e8cc67cfc21e75c0d166cd-3543x2362-jpg","2024-05-02T14:00:25.594Z",{"_type":9,"current":12000},"a-global-tour-worldwide-150-year-celebrations","A Global Tour – Worldwide 150 Year Celebrations","\u002Fnews\u002Fa-global-tour-worldwide-150-year-celebrations",{"_createdAt":12004,"_id":12005,"_rev":11949,"_type":168,"_updatedAt":116,"categories":12006,"content":12009,"downloads":12235,"introText":12241,"publishedAt":12242,"slug":12243,"tags":12245,"title":12250,"url":12251},"2024-04-18T08:10:33Z","24314a1e-426e-47e9-850a-450bd366f6ac",[12007],{"_key":12008,"_ref":1713,"_type":141},"3a5bfdc6a9d9",[12010,12035,12064,12165,12185,12198,12209],{"_key":12011,"_type":7274,"cta":12012,"listItems":12013,"title":1339,"type":2555,"width":7291},"6b7dff10c13d",{"_type":144,"showCTA":7},[12014,12017,12020,12023,12026,12029,12032],{"_key":12015,"_type":7279,"title":12016},"b0d9fd224e8d","Positive start to the year, with EBITDA of c.$28.9 million during Q1 2024 (Q1 2023 – c.$22.4 million), marginally ahead of management’s expectations.",{"_key":12018,"_type":7279,"title":12019},"d067add8f17a","Sales order book remains healthy at c.$544.0 million (Q1 2023 – c.$492.9 million), with tender pipeline for new OCTG orders remaining buoyant.",{"_key":12021,"_type":7279,"title":12022},"22d4666435ee","OCTG and Subsea product groups reporting a good first quarter, ahead of management’s expectations, as offshore and international activity continues to be strong.",{"_key":12024,"_type":7279,"title":12025},"8174e7cda650","Advanced Manufacturing business also reporting a positive quarter, with a good mix of energy and non-oil and gas sales.",{"_key":12027,"_type":7279,"title":12028},"6f984c156a0d","Perforating Systems has reported a slower first quarter, as US onshore markets remain soft; however, the outlook for H2 remains more positive as international activity is projected to drive new drilling.",{"_key":12030,"_type":7279,"title":12031},"59f3c61f8906","Total cash and bank of c.$(33.6) million at quarter-end reflecting new orders, which are driving higher inventory and receivables.",{"_key":12033,"_type":7279,"title":12034},"2616629ab134","Full-year guidance remains unchanged with both EBITDA of c.$125-135 million and EBITDA margin of 12- 13% targeted. EBITDA to Free Cash Flow conversion of 50% still anticipated for the full year, driven by increased EBITDA and robust working capital management.",{"_key":12036,"_type":193,"body":12037,"cta":12062,"introText":12063},"2303fb0ae077",[12038,12046,12054],{"_key":12039,"_type":173,"children":12040,"markDefs":12045,"style":182},"91dccc1e0131",[12041],{"_key":12042,"_type":177,"marks":12043,"text":12044},"bf78ce471c7e0",[],"“The year has started positively for the Group, with Q1 2024 results marginally ahead of management’s expectations, and well ahead of the Q1 2023 result, which demonstrates the continued growth momentum of the Group. Our OCTG, Subsea and Advanced Manufacturing product groups are continuing to see strong momentum as offshore and international activity remains robust. While Perforating Systems has had a slow start to the year, H2 2024 is likely to see stronger activity as increased LNG exports in the US drive natural gas demand.",[],{"_key":12047,"_type":173,"children":12048,"markDefs":12053,"style":182},"bdd7f4cc2f8e",[12049],{"_key":12050,"_type":177,"marks":12051,"text":12052},"88b005ee65c60",[],"“It is particularly pleasing to see our Q1 2024 EBITDA result surpassing the Q4 2023 result, given the strong result delivered in the prior quarter, with Subsea being our standout performer this quarter.",[],{"_key":12055,"_type":173,"children":12056,"markDefs":12061,"style":182},"044258d6c533",[12057],{"_key":12058,"_type":177,"marks":12059,"text":12060},"bc72d50a9b400",[],"“2024 is likely to be a further year of growth for the industry driven by geopolitical and macro-economic factors. Therefore, management remains confident of delivering its current EBITDA guidance, given the broad-based strength of the global oil and gas sector.”",[],{"_type":144,"showCTA":7},"Commenting on Q1 2024 trading and the market outlook, Hunting’s Chief Executive, Jim Johnson said:",{"_key":12065,"_type":268,"body":12066,"introText":12115,"tables":12116,"title":10606},"03a8b2231e03",[12067,12075,12083,12091,12099,12107],{"_key":12068,"_type":173,"children":12069,"markDefs":12074,"style":182},"3bbe8c4bd26d",[12070],{"_key":12071,"_type":177,"marks":12072,"text":12073},"5eb1e07244880",[],"Driven by the current sales order book, coupled with some forward purchasing of raw materials associated with imminent projects, working capital has increased in the quarter. Management remains confident of delivering a reduction in inventory throughout the balance of the year, which will release cash and, coupled with the improved EBITDA, remains focused on delivering an EBITDA to Free Cash Flow conversion of c.50%. The final dividend recommended for 2023 of 5.0 cents per share is due for payment on 10 May 2024, following shareholder approval on 17 April 2024, which will absorb c.$7.9 million.",[],{"_key":12076,"_type":173,"children":12077,"markDefs":12082,"style":182},"f489a05d2118",[12078],{"_key":12079,"_type":177,"marks":12080,"text":12081},"b9b4e8a73e470",[],"The Group’s OCTG product lines have commenced the year strongly, with activity in North and South America and Asia Pacific supported by buoyant levels of offshore and international projects. Tender activity across the Middle East has remained very positive in the period, which supports the projected revenue growth in this product line in the short to medium term. OCTG accessories manufacturing has continued to deliver good results supported by strong activity in South America, specifically in Guyana and Brazil.",[],{"_key":12084,"_type":173,"children":12085,"markDefs":12090,"style":182},"9dee2620bc10",[12086],{"_key":12087,"_type":177,"marks":12088,"text":12089},"53f2f77fe5fe0",[],"Results for the Group’s Subsea product lines have been strong during Q1 2024, as orders for titanium and steel stress joints, hydraulic valves and couplings and flow access modules have increased, given the strong offshore drilling environment.",[],{"_key":12092,"_type":173,"children":12093,"markDefs":12098,"style":182},"7b34815d131f",[12094],{"_key":12095,"_type":177,"marks":12096,"text":12097},"6c8b9bf684fe0",[],"The Group’s Advanced Manufacturing product lines continue to report good growth as energy-related and non-oil and gas sales momentum continue to increase.",[],{"_key":12100,"_type":173,"children":12101,"markDefs":12106,"style":182},"5b64aae1c658",[12102],{"_key":12103,"_type":177,"marks":12104,"text":12105},"65aa82ea96d40",[],"Hunting’s Perforating Systems product lines continue to target increasing international sales as market activity in South America and the Middle East continue to improve. The onshore US market has been less resilient in the period due, in part, to the lower activity and soft pricing for natural gas. However, activity levels are projected to improve in the second half of the year as new LNG capacity comes on stream in the US, which will support higher exports.",[],{"_key":12108,"_type":173,"children":12109,"markDefs":12114,"style":182},"a32c07c0055c",[12110],{"_key":12111,"_type":177,"marks":12112,"text":12113},"d767318af92e0",[],"In summary, the majority of the Group’s product lines have reported a positive start to the year, leading to management retaining its full-year EBITDA guidance of $125-135 million.",[],"EBITDA in Q1 2024 was c.$28.9 million, which compares to c.$22.4 million in Q1 2023 and $28.2 million in Q4 2023. EBITDA margin remains in line with management’s expectations with full-year guidance remaining between 12-13%, as product mix, some higher product pricing and stronger facility utilisation continue to improve performance.",[12117],{"_key":12118,"_type":289,"headerAlignment":125,"layout":291,"table":12119,"type":289},"f44ef3f88c3a",{"rows":12120},[12121,12128,12134,12140,12147,12151,12158],{"_key":12122,"_type":296,"cells":12123},"d482c9d8-ae56-4bf4-82f6-f757fa41d954",[12124,12125,12126,12127],"$ million","Q1 2024","Q4 2023","Q1 2023",{"_key":12129,"_type":296,"cells":12130},"2e71c0e2-c995-48a4-bc71-db61694bc0a2",[2084,12131,12132,12133],"544.0","565.2","492.9",{"_key":12135,"_type":296,"cells":12136},"b51e59be-a1ee-4f98-ba8e-6cc67594f3c4",[307,12137,12138,12139],"244.9","228.1","211.5",{"_key":12141,"_type":296,"cells":12142},"f121e753-7d9b-4256-ae18-be4368d64d82",[12143,12144,12145,12146],"EBITDA","28.9","28.2","22.4",{"_key":12148,"_type":296,"cells":12149},"687bbfed-57ec-4095-b6de-10756c471428",[10588,326,326,12150],"11%",{"_key":12152,"_type":296,"cells":12153},"729999b1-3603-434e-9bf4-47b8af8801fa",[12154,12155,12156,12157],"Working Capital","469.6","415.9","456.5",{"_key":12159,"_type":296,"cells":12160},"7e1b42b9-ad80-44e8-a403-2897b38caad4",[12161,12162,12163,12164],"Total cash and bank","(33.6)","(0.8)","(59.8)",{"_key":12166,"_type":193,"body":12167,"cta":12184,"title":8127},"71a132cd6b9e",[12168,12176],{"_key":12169,"_type":173,"children":12170,"markDefs":12175,"style":182},"7859ac689d80",[12171],{"_key":12172,"_type":177,"marks":12173,"text":12174},"4067949934b40",[],"As previously announced, Jay Glick, Company Chair, will be retiring as a Director at the conclusion of the AGM with Stuart Brightman succeeding Mr Glick as Hunting PLC’s Company Chair.",[],{"_key":12177,"_type":173,"children":12178,"markDefs":12183,"style":182},"a8420bdf228d",[12179],{"_key":12180,"_type":177,"marks":12181,"text":12182},"1601dfcfecf80",[],"The Board thanks Jay for his services to the Company since 2015, chairing the Company from 2017 and overseeing the Group through the COVID-19 pandemic and subsequent recovery. Jay has overseen the rollout of the Hunting 2030 Strategy which was launched at the Company’s Capital Markets Day in 2023 and which continues to be executed by management.",[],{"_type":144,"showCTA":7},{"_key":12186,"_type":193,"body":12187,"cta":12196,"title":12197},"8c00f60237ec",[12188],{"_key":12189,"_type":173,"children":12190,"markDefs":12195,"style":182},"4c41735fb63b",[12191],{"_key":12192,"_type":177,"marks":12193,"text":12194},"2690cfc987c80",[],"Hunting PLC’s next Trading Statement will be announced on Monday 8 July 2024.",[],{"_type":144,"showCTA":7},"Date of H1 2024 Trading Statement",{"_key":12199,"_type":7274,"cta":12200,"introText":1126,"listItems":12201,"title":12208,"type":2555,"width":7291},"d62eaf624a43",{"_type":144,"showCTA":7},[12202,12204,12206],{"_key":12203,"_type":7279,"description":10913,"title":1134},"98888de21bc8",{"_key":12205,"_type":7279,"description":10916,"title":8934},"63d006f03f24",{"_key":12207,"_type":7279,"description":9826,"title":1219},"68606e508e2d","Get in touch",{"_key":12210,"_type":193,"body":12211,"cta":12233,"introText":12234,"title":10958},"cabdcbdc6b6e",[12212,12219,12226],{"_key":12213,"_type":173,"children":12214,"markDefs":12218,"style":182},"732080e36c17",[12215],{"_key":12216,"_type":177,"marks":12217,"text":11687},"9810c274cda20",[],[],{"_key":12220,"_type":173,"children":12221,"markDefs":12225,"style":182},"a664e359e77d",[12222],{"_key":12223,"_type":177,"marks":12224,"text":11702},"b0107203fac30",[],[],{"_key":12227,"_type":173,"children":12228,"markDefs":12232,"style":182},"e0910fa4b6f3",[12229],{"_key":12230,"_type":177,"marks":12231,"text":1309},"c4e4fefc99e60",[],[],{"_type":144,"showCTA":7},"About Hunting PLC",[12236],{"_key":12237,"_type":10023,"asset":12238,"title":12240},"23235f0241e8",{"_ref":12239,"_type":141},"file-c606e3f01a622164eec8da239c2f73904d9f32a2-pdf","Download trading update pdf","Hunting PLC (LSE:HTG), the global engineering group, issues the following Trading Update for Q1 2024, ahead of its Annual General Meeting that will take place today at 10:30a.m. BST in London.","2024-04-17T06:00:00.000Z",{"_type":9,"current":12244},"agm-and-q1-2024-trading-update",[12246,12248],{"_key":12247,"_ref":7180,"_type":141},"8cc62e007231",{"_key":12249,"_ref":10968,"_type":141},"73e2b8310052","AGM and Q1 2024 Trading Update","\u002Fnews\u002Fagm-and-q1-2024-trading-update",{"_createdAt":12253,"_id":12254,"_rev":7134,"_type":168,"_updatedAt":116,"body":12255,"categories":12592,"introText":12595,"mainImage":12596,"publishedAt":12599,"slug":12600,"title":12602,"url":12603},"2024-04-15T12:35:24Z","f3d9154b-dbf9-499d-babe-7a8d489b5d8f",[12256,12264,12272,12279,12287,12295,12303,12311,12319,12327,12334,12342,12350,12357,12365,12373,12381,12388,12396,12403,12411,12418,12426,12433,12441,12448,12456,12463,12471,12478,12486,12493,12501,12508,12515,12522,12529,12536,12543,12550,12557,12564,12571,12578,12585],{"_key":12257,"_type":173,"children":12258,"markDefs":12263,"style":182},"d5092d55e9c5",[12259],{"_key":12260,"_type":177,"marks":12261,"text":12262},"118bb71f2ac70",[],"Hunting PLC (LSE: HTG), the global engineering group, today proudly marks a historic milestone as we celebrate 150 years of innovation and technological development.",[],{"_key":12265,"_type":173,"children":12266,"markDefs":12271,"style":182},"b118f9d2c995",[12267],{"_key":12268,"_type":177,"marks":12269,"text":12270},"e17d298c4f800",[],"Throughout its extensive history, our Company has consistently demonstrated remarkable resilience and a steadfast commitment to adapting to evolving industrial and societal dynamics. The entrepreneurial ethos instilled by our founder, Charles Samuel Hunting, in 1874 remains deeply embedded within our organisational DNA. Today, we continuously innovate and adapt to the rapidly changing industry and technological landscapes, striving to unlock new opportunities and foster growth. This unwavering dedication enables us to deliver indispensable services to the global energy sectors and beyond, propelling Hunting forward into a future defined by innovation and excellence.",[],{"_key":12273,"_type":173,"children":12274,"markDefs":12278,"style":182},"90109430d3f8",[12275],{"_key":12276,"_type":177,"marks":12277,"text":180},"e3bf5fc391430",[],[],{"_key":12280,"_type":173,"children":12281,"markDefs":12286,"style":182},"3d54b4f7ec0e",[12282],{"_key":12283,"_type":177,"marks":12284,"text":12285},"e818e9f2a6850",[179],"Hunting’s historic origins",[],{"_key":12288,"_type":173,"children":12289,"markDefs":12294,"style":182},"6326342373bf",[12290],{"_key":12291,"_type":177,"marks":12292,"text":12293},"05db8b917b500",[],"Charles Samuel Hunting ventured into the oil industry during the 1890s, building upon the foundation of a prosperous ship-owning enterprise established by his father, Charles Hunting. In 1874, his father acquired two pre-owned sailing vessels tailored for dry bulk cargo. These acquisitions enabled the family to materialise their ambition of facilitating oil transportation to a growing global customer base as oil's importance to the world economy increased.",[],{"_key":12296,"_type":173,"children":12297,"markDefs":12302,"style":182},"6959d1fa3d5f",[12298],{"_key":12299,"_type":177,"marks":12300,"text":12301},"efe262cec65b0",[],"The First World War decimated the Hunting fleet; however, amidst the challenges, this adversity sparked an opportunity for diversification, driving Hunting toward resilience and expansion by diversifying the business into the then new and growing aviation sector servicing and manufacturing aircraft, and some years later launching an airline business, Hunting Clan, the first step on its way to becoming a precision engineering specialist. A decade later the Company re-entered the energy market and backed an E&P venture, prospecting for oil in Texas - the operational centre of Hunting's activities today.",[],{"_key":12304,"_type":173,"children":12305,"markDefs":12310,"style":182},"fc31f323d99e",[12306],{"_key":12307,"_type":177,"marks":12308,"text":12309},"62c8e87417e10",[],"Into the 1960s, oil had been struck in Texas, a world-class defence company had been established (whose precision engineering skills gave rise to the formation of the oil services company), an aerial survey and geophysical business with a global reach had been built, and substantial investments had been made in the Canadian oil sector. Petroleum retailing, lubricants, and specialised products were added to the portfolio, and increasingly, outside capital was brought into the business to fund expansion during the 1960s and 1970s.",[],{"_key":12312,"_type":173,"children":12313,"markDefs":12318,"style":182},"67338d5ce8c5",[12314],{"_key":12315,"_type":177,"marks":12316,"text":12317},"6624f1f36bd50",[],"Originally, the Hunting interests were privately owned and operated as three distinct quoted companies: Hunting Oilfield Services, Hunting Engineering, and Hunting Energy Services. However, in 1989, Clive Hunting led the merger of these entities into the unified organisation known today as Hunting PLC.",[],{"_key":12320,"_type":173,"children":12321,"markDefs":12326,"style":182},"33f7a2613c3b",[12322],{"_key":12323,"_type":177,"marks":12324,"text":12325},"7e2cdfc175e60",[],"In 1993, the Company acquired Interlock Technologies to extend the market presence of the SEAL-LOCK threaded connection product line into the global OCTG market. This technological asset remains a fundamental component of intellectual property within Hunting's current portfolio. Subsequently, in 1995, Hunting completed the acquisition of Petro Tube Corporation. This strategic move significantly enhanced the company's manufacturing capacities, positioning it for sustained growth and expansion.",[],{"_key":12328,"_type":173,"children":12329,"markDefs":12333,"style":182},"9829f7d5ea95",[12330],{"_key":12331,"_type":177,"marks":12332,"text":180},"a08fa8c65c620",[],[],{"_key":12335,"_type":173,"children":12336,"markDefs":12341,"style":182},"c48f636ac3f7",[12337],{"_key":12338,"_type":177,"marks":12339,"text":12340},"28586ed1192e0",[179],"2000s – Today",[],{"_key":12343,"_type":173,"children":12344,"markDefs":12349,"style":182},"8dacd01f799d",[12345],{"_key":12346,"_type":177,"marks":12347,"text":12348},"b7cf1cb68f2a0",[],"The Company has sought to consolidate its global footprint through organic investment and selective acquisition, establishing itself as a key provider of precision engineering services and products to blue-chip clients worldwide.",[],{"_key":12351,"_type":173,"children":12352,"markDefs":12356,"style":182},"ef799d4c7c7e",[12353],{"_key":12354,"_type":177,"marks":12355,"text":180},"71421e24bfa10",[],[],{"_key":12358,"_type":173,"children":12359,"markDefs":12364,"style":182},"634803dcdb44",[12360],{"_key":12361,"_type":177,"marks":12362,"text":12363},"430edda1b36c0",[],"In 2009, Hunting's strategic manoeuvre of acquiring National Coupling Company Inc. solidified its presence in the subsea sector. The acquisition was pivotal in the Company's portfolio diversification and market expansion efforts. The decision perfectly aligned with Hunting's overarching objectives: to establish market share leadership, utilise proprietary technology, expand its global footprint, and capitalise on synergies within our existing product lines.",[],{"_key":12366,"_type":173,"children":12367,"markDefs":12372,"style":182},"dfa09841b8e1",[12368],{"_key":12369,"_type":177,"marks":12370,"text":12371},"9725a39f2adf0",[],"Acquiring Texan-based electronics manufacturer Innova-Extel in 2010 paved the way for our Advanced Manufacturing product Group. Subsequent strategic acquisitions including Dearborn, Specialty Supply, and WL Doffing have broadened our product range, serving diverse clients in need of precision manufacturing solutions.",[],{"_key":12374,"_type":173,"children":12375,"markDefs":12380,"style":182},"43cf644d29b2",[12376],{"_key":12377,"_type":177,"marks":12378,"text":12379},"36e4b08fed220",[],"The acquisition of the Titan Group in 2011 marked the largest in the Company's history. It substantially broadened the spectrum and efficacy of products in the wellbore, ranging from downhole instrumentation to perforating systems, enabling global access to complex and unconventional reserves. Hunting Titan has cultivated a comprehensive product portfolio underpinned by robust intellectual property, positioning itself as a components and systems technology frontrunner.",[],{"_key":12382,"_type":173,"children":12383,"markDefs":12387,"style":182},"e0296e61fb68",[12384],{"_key":12385,"_type":177,"marks":12386,"text":180},"b7f891eac8b40",[],[],{"_key":12389,"_type":173,"children":12390,"markDefs":12395,"style":182},"618e879d5167",[12391],{"_key":12392,"_type":177,"marks":12393,"text":12394},"30092dc1c09c0",[],"In 2019, Hunting enhanced its subsea operations through the acquisition of RTI Energy Systems. This acquisition broadened the company's product offerings in the deepwater offshore market and aligned perfectly with its objective of investing in differentiated technologies to enhance its value proposition for the offshore oil and gas industry. By integrating RTI Energy Systems' expertise and technologies into its Subsea product line, Hunting solidified its position as a premier provider of solutions for the offshore oil and gas industry.",[],{"_key":12397,"_type":173,"children":12398,"markDefs":12402,"style":182},"c7008a16a1ea",[12399],{"_key":12400,"_type":177,"marks":12401,"text":180},"4dd6bb7454240",[],[],{"_key":12404,"_type":173,"children":12405,"markDefs":12410,"style":182},"4a800a0fad71",[12406],{"_key":12407,"_type":177,"marks":12408,"text":12409},"47bccbabadc20",[],"In 2020, Hunting acquired Enpro Subsea, a leading subsea production technology company, enabling it to enter a new market segment and meet the growing demand for deepwater projects globally. The addition of Enpro's cutting-edge production technology further strengthens Hunting's position as an innovative and reliable partner for clients operating in challenging offshore environments.",[],{"_key":12412,"_type":173,"children":12413,"markDefs":12417,"style":182},"162561c93caa",[12414],{"_key":12415,"_type":177,"marks":12416,"text":180},"b5473ab4c71e0",[],[],{"_key":12419,"_type":173,"children":12420,"markDefs":12425,"style":182},"a60b0e561d2e",[12421],{"_key":12422,"_type":177,"marks":12423,"text":12424},"320de4c4ee210",[],"Hunting's investment in Cumberland Additive Holding (CAH) in 2021 strategically aligns with its goal of further investing in the future by embracing cutting-edge manufacturing technologies. Cumberland Additive specialises in producing high-quality, intricate 3D printed metal and plastic components for industries such as aerospace, defence, space, and oil & gas. Hunting’s investment in CAH is a key part of our strategy to access new manufacturing technologies our customers are adopting. It also provides new market and customer opportunities in sectors complementary to our core competencies of precision engineering and strongly quality-assured products and procedures.",[],{"_key":12427,"_type":173,"children":12428,"markDefs":12432,"style":182},"5ca899ef3a2e",[12429],{"_key":12430,"_type":177,"marks":12431,"text":180},"dfd0e49254210",[],[],{"_key":12434,"_type":173,"children":12435,"markDefs":12440,"style":182},"6977c4e54ae1",[12436],{"_key":12437,"_type":177,"marks":12438,"text":12439},"6289cd121fdb0",[179],"Hunting 2030: a strategy for growth",[],{"_key":12442,"_type":173,"children":12443,"markDefs":12447,"style":182},"7ea32bd569bd",[12444],{"_key":12445,"_type":177,"marks":12446,"text":180},"687aed8c71c60",[],[],{"_key":12449,"_type":173,"children":12450,"markDefs":12455,"style":182},"0a316776efe5",[12451],{"_key":12452,"_type":177,"marks":12453,"text":12454},"1b75950e2bbb0",[],"In 2023, Hunting PLC unveiled its ambitious Hunting 2030 Strategy, aimed at driving robust growth and enhanced shareholder returns through the decade's end and beyond. This strategic roadmap, rooted in innovation and market adaptability, seeks to maintain relevance in today's dynamic markets while positioning the Company for success in the future. Leveraging data analytics, artificial intelligence, and emerging technologies, Hunting aims to optimise operations and unlock new growth opportunities while prioritising sustainability and environmental stewardship. Hunting is poised to navigate market complexities and drive sustainable growth well into the future through its commitment to innovation, resilience, and long-term value creation.",[],{"_key":12457,"_type":173,"children":12458,"markDefs":12462,"style":182},"74071edf2621",[12459],{"_key":12460,"_type":177,"marks":12461,"text":180},"b61d0ec1b77c0",[],[],{"_key":12464,"_type":173,"children":12465,"markDefs":12470,"style":182},"95f8d99bdc6a",[12466],{"_key":12467,"_type":177,"marks":12468,"text":12469},"edfa1e979a970",[],"Hunting PLC Chief Executive Jim Johnson, commenting on the 150th year, said -",[],{"_key":12472,"_type":173,"children":12473,"markDefs":12477,"style":182},"b92a0a2c4827",[12474],{"_key":12475,"_type":177,"marks":12476,"text":180},"33571b2700c30",[],[],{"_key":12479,"_type":173,"children":12480,"markDefs":12485,"style":182},"08d17ea61fd9",[12481],{"_key":12482,"_type":177,"marks":12483,"text":12484},"f21bff2e51f40",[216],"“As I reflect on our journey over my 35 years at Hunting, from the strategic acquisitions to the dynamic changes we've embraced, I am filled with pride for the Company’s enduring legacy. Today, Hunting stands as a definitive market leader, manufacturing cutting-edge technologies and products deployed both in the depths of our oceans and beyond the confines of Earth's atmosphere, reaching into the vast expanse of space. The Group has successfully evolved through the many changes witnessed over the last century and a half, adapting its business and strategy to capitalise on the market opportunities that require our unique service offering.",[],{"_key":12487,"_type":173,"children":12488,"markDefs":12492,"style":182},"9219dbf6d258",[12489],{"_key":12490,"_type":177,"marks":12491,"text":180},"a01abac65a2d0",[],[],{"_key":12494,"_type":173,"children":12495,"markDefs":12500,"style":182},"8e6802e2bc12",[12496],{"_key":12497,"_type":177,"marks":12498,"text":12499},"9054dbb240630",[216],"“Looking ahead, I eagerly anticipate many more years of innovation, growth, and success. Together, we'll continue to navigate the ever-evolving energy sector and deliver long-term value to our shareholders, driven by our unwavering commitment to excellence and fuelled by the entrepreneurialism that has defined the Group's culture since 1874.\"",[],{"_key":12502,"_type":173,"children":12503,"markDefs":12507,"style":182},"27629cb3289f",[12504],{"_key":12505,"_type":177,"marks":12506,"text":1134},"41dac99f60b30",[179],[],{"_key":12509,"_type":173,"children":12510,"markDefs":12514,"style":182},"1b268aa1d978",[12511],{"_key":12512,"_type":177,"marks":12513,"text":180},"1e182ae2ec980",[],[],{"_key":12516,"_type":173,"children":12517,"markDefs":12521,"style":182},"782c607ba1fb",[12518],{"_key":12519,"_type":177,"marks":12520,"text":1142},"3b99715563320",[],[],{"_key":12523,"_type":173,"children":12524,"markDefs":12528,"style":182},"37f6976fa56f",[12525],{"_key":12526,"_type":177,"marks":12527,"text":1150},"4496cece871e0",[],[],{"_key":12530,"_type":173,"children":12531,"markDefs":12535,"style":182},"6ccc79580fab",[12532],{"_key":12533,"_type":177,"marks":12534,"text":1165},"9388426aa68c0",[179],[],{"_key":12537,"_type":173,"children":12538,"markDefs":12542,"style":182},"7d5d91d42bd0",[12539],{"_key":12540,"_type":177,"marks":12541,"text":180},"4479c51a769f0",[],[],{"_key":12544,"_type":173,"children":12545,"markDefs":12549,"style":182},"94c38a7dd0a3",[12546],{"_key":12547,"_type":177,"marks":12548,"text":8934},"3a16b426e8c80",[179],[],{"_key":12551,"_type":173,"children":12552,"markDefs":12556,"style":182},"6930895574a5",[12553],{"_key":12554,"_type":177,"marks":12555,"text":8942},"3e2e7c9e83160",[],[],{"_key":12558,"_type":173,"children":12559,"markDefs":12563,"style":182},"cede40888e91",[12560],{"_key":12561,"_type":177,"marks":12562,"text":8950},"c7439d164a230",[],[],{"_key":12565,"_type":173,"children":12566,"markDefs":12570,"style":182},"27f3cedd7453",[12567],{"_key":12568,"_type":177,"marks":12569,"text":9876},"8a962e5b3c000",[],[],{"_key":12572,"_type":173,"children":12573,"markDefs":12577,"style":182},"77b835639c18",[12574],{"_key":12575,"_type":177,"marks":12576,"text":8958},"b336316dcb250",[179],[],{"_key":12579,"_type":173,"children":12580,"markDefs":12584,"style":182},"d2282148bc1a",[12581],{"_key":12582,"_type":177,"marks":12583,"text":180},"67eb89d1a0a20",[],[],{"_key":12586,"_type":173,"children":12587,"markDefs":12591,"style":182},"daa85856254e",[12588],{"_key":12589,"_type":177,"marks":12590,"text":180},"dff2d9131cb30",[],[],[12593],{"_key":12594,"_ref":1713,"_type":141},"85bb170e79fe","Hunting Reaches Key Milestone That Reflects Deep Heritage and Culture of Continuous Innovation ",{"_type":146,"asset":12597},{"_ref":12598,"_type":141},"image-d8fc74d30c858fba519c50d8972f0f3603f6d7bf-2560x1760-jpg","2024-04-15T12:32:38.682Z",{"_type":9,"current":12601},"celebrating-150-years-of-excellence","Celebrating 150 Years of Excellence","\u002Fnews\u002Fcelebrating-150-years-of-excellence",{"_createdAt":12605,"_id":12606,"_rev":12607,"_type":168,"_updatedAt":116,"body":12608,"categories":12728,"introText":12731,"mainImage":12732,"publishedAt":12741,"slug":12742,"tags":12744,"title":12747,"url":12748},"2024-04-02T10:01:27Z","0d31ca96-74d9-4b59-9bd6-bd05d5cf0dc9","DBMO57ZIr7O8zFikjHd5A8",[12609,12617,12625,12633,12641,12649,12657,12665,12673,12681,12689,12697,12705,12713,12721],{"_key":12610,"_type":173,"children":12611,"markDefs":12616,"style":182},"0af69a1a2c61",[12612],{"_key":12613,"_type":177,"marks":12614,"text":12615},"c23e2987ae5e0",[179],"Tell us a little bit about yourself and your role at Hunting?",[],{"_key":12618,"_type":173,"children":12619,"markDefs":12624,"style":182},"e0c37e5d801b",[12620],{"_key":12621,"_type":177,"marks":12622,"text":12623},"0b0fd2bf938f0",[],"I started in the Electronic Oil and Gas manufacturing industry in 1997 with same company until Hunting acquisition in 2010. Promoted to corporate role starting in 2012 overseeing all group P&Ls within North America which now includes Canada.",[],{"_key":12626,"_type":173,"children":12627,"markDefs":12632,"style":182},"95d056b24bc4",[12628],{"_key":12629,"_type":177,"marks":12630,"text":12631},"50170570ab450",[179],"Tell us about the Advanced Manufacturing Group?",[],{"_key":12634,"_type":173,"children":12635,"markDefs":12640,"style":182},"6a2215f45664",[12636],{"_key":12637,"_type":177,"marks":12638,"text":12639},"5899d905dd5f0",[],"Dearborn is a leading provider of Oil and Gas (O&G), Aviation, Power Generation, Commercial Space, Medical, Defense and Nuclear products with our precision machining of exotic alloys that are complex and been in business since the 1960s. Hunting Electronics is a high pressure\u002Fhigh temperature electronic manufacturer for the O&G market. We manufacture thousands of assemblies for O&G clients, and now have further diversified into Medical and Defense markets to provide the same robust quality and workmanship since the 1980s. ",[],{"_key":12642,"_type":173,"children":12643,"markDefs":12648,"style":182},"024e1efafb10",[12644],{"_key":12645,"_type":177,"marks":12646,"text":12647},"19ad53cda5620",[179],"What makes what we offer within the Advanced Manufacturing Group unique?",[],{"_key":12650,"_type":173,"children":12651,"markDefs":12656,"style":182},"900bd7275d31",[12652],{"_key":12653,"_type":177,"marks":12654,"text":12655},"f3fc980edc400",[],"What makes us most unique at both locations is that we have a limited competitive landscape. Both companies were built with the knowledge of producing products that were state of the art and best in class. We did not want to settle into a commodity-based business, rather we built our product lines to premium standards. We partner with our clients to design and develop best in class products.",[],{"_key":12658,"_type":173,"children":12659,"markDefs":12664,"style":182},"4afd3cb6e12e",[12660],{"_key":12661,"_type":177,"marks":12662,"text":12663},"2546e85a69170",[179],"Why does the Advanced Manufacturing Group play a critical role in the Hunting 2030 strategy?",[],{"_key":12666,"_type":173,"children":12667,"markDefs":12672,"style":182},"649ed3646455",[12668],{"_key":12669,"_type":177,"marks":12670,"text":12671},"56578cfd091c0",[],"What sets us apart from the rest of our businesses within Hunting is our diversification efforts. We have focused on keeping our Oil and Gas clients intact while growing the business in other areas. These areas include Aviation, Power Generation, Defense, Commercial Space, Medical and Nuclear.",[],{"_key":12674,"_type":173,"children":12675,"markDefs":12680,"style":182},"cf670374d163",[12676],{"_key":12677,"_type":177,"marks":12678,"text":12679},"d208efca10f20",[179],"What are the biggest challenges facing the Group today?",[],{"_key":12682,"_type":173,"children":12683,"markDefs":12688,"style":182},"d4ea13311237",[12684],{"_key":12685,"_type":177,"marks":12686,"text":12687},"0e709341ca530",[],"Supply chain shortages of electronic components globally has remained a challenge for our Electronics business in the past several years. The COVID-19 pandemic, increased demand for electronics, and supply chain disruptions have all contributed to the shortages. Additionally, there are now fewer component manufacturers due to either consolidation with others or closures without warning. This has resulted in raw material component shortages that often delay production. We also have challenges with our outside services, and we have taken that challenge head on to perform many of these services in our own shops where applicable.",[],{"_key":12690,"_type":173,"children":12691,"markDefs":12696,"style":182},"a7ea2d812bcc",[12692],{"_key":12693,"_type":177,"marks":12694,"text":12695},"07b11f69a52b0",[179],"With the technical skills required in advanced manufacturing, how does Hunting attract, develop, and retain talent within the Group?",[],{"_key":12698,"_type":173,"children":12699,"markDefs":12704,"style":182},"e3b770a115a3",[12700],{"_key":12701,"_type":177,"marks":12702,"text":12703},"371efe064d660",[],"One of the best things about our Group is our people. Our precision engineers and machinists are the best in the industry. We have low turnover rates as many of our employees have ten plus years or more of tenure. It takes us about 9-12 months for us to fully train our employees and we understand that is a priority for our success. Our best-in-class benefits are also an attractive tool for us to retain our talented work group.\n",[],{"_key":12706,"_type":173,"children":12707,"markDefs":12712,"style":182},"017453e2cc9b",[12708],{"_key":12709,"_type":177,"marks":12710,"text":12711},"efd3ac3aa3bb0",[179],"What are the strategic plans for 2024?",[],{"_key":12714,"_type":173,"children":12715,"markDefs":12720,"style":182},"7542f307ce87",[12716],{"_key":12717,"_type":177,"marks":12718,"text":12719},"ae6e3fc8d08d0",[],"Simple. Continue to diversify and provide our existing clients with top quality products and customer service. We have a strong initiative to continue to add to the global group bottom line through organic growth and acquisitions that make good business sense.",[],{"_key":12722,"_type":173,"children":12723,"markDefs":12727,"style":182},"449e3bb392b1",[12724],{"_key":12725,"_type":177,"marks":12726,"text":180},"4be6831402cc",[],[],[12729],{"_key":12730,"_ref":10429,"_type":141},"d4a5b49c9691","We recently sat down with Scott George, Managing Director - North America, to gain insights on the unique offerings of advanced manufacturing and why the group is critical to the Hunting 2030 Strategy.",{"_type":146,"alt":12733,"asset":12734,"crop":12736,"hotspot":12738},"Headshot of Scott George",{"_ref":12735,"_type":141},"image-2ad72d80148eadd7c6d0bf983e9e084c36599739-2560x2560-jpg",{"_type":5643,"bottom":12737,"left":5644,"right":5644,"top":5644},0.3651960784313725,{"_type":5646,"height":12739,"width":955,"x":5649,"y":12740},0.5882352941176473,0.29411764705882365,"2024-04-02T09:34:58.767Z",{"_type":9,"current":12743},"advanced-manufacturing-success-stories-with-scott-george",[12745],{"_key":12746,"_ref":10447,"_type":141},"a55eff39f56c","Advanced Manufacturing Success Stories with Scott George ","\u002Fnews\u002Fadvanced-manufacturing-success-stories-with-scott-george",{"_createdAt":12750,"_id":12751,"_rev":12752,"_type":168,"_updatedAt":116,"categories":12753,"content":12756,"introText":12939,"publishedAt":12940,"slug":12941,"title":12943,"url":12944},"2024-03-27T14:12:02Z","f991a3bb-d09a-477b-814c-0838141abc45","pWgyghzhJBYjhJ3z5NcBgv",[12754],{"_key":12755,"_ref":10429,"_type":141},"895b0fcded4d",[12757,12779],{"_key":12758,"_type":124,"aligned":125,"body":12759,"colour":126,"cta":12768,"image":12769,"type":152},"df761d917230",[12760],{"_key":12761,"_type":173,"children":12762,"markDefs":12767,"style":182},"6204d0bab7ce",[12763],{"_key":12764,"_type":177,"marks":12765,"text":12766},"eccac55be223",[],"Starting off her professional journey as a general administrator, Faten now leads shared services at the facility in Saudi Arabia. She is responsible for ensuring the provision of support in Human Resources, IT, and Government Relations.",[],{"_type":144,"showCTA":7},{"_type":146,"asset":12770,"crop":12772,"hotspot":12775},{"_ref":12771,"_type":141},"image-9348fda5c25464133384aa066374dba48ca40e48-932x1656-jpg",{"_type":5643,"bottom":12773,"left":5644,"right":5644,"top":12774},0.16558928571428577,0.0903214285714285,{"_type":5646,"height":12776,"width":12777,"x":5649,"y":12778},0.7440892857142858,0.9285714285714285,0.4623660714285714,{"_key":12780,"_type":193,"body":12781,"cta":12937,"title":12938},"7d27ead1c9dc",[12782,12790,12798,12805,12813,12821,12828,12836,12844,12851,12859,12867,12875,12882,12890,12898,12905,12913,12921,12929],{"_key":12783,"_type":173,"children":12784,"markDefs":12789,"style":182},"23213d360d8e",[12785],{"_key":12786,"_type":177,"marks":12787,"text":12788},"4414345bbea9",[179],"Tell us about yourself",[],{"_key":12791,"_type":173,"children":12792,"markDefs":12797,"style":182},"33ce0366e2f4",[12793],{"_key":12794,"_type":177,"marks":12795,"text":12796},"0f00295739cf",[],"I am Faten Alnathiri and a proud mother of three children. I hold a bachelor degree of Information Technology from the Open University, and a master degree of Science from the business school at King’s College. I started working at Hunting in 2018 as a general administrator, then transitioned into internal sales before specialising in HR. Most of my time I’m either working in the office or taking care of my children. In spare time I like to watch movies, read books, cook, practice Yoga, meditation and do some gardening.",[],{"_key":12799,"_type":173,"children":12800,"markDefs":12804,"style":182},"4367c52cb309",[12801],{"_key":12802,"_type":177,"marks":12803,"text":180},"fbd07259d1ae",[],[],{"_key":12806,"_type":173,"children":12807,"markDefs":12812,"style":182},"c0140cbecdc2",[12808],{"_key":12809,"_type":177,"marks":12810,"text":12811},"8806509eceeb",[179],"Tell us about your role",[],{"_key":12814,"_type":173,"children":12815,"markDefs":12820,"style":182},"971eb4504c97",[12816],{"_key":12817,"_type":177,"marks":12818,"text":12819},"9dc37440a7e8",[],"My current role is Shared Services Leader where I am responsible for managing Human Resources, IT, and Government Relations. A usual day involves me overseeing employee-related matters, offering support and ensuring their work environment is optimal, in addition to obtaining licenses and permits from government offices. What I really like the most about my role, is the diversity, each day is different.",[],{"_key":12822,"_type":173,"children":12823,"markDefs":12827,"style":182},"135d86fa36cd",[12824],{"_key":12825,"_type":177,"marks":12826,"text":180},"ed2313ca57ff",[],[],{"_key":12829,"_type":173,"children":12830,"markDefs":12835,"style":182},"15d96a7e381e",[12831],{"_key":12832,"_type":177,"marks":12833,"text":12834},"23831ba970a2",[179],"What does \"INCLUSION\" mean to you?",[],{"_key":12837,"_type":173,"children":12838,"markDefs":12843,"style":182},"87c80f0cc972",[12839],{"_key":12840,"_type":177,"marks":12841,"text":12842},"8189b98135a2",[],"For me, it means to be included, engaged and to have value within the community. Moreover, inclusion is to have the right for equal opportunities.",[],{"_key":12845,"_type":173,"children":12846,"markDefs":12850,"style":182},"badf915eed83",[12847],{"_key":12848,"_type":177,"marks":12849,"text":180},"00603edc04c8",[],[],{"_key":12852,"_type":173,"children":12853,"markDefs":12858,"style":182},"12a09c2802a9",[12854],{"_key":12855,"_type":177,"marks":12856,"text":12857},"2662897aa85c",[179],"How does HUNTING make you feel included??",[],{"_key":12860,"_type":173,"children":12861,"markDefs":12866,"style":182},"0e36bc66e554",[12862],{"_key":12863,"_type":177,"marks":12864,"text":12865},"287ac06e94c3",[],"I always say that a significant part of the organisation’s reputation and success, is closely related to the way an organisation values and prioritizes its employees. Without a doubt, Hunting is one of the leading companies that puts value on its employees and consider them one of the most important sources of capital.",[],{"_key":12868,"_type":173,"children":12869,"markDefs":12874,"style":182},"9db7b7fe323b",[12870],{"_key":12871,"_type":177,"marks":12872,"text":12873},"c797945a0bf0",[],"Hunting is great environment that embraces their employees. I can easily think of many opportunities when I felt so lucky to work in such an entity that is fostering a feeling of belonging and equity for everyone. Hunting is a supportive organization that allow employees to voice their opinions and concerns making them feel heard and valued, leading to higher morale, engagement and productivity.",[],{"_key":12876,"_type":173,"children":12877,"markDefs":12881,"style":182},"40d602ae961a",[12878],{"_key":12879,"_type":177,"marks":12880,"text":180},"b5740ddb8e3e",[],[],{"_key":12883,"_type":173,"children":12884,"markDefs":12889,"style":182},"e1c66411161d",[12885],{"_key":12886,"_type":177,"marks":12887,"text":12888},"a019d9f40de2",[179],"Why do you think Inclusion is important?",[],{"_key":12891,"_type":173,"children":12892,"markDefs":12897,"style":182},"01b24bd46716",[12893],{"_key":12894,"_type":177,"marks":12895,"text":12896},"21ab78a687e3",[],"It is important because it gives a sense of belonging, respect and value within the workplace. It ensures that all employees, regardless of their background feel valued and have equal opportunities for growth and success. When employees feel included, and participating, they are more engaged, productive, and motivated, contributing to a positive and inclusive organizational culture.",[],{"_key":12899,"_type":173,"children":12900,"markDefs":12904,"style":182},"c981036a77ec",[12901],{"_key":12902,"_type":177,"marks":12903,"text":180},"ec3e3153d4bf",[],[],{"_key":12906,"_type":173,"children":12907,"markDefs":12912,"style":182},"25d2ed72c294",[12908],{"_key":12909,"_type":177,"marks":12910,"text":12911},"4e3b3b04ab9b",[179],"What is your experience of working at HUNTING as a woman?",[],{"_key":12914,"_type":173,"children":12915,"markDefs":12920,"style":182},"ff7ee86d5f0c",[12916],{"_key":12917,"_type":177,"marks":12918,"text":12919},"fa4a7cb3078b",[],"My experience of working at Hunting becomes very clear by looking at the rapid development of my career at the company, which proves nothing but how much Hunting is committed to develop its employees and to support their career path.",[],{"_key":12922,"_type":173,"children":12923,"markDefs":12928,"style":182},"071fc117e9e8",[12924],{"_key":12925,"_type":177,"marks":12926,"text":12927},"ac53f04e6bbd",[],"When it comes to my experience especially as a woman, I would not find a better place to work in that imposes very strict anti- discrimination policies, allow flexible working options for women who might have caregiving responsibilities, and provide equal career development opportunities.",[],{"_key":12930,"_type":173,"children":12931,"markDefs":12936,"style":182},"b5df5774fd15",[12932],{"_key":12933,"_type":177,"marks":12934,"text":12935},"bc5429824d8c",[],"Hunting has supported and encouraged me as a woman to take on leadership role and engaged me in the decision-making process. I have so much gratitude for Hunting and I am very thankful for them to accept me to be part of their family.",[],{"_type":144,"showCTA":7},"Interview","As we continue to celebrate the significant roles of women at Hunting beyond International Women's Day, today we would like to spotlight Faten Alnathiri","2024-03-27T13:06:34.039Z",{"_type":9,"current":12942},"celebrating-the-women-of-hunting-faten-alnathiri","Celebrating The Women of Hunting - Faten Alnathiri","\u002Fnews\u002Fcelebrating-the-women-of-hunting-faten-alnathiri",{"_createdAt":12946,"_id":12947,"_rev":12948,"_type":168,"_updatedAt":12949,"content":12950,"publishedAt":13054,"slug":13055,"title":13057,"url":13058},"2024-03-25T17:19:22Z","245f5617-bde1-4d9b-b36c-d551633fcc72","pWgyghzhJBYjhJ3z5NZNnj","2024-03-26T14:48:47Z",[12951,12956],{"_key":12952,"_type":6777,"cta":12953,"title":12954,"video":12955},"688c42d62b95",{"_type":144,"showCTA":7},"SPE ICOTA 2024: Hunting Energy Services Well Intervention","https:\u002F\u002Fyoutu.be\u002Fqvq1LuELRjo",{"_key":12957,"_type":193,"body":12958,"cta":13053,"title":12954},"3f3ea6b85336",[12959,12967,12974,12993,13000,13008,13015,13023,13030,13038,13045],{"_key":12960,"_type":173,"children":12961,"markDefs":12966,"style":182},"e7cb2cdd71ba",[12962],{"_key":12963,"_type":177,"marks":12964,"text":12965},"b75395097fe90",[],"Hunting, a leading player in the field, epitomizes adaptability by continuously staying at the forefront of industry trends and offering solutions to its discerning clientele. The Well Intervention Division is proud to present its extensive equipment portfolio and underscore its readiness to navigate the ever-evolving industry landscape.",[],{"_key":12968,"_type":173,"children":12969,"markDefs":12973,"style":182},"a67927c2b099",[12970],{"_key":12971,"_type":177,"marks":12972,"text":180},"03b42ad6525f0",[],[],{"_key":12975,"_type":173,"children":12976,"markDefs":12990,"style":182},"fa0bc806618a",[12977,12981,12986],{"_key":12978,"_type":177,"marks":12979,"text":12980},"e7da349a43cc0",[],"The Business Development Manager for Well Intervention in the United States, Clark Bain, underscores Hunting's commitment to excellence. With a robust 16-year tenure in the oil and gas sector, including 14 years with Hunting, Clark has been instrumental in providing customers with bespoke solutions tailored to their Pressure Control Equipment requirements. 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Andy shares Hunting's strategic focus on the heavy-duty fishing market, where the company aims to deliver top-of-the-line tools and enhance its product range in 2024. As the industry continues to evolve, Hunting remains steadfast in its commitment to meeting and exceeding customer expectations.",[],{"_key":13009,"_type":173,"children":13010,"markDefs":13014,"style":182},"ae2c90bf9fa3",[13011],{"_key":13012,"_type":177,"marks":13013,"text":180},"b5252f144eb40",[],[],{"_key":13016,"_type":173,"children":13017,"markDefs":13022,"style":182},"72bf569c6144",[13018],{"_key":13019,"_type":177,"marks":13020,"text":13021},"a0adc3a2fc7e0",[],"Chris Miles, the Thru Tubing Product Line Manager, brings a wealth of field experience spanning over two decades to the table. Emphasizing Hunting's dedication to engineering innovative solutions and providing unparalleled support, Chris highlights the company's longstanding legacy of industry support and active engagement in pivotal discussions. 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After completion of the apprenticeship, I was offered a full time position in the facility in Velsen Noord.",[],{"_key":13139,"_type":173,"children":13140,"markDefs":13145,"style":182},"a19b5400bf83",[13141],{"_key":13142,"_type":177,"marks":13143,"text":13144},"85138da328910",[],"During my apprenticeship, I worked in the shop for four days per week and went to school for one. Initially, I began with operating a single-tool machine for one type of operation. Over time, I gradually expanded my skill set to include a broader range of tools and machinery. Starting as an operator, I have now progressed to the role of an operator\u002Fsetter machining some of the most complex parts processed in the shop.",[],{"_key":13147,"_type":173,"children":13148,"markDefs":13153,"style":182},"04ad9f483255",[13149],{"_key":13150,"_type":177,"marks":13151,"text":13152},"638ae1ddec4b0",[],"I feel prepared for further advancement and I am confident I will get these opportunities with Hunting.",[],{"_key":13155,"_type":173,"children":13156,"markDefs":13160,"style":182},"4840ffff0a54",[13157],{"_key":13158,"_type":177,"marks":13159,"text":180},"b8fef2ac0eb30",[],[],{"_key":13162,"_type":173,"children":13163,"markDefs":13167,"style":182},"6d3cc9bb5e34",[13164],{"_key":13165,"_type":177,"marks":13166,"text":12834},"4ff2f2e3a6b30",[179],[],{"_key":13169,"_type":173,"children":13170,"markDefs":13174,"style":182},"8a1fa155ec63",[13171],{"_key":13172,"_type":177,"marks":13173,"text":180},"347db10f76220",[],[],{"_key":13176,"_type":173,"children":13177,"markDefs":13182,"style":182},"a042ec3422fd",[13178],{"_key":13179,"_type":177,"marks":13180,"text":13181},"e39cb360e43c0",[],"Inclusion for me means simply “being judged on no other than my professional qualities”. This without any further attention to religion, skin colour or in my case – being a woman.",[],{"_key":13184,"_type":173,"children":13185,"markDefs":13189,"style":182},"c0cf72785cb9",[13186],{"_key":13187,"_type":177,"marks":13188,"text":180},"22bfc8b3b71f0",[],[],{"_key":13191,"_type":173,"children":13192,"markDefs":13196,"style":182},"783683959a14",[13193],{"_key":13194,"_type":177,"marks":13195,"text":12857},"101b37a1732d0",[179],[],{"_key":13198,"_type":173,"children":13199,"markDefs":13203,"style":182},"cf7936822e44",[13200],{"_key":13201,"_type":177,"marks":13202,"text":180},"e9332a9725c80",[],[],{"_key":13205,"_type":173,"children":13206,"markDefs":13211,"style":182},"d3ec11311f78",[13207],{"_key":13208,"_type":177,"marks":13209,"text":13210},"10e15c6451b60",[],"I am just “one of the guys”, valued for my professional skills rather than my gender. My value comes from being a loyal, knowledgeable CNC setter. My male colleagues always ask for my advice or opinion. 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Working in what is traditional seen as a “man’s world” it is important for me that everybody realises I am just doing my job. I am a team member, a Hunting employee, a CNC setter and yes, I am a woman.",[],{"_key":13242,"_type":173,"children":13243,"markDefs":13247,"style":182},"5fd5fb1b8cdb",[13244],{"_key":13245,"_type":177,"marks":13246,"text":180},"96a2843bedc20",[],[],{"_key":13249,"_type":173,"children":13250,"markDefs":13254,"style":182},"d55047939480",[13251],{"_key":13252,"_type":177,"marks":13253,"text":12911},"8f4007b2cd520",[179],[],{"_key":13256,"_type":173,"children":13257,"markDefs":13261,"style":182},"5cfe4a094472",[13258],{"_key":13259,"_type":177,"marks":13260,"text":180},"e144b57b99210",[],[],{"_key":13263,"_type":173,"children":13264,"markDefs":13269,"style":182},"6aeec5f9f95c",[13265],{"_key":13266,"_type":177,"marks":13267,"text":13268},"00902c65ed9a0",[],"I am just accepted as a CNC setter. 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Stay tuned for more insights and developments as we continue to lead the charge in efficient completions.",[],{"_type":144,"showCTA":7},"Hunting Energy Services is proud to share the highlights from our successful participation at the Thrive Energy Conference! As industry leaders and innovators, we embraced the opportunity to engage with peers, showcase our latest technologies, and contribute to the conversations shaping the future of hydraulic fracturing.","Minute Maid Park Houston","Hunting's Titan Division at Thrive Energy Conference",{"_key":13385,"_type":6777,"cta":13386,"title":13387,"video":13388},"798d680431f4",{"_type":144,"showCTA":7},"Hunting's Titan Division at Thrive Energy Conference, Minute Maid Park Houston","https:\u002F\u002Fyoutu.be\u002FOG9Qfh12G7g",{"_type":146,"asset":13390,"crop":13392,"hotspot":13393},{"_ref":13391,"_type":141},"image-55adf035996a0b2126e0924d5ecca2bbfd60570b-1920x1080-jpg",{"_type":5643,"bottom":5644,"left":5644,"right":5644,"top":5644},{"_type":5646,"height":955,"width":955,"x":5649,"y":5649},"2024-02-27T15:10:33.387Z",{"_type":9,"current":13396},"hunting-s-titan-division-at-thrive-energy-conference-minute-maid-park-houston","\u002Fnews\u002Fhunting-s-titan-division-at-thrive-energy-conference-minute-maid-park-houston",{"_createdAt":13399,"_id":13400,"_rev":6901,"_system":13401,"_type":168,"_updatedAt":5612,"content":13404,"downloads":13517,"introText":13523,"mainImage":13524,"publishedAt":13394,"slug":13533,"title":13535,"url":13536},"2024-02-27T21:02:42Z","e2781d99-fc80-4f40-9c33-78f7eef1d0eb",{"base":13402},{"id":13400,"rev":13403},"wKdqL2xY0rojJGq4CL8iA7",[13405,13512],{"_key":13406,"_type":193,"body":13407,"cta":13508,"introText":13509,"subHeading":13510,"title":13511},"d24688084300",[13408,13416,13423,13431,13438,13446,13455,13462,13470,13478,13485,13493,13500],{"_key":13409,"_type":173,"children":13410,"markDefs":13415,"style":182},"20aeda9a1212",[13411],{"_key":13412,"_type":177,"marks":13413,"text":13414},"e5ae4260b2b30",[],"Expanding Capacity, Increasing Safety and Efficiency, and Reducing Costs: The synergy between StimStixx Technologies Inc. and Hunting Titan Inc. will enable the increased treatment of more wells annually. This scale of operation is not just a testament to our combined capabilities but also a move towards significantly reducing the cost associated with acidizing processes in the oil and gas industry. StimStixx’ custom blends of HCl and HCl\u002FHF tools will be available to clients to acidize new perforations as well as existing intervals to increase production.",[],{"_key":13417,"_type":173,"children":13418,"markDefs":13422,"style":182},"93acff263d42",[13419],{"_key":13420,"_type":177,"marks":13421,"text":180},"74dc5615781a0",[],[],{"_key":13424,"_type":173,"children":13425,"markDefs":13430,"style":182},"9caeeb7fcea1",[13426],{"_key":13427,"_type":177,"marks":13428,"text":13429},"f6cb3169c2c7",[],"Environmental Commitment: A core aspect of this partnership is our shared commitment to sustainability. By optimizing well treatment processes, this collaboration will play a crucial role in reducing CO2 emissions, aligning with global efforts to mitigate environmental impact in energy extraction processes.",[],{"_key":13432,"_type":173,"children":13433,"markDefs":13437,"style":182},"578decd45328",[13434],{"_key":13435,"_type":177,"marks":13436,"text":180},"2228661aaa930",[],[],{"_key":13439,"_type":173,"children":13440,"markDefs":13445,"style":182},"713fe21735cc",[13441],{"_key":13442,"_type":177,"marks":13443,"text":13444},"3b5e3c339de3",[],"A Future-focused Collaboration:",[],{"_key":13447,"_type":173,"children":13448,"markDefs":13453,"style":13454},"ea3857c3d2e4",[13449],{"_key":13450,"_type":177,"marks":13451,"text":13452},"c3c557edd6cc0",[216],"“We are excited to be working with Hunting Titan Inc., providing cutting-edge technology that not only makes wireline a full-service solution in the industry but also aids in the efficiency and expediency of the process,” said Jordan Brennan, President and CEO. “This partnership improves our ability to provide our technology more quickly the world over.”",[],"blockquote",{"_key":13456,"_type":173,"children":13457,"markDefs":13461,"style":182},"a78a8f3c7688",[13458],{"_key":13459,"_type":177,"marks":13460,"text":180},"a0eb01c99d9e0",[],[],{"_key":13463,"_type":173,"children":13464,"markDefs":13469,"style":182},"2ff43054b556",[13465],{"_key":13466,"_type":177,"marks":13467,"text":13468},"cc992e66b390",[],"Jason Mai, Managing Director of Hunting Titan, Inc., expressed the following remarks:",[],{"_key":13471,"_type":173,"children":13472,"markDefs":13477,"style":13454},"b3060841d887",[13473],{"_key":13474,"_type":177,"marks":13475,"text":13476},"87ce0160e2b90",[216],"\"Our partnership sets a new industry standard for well perforation and acidizing, enhancing operational efficiency and scalability. Committed to environmental stewardship, this collaboration not only contributes to significant cost reduction but also aligns with sustainability goals, marking a pivotal advancement in the completions sector. The industry can expect improved wireline services, greater efficiency, and streamlined processes, reinforcing our dedication to advancing and benefiting the sector while prioritizing environmental responsibility.\"",[],{"_key":13479,"_type":173,"children":13480,"markDefs":13484,"style":182},"c848548cfc94",[13481],{"_key":13482,"_type":177,"marks":13483,"text":180},"a06f7ab7d3970",[],[],{"_key":13486,"_type":173,"children":13487,"markDefs":13492,"style":182},"d2b38840280d",[13488],{"_key":13489,"_type":177,"marks":13490,"text":13491},"0e223a1e0776",[],"About Hunting Titan Inc.: Hunting Titan Inc. is a distribution leader of well completions technology across the globe, specializing in the design and manufacture of advanced perforating systems, energetics, instrumentation, and associated hardware.",[],{"_key":13494,"_type":173,"children":13495,"markDefs":13499,"style":182},"c46bc63ec7ec",[13496],{"_key":13497,"_type":177,"marks":13498,"text":180},"2de61061fb860",[],[],{"_key":13501,"_type":173,"children":13502,"markDefs":13507,"style":182},"1977900f2f9e",[13503],{"_key":13504,"_type":177,"marks":13505,"text":13506},"f460622c2d1b",[],"About StimStixx Technologies Inc: StimStixx Technologies Inc is an industrial manufacturing company devoted to manufacturing technology which improves the safety, efficiency and environmental impact of advanced well stimulation technologies.",[],{"_type":144,"showCTA":7},"The collaboration will extend StimStixx Technologies’ global distribution network and foster development of integrated acidizing and perforating technologies, setting a new standard in the completions sector. This combined innovation symbolizes a significant leap in operational efficiency and effectiveness in well treatments.","A key move in advancing well perforation and acidization technologies","Hunting Titan Inc is excited to announce a groundbreaking product development and distribution partnership with industry leader StimStixx Technologies Inc.",{"_key":13513,"_type":6777,"cta":13514,"title":13515,"video":13516},"d4391a0c8f3b",{"_type":144,"showCTA":7},"StimStixx Stackable Assembly","https:\u002F\u002Fyoutu.be\u002FXApadwOS86c",[13518],{"_key":13519,"_type":10023,"asset":13520,"title":13522},"2addb2900f16",{"_ref":13521,"_type":141},"file-34677f3e08b2a822d5c82bc46642220c5cf677bf-pdf","Stim Stixx Brochure","to Revolutionize Well Perforation and Acidizing",{"_type":146,"asset":13525,"crop":13527,"hotspot":13530},{"_ref":13526,"_type":141},"image-6b7e3a1229f0f1e7583fea905472b6ba5f9cbd4a-1920x1080-png",{"_type":5643,"bottom":5644,"left":13528,"right":13529,"top":5644},0.1592465753424659,0.12157534246575341,{"_type":5646,"height":955,"width":13531,"x":13532,"y":5649},0.7191780821917807,0.5188356164383563,{"_type":9,"current":13534},"stimstixx-technologies-inc-strategic-partnership","StimStixx Technologies Inc Announces Strategic Partnership with Hunting Titan Inc.","\u002Fnews\u002Fstimstixx-technologies-inc-strategic-partnership",{"_createdAt":13538,"_id":13539,"_rev":11751,"_type":168,"_updatedAt":5612,"content":13540,"downloads":13660,"introText":13666,"mainImage":13667,"publishedAt":13674,"slug":13675,"title":13677,"url":13678},"2024-02-12T21:19:35Z","42419c4a-3a7a-45ab-a9eb-1d28eaf78e97",[13541,13585,13632],{"_key":13542,"_type":193,"body":13543,"cta":13582,"introText":13583,"title":13584},"fd89dd6b3d8c",[13544,13552,13559,13567,13574],{"_key":13545,"_type":173,"children":13546,"markDefs":13551,"style":182},"5bdf66c878c1",[13547],{"_key":13548,"_type":177,"marks":13549,"text":13550},"28edf9fb413e0",[],"First and foremost is the self-orienting tandem, a patented technology that eliminates the need for eccentric weight bars and lock collars. By automatically rotating the charge tube assembly to within +\u002F- 5 degrees of the desired shot phasing, the H-4 system ensures unmatched precision and efficiency in perforating operations.",[],{"_key":13553,"_type":173,"children":13554,"markDefs":13558,"style":182},"f33ed3fb10a9",[13555],{"_key":13556,"_type":177,"marks":13557,"text":180},"191cb5dd63ff0",[],[],{"_key":13560,"_type":173,"children":13561,"markDefs":13566,"style":182},"2866f6c1f5ca",[13562],{"_key":13563,"_type":177,"marks":13564,"text":13565},"cad85343426f0",[],"Additionally, the H-4 system offers plug-and-play convenience, streamlining the arming process by allowing operators to simply plug in the modular detonator. This eliminates the need for complex field wiring, reducing non-productive time and enhancing overall operational efficiency.",[],{"_key":13568,"_type":173,"children":13569,"markDefs":13573,"style":182},"35fc7055d56c",[13570],{"_key":13571,"_type":177,"marks":13572,"text":180},"4123bbe8a43a0",[],[],{"_key":13575,"_type":173,"children":13576,"markDefs":13581,"style":182},"d949053f052f",[13577],{"_key":13578,"_type":177,"marks":13579,"text":13580},"5f5d7597deb60",[],"At the heart of the H-4 Perforating System lies the innovative ControlFire Recon technology, which enables automated firing at depth and allows for the remote interrogation of the perforating gun using ControlFire Software. Not only does this advanced switch technology enhance safety by minimizing manual intervention, but it also boosts operational efficiency by providing real-time insights into the status of the perforating gun.",[],{"_type":144,"showCTA":7},"Hunting's latest innovation, the H-4 Oriented Perforating System, marks a new era in well completion technology. Designed to address the challenges and limitations of traditional perforating methods, the H-4 system boasts several key features for modern oriented perforating.","Hunting Releases H-4 Oriented Perforating System",{"_key":13586,"_type":193,"body":13587,"cta":13629,"introText":13630,"title":13631},"d70d1b09b14c",[13588,13596,13603,13611,13618],{"_key":13589,"_type":173,"children":13590,"markDefs":13595,"style":182},"e3805d324910",[13591],{"_key":13592,"_type":177,"marks":13593,"text":13594},"55d62d15b28c0",[],"Analysis of shot data from 20 completion stages revealed a significant increase in entry hole accuracy when using the H-4 system. A remarkable 91% of H-4 perforations were within +\u002F- 5% of the target direction, compared to just 30% with mechanically oriented guns utilizing eccentric weight bars.",[],{"_key":13597,"_type":173,"children":13598,"markDefs":13602,"style":182},"697256e405db",[13599],{"_key":13600,"_type":177,"marks":13601,"text":180},"1074f98fdcec0",[],[],{"_key":13604,"_type":173,"children":13605,"markDefs":13610,"style":182},"77de83863f48",[13606],{"_key":13607,"_type":177,"marks":13608,"text":13609},"ad14d2e130630",[],"Furthermore, the trial highlighted the reliability and consistency of the H-4 system, with 98% of entry holes within +\u002F- 7% of the target. These results underscore the transformative impact of the H-4 Perforating System on well completion processes, offering operators unprecedented levels of accuracy and reliability.",[],{"_key":13612,"_type":173,"children":13613,"markDefs":13617,"style":182},"695299bc2f00",[13614],{"_key":13615,"_type":177,"marks":13616,"text":180},"2a61b8705569",[],[],{"_key":13619,"_type":173,"children":13620,"markDefs":13626,"style":182},"2794203b9304",[13621],{"_key":13622,"_type":177,"marks":13623,"text":13625},"5778bbfd1d470",[13624],"a05366d9352c","Full Case Study",[13627],{"_key":13624,"_type":138,"href":13628},"https:\u002F\u002Fcdn.sanity.io\u002Ffiles\u002Fbwa44qrg\u002Fproduction\u002F70ec7be301676512856e16eb2bd18699f31cd2d6.pdf",{"_type":144,"showCTA":7},"To demonstrate the capabilities of the H-4 Perforating System, Hunting conducted a comprehensive field trial in West Texas, comparing the H-4 system to conventional methods of oriented perforating. The results of the trial were nothing short of impressive.","A Case Study in Action: Field Trial Results",{"_key":13633,"_type":193,"body":13634,"cta":13658,"title":13659},"a675cc928724",[13635,13643,13650],{"_key":13636,"_type":173,"children":13637,"markDefs":13642,"style":182},"30fae010ac56",[13638],{"_key":13639,"_type":177,"marks":13640,"text":13641},"3491a3b754270",[],"As the energy sector continues to evolve, the demand for innovative solutions that can drive efficiency and productivity has never been greater. With the introduction of the H-4 Perforating System, Hunting has once again demonstrated its commitment to pushing the boundaries of technology and engineering to meet the complex demands of the oil and gas industry.",[],{"_key":13644,"_type":173,"children":13645,"markDefs":13649,"style":182},"21c40e494c79",[13646],{"_key":13647,"_type":177,"marks":13648,"text":180},"ace253a7db3f0",[],[],{"_key":13651,"_type":173,"children":13652,"markDefs":13657,"style":182},"910ceb52f4a2",[13653],{"_key":13654,"_type":177,"marks":13655,"text":13656},"878a5fbde7080",[],"Moving forward, the H-4 system is poised to become the gold standard in well completion technology, offering operators a reliable and efficient solution for achieving precise perforations and maximizing reservoir productivity. As Hunting continues to refine and enhance the H-4 system, the future of oil and gas well completions looks brighter than ever before.",[],{"_type":144,"showCTA":7},"Looking Towards the Future",[13661],{"_key":13662,"_type":10023,"asset":13663,"title":13665},"513129ee17b0",{"_ref":13664,"_type":141},"file-70ec7be301676512856e16eb2bd18699f31cd2d6-pdf","H-4 Case Study","Innovation is key to unlocking greater efficiency, safety, and productivity. Hunting, a leader in providing cutting-edge solutions for the energy sector, has taken a significant leap forward with the introduction of the H-4 Oriented Perforating System. This groundbreaking technology promises to improve completion processes, offering unparalleled accuracy, ease of use, and advanced features to enhance perforating operations.",{"_type":146,"asset":13668,"crop":13670,"hotspot":13671},{"_ref":13669,"_type":141},"image-373d8bb910d93710cac2a14144f3458dc05677f9-1203x1205-png",{"_type":5643,"bottom":5644,"left":5644,"right":5644,"top":5644},{"_type":5646,"height":13672,"width":955,"x":5649,"y":13673},0.769503685503686,0.48528746928746946,"2024-02-12T15:37:26.432Z",{"_type":9,"current":13676},"h-4-oriented-perforating-system-case-study","Advancing Oil and Gas Well Completions: A Case Study of the H-4 Oriented Perforating System","\u002Fnews\u002Fh-4-oriented-perforating-system-case-study",{"_createdAt":13680,"_id":13681,"_rev":5417,"_type":168,"_updatedAt":116,"categories":13682,"content":13685,"downloads":13889,"introText":13895,"mainImage":13896,"publishedAt":13674,"slug":13899,"tags":13901,"title":13907,"url":13908},"2024-02-12T20:11:49Z","74165ad9-9aca-4df5-96cb-57fcc23eef4f",[13683],{"_key":13684,"_ref":5404,"_type":141},"f4e770865c87",[13686,13880],{"_key":13687,"_type":193,"body":13688,"cta":13877,"subHeading":13878,"title":13879},"d4787612afeb",[13689,13697,13704,13712,13719,13727,13734,13742,13749,13757,13764,13772,13779,13787,13794,13802,13809,13817,13824,13832,13839,13847,13854,13862,13869],{"_key":13690,"_type":173,"children":13691,"markDefs":13696,"style":182},"f9c6e42f4fe5",[13692],{"_key":13693,"_type":177,"marks":13694,"text":13695},"84fca8de16e9",[],"Located in Grande Prairie, our newly opened facility is set to rapidly deliver pre-loaded perforating guns. The Payload Service offers factory-assembled, loaded, delivered, and supported cartridge-based perforating guns, a testament to Hunting's commitment to innovation and reliability.",[],{"_key":13698,"_type":173,"children":13699,"markDefs":13703,"style":182},"e3dc527a5b60",[13700],{"_key":13701,"_type":177,"marks":13702,"text":180},"52d16ca36fc7",[],[],{"_key":13705,"_type":173,"children":13706,"markDefs":13711,"style":182},"79c49f3d969d",[13707],{"_key":13708,"_type":177,"marks":13709,"text":13710},"7ad4dcd2d001",[179],"A Comprehensive Fleet for Every Need",[],{"_key":13713,"_type":173,"children":13714,"markDefs":13718,"style":182},"8286891158f2",[13715],{"_key":13716,"_type":177,"marks":13717,"text":180},"20b3abc64a61",[],[],{"_key":13720,"_type":173,"children":13721,"markDefs":13726,"style":182},"31523784c8bf",[13722],{"_key":13723,"_type":177,"marks":13724,"text":13725},"d20407088931",[],"The Payload Service introduces a fleet of perforating guns, including the H-3 Perforating System, H-4 Oriented Perforating System, and E-Gun Perforating Systems, all meticulously manufactured in-house. These guns, already renowned for their reliable performance and technical support, are now readily available in the Canadian market.",[],{"_key":13728,"_type":173,"children":13729,"markDefs":13733,"style":182},"099b8c3af634",[13730],{"_key":13731,"_type":177,"marks":13732,"text":180},"6956bb8c87ff",[],[],{"_key":13735,"_type":173,"children":13736,"markDefs":13741,"style":182},"636d64676e7f",[13737],{"_key":13738,"_type":177,"marks":13739,"text":13740},"6643060442c2",[179],"Single Source Supply Chain, Delivered Direct",[],{"_key":13743,"_type":173,"children":13744,"markDefs":13748,"style":182},"0fa2c2432d51",[13745],{"_key":13746,"_type":177,"marks":13747,"text":180},"0a1cbcfd47d6",[],[],{"_key":13750,"_type":173,"children":13751,"markDefs":13756,"style":182},"8ae8fc55a57e",[13752],{"_key":13753,"_type":177,"marks":13754,"text":13755},"8a96180828d1",[],"At Hunting, we believe in simplifying the supply chain for our customers. Our distribution centers, strategically positioned in major basins, ensure a fully stocked inventory, ready for rapid deployment. This single sourcesupply chain is delivered direct and exemplifies our commitment to efficiency and prompt service.",[],{"_key":13758,"_type":173,"children":13759,"markDefs":13763,"style":182},"b308b1a84884",[13760],{"_key":13761,"_type":177,"marks":13762,"text":180},"0b5b0a3b384a",[],[],{"_key":13765,"_type":173,"children":13766,"markDefs":13771,"style":182},"cdaa1f5da1b1",[13767],{"_key":13768,"_type":177,"marks":13769,"text":13770},"ddfbce0fe4fb",[179],"Quality Assurance at Every Step",[],{"_key":13773,"_type":173,"children":13774,"markDefs":13778,"style":182},"fdf9918a8445",[13775],{"_key":13776,"_type":177,"marks":13777,"text":180},"8ac8aaa7cd7b",[],[],{"_key":13780,"_type":173,"children":13781,"markDefs":13786,"style":182},"d50b3e891350",[13782],{"_key":13783,"_type":177,"marks":13784,"text":13785},"2e17ef118ea2",[],"Our commitment to quality begins at the manufacturing stage. Each perforating gun undergoes meticulous assembly and testing at our advanced facilities. Hunting maintains complete control of the supply chain, sourcing all components and labor in-house. This approach guarantees not only cutting-edge technology but also unmatched performance, compatibility, and reliability.",[],{"_key":13788,"_type":173,"children":13789,"markDefs":13793,"style":182},"2484debcfec2",[13790],{"_key":13791,"_type":177,"marks":13792,"text":180},"466d9a458250",[],[],{"_key":13795,"_type":173,"children":13796,"markDefs":13801,"style":182},"b5a2b484b73c",[13797],{"_key":13798,"_type":177,"marks":13799,"text":13800},"05f0e599dc17",[179],"Innovative Technology for Maximum Performance",[],{"_key":13803,"_type":173,"children":13804,"markDefs":13808,"style":182},"43cf177b45e4",[13805],{"_key":13806,"_type":177,"marks":13807,"text":180},"369916a4d69d",[],[],{"_key":13810,"_type":173,"children":13811,"markDefs":13816,"style":182},"a0512a6dc66e",[13812],{"_key":13813,"_type":177,"marks":13814,"text":13815},"ab83fe4bab76",[],"The Payload perforating systems are at the forefront of innovation, utilizingControlFire Recon technology. These perforating systems boast a rapid-arming, modular, and addressable design. Thisallows for detonator detection both downhole and at the surface using ControlFire software and the VeriFire Panel. As with all ControlFire® products, the Recon Cartridge ensures safety from radio frequencies, stray voltage, and electrostatic discharge.",[],{"_key":13818,"_type":173,"children":13819,"markDefs":13823,"style":182},"a106802949ba",[13820],{"_key":13821,"_type":177,"marks":13822,"text":180},"4905c041c626",[],[],{"_key":13825,"_type":173,"children":13826,"markDefs":13831,"style":182},"ca9bc109f987",[13827],{"_key":13828,"_type":177,"marks":13829,"text":13830},"29564cb276e3",[179],"A New Chapter for Canadian Energy Solutions",[],{"_key":13833,"_type":173,"children":13834,"markDefs":13838,"style":182},"ec1871d4adf9",[13835],{"_key":13836,"_type":177,"marks":13837,"text":180},"0e65e26886b5",[],[],{"_key":13840,"_type":173,"children":13841,"markDefs":13846,"style":182},"789f64c21727",[13842],{"_key":13843,"_type":177,"marks":13844,"text":13845},"00ebf0d17867",[],"\"As the demand for cutting-edge perforating solutions grows in the Canadian market, the introduction of the Payload Service reaffirms Hunting's commitment to innovation, reliability, and unmatched performance,\" remarked Ron McMullan, Canadian Area Sales Manager at Hunting.",[],{"_key":13848,"_type":173,"children":13849,"markDefs":13853,"style":182},"25673a646e79",[13850],{"_key":13851,"_type":177,"marks":13852,"text":180},"2a7dce0900a8",[],[],{"_key":13855,"_type":173,"children":13856,"markDefs":13861,"style":182},"1648ffd44bdc",[13857],{"_key":13858,"_type":177,"marks":13859,"text":13860},"0aa5e054ae73",[],"The Grande Prairie facility is now operational, poised to meet the evolving needs of the Canadian oil and gas industry. For more information about the Payload Service and Hunting's perforating solutions, contact us.",[],{"_key":13863,"_type":173,"children":13864,"markDefs":13868,"style":182},"5edd427fd93e",[13865],{"_key":13866,"_type":177,"marks":13867,"text":180},"74ab7a38ccf8",[],[],{"_key":13870,"_type":173,"children":13871,"markDefs":13876,"style":182},"41a70e276fc2",[13872],{"_key":13873,"_type":177,"marks":13874,"text":13875},"8d076a08fd83",[],"Stay tuned for more updates on the PayloadService and other innovations shaping the future of energy at Hunting.",[],{"_type":144,"showCTA":7},"A Paradigm Shift in Perforating Technology","Payload Service",{"_key":13881,"_type":13882,"aligned":125,"colour":126,"cta":13883,"quote":13884,"title":13888},"a534f211ce28","quote",{"_type":144,"showCTA":7},{"name":13885,"quotation":13886,"title":13887},"Ron McMullan","As the demand for cutting-edge perforating solutions grows in the Canadian market, the introduction of the Payload Service reaffirms Hunting's commitment to innovation, reliability, and unmatched performance","Canadian Area Sales Manager at Hunting","Payload",[13890],{"_key":13891,"_type":10023,"asset":13892,"title":13894},"8142abc6512d",{"_ref":13893,"_type":141},"file-a19b80d4bde0aa7505a51737c242aed946653973-pdf","Payload Brochure","In the ever-evolving landscape of the Canadian energy sector, innovation and adaptation to field changes remain the key driver of progress. Today, we are thrilled to announce the expansion of our Payload Service. Hunting, a global industry leader in the manufacture of oilfield shaped charges and select-fire technology, is now bringing its pre-loaded perforating guns to Canada.",{"_type":146,"asset":13897},{"_ref":13898,"_type":141},"image-c14ce91f8c1426ee512dc568f01d7a0c44b2206e-1145x594-png",{"_type":9,"current":13900},"revolutionizing-canadian-energy-landscape-introducing-the-payload-service",[13902,13904],{"_key":13903,"_ref":8781,"_type":141},"8a9896d668d3",{"_key":13905,"_ref":13906,"_type":141},"e050ef92dfef","c8494377-d24d-4e35-ab52-25b3defe8bfc","Revolutionizing the Canadian Energy Landscape: Introducing the Payload® Service by Hunting ","\u002Fnews\u002Frevolutionizing-canadian-energy-landscape-introducing-the-payload-service",{"_createdAt":13910,"_id":13911,"_rev":13912,"_type":168,"_updatedAt":116,"categories":13913,"content":13916,"introText":13922,"publishedAt":13923,"slug":13924,"tags":13926,"title":13930,"url":13931},"2024-01-15T14:39:48Z","ce1ac772-f3d2-4f55-be3d-d9ee3f960d07","Sy3FFEkt4VKop7rT0EK4FO",[13914],{"_key":13915,"_ref":5404,"_type":141},"08240a9139f2",[13917],{"_key":13918,"_type":6777,"cta":13919,"title":13920,"video":13921},"6764e84f1cb5",{"_type":144,"showCTA":7},"Investor presentation with Q&A","https:\u002F\u002Fyoutu.be\u002Fs2o1mC8i23o","Investor presentation covering the Trading Update for the financial year ending 31 December 2023","2024-01-11T14:25:00.000Z",{"_type":9,"current":13925},"investor-presentation-on-11-january-2024-news",[13927],{"_key":13928,"_ref":13929,"_type":141},"32012b4d113d","e1c2ec19-2bcb-400b-aa76-c4e273944a6d","Investor presentation on 11 January 2024","\u002Fnews\u002Finvestor-presentation-on-11-january-2024-news",{"_createdAt":13933,"_id":13934,"_rev":13935,"_type":168,"_updatedAt":116,"body":13936,"categories":14097,"introText":14100,"publishedAt":14101,"slug":14102,"tags":14104,"title":14108,"url":14109},"2024-01-09T15:21:58Z","88503b87-b82b-4550-8ff4-643e99956e26","DBMO57ZIr7O8zFikjHd5BN",[13937,13944,13952,13960,13968,13976,13984,13992,13999,14007,14015,14023,14031,14039,14047,14055,14063,14071,14078],{"_key":13938,"_type":173,"children":13939,"markDefs":13943,"style":182},"a7502673ce96",[13940],{"_key":13941,"_type":177,"marks":13942,"text":8174},"4027dd9046090",[179],[],{"_key":13945,"_type":173,"children":13946,"markDefs":13951,"style":182},"373de6d64702",[13947],{"_key":13948,"_type":177,"marks":13949,"text":13950},"93e9e22d637e0",[],"Geothermal energy is experiencing a renewed resurgence of interest and investment as governments at a national and local level work to decarbonise their energy mix away from an over reliance on hydrocarbons. The geothermal industry last saw significant investment following the oil supply shocks of the 1970’s but has until now largely remained confined to regions with particularly high geothermal gradients, marked by high volcanic activity such as countries around the Pacific.",[],{"_key":13953,"_type":173,"children":13954,"markDefs":13959,"style":182},"07f6aeda8988",[13955],{"_key":13956,"_type":177,"marks":13957,"text":13958},"b49eec46b58b0",[],"With the energy transition a key focus for policymakers geothermal has returned as an attractive clean and renewable energy source. A key advantage of geothermal over other renewable solutions lies in its reliability, as it can produce a constant supply of energy 24\u002F7, in contrast to the intermittent nature of wind and solar. The capability to provide a reliable baseload of power and heat supply ensures geothermal will be a critical element of future energy systems.",[],{"_key":13961,"_type":173,"children":13962,"markDefs":13967,"style":182},"b59949cc0388",[13963],{"_key":13964,"_type":177,"marks":13965,"text":13966},"c13d1697aa900",[],"For power generation, as well as increased drilling in conventional hydrothermal reservoirs there is an active program of exploratory drilling to access so called enhanced geothermal systems (EGS) through deep drilling with hydraulic fracturing to enhance the resource potential. This has the potential to open up new regions to geothermal. Geothermal can also be an attractive energy source for domestic and industrial heating, which represents a significant source of hard to abate Co2 emissions (in the UK heating accounts for about 37% of total UK carbon emissions (CCC 2022)).",[],{"_key":13969,"_type":173,"children":13970,"markDefs":13975,"style":182},"caf523bf1d2c",[13971],{"_key":13972,"_type":177,"marks":13973,"text":13974},"a0962590ff930",[179],"Key Growth Drivers",[],{"_key":13977,"_type":173,"children":13978,"markDefs":13983,"style":182},"3268ce0b9bac",[13979],{"_key":13980,"_type":177,"marks":13981,"text":13982},"4a8fc8c261f30",[],"The recent energy crisis has brought energy security and energy affordability into sharp focus for governments and consumers across the world. Government incentives have played a pivotal role in fast tracking the move to clean energy production. In the USA the Inflation Reduction Act (IRA), in addition to curbing inflation has provided significant stimulus through tax credits to promote investment in clean energy. In turn, the EU has outlined its Green Deal Industrial Plan which similarly aims to incentivise the adoption of clean energy. As the energy transition has gathered pace there has been a notable trend of oil and gas suppliers looking to reposition themselves and diversify toward supporting more sustainable energy sources. In geothermal they have seen an opportunity to leverage their experience and skills in terms of sub-surface formation evaluation, drilling, and more efficient use of the technology necessary for cost effective injection and production of fluids to surface.",[],{"_key":13985,"_type":173,"children":13986,"markDefs":13991,"style":182},"ebe299efb7ce",[13987],{"_key":13988,"_type":177,"marks":13989,"text":13990},"3b1fbdef663c0",[],"Even before the IRA, the USA was the global leader in geothermal energy, with California and Nevada, both endowed with high geothermal gradients, producing around 6% and 10% respectively of their electricity from geothermal. Other global ‘hotspots’ are to be foundin Iceland, Kenya, Turkey and some APAC countries including Philippines, Indonesia and New Zealand.These countries are ideally located close to geological zones of relatively shallow high heat flow.In Europe development of geothermal district heating networks is making great strides, most notably in countries such as Denmark, the Netherlands, France and Germany. Development of exciting next generation geothermal extraction technologies strives to attain the possibility of geothermal everywhere.",[],{"_key":13993,"_type":173,"children":13994,"markDefs":13998,"style":182},"3838250ac430",[13995],{"_key":13996,"_type":177,"marks":13997,"text":180},"a8815824ea150",[],[],{"_key":14000,"_type":173,"children":14001,"markDefs":14006,"style":182},"c447e480bb35",[14002],{"_key":14003,"_type":177,"marks":14004,"text":14005},"b7161b4378b20",[179],"Supported by Leaders in the Oil & Gas Industry",[],{"_key":14008,"_type":173,"children":14009,"markDefs":14014,"style":182},"aaf2b53268dd",[14010],{"_key":14011,"_type":177,"marks":14012,"text":14013},"b1aa8058353d0",[],"Hunting plc (Hunting), a global leader in the provision of services to the energy sector, with an established history supplying Oil Country Tubular Goods (OCTG), downhole perforating systems and other specialist equipment to the oil and gas industry forecasts significant growth in geothermal activity. In fact, Hunting has been supporting geothermal projects for decades, but they have now observed a significant uptick in business activity across the key geothermal market areas in the US, APAC region and Europe. The endorsement of major oil and gas operators, such as in the case of Eavor, backed by the likes of bp and OMV, Fervo Energy’s collaboration with Devon Energy and Chevron’s JV with Baseload Capital, signifies a step-change in the capabilities and ambitions to make geothermal a bigger part of the energy mix.",[],{"_key":14016,"_type":173,"children":14017,"markDefs":14022,"style":182},"1cfecae6c457",[14018],{"_key":14019,"_type":177,"marks":14020,"text":14021},"6ef1b83b49f80",[179],"Ambitious Targets will Drive Investment and Growth",[],{"_key":14024,"_type":173,"children":14025,"markDefs":14030,"style":182},"63c5cba34849",[14026],{"_key":14027,"_type":177,"marks":14028,"text":14029},"c2d6328049c40",[],"This year in California, the California Public Utilities Commission (CPUC) approved an ambitious plan that aims to add 2GW of geothermal power plants representing over double the States’ current geothermal power production of c.a. 1900MW. Ambitious targets set in California and other regions have bolstered investor confidence in the geothermal energy sector. This growing confidence has inspired companies like Eavor and Fervo Energy to push the boundaries of traditional geothermal drilling techniques in pursuit of Advanced Geothermal Systems (AGS) and EGS respectively.In their endeavours, they draw upon techniques and technology derived from the oil and gas industry to achieve their goals.",[],{"_key":14032,"_type":173,"children":14033,"markDefs":14038,"style":182},"b0e033941f6f",[14034],{"_key":14035,"_type":177,"marks":14036,"text":14037},"fc91853da0510",[],"Temperatures downhole in some of the hottest geothermal wells can reach over 620° F, with fluids often being highly corrosive under these superheated steam conditions. This environment requires exotic corrosion resistant materials that can withstand these extremely challenging conditions. Providing a safe and reliable well infrastructure for production of superheated steam up to surface power plants and reinjection of cooler fluid back down to superhot rock formations, thus resuming the cycle.",[],{"_key":14040,"_type":173,"children":14041,"markDefs":14046,"style":182},"43f8a1e23940",[14042],{"_key":14043,"_type":177,"marks":14044,"text":14045},"5e39ee75cb240",[179],"Leveraging Oil & Gas HPHT and Advanced Well Construction Experience",[],{"_key":14048,"_type":173,"children":14049,"markDefs":14054,"style":182},"b17ee1c7fd90",[14050],{"_key":14051,"_type":177,"marks":14052,"text":14053},"e4811edda1d10",[],"Hunting is leveraging its significant experience in OCTG and metal to metal sealing premium connections that maintain well integrity and extend the lifespan of these wells, alongside the use of advanced materials with its experience in subsea technology and precision manufacturing of critical components used in aerospace and space industries. The oil and gas industry has overcome numerous technical challenges to reach deeper and deeper depths to produce high press high temperature (HPHT) hydrocarbons and has pioneered critical directional drilling and completion technologies. These advancements in HPHT and Unconventional Oil and Gas technologies can now help drive geothermal to the next level, increasing the geothermal potential that can be harnessed.",[],{"_key":14056,"_type":173,"children":14057,"markDefs":14062,"style":182},"20f7c3692ef0",[14058],{"_key":14059,"_type":177,"marks":14060,"text":14061},"11f70c4a7b410",[179],"Significant Growth Potential",[],{"_key":14064,"_type":173,"children":14065,"markDefs":14070,"style":182},"22549103ceb3",[14066],{"_key":14067,"_type":177,"marks":14068,"text":14069},"ed3932a8f0a40",[],"The geothermal sector is primed for growth, with strong market drivers supporting its development as a key component of strategies to achieve Net Zero targets. Increased investment and leveraging of the oil and gas industry’s experience and technology means new techniques can propagate into areas where previously geothermal was deemed unworkable. This opens up the opportunity to develop a reliable clean energy source and help to reduce carbon emissions from hard to abate energy sectors.",[],{"_key":14072,"_type":173,"children":14073,"markDefs":14077,"style":182},"bc4eb94a5eaf",[14074],{"_key":14075,"_type":177,"marks":14076,"text":180},"796d1c3c96a4",[],[],{"_key":14079,"_type":173,"children":14080,"markDefs":14094,"style":182},"2193d80a2047",[14081,14085,14090],{"_key":14082,"_type":177,"marks":14083,"text":14084},"a5a93ff95925",[],"Credit - This article first appeared in PE Outlook 2024 (",{"_key":14086,"_type":177,"marks":14087,"text":14089},"9edaa1500a32",[14088],"6069e7fe7f00","available here",{"_key":14091,"_type":177,"marks":14092,"text":14093},"24043870e81a",[],")",[14095],{"_key":14088,"_type":138,"href":14096},"https:\u002F\u002Furldefense.com\u002Fv3\u002F__https:\u002Fstore.petroleum-economist.com\u002FProductDetails.asp?ProductCode=MPEB214__;!!H_q-o1I4kFo!nE16gtejmS3EG1JpWac1-9Em5DuyPpmolxCpaNpSy4oL_ayBjl3SGXxdR1MoeDUAZljcF18yIpdwAzbBjsOfTZ4D58bzW_-WeADwNwrSTxA$",[14098],{"_key":14099,"_ref":1713,"_type":141},"3bd5cb761d84","Geothermal Energy Sector is set for Growth due to positive Market Drivers and the backing of Oil and Gas Suppliers.","2024-01-09T15:14:53.121Z",{"_type":9,"current":14103},"geothermal-energy-sector-is-set-for-growth-due-to-positive-market-drivers-and-the-backing-of-oil",[14105],{"_key":14106,"_ref":14107,"_type":141},"3c3389c02c15","9fb900b1-d95f-4e4d-990c-1674b0ccf6d1","Thought Leadership Piece for Petroleum Economist Outlook 2024","\u002Fnews\u002Fgeothermal-energy-sector-is-set-for-growth-due-to-positive-market-drivers-and-the-backing-of-oil",{"_createdAt":14111,"_id":14112,"_rev":10063,"_type":168,"_updatedAt":116,"body":14113,"categories":14162,"introText":14165,"mainImage":14166,"publishedAt":14177,"slug":14178,"tags":14180,"title":14183,"url":14184},"2024-01-08T08:28:03Z","405c0894-4b34-4866-8d0d-e01f8705b0d9",[14114,14122,14130,14138,14146,14154],{"_key":14115,"_type":173,"children":14116,"markDefs":14121,"style":182},"d9e25898c960",[14117],{"_key":14118,"_type":177,"marks":14119,"text":14120},"d88b36afd11d0",[],"We are pleased to announce the launch of its Energy Transition (ET) campaign- this month. The ET campaign aims to showcase the company's commitment to sustainable energy solutions, with a particular emphasis on Geothermal energy and Carbon Capture, Utilization and Storage (CCUS).",[],{"_key":14123,"_type":173,"children":14124,"markDefs":14129,"style":182},"eeffb105f0b2",[14125],{"_key":14126,"_type":177,"marks":14127,"text":14128},"ffe20f39a4da0",[],"The global economy is witnessing an unprecedented shift towards sustainable energy. Energy Transition markets indicate robust growth to 2050 for geothermal and carbon capture. Numerous projects across North America, Europe, and Asia Pacific support factors such as growing industry investments and the immense transformational potential of Geothermal and CCUS on energy and environmental sustainability.",[],{"_key":14131,"_type":173,"children":14132,"markDefs":14137,"style":182},"4f351204ed15",[14133],{"_key":14134,"_type":177,"marks":14135,"text":14136},"40d37576d57f0",[],"Outlined during the previous year's Capital Markets Day, Hunting 2030 presents a robust growth strategy designed for long-term resilience. This strategy aligns Hunting's technology portfolio and supply chain with high-growth, accessible markets. Hunting's diversified product portfolio, which includes robust proprietary OCTG Connection Technology solutions customized for these niche well construction and casing design challenges, Subsea Technology, Advanced Manufacturing, and well completion Perforating Systems, is set to expand into energy sectors beyond oil and gas as part of the Hunting 2030 Strategy. This strategic move promises sustainable growth over the next decade, leveraging the company's core competencies to meet the evolving demands of the energy market.",[],{"_key":14139,"_type":173,"children":14140,"markDefs":14145,"style":182},"43ee3854d851",[14141],{"_key":14142,"_type":177,"marks":14143,"text":14144},"86c592e5b2940",[],"Hunting PLC is proactively participating in these markets, leveraging its comprehensive technology base and critical supply chain channels and capitalizing on growth opportunities. The company has actively engaged in several projects, demonstrating its technological prowess and commitment to unlocking the full potential of Geothermal and CCUS.",[],{"_key":14147,"_type":173,"children":14148,"markDefs":14153,"style":182},"47301f9f52cb",[14149],{"_key":14150,"_type":177,"marks":14151,"text":14152},"d0ecf4b4f80a0",[],"During January, Hunting will launch diverse marketing initiatives dedicated to showcasing its presence in the Geothermal and CCUS (Carbon Capture, Utilization, and Storage) markets. Follow us on LinkedIn to delve deeper into our strategic marketing initiatives aimed at raising awareness about our contributions in this space.",[],{"_key":14155,"_type":173,"children":14156,"markDefs":14161,"style":182},"9fa5f2760461",[14157],{"_key":14158,"_type":177,"marks":14159,"text":14160},"fe330c3dedaf0",[],"Sean O'Shea, Hunting's Director of Energy Transition, shares: \"We are proud to be at the forefront of the energy transition. At Hunting, we are committed to providing unique technology offerings that align with the Energy Transition objectives of our partners. Our precision engineering prowess and industry expertise make us an ideal partner in this transition. “",[],[14163],{"_key":14164,"_ref":1713,"_type":141},"e2f94ba6ab12","Focusing on Geothermal and Carbon Capture and Storage",{"_type":146,"alt":14167,"asset":14168,"crop":14170,"hotspot":14172},"Headshot of Sean O'Shea",{"_ref":14169,"_type":141},"image-d13328ca39176487febadbeaefe51e0a3553d11e-1300x1300-jpg",{"_type":5643,"bottom":14171,"left":5644,"right":5644,"top":5644},0.4705882352941172,{"_type":5646,"height":14173,"width":14174,"x":14175,"y":14176},0.3872549019607849,0.897058823529412,0.5024509803921569,0.21813725490196093,"2024-01-08T08:27:26.850Z",{"_type":9,"current":14179},"hunting-launches-energy-transition-month",[14181],{"_key":14182,"_ref":14107,"_type":141},"c126607b2d04","Hunting Launches Energy Transition Month ","\u002Fnews\u002Fhunting-launches-energy-transition-month",{"_createdAt":14186,"_id":14187,"_rev":13935,"_type":168,"_updatedAt":116,"body":14188,"categories":14240,"introText":14245,"publishedAt":14246,"slug":14247,"tags":14249,"title":14252,"url":14253},"2024-01-05T08:30:57Z","87781819-85d8-47aa-a69a-e41da9e43db6",[14189,14197,14205,14213,14221,14229],{"_key":14190,"_type":173,"children":14191,"markDefs":14196,"style":182},"b4d0db824c83",[14192],{"_key":14193,"_type":177,"marks":14194,"text":14195},"add70691a59c0",[],"Hunting PLC (LSE: HTG) will be giving an investor presentation hosted by Equity Development covering its Trading Update for the financial year ending 31 December 2023 which is to be issued on Wednesday 10 January 2024.",[],{"_key":14198,"_type":173,"children":14199,"markDefs":14204,"style":182},"7627eac8d725",[14200],{"_key":14201,"_type":177,"marks":14202,"text":14203},"f6ac82fa02500",[],"The online event will take place at 1.30p.m. on Thursday 11 January 2024 with Jim Johnson (Chief Executive) and Bruce Ferguson (Finance Director) presenting from the Company.",[],{"_key":14206,"_type":173,"children":14207,"markDefs":14212,"style":182},"f9e1ed220b5e",[14208],{"_key":14209,"_type":177,"marks":14210,"text":14211},"999259934d100",[],"Hunting is a global precision engineering group that provides equipment to high-value end markets including oil and gas, aviation, commercial space, medical and power generation sectors. It is also seeking to develop its presence in the energy transition sub-sectors of geothermal and carbon capture, which are complementary markets to Hunting’s existing energy-related product portfolio.",[],{"_key":14214,"_type":173,"children":14215,"markDefs":14220,"style":182},"81ab5c56ddd1",[14216],{"_key":14217,"_type":177,"marks":14218,"text":14219},"04344ff856500",[],"The webinar is open to all existing and potential shareholders. Questions can be submitted during the presentation to be addressed at the end, or can be sent before the event to info@equitydevelopment.co.uk",[],{"_key":14222,"_type":173,"children":14223,"markDefs":14228,"style":182},"3306659a65fb",[14224],{"_key":14225,"_type":177,"marks":14226,"text":14227},"b81a48d8679d0",[],"To attend the webinar, please register to via the following link:",[],{"_key":14230,"_type":173,"children":14231,"markDefs":14237,"style":182},"0da333820fdb",[14232],{"_key":14233,"_type":177,"marks":14234,"text":14236},"6f3071a5c00d0",[14235],"2e0f327e3de1","Register here",[14238],{"_key":14235,"_type":138,"href":14239},"https:\u002F\u002Fwww.equitydevelopment.co.uk\u002Fnews-and-events\u002Fhunting-investor-presentation-11january2024",[14241,14243],{"_key":14242,"_ref":1713,"_type":141},"8026e19e48a0",{"_key":14244,"_ref":5404,"_type":141},"1d14ae430c2c","Hunting PLC will be giving an investor presentation covering its Trading Update for the financial year ending 31 December 2023 ","2024-01-05T08:28:22.786Z",{"_type":9,"current":14248},"investor-presentation-on-11-january-2024",[14250],{"_key":14251,"_ref":7180,"_type":141},"bd9cdd607274","Investor Presentation on 11 January 2024","\u002Fnews\u002Finvestor-presentation-on-11-january-2024",{"_createdAt":14255,"_id":14256,"_rev":12752,"_type":168,"_updatedAt":116,"categories":14257,"content":14260,"introText":14380,"publishedAt":14381,"slug":14382,"title":14384,"url":14385},"2024-02-29T19:21:35Z","ee9f8dbf-de8e-448a-9cc1-496ab4dfff3c",[14258],{"_key":14259,"_ref":9905,"_type":141},"7f0a4a8c6255",[14261,14267,14280,14285,14300,14305,14320,14325,14340,14345,14360,14365],{"_key":14262,"_type":6777,"cta":14263,"subHeading":14264,"title":14265,"video":14266},"e1f94694c426",{"_type":144,"showCTA":7},"A Career Journey at Hunting","Thriving in a Culture of Excellence","https:\u002F\u002Fyoutu.be\u002FYShNrSo1eGA",{"_key":14268,"_type":193,"body":14269,"cta":14278,"introText":14279,"subHeading":14264,"title":14265},"6997ffc1dac033e47906c4669e2addf7",[14270],{"_key":14271,"_type":173,"children":14272,"markDefs":14277,"style":182},"3e13a46f4fa9",[14273],{"_key":14274,"_type":177,"marks":14275,"text":14276},"4be2dd6aa1930",[],"\"I'm extremely proud to work for this company,\" Jim Johnson, Hunting CEO, affirms, capturing the sentiment shared by many at Hunting. For them, Hunting isn't just a workplace; it's a nurturing environment that fosters personal and professional growth. The opportunities to excel are abundant, and the support of colleagues is unwavering, creating a sense of belonging that transcends the typical employer-employee dynamic.\n\n\"The culture is unmatched,\" another voice echoes, emphasizing the sense of community that permeates every aspect of Hunting's operations. Here, individuals aren't just colleagues; they're family. Together, they strive for excellence, united by a common goal to be the best in their respective fields.\n\n\"What makes us the best is our commitment to excellence,\" a voice asserts, underscoring Hunting's unwavering dedication to upholding the highest standards in everything they do. From the products they deliver to the services they provide, excellence is non-negotiable—a principle that guides every decision and action within the organization.\n\nAs the voices intertwine, a narrative of gratitude and fulfillment emerges. \"They've treated me well,\" one shares, reflecting on decades of loyalty and mutual respect. For them, Hunting isn't just a company; it's a home—a place where ideas are embraced, and success is shared.\n\nIn conclusion, the collective voice of Hunting resonates with pride, gratitude, and a shared commitment to excellence. Through its people and its culture, Hunting has carved a legacy of success—one that continues to inspire and uplift all who are fortunate enough to be a part of it.",[],{"_type":144,"showCTA":7},"Reflecting on the rich tapestry of Hunting's history, it becomes evident that the company's greatest asset lies in its people. This sentiment echoes profoundly through the experiences of individuals like those at Hunting, who find fulfillment, growth, and camaraderie within its walls. In a heartfelt testament to the company's ethos, voices from within the organization share their unwavering pride and commitment to excellence.",{"_key":14281,"_type":6777,"cta":14282,"title":14283,"video":14284},"57f7bbb1fdae",{"_type":144,"showCTA":7},"A Legacy of Loyalty: 41 Years of Dedication at Hunting","https:\u002F\u002Fyoutu.be\u002Fkvc6s08DE40",{"_key":14286,"_type":193,"body":14287,"cta":14296,"introText":14297,"subHeading":14298,"title":14299},"d67b68ff7c845e4bb163aa83b762bbe2",[14288],{"_key":14289,"_type":173,"children":14290,"markDefs":14295,"style":182},"054122aa4d37",[14291],{"_key":14292,"_type":177,"marks":14293,"text":14294},"c3f0f2d058280",[],"\"My name is Demetrius Phoenix,\" he begins, his voice resonating with the wisdom of experience. A fixture at Hunting since 1980, Demetrius's journey began fresh out of high school, marking the beginning of a lifelong commitment to the company. Reflecting on his remarkable tenure, Demetrius expresses his intent to retire from Hunting, a decision rooted in gratitude and mutual respect. \"It's been a great company,\" he affirms. \"They've treated me well, and I try to treat them well.\" Central to Hunting's ethos is a steadfast commitment to safety—a value Demetrius holds dear. \"Hunting's number one goal is to keep everyone safe,\" he emphasizes. Beyond professional duties, it's a shared responsibility to ensure every member of the team returns home to their loved ones, unharmed. Pride permeates every aspect of Demetrius's work. \"We take pride in what we do,\" he declares. With meticulous attention to detail, Demetrius and his team strive for perfection, ensuring that every product leaving their facility meets the highest standards of quality and reliability. As the music fades, Demetrius leaves a profound message of dedication and gratitude: \"We are Hunting.\" It's not just a company; it's a family united by a common purpose and shared values. In summary, Demetrius Phoenix's 41-year journey at Hunting embodies the company's legacy of loyalty, integrity, and commitment to excellence. As the Shipping and Receiving Supervisor, Demetrius has played an integral role in upholding Hunting's values, ensuring its continued success and impact in the industry.",[],{"_type":144,"showCTA":7},"In the storied history of Hunting, Demetrius Phoenix stands as a testament to loyalty and dedication, serving as the Shipping and Receiving Supervisor for over four decades. With a career spanning generations, Demetrius shares his profound connection with Hunting and the values that have shaped his journey.","41 Years of Dedication at Hunting","A Legacy of Loyalty",{"_key":14301,"_type":6777,"cta":14302,"title":14303,"video":14304},"910c431e0e7e",{"_type":144,"showCTA":7},"Engineering Excellence: Nurturing Growth at Hunting's Milford Facility","https:\u002F\u002Fyoutu.be\u002FhelBCNi51KY",{"_key":14306,"_type":193,"body":14307,"cta":14316,"introText":14317,"subHeading":14318,"title":14319},"8ddfad12d6275dfacc661b4388691e8d",[14308],{"_key":14309,"_type":173,"children":14310,"markDefs":14315,"style":182},"b73ccf62553c",[14311],{"_key":14312,"_type":177,"marks":14313,"text":14314},"b118a5865e7f0",[],"\"My name is Lexi Fischer,\" she begins. As a ballistics engineer, Lexi is at the forefront of diverse projects spanning Hunting's product lines, from power charges to military and defense initiatives. Hunting's product portfolio extends across a broad spectrum, from the depths of the Earth to the expanses of space, reflecting the dynamic nature of the company. Reflecting on her tenure, Lexi expresses profound pride in being part of the Hunting family. \"I'm very proud to work for Hunting,\" she declares. \"The culture is unmatched, and the ability to grow is unparalleled.\" In the nurturing environment cultivated by Hunting, Lexi has witnessed not only her own personal and professional growth but also that of her colleagues—a testament to the company's commitment to fostering talent and potential. Central to Lexi's appreciation of Hunting is the sense of community that permeates the workplace. \"It's a great place to work,\" she affirms, underscoring the camaraderie and support that define the Hunting experience. In an environment where collaboration thrives, employees are empowered to reach new heights of achievement and innovation. In summary, Lexi Fischer's journey as a ballistics engineer at Hunting's Milford facility exemplifies the company's commitment to excellence, growth, and community.",[],{"_type":144,"showCTA":7},"Lexi Fischer stands with four years of dedicated service at Hunting's Milford, Texas facility, a hub for innovation and growth in ballistics and energetics. Lexi shares her journey, highlighting the unique culture and opportunities for personal and professional development at Hunting.","Nurturing Growth at Hunting's Milford Facility","Engineering Excellence",{"_key":14321,"_type":6777,"cta":14322,"title":14323,"video":14324},"d464c55e9d6f",{"_type":144,"showCTA":7},"Nurturing Success: A Career Perspective at Hunting PLC","https:\u002F\u002Fyoutu.be\u002Fx9rwUIpZA9E",{"_key":14326,"_type":193,"body":14327,"cta":14336,"introText":14337,"subHeading":14338,"title":14339},"7b4bf155629c37c80a194208d7b40fd4",[14328],{"_key":14329,"_type":173,"children":14330,"markDefs":14335,"style":182},"937ca7dee97d",[14331],{"_key":14332,"_type":177,"marks":14333,"text":14334},"45bb572eedfe0",[],"\"I'm Chris Baris,\" he introduces himself, setting the stage for a dialogue centered on his enduring journey with Hunting PLC. With over two decades of experience, Chris embodies the company's ethos of longevity and dedication. \"Proud to work for Hunting,\" Chris states emphatically. \"It's a company that genuinely cares about the individual successes of its employees.\" Beyond the bottom line, Hunting PLC places a premium on the personal growth and accomplishments of its workforce, fostering a culture of support and empowerment. Chris highlights Hunting PLC's unwavering commitment to quality as a cornerstone of its operations. \"The quality of products and services we deliver to the market is paramount,\" he asserts. It's a sentiment echoed throughout the organization, reinforcing Hunting PLC's reputation for reliability and excellence. Reflecting on his extensive tenure, Chris observes the evolution of Hunting PLC while noting the consistency of its culture and philosophy. \"The culture, ethos, and philosophy have remained steadfast,\" he reflects. Amidst change, Hunting PLC remains rooted in its values, driving success through a genuine interest in its people and customers. Looking ahead, Chris expresses his aspirations to continue contributing to the company's success for years to come. \"Hope to be able to contribute to the success of the company for many years,\" he shares, underscoring his dedication to Hunting PLC's mission and vision. As the conversation draws to a close, the essence of Hunting PLC is encapsulated in a single declaration: \"We are Hunting.\" It's not just a company; it's a community united by a shared commitment to excellence, integrity, and collective success. In summary, Chris Baris's career journey at Hunting PLC exemplifies the company's dedication to employee growth, customer satisfaction, and unwavering quality. As the Group Treasurer, Chris plays a pivotal role in upholding the values that define Hunting PLC, ensuring its continued success and legacy in the industry.",[],{"_type":144,"showCTA":7},"In the realm of financial management at Hunting PLC stands Chris Baris, the Group Treasurer, offering insights into the company's ethos, culture, and unwavering commitment to excellence. In a reflective discourse, Chris unveils the core values that make working at Hunting PLC a source of pride and fulfillment.","A Career Perspective at Hunting PLC","Nurturing Success",{"_key":14341,"_type":6777,"cta":14342,"title":14343,"video":14344},"a5d7c7cba5d1",{"_type":144,"showCTA":7},"Crafting Excellence: A Career Journey at Hunting's Subsea Facility in Spring, TX","https:\u002F\u002Fyoutu.be\u002FUiQNfGeE7Ew",{"_key":14346,"_type":193,"body":14347,"cta":14356,"introText":14357,"subHeading":14358,"title":14359},"c604da56d7a6d07578f407642079ca28",[14348],{"_key":14349,"_type":173,"children":14350,"markDefs":14355,"style":182},"84799ed6cae6",[14351],{"_key":14352,"_type":177,"marks":14353,"text":14354},"9f1dad76f2cb0",[],"\"Hi, my name is Marsha Preston,\" she begins, setting the tone for a conversation filled with insights into the Subsea at Spring, TX commitment to quality and excellence. With pride evident in her voice, Marsha delves into the core aspects of their operations. \"At Subsea in Spring, we deal with large-scale products,\" Marsha explains. \"This necessitates robust Quality Systems and adherence to strict policies and procedures.\" It's not just about meeting standards; it's about surpassing them with thorough checks and meticulous attention to detail. Marsha emphasizes the importance of getting things right the first time. \"We check, and we check, and we check,\" she states firmly. \"Every member of our team ensures that they do everything they can to deliver excellence from the outset.\" This dedication to precision is ingrained in every aspect of SubC Springs' culture. What sets the Subsea facility in Spring, TX apart is its collaborative spirit. Marsha speaks highly of the team's synergy, rooted in shared investment and genuine care for the products they deliver. \"Everyone here is invested, engaged, and truly cares about the product,\" Marsha affirms. It's this collective dedication that fuels Subsea Springs' success. Customer satisfaction is paramount in the Subsea division. \"We like to make sure that our customers are satisfied,\" Marsha asserts. \"Delivering the best quality product is not just a goal; it's our commitment.\" This customer-centric approach underscores Subsea Springs' ethos of excellence and reliability. As Marsha concludes, the music fades, leaving behind a sense of pride and purpose. At Hunting's Subsea, crafting excellence isn't just a job; it's a shared passion that drives every member of the team. In summary, Marsha Preston's career journey at SubC Springs epitomizes the company's dedication to quality, collaboration, and customer satisfaction. As the General Manager, Marsha plays a pivotal role in upholding the highest standards of excellence, ensuring that Subsea in Spring, TX remains a beacon of quality in the industry.",[],{"_type":144,"showCTA":7},"In the heart of Subsea in Spring, TX, Marsha Preston serves as the General Manager, orchestrating operations across the machine shop, welding shop, hydro testing facility, and a dedicated support staff. In a candid discussion, Marsha sheds light on the intricacies of her role and what makes SubC Springs stand out in the industry.","A Career Journey at Hunting's Subsea Facility in Spring, TX","Crafting Excellence",{"_key":14361,"_type":6777,"cta":14362,"title":14363,"video":14364},"f995b19b2994",{"_type":144,"showCTA":7},"Upholding Quality Standards: A Career at Hunting Energy Services","https:\u002F\u002Fyoutu.be\u002FIjDml-jexko",{"_key":14366,"_type":193,"body":14367,"cta":14376,"introText":14377,"subHeading":14378,"title":14379},"7c6efadf8e84807969ac0b15862ffb31",[14368],{"_key":14369,"_type":173,"children":14370,"markDefs":14375,"style":182},"c8af5b86c34a",[14371],{"_key":14372,"_type":177,"marks":14373,"text":14374},"371b2dbf60220",[],"\"My name is Jared Paris,\" he begins, \"and I'm the Quality Assurance Manager here at Sam Houston Parkway facility.\" In his concise introduction, Jared lays the foundation for his integral role within the company. \"At Hunting, we uphold the highest of standards,\" Jared emphasizes. \"Our pursuit for perfection is unwavering, driving us to continually raise the bar in quality assurance.\" This commitment to excellence isn't just a mantra; it's embedded in the company's ethos, shaping every aspect of their operations. Reflecting on his journey with Hunting, Jared speaks with genuine pride. \"I'm very proud to work for Hunting because it starts with a team,\" he notes. \"Our commitment to the team and the job is what makes us successful.\" Indeed, it's the collective effort of dedicated professionals like Jared that propels Hunting towards its goals. A key measure of success for any company lies in customer satisfaction, and Jared understands this well. \"Our customer retention is very high because they are very happy with our quality of work,\" he asserts. It's not just about meeting expectations but exceeding them consistently, fostering long-term relationships built on trust and reliability. Jared's passion for quality extends beyond mere satisfaction; it opens doors to new opportunities. \"Our reputation for excellence attracts other customers,\" he explains. \"They come to see what we can provide, further expanding our reach and impact in the industry.\" As the conversation draws to a close, Jared leaves a lasting impression of dedication and pride in his work. \"We are Hunting,\" he declares with conviction, embodying the spirit of a company driven by its commitment to quality and unwavering pursuit of perfection. In conclusion, Jared Paris's career at Hunting Energy Services exemplifies the values of dedication, excellence, and teamwork. His role as the Quality Assurance Manager not only ensures the highest standards of product quality but also contributes to the company's reputation and success in the industry. Working at Hunting isn't just a job; it's a commitment to excellence that resonates in every aspect of their operations.",[],{"_type":144,"showCTA":7},"At the bustling Sam Houston Parkway facility of Hunting Energy Services, Jared Paris stands as the Quality Assurance Manager, spearheading the meticulous upkeep of product quality. With a career dedicated to ensuring excellence, Jared's role is pivotal in meeting customer requirements and industry benchmarks. In a recent conversation, he shared insights into his role and why he takes immense pride in working for Hunting.","A Career at Hunting Energy Services","Upholding Quality Standards","Thriving in a Culture of Excellence: Career Journies at Hunting","2023-12-25T19:13:00.000Z",{"_type":9,"current":14383},"hunting-careers-case-studies","Hunting Careers Case Studies","\u002Fnews\u002Fhunting-careers-case-studies",{"_createdAt":14387,"_id":14388,"_rev":112,"_type":168,"_updatedAt":116,"categories":14389,"content":14392,"downloads":14456,"mainImage":14462,"publishedAt":14471,"slug":14472,"tags":14474,"title":14477,"url":14478},"2023-10-18T14:06:45Z","03ff675e-c54d-480c-a35c-470327f1af26",[14390],{"_key":14391,"_ref":9905,"_type":141},"f97abeb9aaae",[14393,14406,14419,14442],{"_key":14394,"_type":193,"body":14395,"cta":14404,"title":14405},"c352c6cedeb1",[14396],{"_key":14397,"_type":173,"children":14398,"markDefs":14403,"style":182},"739944601a03",[14399],{"_key":14400,"_type":177,"marks":14401,"text":14402},"a75c17eb5dbc0",[],"Titanium Tubing Technology Ltd. was tasked to find an electronic selective firing system that would allow them to efficiently deploy multiple perforating guns on coiled tubing in a single trip to reduce cost.",[],{"_type":144,"showCTA":7},"Customer Objective",{"_key":14407,"_type":193,"body":14408,"cta":14417,"title":14418},"0280d9010a31",[14409],{"_key":14410,"_type":173,"children":14411,"markDefs":14416,"style":182},"0397fec73e0e",[14412],{"_key":14413,"_type":177,"marks":14414,"text":14415},"47f74b8b9af00",[],"After review of all companies that offer this technology, the decision was made to utilize Hunting’s RF-Safe Control Fire Assembly perforating system for this well. The system utilizes the latest in electronic switch technology to create a reliable perforating system completely safe from RF, ESD, stray voltage and line voltage up to 500 VDC. Each Control Fire switch provides real-time confirmation along with skip-over capabilities throughout the operation.",[],{"_type":144,"showCTA":7},"Select Fire Perforating Technology",{"_key":14420,"_type":7274,"cta":14421,"listItems":14422,"title":14441,"type":2555,"width":7291},"55660b2d0c00",{"_type":144,"showCTA":7},[14423,14426,14429,14432,14435,14438],{"_key":14424,"_type":7279,"title":14425},"82a1964b9ec5","Automation Capabilities",{"_key":14427,"_type":7279,"title":14428},"a03c4a963d0c","Operational confirmation",{"_key":14430,"_type":7279,"title":14431},"da10bf524f10","Capable of deploying 100+ guns in a single run",{"_key":14433,"_type":7279,"title":14434},"d1d11c7fd0b7","Increased reliability and efficiency over mechanical pressure switches",{"_key":14436,"_type":7279,"title":14437},"f304e0a20eae","Real-time shot verification along with a voltage\u002Fcurrent plot",{"_key":14439,"_type":7279,"title":14440},"c80c74505b4d","Immune to 500 VDC","ControlFire Features",{"_key":14443,"_type":193,"body":14444,"cta":14453,"introText":14454,"title":14455},"118bfa189a21",[14445],{"_key":14446,"_type":173,"children":14447,"markDefs":14452,"style":182},"01afb587eada",[14448],{"_key":14449,"_type":177,"marks":14450,"text":14451},"ec6c437e751a0",[],"Hunting’s Control Fire perforating system enabled Titanium Tubing Technology Ltd. to reduce cost by efficiently doing in one run what would have taken two or three additional runs using a competitor’s system. Hunting’s Titan division continues to be the leader in the select fire market for both mechanical and electronic switch technology.",[],{"_type":144,"showCTA":7},"Titanium Tubing Technology Ltd. set the Canadian e-coil perforating record by successfully initiating 52 ControlFire perforating guns in a single run.","Result",[14457],{"_key":14458,"_type":10023,"asset":14459,"title":14461},"3ed91c06c51d",{"_ref":14460,"_type":141},"file-686d0c975e037914fd57537bf76dbe1ecbec505f-pdf","Canadian Record",{"_type":146,"asset":14463,"crop":14465,"hotspot":14466},{"_ref":14464,"_type":141},"image-b7e581dba91f0ad653644f7443e56134bc6f7832-6000x3375-png",{"_type":5643,"bottom":5644,"left":5644,"right":5644,"top":5644},{"_type":5646,"height":14467,"width":14468,"x":14469,"y":14470},0.47594208550675277,0.31164383561643827,0.22602739726027377,0.521327938380539,"2023-10-18T13:50:45.975Z",{"_type":9,"current":14473},"canadian-e-coil-perforating-record",[14475],{"_key":14476,"_ref":13906,"_type":141},"606b5fc16917","Canadian E-Coil Perforating Record","\u002Fnews\u002Fcanadian-e-coil-perforating-record",{"_createdAt":14480,"_id":14481,"_rev":5417,"_type":168,"_updatedAt":116,"categories":14482,"content":14485,"mainImage":14641,"publishedAt":14650,"slug":14651,"tags":14653,"title":14660,"url":14661},"2023-10-03T21:54:38Z","3d3351f2-76b1-4e41-bc06-6771c4d88ee3",[14483],{"_key":14484,"_ref":10429,"_type":141},"4a0212c76b24",[14486,14628],{"_key":14487,"_type":193,"body":14488,"cta":14625,"introText":14626,"title":14627},"6976d62a3495",[14489,14497,14505,14513,14521,14529,14537,14545,14553,14561,14569,14577,14585,14593,14601,14609,14617],{"_key":14490,"_type":173,"children":14491,"markDefs":14496,"style":182},"5df445105ede",[14492],{"_key":14493,"_type":177,"marks":14494,"text":14495},"92b58f29bb910",[179],"Can you tell me more about the new facility?",[],{"_key":14498,"_type":173,"children":14499,"markDefs":14504,"style":182},"4dd0bed39731",[14500],{"_key":14501,"_type":177,"marks":14502,"text":14503},"ab140e4e9db10",[],"The new facility will be situated within the manufacturing zone of Jebel Ali Freezone (JAFZA). The facility will be a purpose built on a 14,000 SQM plot, where we will construct a 3700 SQM custom built warehouse, yard and office space that will focus on the manufacture of Well Intervention and Surface Well Testing Products while continuing to support OOR operations and all other Hunting product lines in the region. We expect the site will be fully operational by Q3\u002F2024.",[],{"_key":14506,"_type":173,"children":14507,"markDefs":14512,"style":182},"5497359a14b6",[14508],{"_key":14509,"_type":177,"marks":14510,"text":14511},"ca2a477f33120",[],"The facility will bring additional capacity and capabilities that will allow Hunting to increase manufacturing, operational through put (output?) and after sales support ultimately providing a more efficient and higher level of service delivery to our customers in the region.",[],{"_key":14514,"_type":173,"children":14515,"markDefs":14520,"style":182},"c01f7a67531f",[14516],{"_key":14517,"_type":177,"marks":14518,"text":14519},"c5a917d035260",[179],"What does this facility mean for customers?",[],{"_key":14522,"_type":173,"children":14523,"markDefs":14528,"style":182},"1046ca4fa62c",[14524],{"_key":14525,"_type":177,"marks":14526,"text":14527},"e02e4d841a730",[],"The new facility will enable Hunting to expand on our existing Well Intervention and Organic Oil Recovery product ranges that we currently supply from our UAE facility, while also allowing us to increase capacity and provide regional bases for other product lines. We will be adding the manufacture of Surface Well Testing products to our manufacturing capabilities which will allow us to support our clients across the MENA region. Having these products manufactured in the region will significantly reduce lead times for customers.",[],{"_key":14530,"_type":173,"children":14531,"markDefs":14536,"style":182},"c8c658d9e505",[14532],{"_key":14533,"_type":177,"marks":14534,"text":14535},"1d73052cfa8d0",[],"As part of our growth plan, we're expanding our SWT product fleet for rental, including servicing and aftersales support. This regional hub will enhance our service to new and existing EMEA customers.",[],{"_key":14538,"_type":173,"children":14539,"markDefs":14544,"style":182},"0a06421cc0c8",[14540],{"_key":14541,"_type":177,"marks":14542,"text":14543},"379b547562200",[179],"How does the opening of the new facility align with the company’s growth strategy?",[],{"_key":14546,"_type":173,"children":14547,"markDefs":14552,"style":182},"9edc9ac35d55",[14548],{"_key":14549,"_type":177,"marks":14550,"text":14551},"d72a8104c23a0",[],"The Middle East is a key strategic growth area for the company and the construction of the new facility in Dubai, plus the expansion plans in Saudi Arabia, demonstrate the commitment we have to the MENA region as part of our recently announced 2030 vision. [Hunting] regards the Middle East region as an important part of the company’s future growth, and all product lines have objectives to increase activity in the region. The new flagship facility in Dubai will lay the foundation for that growth.",[],{"_key":14554,"_type":173,"children":14555,"markDefs":14560,"style":182},"cf9a7c196c8e",[14556],{"_key":14557,"_type":177,"marks":14558,"text":14559},"bd7b4cbc0a800",[179],"What are our environmental commitments with the new facility?",[],{"_key":14562,"_type":173,"children":14563,"markDefs":14568,"style":182},"e832a4195f36",[14564],{"_key":14565,"_type":177,"marks":14566,"text":14567},"936f29fb49890",[],"The facility has been designed specifically with a number of sustainability and carbon reducing features that will ensure we are providing a safe and comfortable working environment for our employees as well as building a facility that is focuses on reducing water and electricity consumption.",[],{"_key":14570,"_type":173,"children":14571,"markDefs":14576,"style":182},"90a45bf3cc1e",[14572],{"_key":14573,"_type":177,"marks":14574,"text":14575},"76d28b46db120",[],"Key Features:",[],{"_key":14578,"_type":173,"children":14579,"level":955,"listItem":2555,"markDefs":14584,"style":182},"98b8abba7e76",[14580],{"_key":14581,"_type":177,"marks":14582,"text":14583},"4883c1e3bf600",[],"Solar Panels will be installed on the roofline which in turn will be returned to the grid.",[],{"_key":14586,"_type":173,"children":14587,"level":955,"listItem":2555,"markDefs":14592,"style":182},"2f5c9c263c8a",[14588],{"_key":14589,"_type":177,"marks":14590,"text":14591},"9eb0aff0ef650",[],"Fully Airconditioned Warehouse to ensure our employees are working at a comfortable temperature.",[],{"_key":14594,"_type":173,"children":14595,"level":955,"listItem":2555,"markDefs":14600,"style":182},"f3856f7612d0",[14596],{"_key":14597,"_type":177,"marks":14598,"text":14599},"3d5dc4fe3ce90",[],"Atmospheric water generation system that will be reused within the facility for air conditioning and water supply.",[],{"_key":14602,"_type":173,"children":14603,"level":955,"listItem":2555,"markDefs":14608,"style":182},"66d021c75554",[14604],{"_key":14605,"_type":177,"marks":14606,"text":14607},"1b3cfa7cf8580",[],"Grey Water Treatment Plant.",[],{"_key":14610,"_type":173,"children":14611,"markDefs":14616,"style":182},"ac47b14e04bf",[14612],{"_key":14613,"_type":177,"marks":14614,"text":14615},"2c27ee53f24e0",[179],"How will the new facility support the economy and community?",[],{"_key":14618,"_type":173,"children":14619,"markDefs":14624,"style":182},"ed075e65c802",[14620],{"_key":14621,"_type":177,"marks":14622,"text":14623},"7528cbe5460b0",[],"Due to the expansion, we will need to staff up accordingly across many technical disciplines and plan to increase our headcount by at least 50% over the next two years. Hunting is a great place to work and provides a secure and supportive workplace in our community. Our culture encourages collaboration, growth, and work-life balance. As an employer, we prioritise the well-being and professional development of our employees, ensuring they feel valued and motivated.",[],{"_type":144,"showCTA":7},"Hunting's operations in the Middle East are currently evolving; transitioning to a larger, custom-built, and more efficient facility within Dubai. This strategic move is not only intended to accommodate the growing manufacturing needs of the well test and process systems business but also to support the existing regional product lines such as Perforating Systems, Well Intervention Equipment, OCTG, and Organic Oil Recovery. It will position Hunting to capitalise on the growing opportunities in the Middle East and deliver on its growth plans for the region.\n\nToday we speak with Graham Goodall, the General Manager of the Middle East Region, who will be sharing more details about the new facility and the distinctive value it aims to bring to the region and its customers.","Interview with Graham Goodall on Dubai Facility Expansion ",{"_key":14629,"_type":1717,"cta":14630,"image":14631},"e0bbddca13aa",{"_type":144,"showCTA":7},{"_type":146,"alt":14632,"asset":14633,"crop":14635,"hotspot":14636},"General Manager Graham Goodall discusses Dubai Facility expansion",{"_ref":14634,"_type":141},"image-22b2ece26542b72708948484c71432494c1c7f1a-1379x923-png",{"_type":5643,"bottom":5644,"left":5644,"right":5644,"top":5644},{"_type":5646,"height":14637,"width":14638,"x":14639,"y":14640},0.6314269918299652,0.36986301369862884,0.5376712328767119,0.3157134959149826,{"_type":146,"asset":14642,"crop":14644,"hotspot":14645},{"_ref":14643,"_type":141},"image-f699a5617815e3ac3f92e146da7a8361bf9d7043-1360x837-png",{"_type":5643,"bottom":5644,"left":5644,"right":5644,"top":5644},{"_type":5646,"height":14646,"width":14647,"x":14648,"y":14649},0.5378104465976159,0.986301369863014,0.493150684931507,0.26890522329880795,"2023-10-03T14:16:56.573Z",{"_type":9,"current":14652},"adipec-2023-hunting-s-strategic-expansion-in-dubai-insights-from-graham-goodall",[14654,14657],{"_key":14655,"_ref":14656,"_type":141},"16ec9b0d45e1","47469ef5-d3a4-4b23-9f73-e916f0c195c8",{"_key":14658,"_ref":14659,"_type":141},"1547dca0acb8","23c4d66a-2a31-4916-a0c5-09dfe56f3a74","ADIPEC 2023 - Hunting's Strategic Expansion in Dubai: Insights from Graham Goodall","\u002Fnews\u002Fadipec-2023-hunting-s-strategic-expansion-in-dubai-insights-from-graham-goodall",{"_createdAt":14663,"_id":14664,"_rev":8787,"_type":168,"_updatedAt":116,"body":14665,"categories":14797,"introText":14802,"publishedAt":14803,"slug":14804,"title":14806,"url":14807},"2023-09-18T13:32:39Z","70e7e91c-04d0-4a96-a8d1-41111f023720",[14666,14678,14686,14702,14710,14718,14734,14742,14758,14766,14774,14781,14789],{"_key":14667,"_type":173,"children":14668,"markDefs":14677,"style":182},"2f82f98bdec3",[14669,14673],{"_key":14670,"_type":177,"marks":14671,"text":14672},"acbb754a728b0",[179],"Nashik\u002FNew Delhi\u002FMumbai, September 18, 2023:",{"_key":14674,"_type":177,"marks":14675,"text":14676},"acbb754a728b1",[]," In line with Indian Government’s vision of AatmaNirbhar Bharat, Jindal Hunting Energy Services Limited, a Joint Venture between global giants Jindal SAW Ltd. & Hunting Energy Services Ltd. proudly announces the grand opening of their facility collocated at the seamless tube facility of Jindal SAW Ltd. at Nashik, Maharashtra today.",[],{"_key":14679,"_type":173,"children":14680,"markDefs":14685,"style":182},"4402e088b718",[14681],{"_key":14682,"_type":177,"marks":14683,"text":14684},"ae0ab0ca88090",[],"The newly launched facility stands as the inaugural and presently sole facility capable of producing and supplying pipes, tubes, and premium connections to the OCTG market within the Indian oil & gas sector. Thus far, all these products had to be imported from other countries, putting a strain on the foreign exchange situation in India. This facility not only supports Indian Oil & Gas industry but also will have huge export potential thereby earning valuable foreign exchange for the country.",[],{"_key":14687,"_type":173,"children":14688,"markDefs":14701,"style":182},"ab5f29772fd5",[14689,14693,14697],{"_key":14690,"_type":177,"marks":14691,"text":14692},"3e970a05dac40",[],"Complementing the team on this stupendous achievement ",{"_key":14694,"_type":177,"marks":14695,"text":14696},"3e970a05dac41",[179],"Mr. P.R. Jindal, the Chairman of Jindal SAW Ltd. ",{"_key":14698,"_type":177,"marks":14699,"text":14700},"3e970a05dac42",[],"expressed his happiness and satisfaction that with this initiative the group will be able to participate in the AatmaNirbhar initiative of the Government of India.",[],{"_key":14703,"_type":173,"children":14704,"markDefs":14709,"style":182},"74781c9eacd9",[14705],{"_key":14706,"_type":177,"marks":14707,"text":14708},"b41141b616010",[],"The facility is envisioned as a 'Center of Excellence’, a unique establishment in this region, offering a comprehensive array of products and services within the OCTG (Oil Country Tubular Goods) sector of the Oil & Gas industry.",[],{"_key":14711,"_type":173,"children":14712,"markDefs":14717,"style":182},"b76b8dc8cbe8",[14713],{"_key":14714,"_type":177,"marks":14715,"text":14716},"748d5f31b36d0",[],"The facility's versatility extends to threading Hunting's premium connections, ranging from 2-3\u002F8” to 20”, and providing Large O.D. Welded Connectors, spanning from 20” to 36”. This comprehensive range encompasses various grades in iron & steel, as well as alloy steel & exotic value-added grades.",[],{"_key":14719,"_type":173,"children":14720,"markDefs":14733,"style":182},"81470d05aa15",[14721,14725,14729],{"_key":14722,"_type":177,"marks":14723,"text":14724},"d3ad6e7d583d0",[179],"Mr. Jim Johnson, CEO, Hunting PLC",{"_key":14726,"_type":177,"marks":14727,"text":14728},"d3ad6e7d583d1",[]," said, ",{"_key":14730,"_type":177,"marks":14731,"text":14732},"d3ad6e7d583d2",[216],"“This is a fantastic milestone, firstly with our strategic partnership with Jindal SAW Ltd back in August 2019 to the realization of the vision developed over the past four years, great progress has been made. Today, both Jindal SAW and Hunting make history, with the opening of the JV’s full-fledged premium OCTG, accessories and manufacturing operations, in support of the Government’s “Make in India” initiative. Hunting will work alongside Jindal SAW to provide the highest standards in quality and services in delivering the best premium OCTG and accessories to our valued customers in India and also abroad. We look forward to introducing more advanced Connection Technology as we progress along. I want to thank and congratulate our partner, Jindal SAW, for the shared vision and commitment on this wonderful and exciting journey to excellence. I am confident that this JV Manufacturing Hub will bring benefits to local O&G industry, and also play a part in India’s Energy Transition”.",[],{"_key":14735,"_type":173,"children":14736,"markDefs":14741,"style":182},"e133d9482384",[14737],{"_key":14738,"_type":177,"marks":14739,"text":14740},"9c71a72b2f360",[],"The facility is set to achieve an annual threading capacity of 70,000 metric tons of OCTG. It will be fully supported by a seamless supply chain, drawing raw materials and inputs from the Jindal SAW facility in Nashik and other locations across the country. This state-of-the-art facility boasts cutting-edge equipment, on par with the best globally, featuring a high degree of automation and sophisticated testing capabilities to guarantee top-quality products that meet the rigorous demands of the oil & gas sector.",[],{"_key":14743,"_type":173,"children":14744,"markDefs":14757,"style":182},"6462faf0b939",[14745,14749,14753],{"_key":14746,"_type":177,"marks":14747,"text":14748},"067a6ad3fc650",[179],"Mr. Daniel Tan, MD, Hunting Asia Pacific Segment",{"_key":14750,"_type":177,"marks":14751,"text":14752},"067a6ad3fc651",[]," added, ",{"_key":14754,"_type":177,"marks":14755,"text":14756},"067a6ad3fc652",[216],"“Both JSAW and Hunting have come a long way, starting from sharing an idea in forging a Strategic Alliance and finally to a fully-fledged JV Manufacturing Hub for premium OCTG and accessories, built from greenfield. With a fully Integrated Supply Chain, i.e the JV Manufacturing Hub built next to Jindal SAW seamless pipe mill, and with easy access to Mumbai port, we provide world-class premium OCTG not only to the rapid growing domestic market in India, but also serve as an important Gateway to the Middle East and Africa market. The JV Manufacturing Hub is truly a One-Stop shop for premium OCTG and accessories for both domestic and international valued customers”.",[],{"_key":14759,"_type":173,"children":14760,"markDefs":14765,"style":182},"e7e6b3486519",[14761],{"_key":14762,"_type":177,"marks":14763,"text":14764},"5e2558a52b160",[179],"About Hunting Energy Services",[],{"_key":14767,"_type":173,"children":14768,"markDefs":14773,"style":182},"9ee47e5128f0",[14769],{"_key":14770,"_type":177,"marks":14771,"text":14772},"b375993cf5ed0",[],"Hunting Energy Services are manufacturers of premium, high end downhole metal tools and components required to extract hydrocarbons across the well construction, completion and intervention stages of the well’s lifecycle. The Company’s broad range of products and associated services spans the lifecycle of the wellbore, irrespective of whether it is intended for oil, gas, onshore or offshore, conventional or unconventional.",[],{"_key":14775,"_type":173,"children":14776,"markDefs":14780,"style":182},"7f5262d9245d",[14777],{"_key":14778,"_type":177,"marks":14779,"text":180},"0d69d1cb56f10",[],[],{"_key":14782,"_type":173,"children":14783,"markDefs":14788,"style":182},"be2a3e1dba1c",[14784],{"_key":14785,"_type":177,"marks":14786,"text":14787},"ccadc9f46d680",[179],"About Jindal SAW Ltd.",[],{"_key":14790,"_type":173,"children":14791,"markDefs":14796,"style":182},"2e8633c0a8db",[14792],{"_key":14793,"_type":177,"marks":14794,"text":14795},"090a704c1fd70",[],"Jindal SAW Ltd. is a leading global manufacturer and supplier of Steel pipe products, fittings and accessories with manufacturing facilities in India, USA, Europe and UAE.They manufacture Seamless Carbon & Alloy Steel pipes and tubes in their state of the art manufacturing facility at Nashik for Casing \u002F Tubing & Line pipe application for the oil and gas sector. They also produce SAW Pipes (Submerged Arc Welded Pipes) for the energy transportation sector and Ductile Iron (DI) pipes & fittings for water and wastewater transportation.",[],[14798,14800],{"_key":14799,"_ref":1713,"_type":141},"e785765fcd79",{"_key":14801,"_ref":5404,"_type":141},"62c534237776","Jindal Hunting Energy Services Ltd. (JHESL) Unveils State-of-the-Art Facility in India","2023-09-18T11:31:37.475Z",{"_type":9,"current":14805},"powering-aatmanirbhar-bharat-of-tomorrow","Powering AatmaNirbhar Bharat of Tomorrow","\u002Fnews\u002Fpowering-aatmanirbhar-bharat-of-tomorrow",{"_createdAt":14809,"_id":14810,"_rev":14811,"_type":168,"_updatedAt":116,"content":14812,"introText":14986,"mainImage":14987,"publishedAt":14990,"slug":14991,"tags":14993,"title":14998,"url":14999},"2023-09-05T22:15:02Z","0737bab8-705f-4a9b-b4ea-320566982438","DBMO57ZIr7O8zFikjHd8T3",[14813,14980],{"_key":14814,"_type":193,"body":14815,"cta":14977,"introText":14978,"title":14979},"d84f2b0707a4",[14816,14825,14832,14844,14852,14859,14870,14890,14897,14907,14915,14922,14931,14947,14954,14962,14969],{"_key":14817,"_type":173,"children":14818,"markDefs":14823,"style":14824},"a3c924bdd1e4",[14819],{"_key":14820,"_type":177,"marks":14821,"text":14822},"acbbea7c8971",[179],"Our ADIPEC booth will feature the following solutions: ",[],"h3",{"_key":14826,"_type":173,"children":14827,"markDefs":14831,"style":182},"9afdc17453c5",[14828],{"_key":14829,"_type":177,"marks":14830,"text":180},"f723b04b1e2a",[],[],{"_key":14833,"_type":173,"children":14834,"markDefs":14840,"style":14843},"67f189c2d8d9",[14835],{"_key":14836,"_type":177,"marks":14837,"text":14839},"587dda968d3b",[216,14838],"eab1f5d6a29b","Perforating and Logging Systems",[14841],{"_key":14838,"_type":138,"href":14842},"https:\u002F\u002Fhuntingplc.com\u002Fproducts-services\u002Fperforating-logging-systems","h4",{"_key":14845,"_type":173,"children":14846,"markDefs":14851,"style":182},"c9395401bef3",[14847],{"_key":14848,"_type":177,"marks":14849,"text":14850},"20d6537c2ac2",[],"Our Perforating and Logging Systems (Titan Division) is renowned for its high-quality precision logging and production instrumentation, as well as its modular perforating systems. Our expertise lies in rapidly manufacturing and delivering safe, industry leading completion solutions that increase flexibility while reducing the need for onsite handling and eliminating common causes of misruns. This leads to enhanced productivity and safety in oil and gas operations. Our high-temperature perforating systems and instrumentation are also seeing a high rate of adoption in the growing number of geothermal well completion operations.",[],{"_key":14853,"_type":173,"children":14854,"markDefs":14858,"style":182},"b5fc645acdb6",[14855],{"_key":14856,"_type":177,"marks":14857,"text":180},"3c1ffaf775dc",[],[],{"_key":14860,"_type":173,"children":14861,"markDefs":14867,"style":14843},"9cf76931cbd6",[14862],{"_key":14863,"_type":177,"marks":14864,"text":14866},"27f85bd72079",[216,14865],"ba4cc9d0ee5e","Well Intervention",[14868],{"_key":14865,"_type":138,"href":14869},"https:\u002F\u002Fhuntingplc.com\u002Fproducts-services\u002Fwell-intervention-equipment",{"_key":14871,"_type":173,"children":14872,"markDefs":14877,"style":182},"7209514d62bf",[14873],{"_key":14874,"_type":177,"marks":14875,"text":14876},"db7a289af4ce",[],"The Well Intervention division offers an array of services designed to optimize well performance over its entire lifecycle. From well testing diagnostics, to pressure control, to maintenance and slickline tools, we provide comprehensive solutions that help our clients maintain peak performance.",[14878,14881,14884,14887],{"_key":14879,"_type":138,"href":14880},"c672c4b013dd","https:\u002F\u002Fhuntingplc.com\u002F",{"_key":14882,"_type":138,"href":14883},"62492f828c77","https:\u002F\u002Fwww.crunchbase.com\u002Forganization\u002Fhunting-energy-services-electronics-division",{"_key":14885,"_type":138,"href":14886},"4b9dc8a2221b","https:\u002F\u002Fwww.ampliz.com\u002Fcompany\u002Fhunting-energy-services-dearborn-division\u002F83130916",{"_key":14888,"_type":138,"href":14889},"3ac46d8ad963","https:\u002F\u002Fwww.hartenergy.com\u002Fcompanies\u002Fhunting-energy-services-lp",{"_key":14891,"_type":173,"children":14892,"markDefs":14896,"style":182},"61e3d03d7816",[14893],{"_key":14894,"_type":177,"marks":14895,"text":180},"5fa702b51dcb",[],[],{"_key":14898,"_type":173,"children":14899,"markDefs":14905,"style":14843},"43040a0dc5cf",[14900],{"_key":14901,"_type":177,"marks":14902,"text":14904},"f39234909f3f",[216,14903],"c48ac3f89811","Connections Technology ",[14906],{"_key":14903,"_type":138,"href":11138},{"_key":14908,"_type":173,"children":14909,"markDefs":14914,"style":182},"c317dc89603f",[14910],{"_key":14911,"_type":177,"marks":14912,"text":14913},"830472439318",[],"Our Connections and Oil Country Tubular Goods (OCTG) divisions are instrumental in ensuring seamless integration of equipment and systems in oil and gas operations. We pride ourselves on delivering reliable and efficient solutions that facilitate smooth operations.",[],{"_key":14916,"_type":173,"children":14917,"markDefs":14921,"style":182},"ee3fe5f33e56",[14918],{"_key":14919,"_type":177,"marks":14920,"text":180},"296d709da1e4",[],[],{"_key":14923,"_type":173,"children":14924,"markDefs":14929,"style":14843},"ed7181532892",[14925],{"_key":14926,"_type":177,"marks":14927,"text":1501},"4d2d223648d9",[216,14928],"1fff7f9ac14e",[14930],{"_key":14928,"_type":138,"href":7984},{"_key":14932,"_type":173,"children":14933,"markDefs":14938,"style":182},"5b4bb23e80d9",[14934],{"_key":14935,"_type":177,"marks":14936,"text":14937},"1a4b0fbf6466",[],"Our Organic Oil Recovery (OOR) division utilizes advanced technology to increase efficiency and maximize production and extraction in existing wells. OOR specializes in providing solutions that are not only effective but also environmentally friendly.Commitment to Environmental Sustainability",[14939,14941,14943,14945],{"_key":14940,"_type":138,"href":14880},"9ea3afebf49f",{"_key":14942,"_type":138,"href":14883},"c8c36f54671f",{"_key":14944,"_type":138,"href":14886},"d344d1408174",{"_key":14946,"_type":138,"href":14889},"5e95a4f488e8",{"_key":14948,"_type":173,"children":14949,"markDefs":14953,"style":182},"eae4373f12ff",[14950],{"_key":14951,"_type":177,"marks":14952,"text":180},"730324ca3f04",[],[],{"_key":14955,"_type":173,"children":14956,"markDefs":14961,"style":182},"ba407a650b83",[14957],{"_key":14958,"_type":177,"marks":14959,"text":14960},"9403b8ffd99a",[],"At Hunting Energy Services, we understand the importance of environmental sustainability. We are committed to minimizing our impact on the environment through various initiatives. Our goal is to reduce our carbon footprint and to utilize new and existing technologies to contribute to a sustainable energy.",[],{"_key":14963,"_type":173,"children":14964,"markDefs":14968,"style":182},"6b17b2ff61aa",[14965],{"_key":14966,"_type":177,"marks":14967,"text":180},"cafd74d5fb59",[],[],{"_key":14970,"_type":173,"children":14971,"markDefs":14976,"style":182},"073bb1a3c6c1",[14972],{"_key":14973,"_type":177,"marks":14974,"text":14975},"83a4a04e2b7f",[],"Join us at ADIPEC 2023 to learn more about our innovative solutions and our commitment to environmental sustainability. We look forward to meeting you there!",[],{"_type":144,"showCTA":7},"Hunting, a leading provider of energy services to the world's top oil and gas companies, is pleased to announce its participation in the upcoming Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) taking place from October 2-5. We are thrilled to present our innovative solutions at the upcoming ADIPEC event. This platform offers an ideal opportunity to display our cutting-edge technologies and services, highlighting our commitment to excellence within the energy sector. \n\nHunting's presence in Dubai acts as a manufacturing, management and administration hub for operations in the Middle East and Africa. This strategic location allows the company to broaden its range of product offerings, thereby strengthening its market position.\n\nIn summary, Hunting PLC showcases a multi-faceted approach to progress in the Middle East, with a strong focus on infrastructure development, environmental sustainability, and technological advancements. These concerted efforts promise to steer the company towards a future of resilience and sustainable growth.","Hunting: Exhibiting at ADIPEC 2023",{"_key":14981,"_type":1717,"cta":14982,"image":14983},"fff6c021b4b7",{"_type":144,"showCTA":7},{"_type":146,"asset":14984},{"_ref":14985,"_type":141},"image-400d36474c94c58e97c2036bb74baeb7e84e1f76-480x270-gif","Exhibiting in the upcoming Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) taking place from October 2-5, 2023.\n\nStand 9650, Hall: 9",{"_type":146,"asset":14988},{"_ref":14989,"_type":141},"image-a8f76f9af1c2504a3709bd5d8f4ec10299a4f6ef-1920x1080-png","2023-09-05T13:23:40.951Z",{"_type":9,"current":14992},"hunting-showcasing-innovations-at-adipec-2023",[14994,14996],{"_key":14995,"_ref":14659,"_type":141},"00d5bdd1f1d1",{"_key":14997,"_ref":14656,"_type":141},"ccdcfb1d3912","Hunting: Showcasing Innovations at ADIPEC 2023","\u002Fnews\u002Fhunting-showcasing-innovations-at-adipec-2023",{"_createdAt":15001,"_id":15002,"_rev":8289,"_type":168,"_updatedAt":116,"categories":15003,"content":15006,"downloads":15492,"introText":15498,"publishedAt":15499,"slug":15500,"tags":15502,"title":15508,"url":15509},"2023-08-24T12:48:04Z","8d692b04-17f7-4f48-b60d-46b553d09379",[15004],{"_key":15005,"_ref":1713,"_type":141},"014a2a7ecded",[15007,15021,15052,15072,15173,15208,15244,15368,15394,15433,15453,15465],{"_key":15008,"_type":193,"body":15009,"cta":15018,"introText":15019,"title":15020},"cf0ceec2f3db",[15010],{"_key":15011,"_type":173,"children":15012,"markDefs":15017,"style":182},"2421fe5f3243",[15013],{"_key":15014,"_type":177,"marks":15015,"text":15016},"d1fe5034358e0",[],"Hunting PLC (LSE:HTG), the global engineering group, today announces its unaudited half year results for the six months ended 30 June 2023.",[],{"_type":144,"showCTA":7},"Strong performance in H1 2023 with progress across all segments of the Group","H1 2023 results",{"_key":15022,"_type":7274,"cta":15023,"listItems":15024,"title":262,"type":2555,"width":7291},"96ff8e81f109",{"_type":144,"showCTA":7},[15025,15029,15033,15037,15040,15044,15048],{"_key":15026,"_type":7279,"description":15027,"title":15028},"5f9b61ebdd08","(H1 2022 - $325.9m)","Order book increased by 63% to $529.7m",{"_key":15030,"_type":7279,"description":15031,"title":15032},"fdb0ffc74d73","(H1 2022 - $336.1m)","Revenue increased by 42% to $477.8m",{"_key":15034,"_type":7279,"description":15035,"title":15036},"a14c81703385","(H1 2022 - $75.8m)","Gross profit $114.2m up 51%",{"_key":15038,"_type":7279,"title":15039},"ad03a475c5bc","Gross margin improved to 24% from 23%",{"_key":15041,"_type":7279,"description":15042,"title":15043},"f670185e19be","(H1 2022 - $23.6m)","EBITDA of $48.7m",{"_key":15045,"_type":7279,"description":15046,"title":15047},"04a2fa2117dc","(H1 2022 - $4.7m)","Adjusted operating profit $26.2m",{"_key":15049,"_type":7279,"description":15050,"title":15051},"38f9e1046f10","(H1 2022 - 4.5 cents)","Interim dividend declared 5.0 cents per share",{"_key":15053,"_type":193,"body":15054,"cta":15071,"subHeading":201},"a8b05ce3bab9",[15055,15063],{"_key":15056,"_type":173,"children":15057,"markDefs":15062,"style":182},"b7d61675f9f6",[15058],{"_key":15059,"_type":177,"marks":15060,"text":15061},"a3858d1510520",[216],"“Today’s results confirm the positive trend of increased investment in the oil and gas industry following years of under investment, driven by global energy demand and increased focus on energy security. We believe that the sector is in the early days of a long term growth cycle which, coupled with our non-energy businesses, positions the Company for increased revenue and earnings going forward. All our businesses have performed well during the period, and we are particularly pleased to have continued to secure major OCTG orders, which has increased our sales order book strongly since year-end. Management believes this performance indicator provides good visibility of the Group’s trading outlook in the short to medium term.",[],{"_key":15064,"_type":173,"children":15065,"markDefs":15070,"style":182},"857188cd4159",[15066],{"_key":15067,"_type":177,"marks":15068,"text":15069},"9ad95437b33a0",[216],"“Alongside our core oil and gas businesses, Hunting has made good progress in positioning itself as a critical provider of technology, as well as a key supplier of important raw materials for the energy transition. Management anticipates this market will provide strong growth in the long term as the world solves the challenge of energy security and low carbon. Hunting will play a major role in this complex solution and we look forward to delivering on our objectives over the coming years.”",[],{"_type":144,"showCTA":7},{"_key":15073,"_type":268,"body":15074,"introText":15115,"tables":15116,"title":2960},"c22afa1db1c6",[15075,15083,15091,15107],{"_key":15076,"_type":173,"children":15077,"markDefs":15082,"style":182},"3cb8a0c08873",[15078],{"_key":15079,"_type":177,"marks":15080,"text":15081},"4f6b5927032d0",[216],"*Non-GAAP measure (“NGM”). Please see the 2023 Half Year Report and Accounts pages 33 to 38.",[],{"_key":15084,"_type":173,"children":15085,"markDefs":15090,"style":182},"030c851347b2",[15086],{"_key":15087,"_type":177,"marks":15088,"text":15089},"2ad5fe039ff10",[216],"**EBITDA as a percentage of revenue.",[],{"_key":15092,"_type":173,"children":15093,"markDefs":15106,"style":182},"2fdcf73c3274",[15094,15098,15102],{"_key":15095,"_type":177,"marks":15096,"text":15097},"8b04b2a9d2650",[216],"***",{"_key":15099,"_type":177,"marks":15100,"text":15101},"8b04b2a9d2651",[]," ",{"_key":15103,"_type":177,"marks":15104,"text":15105},"8b04b2a9d2652",[216],"Adjusted results exclude adjusting items.",[],{"_key":15108,"_type":173,"children":15109,"markDefs":15114,"style":182},"0ad3db08e0c4",[15110],{"_key":15111,"_type":177,"marks":15112,"text":15113},"c7a27cc7778f0",[216],"**** Adjusted operating profit as a percentage of revenue.",[],"Financial Performance Measures",[15117],{"_key":15118,"_type":289,"headerAlignment":125,"layout":291,"table":15119,"type":289},"43349cd4bb3d",{"rows":15120},[15121,15126,15132,15138,15143,15150,15156,15162,15167],{"_key":15122,"_type":296,"cells":15123},"5f11182d-1c2f-478c-bdab-f9427763c037",[180,15124,15125,2891],"\t H1 2023 \u002F $m","H1 2022 \u002F $m",{"_key":15127,"_type":296,"cells":15128},"e66074c4-c819-45df-a2d7-6c9bd7095653",[307,15129,15130,15131],"477.8","336.1","+42%",{"_key":15133,"_type":296,"cells":15134},"bbe7905f-7838-406a-910a-5c36c341c6fd",[319,15135,15136,15137],"48.7","23.6","+106%",{"_key":15139,"_type":296,"cells":15140},"c72c1eb8-351a-4858-9d35-919be26e7bd2",[15141,2948,15142,180],"EBITDA margin**","7%",{"_key":15144,"_type":296,"cells":15145},"50d5da91-5364-44a9-b957-3298d0de8ead",[15146,15147,15148,15149],"Adjusted operating profit*\u002F***","26.2","4.7","+457%",{"_key":15151,"_type":296,"cells":15152},"8f1ade74-77d2-4e0e-9459-abb17f6fc6bf",[15153,15154,15155,180],"Adjusted operating profit margin****","5%","1%",{"_key":15157,"_type":296,"cells":15158},"15c8d2ff-977b-4cf3-8797-d93fe0881133",[15159,15160,15161,180],"Adjusted diluted earnings (loss) per share*\u002F***","9.6c","(0.5)c",{"_key":15163,"_type":296,"cells":15164},"5704f38d-f24b-45e8-853b-e673bd89b620",[361,15165,15166,180],"(39.8)","(3.2)",{"_key":15168,"_type":296,"cells":15169},"0b779e9a-4cd5-404b-ae0d-d1b35b7c271b",[15170,15171,15172,180],"Total cash and bank borrowings*","(51.7)","85.6",{"_key":15174,"_type":268,"body":15175,"introText":15181,"tables":15182,"title":2960},"b7076fa15a7bdb6c15d4aa5df4cd540f",[15176],{"_key":15108,"_type":173,"children":15177,"markDefs":15180,"style":182},[15178],{"_key":15111,"_type":177,"marks":15179,"text":180},[],[],"Financial Performance Measures Derived from IFRS",[15183],{"_key":15118,"_type":289,"headerAlignment":125,"layout":291,"table":15184,"type":289},{"rows":15185},[15186,15188,15193,15197,15203],{"_key":15122,"_type":296,"cells":15187},[180,15124,15125,2891],{"_key":15127,"_type":296,"cells":15189},[15190,15147,15191,15192],"Operating profit ","1.7","+1,441%",{"_key":15133,"_type":296,"cells":15194},[15195,15160,15196,180],"Diluted earnings (loss) per share","(2.4)c",{"_key":15139,"_type":296,"cells":15198},[15199,15200,15201,15202],"Interim dividend declared per share","5.0c","4.5c","+11%",{"_key":15144,"_type":296,"cells":15204},[2084,15205,15206,15207],"529.7","325.9","+63%",{"_key":15209,"_type":193,"body":15210,"cta":15243,"title":3008},"55f604e6820c",[15211,15219,15227,15235],{"_key":15212,"_type":173,"children":15213,"markDefs":15218,"style":182},"e8406e419f5a",[15214],{"_key":15215,"_type":177,"marks":15216,"text":15217},"799ae51d37c10",[],"Global energy markets continue to display growth, stability and resilience, despite the macroeconomic narrative from some Western economies. Activity across the oil and gas industry continues to be strong, particularly within the offshore segment of the market and drilling continues to increase in momentum in South America, West Africa, the Middle East and Asia Pacific.",[],{"_key":15220,"_type":173,"children":15221,"markDefs":15226,"style":182},"435f8144fda9",[15222],{"_key":15223,"_type":177,"marks":15224,"text":15225},"fe528e32dbd00",[],"On this basis, the Board believes Hunting has good momentum going into the second half of the year, with an EBITDA performance similar to what has been delivered in H1 2023. Further improvements in working capital efficiencies are expected in H2 2023, with the Group’s total cash and bank borrowing position expected to unwind by the year-end as larger projects are completed in H2 2023 which will deliver strong cash generation from operating activities.",[],{"_key":15228,"_type":173,"children":15229,"markDefs":15234,"style":182},"b4e9e78af030",[15230],{"_key":15231,"_type":177,"marks":15232,"text":15233},"3517daadbd740",[],"Opportunities within energy transition markets are accelerating fast, driven by legislation in North America, Europe and Asia Pacific, as well as the decarbonisation initiatives announced by many companies and governments. Hunting will continue to increase its position in this market in the months ahead, by offering new technology and critical supply channels to the many stakeholders in this increasingly important sector.",[],{"_key":15236,"_type":173,"children":15237,"markDefs":15242,"style":182},"c25e3b766d81",[15238],{"_key":15239,"_type":177,"marks":15240,"text":15241},"31a3585bb9e60",[],"The Company’s Capital Markets Day is an exciting opportunity for Hunting to reinforce its investment case to investors as global energy markets return to robust growth and as traditional and new technologies and markets contribute to the ever-increasing complexity of the energy industry and future landscape. The Group has a strong position and reputation across multiple industries and end markets, and is well positioned to deliver strong long-term cash flows and returns for stakeholders into the medium and long term.",[],{"_type":144,"showCTA":7},{"_key":15245,"_type":193,"body":15246,"cta":15367,"title":9293},"f6eea792aed7",[15247,15255,15263,15271,15279,15287,15295,15303,15311,15319,15327,15335,15343,15351,15359],{"_key":15248,"_type":173,"children":15249,"markDefs":15254,"style":14843},"003eb9d087f8",[15250],{"_key":15251,"_type":177,"marks":15252,"text":15253},"04dac6a63b7e0",[216],"Further Strengthening of Sales Order Book",[],{"_key":15256,"_type":173,"children":15257,"markDefs":15262,"style":182},"82db8068c1c2",[15258],{"_key":15259,"_type":177,"marks":15260,"text":15261},"bf0b8bddc7ce0",[],"The Company continued to build its sales order book during the period and at 30 June 2023 this stood at $529.7m (31 December 2022 – $473.0m; 30 June 2022 – $325.9m). The order book comprises 4% Perforating Systems; 47% OCTG; 28% Advanced Manufacturing; 19% Subsea; and 2% Other Manufacturing. Of this order book, approximately 70% is expected to be completed by the year-end; 20% during 2024; and 10% from 2025 onwards, underlying the changing profile of Hunting’s revenue visibility.",[],{"_key":15264,"_type":173,"children":15265,"markDefs":15270,"style":14843},"602939765574",[15266],{"_key":15267,"_type":177,"marks":15268,"text":15269},"7d1de6d207600",[216],"$91m Contract Award with Cairn Oil and Gas, Vedanta Limited",[],{"_key":15272,"_type":173,"children":15273,"markDefs":15278,"style":182},"dd36a469e28c",[15274],{"_key":15275,"_type":177,"marks":15276,"text":15277},"0ba00ec16a090",[],"On 30 May 2023, the Company announced a record contract that management estimates to be worth up to $91m with Cairn Oil and Gas, Vedanta Limited, for the supply of Hunting’s SEAL-LOCK XDTM Premium Connection along with OCTG. The contract is for an estimated 100 wells and is to extend up to three years for Cairn’s operations in Rajasthan, India. This order supports management’s belief that international market sentiment remains extremely strong as governments and countries address the challenges of energy security, the development of domestic supply and post-COVID economic recovery.",[],{"_key":15280,"_type":173,"children":15281,"markDefs":15286,"style":14843},"c7c012082164",[15282],{"_key":15283,"_type":177,"marks":15284,"text":15285},"d75ea43dc25d0",[216],"10-Year Strategic Alliance Signed with Zhejiang Jiuli Hi-Tech Metals Co. Ltd (“Jiuli”)",[],{"_key":15288,"_type":173,"children":15289,"markDefs":15294,"style":182},"369365fbbc00",[15290],{"_key":15291,"_type":177,"marks":15292,"text":15293},"2ee345ce9cf60",[],"On 5 June 2023, the Company announced a 10-year strategic alliance with Zhejiang Jiuli Hi-Tech Metals Co. Ltd (“Jiuli”), for the supply of corrosion resistant alloys (“CRA”) for OCTG, Carbon Capture and Storage (“CCUS”) and geothermal applications. The partnership brings together Hunting’s SEAL-LOCKTM Premium Connection technology with Jiuli’s CRA, such as duplex\u002Fsuper duplex and high nickel-based alloys, for downhole casing and production tubing applications, which meet some of the harshest well conditions in the traditional oil and gas industry as well as the emerging CCUS and geothermal markets. The partnership also adds to Hunting’s existing OCTG product portfolio and enables the supply of the widest range of premium OCTG for its client base, within the international oil and gas and energy transition markets, as projects accelerate in the key areas of North America, Middle East and Africa and Asia Pacific. CCUS and geothermal are two end-markets that Hunting is pursuing as part of its strategy to become a key supplier to these sectors by providing project developers with critical supply channels and the premium connections required for these increasingly challenging technical projects, which operate in demanding sub-surface environments. All these end-markets are believed to show robust demand and growth in the medium and long term.",[],{"_key":15296,"_type":173,"children":15297,"markDefs":15302,"style":14843},"7cb01c4d291f",[15298],{"_key":15299,"_type":177,"marks":15300,"text":15301},"a397379502f20",[216],"Collaboration Agreement with CRA-Tubulars B.V.",[],{"_key":15304,"_type":173,"children":15305,"markDefs":15310,"style":182},"1aff5416abdd",[15306],{"_key":15307,"_type":177,"marks":15308,"text":15309},"629d93267ceb0",[],"On 13 July 2023, Hunting announced a collaboration agreement with CRA-Tubulars B.V., to further develop the Company’s presence in energy transition markets. The collaboration provides the Company with access to novel titanium composite tubing technology, which is showing strong potential in CCUS project applications. The technology has won awards within the Shell ‘Game Changer’ technology programme, and Hunting is exploring the use of the technology alongside its SEAL-LOCKTM Premium Connection technology. The collaboration agreement includes exclusive marketing, distribution and manufacturing rights for oil and gas and carbon capture and storage markets in North America for a period of five years.",[],{"_key":15312,"_type":173,"children":15313,"markDefs":15318,"style":14843},"0ebced682473",[15314],{"_key":15315,"_type":177,"marks":15316,"text":15317},"bef9ee1fd77e0",[216],"Restructuring and Operational Efficiency",[],{"_key":15320,"_type":173,"children":15321,"markDefs":15326,"style":182},"a95161c55296",[15322],{"_key":15323,"_type":177,"marks":15324,"text":15325},"5ebed6b770690",[],"As separately announced today, Hunting is continuing to drive stronger internal operational efficiencies throughout its global footprint. Hunting Titan has commenced the closure of its Oklahoma City operating site and will transfer the manufacture of perforating systems to the Group’s Pampa, Texas and Monterrey, Mexico facilities. A distribution centre will be retained to continue to service clients in the Mid-Continent Region of the USA.",[],{"_key":15328,"_type":173,"children":15329,"markDefs":15334,"style":182},"63c65cc878db",[15330],{"_key":15331,"_type":177,"marks":15332,"text":15333},"50315c79c5f80",[],"Within the EMEA operating segment, the manufacturing and assembly operations of the Group’s main well testing site are to be transferred from the Netherlands to Dubai, which will lead to the closure of a facility at Velsen-Noord, with activities in the Netherlands to be merged into a single location. Sales, engineering and service support functions will be maintained in the Netherlands to support European clients. Hunting’s Dubai operations are to be relocated to a larger, higher efficiency facility in the UAE to accommodate the manufacturing operations of the well testing business, which also positions Hunting to capitalise on the strong market outlook for the Middle East in the long term. Hunting will retain a single facility in Velsen-Noord to support oil and gas energy transition clients across Europe.",[],{"_key":15336,"_type":173,"children":15337,"markDefs":15342,"style":14843},"f555dc607b56",[15338],{"_key":15339,"_type":177,"marks":15340,"text":15341},"571a912201790",[216],"Disposal of Exploration and Production Assets",[],{"_key":15344,"_type":173,"children":15345,"markDefs":15350,"style":182},"11346ce0089d",[15346],{"_key":15347,"_type":177,"marks":15348,"text":15349},"45d9965b78a60",[],"During H1 2023, the Group has completed a disposal process of all but one of its US onshore and offshore oil and gas producing assets, which are held by Hunting’s wholly-owned subsidiary, Tenkay Resources, Inc (“Tenkay”). The assets have been sold on an asset-by-asset basis to a variety of third parties. In addition, the Group has negotiated the transfer of the majority of the non-producing assets and respective future plug and abandonment liabilities, which have reduced Hunting’s possible exposure to future decommissioning costs. The transfer of these non-producing assets was completed in July 2023 and, therefore, the assets were shown as held for sale at 30 June 2023. As at 24 August 2023, Tenkay retains a working interest in the South Timbalier 34 asset, for which management is continuing to pursue a disposal in the short term.",[],{"_key":15352,"_type":173,"children":15353,"markDefs":15358,"style":14843},"b5865e4b6b82",[15354],{"_key":15355,"_type":177,"marks":15356,"text":15357},"84a87337ac300",[216],"Completion of Threading Facility in India, with Joint Venture Partner Jindal SAW",[],{"_key":15360,"_type":173,"children":15361,"markDefs":15366,"style":182},"503472c9425a",[15362],{"_key":15363,"_type":177,"marks":15364,"text":15365},"ccf5190cc22f0",[],"In Q2 2023, the Company completed the construction and commissioning of its new threading facility at Nashik Province, India, with its joint venture partner, Jindal SAW. The official opening of the facility is planned for 19 September 2023.",[],{"_type":144,"showCTA":7},{"_key":15369,"_type":193,"body":15370,"cta":15387,"introText":15393,"title":9501},"c4962d7a9e65",[15371],{"_key":15372,"_type":173,"children":15373,"markDefs":15385,"style":182},"40814eec8ab4",[15374,15378,15382],{"_key":15375,"_type":177,"marks":15376,"text":15377},"74cd31a92919",[216],"The linked documents provide access to all financial and operational disclosures contained in the Group’s 2023 Half Year Report and Accounts and can be accessed at ",{"_key":15379,"_type":177,"marks":15380,"text":2296},"bc140f429606",[216,15381],"2ca3e4b9ac09",{"_key":15383,"_type":177,"marks":15384,"text":3208},"87241bc6f338",[216],[15386],{"_key":15381,"_type":138,"href":3211},{"CTA":15388,"_type":144,"showCTA":22},[15389],{"_key":15390,"_type":131,"externalDocument":15391,"text":15392,"type":134},"05037b601b24","https:\u002F\u002Fwww.dropbox.com\u002Fscl\u002Ffi\u002F8fbvbxwply52wec0na9q7\u002FHTG_Half-Year-Report_PDF-1.pdf?rlkey=7z3p8pcojszvlo99zqyi8bgdd&dl=0","Download Half Year Report 2023","For access to the Half Year Management Report narrative for the six months to 30 June 2023 please click on the following link.",{"_key":15395,"_type":193,"body":15396,"cta":15426,"introText":15432,"title":1017},"0bb9a44f0526",[15397,15404,15411],{"_key":15398,"_type":173,"children":15399,"markDefs":15403,"style":182},"9e2530c1b490",[15400],{"_key":15401,"_type":177,"marks":15402,"text":9609},"fdcfcf5f20080",[],[],{"_key":15405,"_type":173,"children":15406,"markDefs":15410,"style":182},"b679d2210a1b",[15407],{"_key":15408,"_type":177,"marks":15409,"text":180},"5d3edd2599f20",[],[],{"_key":15412,"_type":173,"children":15413,"markDefs":15424,"style":182},"c94f99aeb6f6",[15414,15417,15421],{"_key":15415,"_type":177,"marks":15416,"text":15377},"8c1583a3d51e0",[216],{"_key":15418,"_type":177,"marks":15419,"text":2296},"8c1583a3d51e1",[15420,216],"e367c5425d8f",{"_key":15422,"_type":177,"marks":15423,"text":3208},"8c1583a3d51e2",[216],[15425],{"_key":15420,"_type":138,"href":3211},{"CTA":15427,"_type":144,"showCTA":22},[15428],{"_key":15429,"_type":131,"externalDocument":15430,"text":15431,"type":134},"6b090d7e86ba","https:\u002F\u002Fwww.dropbox.com\u002Fscl\u002Ffi\u002F8qioe7qyke7pmzzxs05t8\u002FHTG-Independent-Review-Report.pdf?rlkey=c2105dzwo2p2el62n3in1h8if&dl=0","Download Independent Review Report","For access to the Financial Statements and Notes to the Accounts for the half year ended 30 June 2023 please click on the following link.",{"_key":15434,"_type":193,"body":15435,"cta":15444,"introText":15452,"title":1064},"226750849995",[15436],{"_key":15437,"_type":173,"children":15438,"markDefs":15443,"style":182},"dc744801b5e4",[15439],{"_key":15440,"_type":177,"marks":15441,"text":15442},"b3b60facb2b40",[],"Analysts and investors wishing to participate in a Q&A session can do so by submitting questions via the chat function of the webcast and these will be addressed by management during the live webcast. If you have any queries relating to this then please email hunting@buchanan.uk.com",[],{"CTA":15445,"_type":144,"showCTA":22},[15446],{"_key":15447,"_type":131,"link":15448,"text":15451,"type":138},"d09eff77ec76",{"_type":138,"href":15449,"linkType":15450},"https:\u002F\u002Fstream.buchanan.uk.com\u002Fbroadcast\u002F64a58b8ca0226e2268697ad8","external","Link to webcast","Hunting PLC will host an analyst briefing and webcast at the offices of Buchanan (107 Cheapside, London, EC2V 6DN) on 24 August 2023 commencing at 9:30a.m. BST.\n\nThe live webcast can be accessed via the following link.",{"_key":15454,"_type":7274,"cta":15455,"introText":1126,"listItems":15456,"title":15464,"type":2555,"width":7291},"5374a6efde92",{"_type":144,"showCTA":7},[15457,15460],{"_key":15458,"_type":7279,"description":15459,"title":1134},"4590d1edff64","Jim Johnson, Chief Executive\nBruce Ferguson, Finance Director\n\nlon.ir@hunting-intl.com\nTel: +44 (0) 20 7321 0123\n\n",{"_key":15461,"_type":7279,"description":15462,"title":15463},"103089ba10e5","Ben Romney\nGeorge Pope\n\nTel: +44 (0) 20 7466 5000\n","Buchanan ","Getin touch",{"_key":15466,"_type":193,"body":15467,"cta":15490,"title":15491},"f0813ab7fd9e",[15468,15476,15483],{"_key":15469,"_type":173,"children":15470,"markDefs":15475,"style":182},"111d9d9bd7d9",[15471],{"_key":15472,"_type":177,"marks":15473,"text":15474},"0c68415bcf710",[],"Hunting is a global engineering group that provides precision-manufactured equipment and premium services, which add value for our customers. Established in 1874, it is a premium listed public company traded on the London Stock Exchange. The Company maintains a corporate office in Houston and is headquartered in London. As well as the United Kingdom, the Company has operations in China, Indonesia, Mexico, Netherlands, Norway, Saudi Arabia, Singapore, United Arab Emirates and the United States of America.",[],{"_key":15477,"_type":173,"children":15478,"markDefs":15482,"style":182},"157363a4e20d",[15479],{"_key":15480,"_type":177,"marks":15481,"text":11702},"eefa01e9d4380",[],[],{"_key":15484,"_type":173,"children":15485,"markDefs":15489,"style":182},"4599830f2e7f",[15486],{"_key":15487,"_type":177,"marks":15488,"text":1309},"7f504369f0da0",[],[],{"_type":144,"showCTA":7},"Notes to Editors",[15493],{"_key":15494,"_type":10023,"asset":15495,"title":15497},"2da313a2df1a",{"_ref":15496,"_type":141},"file-bb118f47ec49bf83931b3875b33b6389e3fc1479-docx","Download press release","Unaudited results for the six months to 30 June 2023\nStrong performance in H1 2023 with progress across all segments of the Group\n","2023-08-24T12:41:45.853Z",{"_type":9,"current":15501},"half-year-results-2023",[15503,15505],{"_key":15504,"_ref":7180,"_type":141},"127ddcb4a77e",{"_key":15506,"_ref":15507,"_type":141},"306f995c3c83","46e97b24-7b97-4855-bfca-8810a2dda967","Half year results 2023","\u002Fnews\u002Fhalf-year-results-2023",{"_createdAt":15511,"_id":15512,"_rev":13912,"_type":168,"_updatedAt":116,"body":15513,"categories":15561,"content":15564,"downloads":15601,"introText":15606,"publishedAt":15499,"slug":15607,"tags":15609,"title":15613,"url":15614},"2023-08-24T13:42:21Z","c815e561-a43e-4cf6-b81a-1079f7cae257",[15514,15522,15530,15538,15545,15553],{"_key":15515,"_type":173,"children":15516,"markDefs":15521,"style":182},"d9f7a9710016",[15517],{"_key":15518,"_type":177,"marks":15519,"text":15520},"31806c04cd680",[],"Within the EMEA operating segment, the manufacturing and assembly operations of the Group’s main well testing site are to be transferred from the Netherlands to Dubai, which will lead to the closure of a facility at Velsen-Noord, with activities in the Netherlands to be merged into a single location. Sales, engineering and service support functions will be maintained in the Netherlands to support European clients. Hunting’s Dubai operations are to be relocated to a larger, higher efficiency facility in the UAE to accommodate the manufacturing operations of the well testing business, which also positions Hunting to capitalise on the strong market outlook for the Middle East in the long term. Hunting will retain a single facility in Velsen-Noord to support oil and gas and energy transition clients across Europe.",[],{"_key":15523,"_type":173,"children":15524,"markDefs":15529,"style":182},"1ee98e82a8c2",[15525],{"_key":15526,"_type":177,"marks":15527,"text":15528},"1e6c6eb921ce0",[],"Hunting Titan has commenced the closure of its Oklahoma City operating site and will transfer the manufacture of perforating systems to the Group’s Pampa, US, and Monterrey, Mexico, facilities, which have both benefited from recent investment in new production capacity. A distribution centre will be retained in the area to continue to service clients.",[],{"_key":15531,"_type":173,"children":15532,"markDefs":15537,"style":182},"0dc76ae1342d",[15533],{"_key":15534,"_type":177,"marks":15535,"text":15536},"36879ab600300",[],"Since the start of 2023, Hunting has also divested the majority of its legacy non-core exploration and production assets held by its wholly-owned subsidiary Tenkay Resources, Inc. The disposals have been completed on an asset-by-asset basis, with Hunting now retaining a working interest in a single offshore field. As part of the disposal process, Hunting has negotiated the transfer of the majority of the non-producing assets and respective future plug and abandonment liabilities, which have reduced Hunting’s possible exposure to future decommissioning costs.",[],{"_key":15539,"_type":173,"children":15540,"markDefs":15544,"style":182},"7c9b1790f9d8",[15541],{"_key":15542,"_type":177,"marks":15543,"text":180},"66280b18f47c0",[],[],{"_key":15546,"_type":173,"children":15547,"markDefs":15552,"style":182},"022a512e1651",[15548],{"_key":15549,"_type":177,"marks":15550,"text":15551},"1c3b13683e9a0",[],"Jim Johnson, Chief Executive, commented:",[],{"_key":15554,"_type":173,"children":15555,"markDefs":15560,"style":182},"3f32a407ae0c",[15556],{"_key":15557,"_type":177,"marks":15558,"text":15559},"fb34ad26976e0",[216],"\"Hunting is continuing to drive stronger internal operational efficiencies throughout its global footprint. Management is making good progress in delivering key initiatives in support of the Hunting 2030 strategy, which includes locating manufacturing facilities in areas of high growth and merging operations to enhance returns and lower the cost base.”",[],[15562],{"_key":15563,"_ref":1713,"_type":141},"baf539736163",[15565,15574],{"_key":15566,"_type":7274,"cta":15567,"introText":1126,"listItems":15568,"title":12208,"type":2555,"width":7291},"2ed4b6303352",{"_type":144,"showCTA":7},[15569,15572],{"_key":15570,"_type":7279,"description":15571,"title":1134},"b310b96e02ba","Jim Johnson, Chief Executive\nBruce Ferguson, Finance Director\n\nlon.ir@hunting-intl.com\nTel: +44 (0) 20 7321 0123\n",{"_key":15573,"_type":7279,"description":15462,"title":8934},"2411ddde122f",{"_key":15575,"_type":193,"body":15576,"cta":15600,"introText":12234,"title":15491},"40754eca38d5",[15577,15585,15593],{"_key":15578,"_type":173,"children":15579,"markDefs":15584,"style":182},"99c473a5ca90",[15580],{"_key":15581,"_type":177,"marks":15582,"text":15583},"48eee47892310",[],"Hunting is a global engineering group that provides precision-manufactured equipment and premium services, which add value for its customers. Established in 1874, it is a premium listed public company traded on the London Stock Exchange. The Company maintains a corporate office in Houston and is headquartered in London. As well as the United Kingdom, the Company has operations in Canada, China, Indonesia, Mexico, Netherlands, Norway, Saudi Arabia, Singapore, United Arab Emirates and the United States of America.",[],{"_key":15586,"_type":173,"children":15587,"markDefs":15592,"style":182},"779328d26061",[15588],{"_key":15589,"_type":177,"marks":15590,"text":15591},"9066b1b2bbe00",[],"The Group reports in US dollars across five segments: Hunting Titan, North America, Subsea Technologies, EMEA and Asia Pacific.",[],{"_key":15594,"_type":173,"children":15595,"markDefs":15599,"style":182},"0dbeb774990a",[15596],{"_key":15597,"_type":177,"marks":15598,"text":1309},"308499129c690",[],[],{"_type":144,"showCTA":7},[15602],{"_key":15603,"_type":10023,"asset":15604,"title":15497},"a6291cd5647e",{"_ref":15605,"_type":141},"file-ca47fe1a8e2d602ec97f4bfcc72e8f6c61f94dd3-docx","Hunting PLC (LSE: HTG), the global engineering group, today announces that as part of a wider programme to drive higher operational efficiencies and reduce future cost outflows, it has commenced a further restructuring of its operating footprint, in addition to disposing of its legacy non-core exploration and production assets.",{"_type":9,"current":15608},"closure-of-facilities-and-sale-of-e-and-p-assets",[15610],{"_key":15611,"_ref":15612,"_type":141},"6d3bbc50701a","d2e7486e-09c1-4996-9c75-29b52efe9421","Closure of facilities and sale of E&P assets","\u002Fnews\u002Fclosure-of-facilities-and-sale-of-e-and-p-assets",{"_createdAt":15616,"_id":15617,"_rev":12607,"_type":168,"_updatedAt":116,"categories":15618,"content":15621,"downloads":15776,"introText":15782,"publishedAt":15783,"slug":15784,"tags":15786,"title":15792,"url":15793},"2023-07-17T07:32:24Z","11ab61cd-a0e5-40ab-9577-daf8adcf8478",[15619],{"_key":15620,"_ref":1713,"_type":141},"a244acf355af",[15622,15635,15687,15708,15721,15734,15747,15757],{"_key":15623,"_type":193,"body":15624,"cta":15633,"title":15634},"bb3bf506b8f7",[15625],{"_key":15626,"_type":173,"children":15627,"markDefs":15632,"style":182},"2c61d9e84239",[15628],{"_key":15629,"_type":177,"marks":15630,"text":15631},"0d8db77ad1600",[],"The agreement provides Hunting with access to CRA’s novel Titanium Composite Tubing (“TCT”) technology and will utilise the Group’s Oil Country Tubular Goods (“OCTG”) connection technology to target Carbon Capture, Utilisation and Storage (“CCUS”) and traditional corrosion resistant OCTG applications.",[],{"_type":144,"showCTA":7},"Summary",{"_key":15636,"_type":193,"body":15637,"cta":15685,"title":15686},"7d35d42f9565c73bb50014c8a43d65e7",[15638,15646,15654,15662,15670,15678],{"_key":15639,"_type":173,"children":15640,"markDefs":15645,"style":182},"accf4f4ffbde",[15641],{"_key":15642,"_type":177,"marks":15643,"text":15644},"bcb7e741ee5f0",[],"CRA’s highly experienced team have developed a novel tubular technology for the upstream oil and gas industry and is believed to be an enabling technology to accelerate carbon dioxide (“CO2”) sequestration projects around the globe.",[],{"_key":15647,"_type":173,"children":15648,"markDefs":15653,"style":182},"7080aab0879d",[15649],{"_key":15650,"_type":177,"marks":15651,"text":15652},"02dcd39c42f30",[],"With its lightweight and superior anti-corrosion performance, TCT is a game changer technology for production and injection wells in highly corrosive environments. Customers can anticipate a host of benefits from this collaboration, specifically in the North American CCUS industry.",[],{"_key":15655,"_type":173,"children":15656,"level":955,"listItem":2555,"markDefs":15661,"style":182},"7065ca68e644",[15657],{"_key":15658,"_type":177,"marks":15659,"text":15660},"2c2abccbfb9c0",[],"CRA’s TCT technology offers superior corrosion resistance, handling the challenges of carbon dioxide corrosion and hydrogen sulphide. Unlike typical metallic corrosion-resistant alloys, TCT is made from aerospace grade Carbon Fibre and Titanium, which outperforms in cryogenic low-temperature environments found in CO2 injection wells, avoiding embrittlement and cracking issues.",[],{"_key":15663,"_type":173,"children":15664,"level":955,"listItem":2555,"markDefs":15669,"style":182},"cc7327f5c7cd",[15665],{"_key":15666,"_type":177,"marks":15667,"text":15668},"ab97bb65ce5b",[],"With a design built to last the entire lifespan of the well, TCT de-risks downhole tubing integrity challenges, associated with the level of water and other contaminants that remain in the CO2 injection stream after the filtering process or migrate into the well from the reservoir, resulting in substantial Capex and Opex cost savings for CCUS operators.",[],{"_key":15671,"_type":173,"children":15672,"markDefs":15677,"style":182},"1a2a5d6b67d2",[15673],{"_key":15674,"_type":177,"marks":15675,"text":15676},"a0a6ba1b4b7e0",[],"TCT technology is being assessed by a number of leading Operators and in 2022 was recognised in the Shell Game-Changer program. TCT technology is also covered by a number of patents held by CRA.",[],{"_key":15679,"_type":173,"children":15680,"markDefs":15684,"style":182},"be9166068c37",[15681],{"_key":15682,"_type":177,"marks":15683,"text":180},"1a4c7402f3070",[],[],{"_type":144,"showCTA":7},"About CRA and Titanium Composite Tubing technology",{"_key":15688,"_type":193,"body":15689,"cta":15706,"title":15707},"a19d81d703a0",[15690,15698],{"_key":15691,"_type":173,"children":15692,"markDefs":15697,"style":182},"57e05519c647",[15693],{"_key":15694,"_type":177,"marks":15695,"text":15696},"983322458f560",[],"Hunting has signed a collaboration agreement with CRA, which extends for an initial five-year period and provides exclusive TCT marketing, distribution and manufacturing rights in the North America region for application to the oil and gas and CCUS markets.",[],{"_key":15699,"_type":173,"children":15700,"markDefs":15705,"style":182},"bd95e7e6e677",[15701],{"_key":15702,"_type":177,"marks":15703,"text":15704},"e44bc30df72a",[],"CRA will provide its TCT technology to Hunting including the option of utilising their titanium grade hydraulic premium concentric threaded connectors. Under the agreement, Hunting also offers end users the option of deploying this novel composite tubing solution with conventional OCTG premium connection technology, including the Company’s proprietary SEAL-LOCKTM family of connections. The Company will pursue commercial development and project trials of TCT, leveraging Hunting’s strong presence in the OCTG supply chain, where the Company is the leading independent supplier of OCTG connection technology.",[],{"_type":144,"showCTA":7},"Agreement with Hunting",{"_key":15709,"_type":193,"body":15710,"cta":15719,"introText":15720},"0c095cf84db9",[15711],{"_key":15712,"_type":173,"children":15713,"markDefs":15718,"style":182},"b1e87604ac05",[15714],{"_key":15715,"_type":177,"marks":15716,"text":15717},"2cc83ab834fd0",[],"“CRA’s technology has the potential to disrupt the CCUS industry. Combining Hunting’s expertise in OCTG, titanium alloy products and connection technology with this novel engineered tubular solution, has the potential to solve the corrosion and cryogenic temperature issues that challenge CO2 storage well design construction. We are excited by the prospects of this collaboration, as Hunting increases its presence in this important and fast growing market.”",[],{"_type":144,"showCTA":7},"Commenting on the collaboration agreement, Jim Johnson, Chief Executive of Hunting, said:",{"_key":15722,"_type":193,"body":15723,"cta":15732,"introText":15733},"e9b4c8b2acec",[15724],{"_key":15725,"_type":173,"children":15726,"markDefs":15731,"style":182},"0155c6cde39b",[15727],{"_key":15728,"_type":177,"marks":15729,"text":15730},"3147505cbc5f0",[],"\"This collaboration is an exciting milestone for both CRA-Tubulars and Hunting. Together, we will deliver unmatched value to our customers through innovative solutions and exceptional service. Our combined strengths will drive industry advancement and set new benchmarks for excellence.\"",[],{"_type":144,"showCTA":7},"Joost DeBakker, Chief Executive Officer of CRA-Tubulars, added:",{"_key":15735,"_type":193,"body":15736,"cta":15745,"introText":15746},"3d04134fb143",[15737],{"_key":15738,"_type":173,"children":15739,"markDefs":15744,"style":182},"2c9cc848bfd6",[15740],{"_key":15741,"_type":177,"marks":15742,"text":15743},"6a18ca9b221e0",[],"“We are thrilled to partner with CRA-Tubulars to create a powerful synergy in the market. By aligning our marketing efforts, we will be better positioned to serve our customers, drive innovation, and contribute to the growth of the CCUS industry. This collaboration is a testament to our shared commitment to delivering excellence.\"",[],{"_type":144,"showCTA":7},"Sean O’Shea, Hunting’s Director of Energy Transition, further added:",{"_key":15748,"_type":7274,"cta":15749,"introText":1126,"listItems":15750,"title":12208,"type":2555,"width":7291},"fdc379aedeae",{"_type":144,"showCTA":7},[15751,15754],{"_key":15752,"_type":7279,"description":15753,"title":1134},"6d2c1558cfa2","Jim Johnson, Chief Executive \nBruce Ferguson, Finance Director\n\nTel: +44 (0) 20 7321 0123\nlon.ir@hunting-intl.com",{"_key":15755,"_type":7279,"description":15756,"title":8934},"fac843f6af55","Ben Romney\n\nTel: +44 (0) 20 7466 5000",{"_key":15758,"_type":193,"body":15759,"cta":15775,"introText":12234,"title":10958},"c0e4e9cbefbd",[15760,15768],{"_key":15761,"_type":173,"children":15762,"markDefs":15767,"style":182},"a3c4ed75a2c2",[15763],{"_key":15764,"_type":177,"marks":15765,"text":15766},"e9f4be20c88c0",[],"Hunting PLC is a global engineering group that provides precision-manufactured equipment and premium services, which add value for customers. Established in 1874, it is a premium listed public company traded on the London Stock Exchange. The Company maintains a corporate office in Houston and is headquartered in London. As well as the United Kingdom, the Company has operations in Canada, China, Indonesia, Mexico, Netherlands, Norway, Saudi Arabia, Singapore, United Arab Emirates and the United States of America.",[],{"_key":15769,"_type":173,"children":15770,"markDefs":15774,"style":182},"c25d83f1963f",[15771],{"_key":15772,"_type":177,"marks":15773,"text":1309},"a893d813e5e80",[],[],{"_type":144,"showCTA":7},[15777],{"_key":15778,"_type":10023,"asset":15779,"title":15781},"29d6ff7d65fb",{"_ref":15780,"_type":141},"file-2b6457a2d6309d327239062344f57c5be9bf4b05-pdf","Download pdf","Hunting PLC (LSE:HTG), the global engineering group, today announces that it has entered into a collaboration agreement with CRA-Tubulars BV (“CRA”) to develop mutual energy transition market opportunities in North America.","2023-07-13T07:22:00.000Z",{"_type":9,"current":15785},"collaboration-agreement-with-cra-tubulars-bv",[15787,15789],{"_key":15788,"_ref":7180,"_type":141},"077d67de82d1",{"_key":15790,"_ref":15791,"_type":141},"35c0b8c51406","c9855e31-a915-4e9b-93c6-32284b156f3b","Collaboration Agreement with CRA-Tubulars BV","\u002Fnews\u002Fcollaboration-agreement-with-cra-tubulars-bv",{"_createdAt":15795,"_id":15796,"_rev":12607,"_type":168,"_updatedAt":116,"categories":15797,"content":15800,"downloads":16086,"introText":16092,"publishedAt":16093,"slug":16094,"tags":16096,"title":16103,"url":16104},"2023-07-06T14:04:41Z","c9d6268b-3f25-4347-8c18-3fe6c11e9c94",[15798],{"_key":15799,"_ref":1713,"_type":141},"9d476bdc5ced",[15801,15835,15848,15892,15960,15997,16048,16058],{"_key":15802,"_type":7274,"cta":15803,"listItems":15804,"title":1339,"type":2555,"width":7291},"df34c4ee1998",{"_type":144,"showCTA":7},[15805,15808,15811,15814,15817,15820,15823,15826,15829,15832],{"_key":15806,"_type":7279,"title":15807},"f281ba652b62","H1 2023 trading has been ahead of management's expectations driven by strength across most international markets, with both revenue and operating profit ahead of the targets set at the start of the year. Performance in the period has also been materially ahead of the comparable period in 2022.",{"_key":15809,"_type":7279,"title":15810},"88e654804b8c","EBITDA for the first half of 2023 is likely to be in the range of $48m-$50m.",{"_key":15812,"_type":7279,"title":15813},"50610919ff69","Sales order books continue to be robust across all product lines, with the Group position at 30 June 2023 being c.$530m-$550m compared to $473m as at 31 December 2022.",{"_key":15815,"_type":7279,"title":15816},"ec6cf43b2de8","North America segment reports a performance materially ahead of expectations, primarily due to international orders for South America, which are driving the performance of the US Manufacturing business.",{"_key":15818,"_type":7279,"title":15819},"e8756cd60300","Hunting Titan's international revenue is building as US completion techniques and technology are adopted globally. The segment reports stable operating profits during the period.",{"_key":15821,"_type":7279,"title":15822},"998f495b15be","Subsea Technologies segment reports growth in revenue and profits as major orders for titanium stress joints are completed.",{"_key":15824,"_type":7279,"title":15825},"ce7a0035f9af","EMEA segment reports a broadly break-even performance as international activity supports higher revenue.",{"_key":15827,"_type":7279,"title":15828},"b45ed7350c46","Asia Pacific segment reports a material step up in revenue and a return to profitability as the CNOOC order continues to be delivered.",{"_key":15830,"_type":7279,"title":15831},"bb2a39c26ef0","Balance sheet remains robust with net debt expected to be $51m-$52m at 30 June 2023.",{"_key":15833,"_type":7279,"title":15834},"b2eb5d5c6fd2","The Company's Capital Markets Day is confirmed for Wednesday 13 September 2023, where the Hunting 2030 Strategy will be presented by management.",{"_key":15836,"_type":7274,"cta":15837,"listItems":15838,"title":1381,"type":2555,"width":7291},"957e91dd70a1",{"_type":144,"showCTA":7},[15839,15842,15845],{"_key":15840,"_type":7279,"title":15841},"84301ca4d05e","Group performance for H2 2023 is likely to be similar to H1, therefore management is increasing EBITDA guidance for the 2023 full-year to $96m-$100m.",{"_key":15843,"_type":7279,"title":15844},"61652881e83b","Management anticipates total cash and bank at 31 December 2023 to be between $nil and $25m as larger projects are completed in H2 2023.",{"_key":15846,"_type":7279,"title":15847},"ae0d62fe8b8f","The outlook for 2024 is improving as sales order books increase. Management now anticipates EBITDA to be in the range of $125m-$135m for the year ended 31 December 2024.",{"_key":15849,"_type":193,"body":15850,"cta":15891,"introText":3646},"fc4adca67f33",[15851,15859,15867,15875,15883],{"_key":15852,"_type":173,"children":15853,"markDefs":15858,"style":182},"b8a23af952d6",[15854],{"_key":15855,"_type":177,"marks":15856,"text":15857},"439b8fb9d8f80",[],"\"Hunting has delivered a strong performance in H1 2023 as business units across the Group benefit from increased client activity. Management remains focused on delivering on market guidance, which is supported by robust international market momentum including South America, the Middle East and Asia Pacific.\"",[],{"_key":15860,"_type":173,"children":15861,"markDefs":15866,"style":182},"edea75aafc01",[15862],{"_key":15863,"_type":177,"marks":15864,"text":15865},"fb7275efb3b10",[],"\"The North America drilling market is shifting activity to more oil focused targets, which continues to provide opportunities to the Group. Hunting Titan is shortly to launch the H-4 Perforating System™, which will also provide revenue growth to the segment in H2 2023, in addition to its good progress within international markets.\"",[],{"_key":15868,"_type":173,"children":15869,"markDefs":15874,"style":182},"0b1bd75a8d9c",[15870],{"_key":15871,"_type":177,"marks":15872,"text":15873},"7a48a060f0d90",[],"\"Hunting's Advanced Manufacturing businesses are also seeing good growth in both energy and non-oil and gas markets.\"",[],{"_key":15876,"_type":173,"children":15877,"markDefs":15882,"style":182},"205793379bc6",[15878],{"_key":15879,"_type":177,"marks":15880,"text":15881},"991e92e7a98e0",[],"\"The Group has made good progress in its strategy to position itself in the supply chain for energy transition markets. The strategic alliance with Jiuli, announced in June, enables Hunting to deliver key technologies and products to clients in the geothermal and carbon capture sectors, which management believes will lead to strong sales in the short to medium term.\"",[],{"_key":15884,"_type":173,"children":15885,"markDefs":15890,"style":182},"b7fd506d7791",[15886],{"_key":15887,"_type":177,"marks":15888,"text":15889},"0043b90f64ae0",[],"\"The outlook for 2023 continues to be strongly positive, with 2024 revenue visibility also improving due to the orders secured during the period.\"",[],{"_type":144,"showCTA":7},{"_key":15893,"_type":193,"body":15894,"cta":15959,"title":10606},"4764673cd10f",[15895,15903,15911,15919,15927,15935,15943,15951],{"_key":15896,"_type":173,"children":15897,"markDefs":15902,"style":182},"238e7508ed0c",[15898],{"_key":15899,"_type":177,"marks":15900,"text":15901},"62b44fd36fff0",[],"The monthly revenue run rate in H1 2023 is expected to be $76m-$80m, which compares to $56m in H1 2022 and $65m in H2 2022.",[],{"_key":15904,"_type":173,"children":15905,"markDefs":15910,"style":182},"947f8c612444",[15906],{"_key":15907,"_type":177,"marks":15908,"text":15909},"4c3fd0e3d37f0",[],"EBITDA in H1 2023 is expected to be in the range of $48m-$50m.",[],{"_key":15912,"_type":173,"children":15913,"markDefs":15918,"style":182},"c68132f94ea4",[15914],{"_key":15915,"_type":177,"marks":15916,"text":15917},"a3827828db9d0",[],"During H1 2023, the Group's working capital balances have peaked in May, with net debt at 30 June 2023 expected to be $51m-$52m, which reflects the investment in inventory as previously guided, due to the new orders secured across the Group. Cash generation has accelerated towards the end of the period and will increase further during the second half of the year as current orders are worked off, with management still anticipating a year-end total cash and bank position of between $nil and $25m, dependent on the timing of receivables.",[],{"_key":15920,"_type":173,"children":15921,"markDefs":15926,"style":182},"b3e9ac7de2fa",[15922],{"_key":15923,"_type":177,"marks":15924,"text":15925},"b1e06eb007650",[],"The North America operating segment has reported very strong results in the period, as demand for premium and semi-premium connections has continued to build. As noted above, the segment's US Manufacturing business has reported a performance ahead of expectations as well as a material increase in completion orders for South America. The Advanced Manufacturing businesses have reported improving results, as both the Dearborn and Electronics businesses secure both energy and non-oil and gas orders, in addition to the further easing of supply chain issues. New equipment has been commissioned at Dearborn, which will lead to higher facility utilisation and order completion in the second half of the year.",[],{"_key":15928,"_type":173,"children":15929,"markDefs":15934,"style":182},"673de6c3863e",[15930],{"_key":15931,"_type":177,"marks":15932,"text":15933},"ad9f602d6eec0",[],"Trading within Hunting Titan has been stable, despite volatility within the North America onshore drilling market. The segment is seeing good growth in its international sales profile as US technologies are adopted in key drilling basins in South America, the Middle East and China. Management note that drilling in North America is shifting to oil rather than gas targets given the decline in the natural gas price, which will also support activity in the balance of the year. The segment has continued to commercialise its H-3 Perforating System™ in the period, which has seen good customer acceptance. The segment will shortly launch the self-orientating H-4 Perforating System™, which will contribute to Titan's revenue mix in the second half of the year.",[],{"_key":15936,"_type":173,"children":15937,"markDefs":15942,"style":182},"9639876c15e9",[15938],{"_key":15939,"_type":177,"marks":15940,"text":15941},"dd9f246222e50",[],"The Subsea Technologies operating segment has reported good revenue growth in the period as sales of hydraulic valves and couplings and continued progress on the orders for titanium stress joints have led to a strengthening financial performance. Further sales opportunities in South America and West Africa are being pursued as international market activity strengthens.",[],{"_key":15944,"_type":173,"children":15945,"markDefs":15950,"style":182},"de3843f5fec7",[15946],{"_key":15947,"_type":177,"marks":15948,"text":15949},"1792ad73e5da0",[],"Hunting's EMEA operating segment reports improved revenue as global activity continues to strengthen. The segment has worked on the Tubacex contract for South America, with the order now being shared with the Group's Aberdeen facility, in addition to the Netherlands facility which remains at full capacity. The Organic Oil Recovery technology continues to see strong interest from a range of major international energy companies, with pilot and field trials either underway or being planned for the UK, Europe and the Middle East in the second half the year.",[],{"_key":15952,"_type":173,"children":15953,"markDefs":15958,"style":182},"8528e50dbccd",[15954],{"_key":15955,"_type":177,"marks":15956,"text":15957},"f0cd5de8afef0",[],"The Group's Asia Pacific operating segment has reported a strong improvement in performance in H1 2023 compared to H1 2022 as activity in the Middle East and Asia Pacific recovers from COVID-19. Completion of the CNOOC order secured in Q3 2022 has progressed during the period, which has led to a significant increase in revenue and profitability. Ongoing deliveries of the CNOOC order will continue into Q3 2023, with cash inflows increasing during the second half. The three-year Vedanta order, secured in Q2 2023, will contribute to steady activity through to 2025. During the period, the new threading facility in India has been completed, with final commissioning expected in Q3.",[],{"_type":144,"showCTA":7},{"_key":15961,"_type":193,"body":15962,"cta":15995,"title":15996},"f7cff21f55d2",[15963,15971,15979,15988],{"_key":15964,"_type":173,"children":15965,"markDefs":15970,"style":182},"a2fda2761d99",[15966],{"_key":15967,"_type":177,"marks":15968,"text":15969},"1995b668bebf0",[],"An analyst presentation in respect of the 2023 Half Year Results has been arranged for 9:30am (UK) on Thursday 24 August 2023, at Buchanan, 107 Cheapside, London, EC2V 6DN. Please contact Buchanan to register.",[],{"_key":15972,"_type":173,"children":15973,"markDefs":15978,"style":182},"65c5d856c928",[15974],{"_key":15975,"_type":177,"marks":15976,"text":15977},"c17e83d115b50",[],"After this, Hunting's management will provide a live presentation via the Investor Meet Company platform on 24 August, commencing at 3:30pm (UK). The presentation is open to all existing and potential shareholders. Questions can be submitted prior to this presentation via the Investor Meet Company dashboard up until 9:00am the day before the meeting or at any time during the live presentation. Investors can sign up to Investor Meet Company for free and add to meet Hunting PLC at:",[],{"_key":15980,"_type":173,"children":15981,"markDefs":15986,"style":182},"3500e4712d4a",[15982],{"_key":15983,"_type":177,"marks":15984,"text":9753},"fe13bf2969fe0",[15985],"b932399741ec",[15987],{"_key":15985,"_type":138,"href":9753},{"_key":15989,"_type":173,"children":15990,"markDefs":15994,"style":182},"f42f8f6c277f",[15991],{"_key":15992,"_type":177,"marks":15993,"text":9769},"95edea5766fd0",[],[],{"_type":144,"showCTA":7},"2023 Half Year Results Briefing & Investor Meet Company",{"_key":15998,"_type":193,"body":15999,"cta":16040,"title":16047},"c7043663ffab",[16000,16008,16016,16024,16032],{"_key":16001,"_type":173,"children":16002,"markDefs":16007,"style":182},"9269688ef97b",[16003],{"_key":16004,"_type":177,"marks":16005,"text":16006},"881e824dd6950",[],"The Company is pleased to announce that its Capital Markets Day will be held on Wednesday 13 September 2023, commencing at 2:00pm (UK) \u002F 8:00am (CST). At the event, management will present its Hunting 2030 Strategy. The Hunting 2030 Strategy includes management's strategic ambitions to grow its presence in both traditional energy and energy transition markets, in addition to diversifying the Group's long-term revenue to non-oil and gas markets including power generation, defence and medical sectors.",[],{"_key":16009,"_type":173,"children":16010,"markDefs":16015,"style":182},"b9979bbc29be",[16011],{"_key":16012,"_type":177,"marks":16013,"text":16014},"c92f59cb58f20",[],"Management will provide financial analysis which supports the strategy and will include a focus on strong cash generation, along with details of an updated capital allocation policy, aimed at supporting stronger shareholder distributions and returns.",[],{"_key":16017,"_type":173,"children":16018,"markDefs":16023,"style":182},"4a4d39938f5d",[16019],{"_key":16020,"_type":177,"marks":16021,"text":16022},"69b5e5966a940",[],"Presentations will be delivered by the Company's executive management, including the Group's product line senior leadership team.",[],{"_key":16025,"_type":173,"children":16026,"markDefs":16031,"style":182},"7186e42c5fc6",[16027],{"_key":16028,"_type":177,"marks":16029,"text":16030},"4c3db447785b0",[],"The Capital Markets Day will be held at the London Stock Exchange, 10 Paternoster Square, London, EC4M 7LS.",[],{"_key":16033,"_type":173,"children":16034,"markDefs":16039,"style":182},"6fbcf9c53967",[16035],{"_key":16036,"_type":177,"marks":16037,"text":16038},"0ea0093d19700",[],"To register for the event, please email HTG.2023.CMD@hunting-intl.com.",[],{"CTA":16041,"_type":144,"showCTA":22},[16042],{"_key":16043,"_type":131,"link":16044,"text":16046,"type":138},"bf28a52165b8",{"_type":138,"href":16045,"linkType":15450},"mailto:HTG.2023.CMD@hunting-intl.com","Register for Capital Markets Day","Capital Markets Day",{"_key":16049,"_type":7274,"cta":16050,"introText":5318,"listItems":16051,"title":12208,"type":2555,"width":7291},"2df651400d62",{"_type":144,"showCTA":7},[16052,16055],{"_key":16053,"_type":7279,"description":16054,"title":1134},"7d300a1f0590","Jim Johnson, Chief Executive\nBruce Ferguson, Finance Director\n\nTel: +44 (0) 20 7321 0123\nlon.ir@hunting-intl.com",{"_key":16056,"_type":7279,"description":16057,"title":8934},"6327e5c665d5","Ben Romney\nBarry Archer\nGeorge Pope\n\nTel: +44 (0) 20 7466 5000",{"_key":16059,"_type":193,"body":16060,"cta":16085,"introText":1256,"title":10958},"0637d954884b",[16061,16069,16077],{"_key":16062,"_type":173,"children":16063,"markDefs":16068,"style":182},"4af0d785478c",[16064],{"_key":16065,"_type":177,"marks":16066,"text":16067},"480d4a1932a7",[],"Hunting is a global engineering group that provides precision-manufactured equipment and premium services which adds value for our customers. Established in 1874, it is a premium listed public company traded on the London Stock Exchange. The Company maintains a corporate office in Houston and is headquartered in London. As well as the United Kingdom, the Company has operations in China, Indonesia, Mexico, Netherlands, Norway, Saudi Arabia, Singapore, United Arab Emirates and the United States of America.",[],{"_key":16070,"_type":173,"children":16071,"markDefs":16076,"style":182},"433645312c99",[16072],{"_key":16073,"_type":177,"marks":16074,"text":16075},"d1b62f7507010",[],"The Group reports in US dollars across five operating segments: Hunting Titan; North America; Subsea Technologies; Europe, Middle East and Africa (\"EMEA\") and Asia Pacific.",[],{"_key":16078,"_type":173,"children":16079,"markDefs":16084,"style":182},"a6a572f06338",[16080],{"_key":16081,"_type":177,"marks":16082,"text":16083},"81d9d61a643e0",[],"Hunting PLC's Legal Entity Identifier is 2138008S5FL78ITZRN66.",[],{"_type":144,"showCTA":7},[16087],{"_key":16088,"_type":10023,"asset":16089,"title":16091},"ab30cf19b351",{"_ref":16090,"_type":141},"file-c8e1503e74d7f08f151c539fdf481126e0a04dd3-pdf","Download as pdf","Hunting PLC (LSE:HTG), the global engineering group, today issues a trading update, ahead of its Half Year Results to be released on Thursday 24 August 2023.","2023-07-06T13:49:34.749Z",{"_type":9,"current":16095},"h1-2023-trading-update-and-capital-markets-day",[16097,16099,16101],{"_key":16098,"_ref":7180,"_type":141},"c2aa2ba0f003",{"_key":16100,"_ref":10968,"_type":141},"cc76069245e5",{"_key":16102,"_ref":8781,"_type":141},"e015fadf4065","H1 2023 Trading Update & Capital Markets Day","\u002Fnews\u002Fh1-2023-trading-update-and-capital-markets-day",{"_createdAt":16106,"_id":16107,"_rev":14811,"_type":168,"_updatedAt":116,"body":16108,"categories":16181,"content":16184,"introText":16123,"publishedAt":16220,"slug":16221,"tags":16223,"title":16115,"url":16226},"2023-06-06T17:35:16Z","653400cd-3ef3-4a0f-b695-eab168392d51",[16109,16117,16125,16133,16141,16149,16157,16165,16173],{"_key":16110,"_type":173,"children":16111,"markDefs":16116,"style":182},"eaeca07cd4d9",[16112],{"_key":16113,"_type":177,"marks":16114,"text":16115},"83a546b008580",[179],"Hunting enters wide-ranging 10-year Strategic Alliance Agreement for CRA OCTG",[],{"_key":16118,"_type":173,"children":16119,"markDefs":16124,"style":182},"12dc3181faf9",[16120],{"_key":16121,"_type":177,"marks":16122,"text":16123},"532d4eee86710",[179],"Secures key supply channel for carbon capture, geothermal and traditional energy markets",[],{"_key":16126,"_type":173,"children":16127,"markDefs":16132,"style":182},"ac2998dcd7a9",[16128],{"_key":16129,"_type":177,"marks":16130,"text":16131},"bfe57802f39e0",[],"Hunting PLC (LSE: HTG), the international energy services group, today announces that it has entered into a 10-year Strategic Partnership with Zhejiang Jiuli Hi-Tech Metals Co., Ltd (“Jiuli”) for the supply of corrosion resistant alloys (“CRA”) for Oil Country Tubular Goods (“OCTG”), carbon capture, utilisation and storage (“CCUS”) and geothermal applications.",[],{"_key":16134,"_type":173,"children":16135,"markDefs":16140,"style":182},"2e5d7de2eb0f",[16136],{"_key":16137,"_type":177,"marks":16138,"text":16139},"f24b5b0f89420",[],"CCUS and geothermal are two end-markets that Hunting is pursuing as part of its strategy to become a key supplier to these sectors by providing project developers with critical supply channels and the premium connections required for these increasingly challenging technical projects, which operate in demanding sub-surface environments. All these end-markets are believed to show robust demand and growth in the medium to long term.",[],{"_key":16142,"_type":173,"children":16143,"markDefs":16148,"style":182},"9c2e188bf4f6",[16144],{"_key":16145,"_type":177,"marks":16146,"text":16147},"092b9fe5b2780",[],"The partnership brings together Hunting’s Seal-LockTM premium connection technology with Jiuli’s CRA, such as duplex\u002Fsuper duplex and high nickel-based alloys, for downhole casing and production tubing applications, which meet some of the harshest well conditions in the traditional oil and gas industry as well as the emerging CCUS and geothermal markets. The partnership also adds to Hunting’s existing OCTG product portfolio and enables the supply of the widest range of premium OCTG for its client base, within the international energy and transition markets, as projects accelerate in the key areas of North America, Middle East and Africa and Asia Pacific.",[],{"_key":16150,"_type":173,"children":16151,"markDefs":16156,"style":182},"2fc0c1f92bc2",[16152],{"_key":16153,"_type":177,"marks":16154,"text":16155},"609243fc7c4a0",[],"Zhejiang Jiuli Hi-Tech Metals Co., Ltd., is listed in Shenzhen, China, and was established in 1987. Jiuli specialises in the research and development and production of industrial stainless steel and special alloy pipes, bars and other pipeline products. As a leading CRA supplier in China, its products export to more than 70 countries for oil and gas, photovoltaic energy, solar energy and wind energy applications.",[],{"_key":16158,"_type":173,"children":16159,"markDefs":16164,"style":182},"c1396f05ecf4",[16160],{"_key":16161,"_type":177,"marks":16162,"text":16163},"14e2a02dec0a0",[],"Commenting on trading, Jim Johnson, Chief Executive, said:",[],{"_key":16166,"_type":173,"children":16167,"markDefs":16172,"style":182},"888c59ee328a",[16168],{"_key":16169,"_type":177,"marks":16170,"text":16171},"447748f988030",[216],"\"Our relationship with Jiuli has been strengthening over the past three years and this partnership provides both partners a strategic framework to move up the value chain in offering world class quality premium CRA tubing and casing with Hunting’s Seal-LockTM premium connection to the oil and gas, CCUS and geothermal industries”",[],{"_key":16174,"_type":173,"children":16175,"markDefs":16180,"style":182},"dde4e7a8790e",[16176],{"_key":16177,"_type":177,"marks":16178,"text":16179},"01f29e98b4800",[216],"“Hunting continues to make strong progress in its energy transition strategy, which will be a key area of growth in the coming years.”",[],[16182],{"_key":16183,"_ref":1713,"_type":141},"5e7d8a2891a4",[16185,16193],{"_key":16186,"_type":7274,"cta":16187,"introText":1126,"listItems":16188,"title":12208,"type":2555,"width":7291},"a63bcaa5c211",{"_type":144,"showCTA":7},[16189,16191],{"_key":16190,"_type":7279,"description":16054,"title":1134},"c3001a44ef70",{"_key":16192,"_type":7279,"description":15462,"title":8934},"e06aedaba853",{"_key":16194,"_type":193,"body":16195,"cta":16218,"introText":12234,"title":16219},"12d81124d2f2",[16196,16204,16211],{"_key":16197,"_type":173,"children":16198,"markDefs":16203,"style":182},"5b143a7e0f20",[16199],{"_key":16200,"_type":177,"marks":16201,"text":16202},"fea357d865d80",[],"Hunting PLC is an international energy services provider to the world's leading upstream oil and gas companies. Established in 1874, it is a premium listed public company traded on the London Stock Exchange. The Company maintains a corporate office in Houston and is headquartered in London. As well as the United Kingdom, the Company has operations in Canada, China, Indonesia, Mexico, Netherlands, Norway, Saudi Arabia, Singapore, United Arab Emirates and the United States of America.",[],{"_key":16205,"_type":173,"children":16206,"markDefs":16210,"style":182},"18ce6ff16603",[16207],{"_key":16208,"_type":177,"marks":16209,"text":15591},"8aab36e6872d0",[],[],{"_key":16212,"_type":173,"children":16213,"markDefs":16217,"style":182},"0616bb3b8788",[16214],{"_key":16215,"_type":177,"marks":16216,"text":1309},"9290c3695fa60",[],[],{"_type":144,"showCTA":7},"Notes to editors:","2023-06-05T15:33:00.000Z",{"_type":9,"current":16222},"hunting-enters-wide-ranging-10-year-strategic-alliance-agreement-for-cra-octg",[16224],{"_key":16225,"_ref":14107,"_type":141},"0a3c47f3ee74","\u002Fnews\u002Fhunting-enters-wide-ranging-10-year-strategic-alliance-agreement-for-cra-octg",{"_createdAt":16228,"_id":16229,"_rev":5151,"_type":168,"_updatedAt":116,"body":16230,"categories":16310,"content":16313,"introText":16237,"publishedAt":16348,"slug":16349,"tags":16351,"title":16354,"url":16355},"2023-05-30T08:16:55Z","0aee618c-2818-4c52-9d8e-ee7f9adc7112",[16231,16239,16247,16255,16263,16271,16279,16287,16295,16302],{"_key":16232,"_type":173,"children":16233,"markDefs":16238,"style":182},"9f93726baea2",[16234],{"_key":16235,"_type":177,"marks":16236,"text":16237},"b0500cb47ce10",[179],"Hunting secures $91 million OCTG order from Cairn Oil and Gas, Vedanta Limited",[],{"_key":16240,"_type":173,"children":16241,"markDefs":16246,"style":182},"1cfcb4407da8",[16242],{"_key":16243,"_type":177,"marks":16244,"text":16245},"7ab3e98c53f10",[179],"Sales order book now c. $575 million",[],{"_key":16248,"_type":173,"children":16249,"markDefs":16254,"style":182},"20745c49db3c",[16250],{"_key":16251,"_type":177,"marks":16252,"text":16253},"6b5000363df70",[179],"2023 full year EBITDA revised up to $92-$94 million",[],{"_key":16256,"_type":173,"children":16257,"markDefs":16262,"style":182},"11d7ff6f3a5d",[16258],{"_key":16259,"_type":177,"marks":16260,"text":16261},"b0b4f6d3e093",[],"Hunting PLC (LSE: HTG), the international energy services group, today announces that its Asia Pacific operating segment has won a new, significant Oil Country Tubular Goods (\"OCTG\") contract that management estimates to be worth up to $91 million with Cairn Oil and Gas, Vedanta Limited, for its operations in Rajasthan, India. The contract is for an estimated 100 wells and is to extend up to three years. The OCTG will be supplied with Hunting's proprietary SEAL-LOCK XDTM premium connection.",[],{"_key":16264,"_type":173,"children":16265,"markDefs":16270,"style":182},"d810d66e984e",[16266],{"_key":16267,"_type":177,"marks":16268,"text":16269},"7e85e2f3008d0",[],"This order, again, breaks Hunting's record for the largest single order received for the Group's OCTG and premium connections and supports management's belief that international market sentiment remains extremely strong as governments and countries address the challenges of energy security, the development of domestic supply and post-COVID economic recovery.",[],{"_key":16272,"_type":173,"children":16273,"markDefs":16278,"style":182},"2a03cad8327c",[16274],{"_key":16275,"_type":177,"marks":16276,"text":16277},"df447b6056010",[],"With this order, Hunting's sales order book now is c.$575 million, which represents a material increase since the year-end.",[],{"_key":16280,"_type":173,"children":16281,"markDefs":16286,"style":182},"a248dbbb30bf",[16282],{"_key":16283,"_type":177,"marks":16284,"text":16285},"fd39a6d554010",[179],"2023 Full Year Guidance",[],{"_key":16288,"_type":173,"children":16289,"markDefs":16294,"style":182},"60de6955b8e7",[16290],{"_key":16291,"_type":177,"marks":16292,"text":16293},"01e2bdabb0540",[],"Based on the timing of the first deliveries of this order, management now believes that 2023 full year EBITDA will be in the range of $92-$94 million, which represents a further increase to the guidance issued at its 2022 full year results in March 2023. Management also believes that the year-end guidance for cash and bank remains unchanged.",[],{"_key":16296,"_type":173,"children":16297,"markDefs":16301,"style":182},"5b67ca850a91",[16298],{"_key":16299,"_type":177,"marks":16300,"text":16163},"cad98afd14cc0",[179],[],{"_key":16303,"_type":173,"children":16304,"markDefs":16309,"style":182},"fbd74e09893b",[16305],{"_key":16306,"_type":177,"marks":16307,"text":16308},"916e3aa0788b0",[],"\"Hunting's successful run of significant OCTG and Subsea orders since H2 2022 demonstrates that our technology and global footprint is well positioned to deliver significant growth in the medium term. US market activity remains stable and with the orders received for China, Guyana, Brazil and now India, Hunting continues to see a strong growth profile given our standing and recognition with major energy companies, coupled with the strong international market sentiment being reported in many regions.\"",[],[16311],{"_key":16312,"_ref":1713,"_type":141},"e7ebd2d94ea6",[16314,16323],{"_key":16315,"_type":7274,"cta":16316,"introText":1126,"listItems":16317,"title":12208,"type":2555,"width":7291},"eedf1a8c1e50",{"_type":144,"showCTA":7},[16318,16320],{"_key":16319,"_type":7279,"description":16054,"title":1134},"9768d1c5380c",{"_key":16321,"_type":7279,"description":16322,"title":8934},"70334ade9229","Ben Romney\nGeorge Pope\n\nTel: +44 (0) 20 7466 5000\n\n",{"_key":16324,"_type":193,"body":16325,"cta":16347,"introText":1256,"title":15491},"b100ae849780",[16326,16333,16340],{"_key":16327,"_type":173,"children":16328,"markDefs":16332,"style":182},"d1f31d901f7d",[16329],{"_key":16330,"_type":177,"marks":16331,"text":16202},"21d60c20e4c00",[],[],{"_key":16334,"_type":173,"children":16335,"markDefs":16339,"style":182},"dc7b4d4cce9a",[16336],{"_key":16337,"_type":177,"marks":16338,"text":15591},"862d8dbfbbe30",[],[],{"_key":16341,"_type":173,"children":16342,"markDefs":16346,"style":182},"14278a369492",[16343],{"_key":16344,"_type":177,"marks":16345,"text":16083},"404d0859cc3b0",[],[],{"_type":144,"showCTA":7},"2023-05-30T08:16:00.000Z",{"_type":9,"current":16350},"major-octg-order-and-revised-2023-full-year-guidance",[16352],{"_key":16353,"_ref":7180,"_type":141},"aeef491981f2","Major OCTG order and revised 2023 full year guidance","\u002Fnews\u002Fmajor-octg-order-and-revised-2023-full-year-guidance",{"_createdAt":16357,"_id":16358,"_rev":16359,"_type":168,"_updatedAt":116,"body":16360,"categories":16401,"content":16404,"introText":16452,"mainImage":16453,"publishedAt":16457,"slug":16458,"tags":16460,"title":16464,"url":16465},"2023-04-20T10:02:31Z","8e7375d5-6634-47c4-92d5-9154d897098b","DBMO57ZIr7O8zFikjHd5F6",[16361,16369,16377,16385,16393],{"_key":16362,"_type":173,"children":16363,"markDefs":16368,"style":182},"cf41f5114f37",[16364],{"_key":16365,"_type":177,"marks":16366,"text":16367},"15a65dad70750",[],"We are delighted to welcome Eric Hendry to the Well Intervention team as the Rental and Service Manager. Eric held various global technical positions spanning more than forty years. Over the course of his career, he has worked for a number of oilfield service companies, including Schlumberger, Weatherford, Impact Selector International, and National Oilwell Varco.",[],{"_key":16370,"_type":173,"children":16371,"markDefs":16376,"style":182},"20b765c08202",[16372],{"_key":16373,"_type":177,"marks":16374,"text":16375},"4f5858c4d81b0",[],"Eric is based in our Badentoy Portlethen facility and is in charge of promoting growth, developing a comprehensive strategy, and overseeing the rental, service, and client asset units.",[],{"_key":16378,"_type":173,"children":16379,"markDefs":16384,"style":182},"d48f28f75b4d",[16380],{"_key":16381,"_type":177,"marks":16382,"text":16383},"57f8508584bb0",[],"Eric said: \"I was drawn to Hunting because of its impressive innovative technological advances, particularly its ESSV technology solution for wireline safety. As someone who has spent most of my career in technical capacities worldwide, I have the right skill set for this position.",[],{"_key":16386,"_type":173,"children":16387,"markDefs":16392,"style":182},"fdedf3f71423",[16388],{"_key":16389,"_type":177,"marks":16390,"text":16391},"372a2204528d0",[],"As capital expenditures have reduced and turnaround requirements have become more demanding, customers are less likely to purchase equipment as they once did. Hunting is well-positioned to fulfil industry needs. I look forward to playing a significant role in the division's growth\".",[],{"_key":16394,"_type":173,"children":16395,"markDefs":16400,"style":182},"d1d5f27c2104",[16396],{"_key":16397,"_type":177,"marks":16398,"text":16399},"41bb281dd7e70",[],"Rental and service operations at Hunting's facilities worldwide support long- and short-term customer activity. Furthermore, Hunting provides highly qualified technicians, pressure testing, recertification, and service capabilities, and in some cases, management of customer owned PCE assets. By managing maintenance and readiness requirements, the service provider can focus on their core revenue-generating activities.",[],[16402],{"_key":16403,"_ref":1713,"_type":141},"cb96b4e7954d",[16405],{"_key":16406,"_type":193,"body":16407,"cta":16450,"title":16451},"4c6cb9d317ee",[16408,16420,16427,16435,16443],{"_key":16409,"_type":173,"children":16410,"markDefs":16419,"style":182},"a44b83ac7baf",[16411,16415],{"_key":16412,"_type":177,"marks":16413,"text":16414},"60bd9c6a4fa40",[179],"Photo Caption(s): ",{"_key":16416,"_type":177,"marks":16417,"text":16418},"60bd9c6a4fa41",[],"Rental and Service Manager – Well Intervention, Eric Hendry",[],{"_key":16421,"_type":173,"children":16422,"markDefs":16426,"style":182},"e136c640c267",[16423],{"_key":16424,"_type":177,"marks":16425,"text":12234},"2b7bc9041bec0",[179],[],{"_key":16428,"_type":173,"children":16429,"markDefs":16434,"style":182},"5a3c090c1021",[16430],{"_key":16431,"_type":177,"marks":16432,"text":16433},"593dba83c7260",[],"Hunting PLC is an international energy services provider to the world's leading upstream oil and gas companies. Established in 1874, it is a premium-listed, public company traded on the London Stock Exchange. The Company maintains a corporate office in Houston and has its headquarters in London. As well as the United Kingdom, the Company has principal operations in Canada, China, Indonesia, Mexico, Netherlands, Singapore, United Arab Emirates and the United States of America.",[],{"_key":16436,"_type":173,"children":16437,"markDefs":16442,"style":182},"5e456bab1202",[16438],{"_key":16439,"_type":177,"marks":16440,"text":16441},"16733941ac8e0",[],"From 1 January 2023, Hunting reports across five operating segments: Hunting Titan, North America, Subsea Technologies, Middle East and Africa (“EMEA”) and Asia Pacific.",[],{"_key":16444,"_type":173,"children":16445,"markDefs":16449,"style":182},"df13b7e84efd",[16446],{"_key":16447,"_type":177,"marks":16448,"text":1309},"dee7396826a40",[],[],{"_type":144,"showCTA":7},"For Editors","Hunting Energy Services Ltd. (Hunting) has announced a key appointment for its well intervention rental division as it continues to grow and expand into new markets.",{"_type":146,"alt":16454,"asset":16455},"Eric Hendry Headshot",{"_ref":16456,"_type":141},"image-3da7b642446a4ddf530635b9ec26a8672806476f-7283x4855-jpg","2023-04-20T10:10:17.049Z",{"_type":9,"current":16459},"hunting-strengthens-growth-plans-with-key-appointment",[16461],{"_key":16462,"_ref":16463,"_type":141},"c060cc8efd1a","3afc00bf-8b78-4602-af78-97cb963ac739","Hunting Strengthens Growth Plans with Key Appointment","\u002Fnews\u002Fhunting-strengthens-growth-plans-with-key-appointment",{"_createdAt":16467,"_id":16468,"_rev":12607,"_type":168,"_updatedAt":116,"categories":16469,"content":16471,"downloads":16693,"introText":16697,"publishedAt":16698,"slug":16699,"tags":16701,"title":16704,"url":16705},"2023-04-19T08:05:25Z","dd983f0f-eb06-44cf-8f0b-35a87105c56d",[16470],{"_key":12008,"_ref":1713,"_type":141},[16472,16481,16509,16562,16650,16662,16668],{"_key":12011,"_type":7274,"cta":16473,"listItems":16474,"title":1339,"type":2555,"width":7291},{"_type":144,"showCTA":7},[16475,16477,16479],{"_key":12015,"_type":7279,"title":16476},"Strong start to the year with EBITDA of $22.6 million during Q1 2023.",{"_key":12018,"_type":7279,"title":16478},"Sales order book remaining strong at c.$0.5 billion.",{"_key":12021,"_type":7279,"title":16480},"North America reports a strong performance, driven by domestic and international orders completed.",{"_key":12036,"_type":193,"body":16482,"cta":16507,"introText":16508},[16483,16491,16499],{"_key":16484,"_type":173,"children":16485,"markDefs":16490,"style":182},"237631e33292",[16486],{"_key":16487,"_type":177,"marks":16488,"text":16489},"7844206c78910",[],"“Hunting has begun 2023 strongly with an EBITDA ahead of management’s expectations. March 2023 was a particularly strong month as international orders were completed within the US Manufacturing business unit. Activity across the global energy industry is robust with opportunities in oil and gas, carbon capture and geothermal developments accelerating as post-COVID growth, energy security requirements and energy transition legislation is announced.\"",[],{"_key":16492,"_type":173,"children":16493,"markDefs":16498,"style":182},"9b77cce032b1",[16494],{"_key":16495,"_type":177,"marks":16496,"text":16497},"3c409d5166710",[],"“The Group’s strong sales order book remains materially unchanged at c.$0.5 billion, as new orders have been secured in the period.\"",[],{"_key":16500,"_type":173,"children":16501,"markDefs":16506,"style":182},"a4de98cbefe8",[16502],{"_key":16503,"_type":177,"marks":16504,"text":16505},"082c8c6f9b0a0",[],"“In summary, at this point in the year, the Board is comfortable with market expectations, and reiterates its expectations for continued growth in year-on-year revenue and EBITDA, as previously indicated at the Group’s 2022 full year results.”",[],{"_type":144,"showCTA":7},"Commenting on Q1 2023 trading and the market outlook, Hunting’s Chief Executive, Jim Johnson said:",{"_key":16510,"_type":193,"body":16511,"cta":16560,"introText":16561,"title":10606},"24b14761cee9",[16512,16520,16528,16536,16544,16552],{"_key":16513,"_type":173,"children":16514,"markDefs":16519,"style":182},"1924f38f8b67",[16515],{"_key":16516,"_type":177,"marks":16517,"text":16518},"fd266be517c70",[],"As previously indicated, working capital has increased in the quarter consistent with the ramp up in activity, with the Group moving into a net debt position in the period. Working capital is expected to peak during H1 2023, with net debt in the range $30m - $50m targeted by the end of June 2023, followed by cash generation in H2 2023, with management targeting positive cash and bank by year-end. The final dividend recommended for 2022 of 4.5 cents per share is due for payment on 12 May 2023, which will absorb c.$7.2 million.",[],{"_key":16521,"_type":173,"children":16522,"markDefs":16527,"style":182},"3dac1dd4bf22",[16523],{"_key":16524,"_type":177,"marks":16525,"text":16526},"a1699bdf367c0",[],"Hunting Titan has traded in line with expectations during the quarter, driven by North American and international demand, despite the marginally lower US onshore rig count since the year-end. Adoption of the H-3 Perforating System has continued to increase within the US market, which has supported margin improvement within the segment. International sales, which include individual components and systems, continue to accelerate as US drilling techniques are adopted globally, in particular in areas such as South America and the Middle East.",[],{"_key":16529,"_type":173,"children":16530,"markDefs":16535,"style":182},"3b881365e87f",[16531],{"_key":16532,"_type":177,"marks":16533,"text":16534},"f6a7a31db6d30",[],"The North America operating segment, which now excludes the Group’s Subsea Technologies interests, has reported a particularly strong start to the year as new orders for premium connections and accessories have been secured. Orders received have been for both the domestic US and Canada markets as well as international activity, including South America where offshore drilling developments in Brazil and Guyana are expanding. The Group’s Advanced Manufacturing businesses report new order wins in both energy and non- oil and gas industries. As part of the Group’s accelerating efforts in the geothermal and carbon capture sub- segments of the global energy industry, testing of the Group’s proprietary connection technology has started, in order to align Hunting’s products with the operating conditions of carbon capture injection projects.",[],{"_key":16537,"_type":173,"children":16538,"markDefs":16543,"style":182},"7b90b3f37894",[16539],{"_key":16540,"_type":177,"marks":16541,"text":16542},"24e09b2dbe470",[],"Hunting’s newly formed Subsea Technologies operating segment has traded ahead of management’s expectations as recently secured orders for titanium and steel stress joints for FPSO operations in South America have started to be completed. The segment’s Stafford and Enpro businesses report increased levels of enquiries as momentum in the offshore segment of the global oil and gas industry increases.",[],{"_key":16545,"_type":173,"children":16546,"markDefs":16551,"style":182},"4beda7ed81ab",[16547],{"_key":16548,"_type":177,"marks":16549,"text":16550},"a49ba4bbb1360",[],"The EMEA operating segment has reported a good start to the year, with the Tubacex order continuing in the Netherlands and UK. The segment has reported a broadly break-even result in the year-to-date, reflecting the improving market environment. The Group’s licenced Organic Oil Recovery technology has reported good results from pilot tests being completed by a range of clients. Management believe that sizable orders will be received in 2023 as major field treatments commence.",[],{"_key":16553,"_type":173,"children":16554,"markDefs":16559,"style":182},"b5051438f888",[16555],{"_key":16556,"_type":177,"marks":16557,"text":16558},"8ad0a26396320",[],"Hunting’s Asia Pacific operating segment reports strong growth in the year-to-date as activity in the Middle East, Africa and Asia Pacific increases. Tender activity is likely to reach pre-pandemic levels during the year. The segment has continued work on the CNOOC contract in the period, with deliveries expected through to the end of Q3 2023.",[],{"_type":144,"showCTA":7},"EBITDA in Q1 2023 was $22.6 million, which compares to $6.7 million in Q1 2022 and $15.8 million in Q4 2022. EBITDA margin has strengthened in the reporting period driven by higher facility utilisation and some improvements to pricing, and is in line with market guidance of c.10% for the year as a whole.",{"_key":16563,"_type":268,"body":16564,"introText":16573,"tables":16574,"title":16649},"cc6c534f54a8",[16565],{"_key":16566,"_type":173,"children":16567,"markDefs":16572,"style":182},"f623427fcad5",[16568],{"_key":16569,"_type":177,"marks":16570,"text":16571},"f86c24cd92fb0",[],"From 1 January 2023, the Group is now reporting across five operating segments: Hunting Titan, North America, Subsea Technologies, EMEA and Asia Pacific. The following information presents the Group’s prior period results based on this new reporting format.",[],"Year ended 31 December 2022",[16575],{"_key":16576,"_type":289,"headerAlignment":125,"layout":16577,"table":16578,"type":289},"f4a3637064e5","auto",{"rows":16579},[16580,16590,16600,16609,16620,16629,16638],{"_key":16581,"_type":296,"cells":16582},"b7f416ad-ca04-4e36-b31b-ad453e155eb2",[180,16583,16584,16585,16586,16587,16588,16589],"Total Segmental Revenue $m","Inter- segment revenue $m","Total external revenue $m","EBITDA $m","Adjusted result $m","Adjusting items $m","Reported result $m",{"_key":16591,"_type":296,"cells":16592},"f44bfd9f-320d-496c-89ce-d5ab3d2fc2cb",[16593,16594,16595,16596,5863,16597,16598,16599],"Hunting Titan","266.0","(8.2)","257.8","15.9","(5.6)","10.3",{"_key":16601,"_type":296,"cells":16602},"21ddf881-c2c3-4748-a253-148e290801f0",[16603,16604,16605,16606,16607,16608,2972,16608],"North America","280.6","(24.5)","256.1","26.7","9.2",{"_key":16610,"_type":296,"cells":16611},"06110124-531f-4783-b374-33c9cfbec2a5",[16612,16613,16614,16615,16616,16617,16618,16619],"Subsea Technologies","69.1","(0.1)","69.0","3.4","(1.1)","(7.0)","(8.1)",{"_key":16621,"_type":296,"cells":16622},"a38e030d-5693-4d37-a183-8331c78b7cb8",[16623,16624,16625,16626,16627,16628,2972,16628],"EMEA","71.5","(2.2)","69.3","(2.1)","(6.0)",{"_key":16630,"_type":296,"cells":16631},"52f8957f-3669-4f42-ba16-325d28a80a32",[16632,16633,16634,16635,16636,16637,2972,16637],"Asia Pacific","80.4","(6.8)","73.6","(0.7)","(3.4)",{"_key":16639,"_type":296,"cells":16640},"bce1a84b-0d9d-4151-917e-83fc70cddc38",[16641,16642,16643,16644,16645,16646,16647,16648],"Total from operations","767.6","(41.8)","725.8","52.0","14.6","(12.6)","2.0","Prior Period Financial Information",{"_key":12186,"_type":193,"body":16651,"cta":16660,"title":16661},[16652],{"_key":16653,"_type":173,"children":16654,"markDefs":16659,"style":182},"306d37e33969",[16655],{"_key":16656,"_type":177,"marks":16657,"text":16658},"5a02c063a80b0",[],"Hunting PLC’s next Trading Statement will be announced on Thursday 6 July 2023.",[],{"_type":144,"showCTA":7},"Date of H1 2023 Trading Statement",{"_key":12199,"_type":7274,"cta":16663,"introText":1126,"listItems":16664,"title":12208,"type":2555,"width":7291},{"_type":144,"showCTA":7},[16665,16666],{"_key":12203,"_type":7279,"description":15753,"title":1134},{"_key":12205,"_type":7279,"description":16667,"title":8934},"Ben Romney \nJon Krinks\n\nTel: +44 (0) 20 7466 5000",{"_key":12210,"_type":193,"body":16669,"cta":16692,"introText":12234,"title":10958},[16670,16677,16685],{"_key":16671,"_type":173,"children":16672,"markDefs":16676,"style":182},"cc10b0089394",[16673],{"_key":16674,"_type":177,"marks":16675,"text":16202},"105a7682a6de0",[],[],{"_key":16678,"_type":173,"children":16679,"markDefs":16684,"style":182},"6c016b41d6ae",[16680],{"_key":16681,"_type":177,"marks":16682,"text":16683},"4560d1a6b2310",[],"The Group reports in US dollars across five segments: Hunting Titan; North America; Subsea Technologies; Europe, Middle East and Africa (“EMEA”) and Asia Pacific.",[],{"_key":16686,"_type":173,"children":16687,"markDefs":16691,"style":182},"145a36042ae7",[16688],{"_key":16689,"_type":177,"marks":16690,"text":1309},"0480c40300f30",[],[],{"_type":144,"showCTA":7},[16694],{"_key":12237,"_type":10023,"asset":16695,"title":12240},{"_ref":16696,"_type":141},"file-8688eadc38475773a9e0ca165e524a292aacc898-pdf","Hunting PLC (LSE:HTG), the international energy services group, issues the following Trading Update for Q1 2023, ahead of its Annual General Meeting that will take place today at 10:30a.m. BST in London.","2023-04-19T07:00:00.000Z",{"_type":9,"current":16700},"agm-and-q1-2023-trading-update",[16702,16703],{"_key":12247,"_ref":7180,"_type":141},{"_key":12249,"_ref":10968,"_type":141},"AGM and Q1 2023 Trading Update","\u002Fnews\u002Fagm-and-q1-2023-trading-update",{"_createdAt":16707,"_id":16708,"_rev":16709,"_type":168,"_updatedAt":116,"categories":16710,"content":16713,"downloads":16885,"introText":16890,"publishedAt":16891,"slug":16892,"tags":16894,"title":16897,"url":16898},"2023-03-02T08:08:53Z","02a6a1b5-c755-4480-b003-8ba300f220d0","pWgyghzhJBYjhJ3z5NcBgA",[16711],{"_key":16712,"_ref":1713,"_type":141},"ad537f55a931",[16714,16727,16752,16773,16788,16814,16825,16836,16849,16859],{"_key":16715,"_type":193,"body":16716,"cta":16725,"introText":16726,"title":1134},"018169303413",[16717],{"_key":16718,"_type":173,"children":16719,"markDefs":16724,"style":182},"831f3a7f3c4f",[16720],{"_key":16721,"_type":177,"marks":16722,"text":16723},"daf7a4c418d00",[],"The highlights of the Hunting 2030 Strategy are detailed below and will be expanded upon at a Capital Markets Day to be hosted in September 2023.",[],{"_type":144,"showCTA":7},"(“Hunting” or the “Company” or the “Group”)",{"_key":16728,"_type":7274,"cta":16729,"listItems":16730,"title":529,"type":2555,"width":7291},"302d9dcd1e8c",{"_type":144,"showCTA":7},[16731,16734,16737,16740,16743,16746,16749],{"_key":16732,"_type":7279,"title":16733},"247a2de83ea6","Continue to capitalise on Hunting’s proven capabilities in energy services;",{"_key":16735,"_type":7279,"title":16736},"7284b30cb4d4","Stimulate further growth, rebuild baseload earnings and stabilise profitability:",{"_key":16738,"_type":7279,"title":16739},"950314724793","Supported by the strong outlook for global oil and gas sales (North America, Europe, Middle East and Asia Pacific);",{"_key":16741,"_type":7279,"title":16742},"fca2be6eeee0","Furthered through diversifying revenue across non-oil and gas sub-sectors where the Group can leverage existing expertise;",{"_key":16744,"_type":7279,"title":16745},"5559ef32a2e5","Delivered through both organic and inorganic growth opportunities;",{"_key":16747,"_type":7279,"title":16748},"859a83131c8a","Resulting in a long-term EBITDA margin target of 15%; and",{"_key":16750,"_type":7279,"title":16751},"3caed0b776fb","Sustainable and growing dividend policy targeting an average increase of c.10% per annum until the end of 2030.",{"_key":16753,"_type":193,"body":16754,"cta":16771,"subHeading":16772},"6a44107aac58",[16755,16763],{"_key":16756,"_type":173,"children":16757,"markDefs":16762,"style":182},"3fd2ec4d71fa",[16758],{"_key":16759,"_type":177,"marks":16760,"text":16761},"0b390f15e6c9",[],"“The Board has set a targeted medium-term strategy that derives revenue from a wider range of sectors including oil and gas, as well as the wider energy industry and other sectors requiring precision engineering and systems design, supported by the Group’s proprietary technology and sector leading expertise. This strategy will stimulate new growth and rebuild a baseload of earnings to establish greater resilience to the cyclicality of the oil and gas industry, which will in turn lead to more stable earnings and increased investment returns in the medium term.\"",[],{"_key":16764,"_type":173,"children":16765,"markDefs":16770,"style":182},"f495169c1523",[16766],{"_key":16767,"_type":177,"marks":16768,"text":16769},"ad27a60d237d0",[],"“The evolution of the Group’s strategy is underpinned by its established position as a manufacturer of world-class precision engineered products across multiple sectors and the belief that Hunting can achieve strong organic growth within existing and complementary sectors through an enhanced strategic focus on compelling growth markets that lend themselves to Hunting’s existing expertise.”",[],{"_type":144,"showCTA":7},"Commenting on Hunting’s 2030 Strategy, Chief Executive Jim Johnson, said:",{"_key":16774,"_type":7274,"cta":16775,"introText":16776,"listItems":16777,"title":16787,"type":2555,"width":7291},"0938105dc266",{"_type":144,"showCTA":7},"Continued focus on precision engineering to service the global oil and gas market",[16778,16781,16784],{"_key":16779,"_type":7279,"title":16780},"17c96991463a","Primary focus remains on the manufacturing of high-value, energy services’ products and technology for Hunting’s core oil and gas market; of which",{"_key":16782,"_type":7279,"title":16783},"9fe56391a055","Premium connections, OCTG, accessories manufacturing and well intervention tools will underpin revenue and profitability over the short and medium term, driven by a continued focus on domestic and regional energy security and following years of material underinvestment in oil and gas production;",{"_key":16785,"_type":7279,"title":16786},"9c6226613feb","Cash flows from core operations will fund new investments in both the oil and gas sector as well as wider opportunities.","Strategic Initiatives",{"_key":16789,"_type":7274,"cta":16790,"introText":16791,"listItems":16792,"title":16787,"type":2555,"width":7291},"bdb6024f692c",{"_type":144,"showCTA":7},"Growth of Subsea Technologies operating segment",[16793,16796,16799,16802,16805,16808,16811],{"_key":16794,"_type":7279,"title":16795},"61e4a5fd9312","Subsea Technologies growth to be achieved both organically and inorganically;",{"_key":16797,"_type":7279,"title":16798},"19b82ca9e4b5","Since 2009, the Company has acquired a number of key businesses:",{"_key":16800,"_type":7279,"title":16801},"9f731d300045","National Coupling Company – a key supplier of hydraulic valves and couplings to deep water projects;",{"_key":16803,"_type":7279,"title":16804},"e759a0719eee","RTI Energy Services – a manufacturer of titanium and steel stress joints, which are applied to FPSOs; and",{"_key":16806,"_type":7279,"title":16807},"78c8f7719306","Enpro Subsea – a developer of modular deep water production and intervention equipment.",{"_key":16809,"_type":7279,"title":16810},"95ffe6175e63","These businesses form Hunting’s core Subsea Technologies offering;",{"_key":16812,"_type":7279,"title":16813},"18ff1d09da32","The Group is also focusing on new opportunities across the energy transition, plug and abandonment and integrated subsea systems sectors.",{"_key":16815,"_type":7274,"cta":16816,"introText":16817,"listItems":16818,"title":16787,"type":2555,"width":7291},"fa8dcd83f75fde46b79548bcb7f594eb",{"_type":144,"showCTA":7},"Development of Energy Transition market position",[16819,16821,16823],{"_key":16794,"_type":7279,"title":16820},"Establishment of Energy Transition sales group previously announced in December 2022;",{"_key":16797,"_type":7279,"title":16822},"Strategic focus on cultivating a material revenue stream from the emerging opportunities within the geothermal and carbon capture and storage sectors;",{"_key":16800,"_type":7279,"title":16824},"Near and medium term growth opportunities in Asia Pacific and North America, where a significant number of developments have been sanctioned.",{"_key":16826,"_type":7274,"cta":16827,"introText":16828,"listItems":16829,"title":16787,"type":2555,"width":7291},"ac8ff6c10afcab200270d643f6dd2bd3",{"_type":144,"showCTA":7},"Continued development of non-oil and gas revenue",[16830,16832,16834],{"_key":16794,"_type":7279,"title":16831},"Continued diversification within Hunting’s Advanced Manufacturing business, leveraging its expertise in precision engineering and specialist electronics;",{"_key":16797,"_type":7279,"title":16833},"Both the Dearborn and Electronics businesses have grown their respective order books over the past 12 months (>$121m with >$40m from non-oil and gas sectors in areas such as defence and aerospace);",{"_key":16800,"_type":7279,"title":16835},"Anticipate further material growth from our existing business, supplemented by targeted inorganic growth.",{"_key":16837,"_type":193,"body":16838,"cta":16847,"title":16848},"b4a7cfccbb7d",[16839],{"_key":16840,"_type":173,"children":16841,"markDefs":16846,"style":182},"48df1656eeb9",[16842],{"_key":16843,"_type":177,"marks":16844,"text":16845},"d743c4313d1b0",[],"Hunting will present the details of the Hunting 2030 Strategy at a Capital Markets Day to be held in London in September 2023. Further details of this event will be provided in due course.",[],{"_type":144,"showCTA":7},"Notice of Capital Markets Day",{"_key":16850,"_type":7274,"cta":16851,"introText":16852,"listItems":16853,"title":12208,"type":2555,"width":7291},"a0c7e280cf87",{"_type":144,"showCTA":7},"For further information please contact:\n\n",[16854,16856],{"_key":16855,"_type":7279,"description":16054,"title":1134},"a3254f458600",{"_key":16857,"_type":7279,"description":16858,"title":8934},"c97ef0a0e122","Ben Romney\nJon Krinks\n\nTel: +44 (0) 20 7466 5000",{"_key":16860,"_type":193,"body":16861,"cta":16884,"introText":12234,"title":10958},"ffa7dd6b6523",[16862,16870,16877],{"_key":16863,"_type":173,"children":16864,"markDefs":16869,"style":182},"5e9b979241ba",[16865],{"_key":16866,"_type":177,"marks":16867,"text":16868},"1ff89169a0570",[],"Hunting PLC is an international energy services provider to the world's leading upstream oil and gas companies. Established in 1874, it is a premium-listed, public company traded on the London Stock Exchange. The Company maintains a corporate office in Houston and has its headquarters in London. As well as the United Kingdom, the Company has principal operations in Canada, China, Indonesia, Mexico, Netherlands, Singapore, United Arab Emirates and the United States of America.",[],{"_key":16871,"_type":173,"children":16872,"markDefs":16876,"style":182},"910eb027b74c",[16873],{"_key":16874,"_type":177,"marks":16875,"text":16441},"78e808c55f410",[],[],{"_key":16878,"_type":173,"children":16879,"markDefs":16883,"style":182},"4106581d9a83",[16880],{"_key":16881,"_type":177,"marks":16882,"text":1309},"4cdaef31c5cf0",[],[],{"_type":144,"showCTA":7},[16886],{"_key":16887,"_type":10023,"asset":16888,"title":15497},"6fb8f0b2e0d1",{"_ref":16889,"_type":141},"file-bf4bc9abcd27215a2bfaeb740838a8dd94416b32-pdf","Hunting PLC (LSE:HTG), the international energy services group with proven capabilities for energy and beyond, today announces the launch of the Hunting 2030 strategy, a broad-based strategy to grow and evolve the company through the remainder of the decade and beyond.","2023-03-02T07:01:08.775Z",{"_type":9,"current":16893},"launch-of-hunting-2030-strategy-and-capital-markets-day",[16895],{"_key":16896,"_ref":7180,"_type":141},"0ee369ec7e0c","Launch of Hunting 2030 strategy & Capital Markets 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Please see the 2022 Annual Report and Accounts pages 240 to 246.",[],{"_key":17256,"_type":173,"children":17257,"markDefs":17262,"style":182},"d69665994c42",[17258],{"_key":17259,"_type":177,"marks":17260,"text":17261},"7f76c267c1d50",[216],"*** Payable on 12 May 2023 to shareholders on the register on 21 April 2023, subject to approval at the Company’s AGM.",[],{"_key":17264,"_type":173,"children":17265,"markDefs":17269,"style":182},"8c11b335b5ce",[17266],{"_key":17267,"_type":177,"marks":17268,"text":180},"518ea466c5950",[],[],{"_key":17271,"_type":173,"children":17272,"markDefs":17276,"style":182},"d3af2d3706dc",[17273],{"_key":17274,"_type":177,"marks":17275,"text":201},"93bd6abf954c",[179],[],{"_key":17278,"_type":173,"children":17279,"markDefs":17284,"style":13454},"e4892e174fa7",[17280],{"_key":17281,"_type":177,"marks":17282,"text":17283},"03f38b1299e50",[216],"“I am pleased with the Group’s performance this year, delivering good results in a period of commodity price volatility and macro-economic uncertainty. 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The outlook for natural gas remains strong, as customers of Russia-origin natural gas move to other global LNG suppliers.",[],{"_key":17518,"_type":173,"children":17519,"markDefs":17524,"style":182},"353fac123e74",[17520],{"_key":17521,"_type":177,"marks":17522,"text":17523},"2764128cdbd70",[],"Despite some macro-economic concerns, the re-opening of China and material under investment in new oil and gas production since 2019 will likely lead to continued growth for all industry participants.",[],{"_key":17526,"_type":173,"children":17527,"markDefs":17532,"style":182},"3b35f124a6d0",[17528],{"_key":17529,"_type":177,"marks":17530,"text":17531},"089463fdaecd0",[],"Commentators continue to project an average oil price for the year ahead of between $75 to $100 per barrel, which is a range that will support new activity in all basins globally. Overall, the short to medium term market outlook remains strongly positive given the economic fundamentals driving the global demand for oil and gas.",[],{"_key":17534,"_type":173,"children":17535,"markDefs":17540,"style":182},"e7dd46b2f4db",[17536],{"_key":17537,"_type":177,"marks":17538,"text":17539},"844e689210ab0",[],"For Hunting, all the Group’s businesses are seeing improving demand as onshore and offshore projects increase.",[],{"_key":17542,"_type":173,"children":17543,"markDefs":17548,"style":182},"5fa4dbdd9eb9",[17544],{"_key":17545,"_type":177,"marks":17546,"text":17547},"24ca2baa56cf0",[],"Across North America, investment in drilling is projected to grow further, following a strong performance in 2022. 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These opportunities also extend to Hunting’s OCTG and accessories businesses, which supply many offshore clients with critical components.",[],{"_key":17558,"_type":173,"children":17559,"markDefs":17564,"style":182},"71b115643e50",[17560],{"_key":17561,"_type":177,"marks":17562,"text":17563},"36d54c0185940",[],"The Advanced Manufacturing group has built a robust sales order book during 2022, which reflects our pursuit of non-oil and gas sales as well as our existing energy-focused product lines.",[],{"_key":17566,"_type":173,"children":17567,"markDefs":17572,"style":182},"8d9e1b3519c3",[17568],{"_key":17569,"_type":177,"marks":17570,"text":17571},"f27c584dbb320",[],"With the newly formed Energy Transition sales group, Hunting is also well placed to drive a further diversification in our revenue profile, with a primary focus on geothermal and carbon capture projects, as announced separately today.",[],{"_key":17574,"_type":173,"children":17575,"markDefs":17580,"style":182},"274b86e28028",[17576],{"_key":17577,"_type":177,"marks":17578,"text":17579},"b459b4007ea40",[],"The EMEA and Asia Pacific operating segments continue to see strong increases in enquiries. There is likely to be good progress in the Middle East, as drilling investment increases, which will drive a return to profitability in the year ahead for these segments.",[],{"_key":17582,"_type":173,"children":17583,"markDefs":17588,"style":182},"f5481d1dbf24",[17584],{"_key":17585,"_type":177,"marks":17586,"text":17587},"738dc1bbe3370",[],"In summary, Hunting remains in a good position to invest in the market upturn to grow revenue and profitability in the year ahead. Management is targeting further EBITDA margin expansion as price increases, improved facility utilisation and production efficiencies continue to be pursued.",[],{"_key":17590,"_type":173,"children":17591,"markDefs":17596,"style":182},"3eb40e35d192",[17592],{"_key":17593,"_type":177,"marks":17594,"text":17595},"4714f43ce6e90",[],"Overall, Hunting has demonstrated its resilience during the industry challenges associated with the effect of COVID-19, which is due to Hunting’s committed and skilled workforce, underpinned by a world class HSE performance.",[],{"_key":17598,"_type":173,"children":17599,"markDefs":17604,"style":182},"c912e5fc54a5",[17600],{"_key":17601,"_type":177,"marks":17602,"text":17603},"0889f994c2710",[],"I would like to thank all of our employees for helping to guide Hunting through a particularly challenging period, but now look forward to a new growth phase in our chosen industry and our Company.",[],{"_key":17606,"_type":173,"children":17607,"markDefs":17611,"style":14843},"fe8d73d10b57",[17608],{"_key":17609,"_type":177,"marks":17610,"text":970},"9170ba8325300",[],[],{"_key":17613,"_type":173,"children":17614,"markDefs":17619,"style":182},"3f58b14fe2ce",[17615],{"_key":17616,"_type":177,"marks":17617,"text":17618},"8bf19bd515830",[],"For access to narrative on the Group’s results (incorporating the Chairman’s and Chief Executive’s Statements, Outlook, Market Analysis, Group Review and Segmental Review) for the year ended 31 December 2022 please click on the following link.",[],{"_key":17621,"_type":173,"children":17622,"markDefs":17628,"style":182},"0ec91d1b6e10",[17623],{"_key":17624,"_type":177,"marks":17625,"text":17627},"3e63c855f3b90",[17626],"166bc7907d17","View document",[17629],{"_key":17626,"_type":138,"href":17630},"http:\u002F\u002Fwww.rns-pdf.londonstockexchange.com\u002Frns\u002F5926R_1-2023-3-1.pdf",{"_key":17632,"_type":173,"children":17633,"markDefs":17637,"style":14843},"bda3854200da",[17634],{"_key":17635,"_type":177,"marks":17636,"text":1017},"15d018e3633c0",[],[],{"_key":17639,"_type":173,"children":17640,"markDefs":17645,"style":182},"6416ba02dca2",[17641],{"_key":17642,"_type":177,"marks":17643,"text":17644},"4d8af47a0b260",[],"For access to the Financial Statements and Notes to the Accounts for the year ended 31 December 2022 please click on the following link.",[],{"_key":17647,"_type":173,"children":17648,"markDefs":17653,"style":182},"ae2cd7da180c",[17649],{"_key":17650,"_type":177,"marks":17651,"text":17627},"bd85d1abd2d8",[17652],"52164ec38172",[17654],{"_key":17652,"_type":138,"href":17655},"http:\u002F\u002Fwww.rns-pdf.londonstockexchange.com\u002Frns\u002F5926R_2-2023-3-1.pdf",{"_key":17657,"_type":173,"children":17658,"markDefs":17662,"style":14843},"21eacadc7a61",[17659],{"_key":17660,"_type":177,"marks":17661,"text":3159},"a177e14432f30",[],[],{"_key":17664,"_type":173,"children":17665,"markDefs":17670,"style":182},"848477aaea2e",[17666],{"_key":17667,"_type":177,"marks":17668,"text":17669},"50aa939301480",[],"For access to Hunting’s Key Performance Indicators, Business Model and Strategy, ESG, Risk Management (including Principal Risks), and the Statement of the Directors’ Responsibilities for the year ended 31 December 2022, please click on the following link.",[],{"_key":17672,"_type":173,"children":17673,"markDefs":17678,"style":182},"31a3d5ca5917",[17674],{"_key":17675,"_type":177,"marks":17676,"text":17627},"72740acf183b",[17677],"5955067df404",[17679],{"_key":17677,"_type":138,"href":17680},"http:\u002F\u002Fwww.rns-pdf.londonstockexchange.com\u002Frns\u002F5926R_3-2023-3-1.pdf",{"_key":17682,"_type":173,"children":17683,"markDefs":17687,"style":182},"badf5c1dcbeb",[17684],{"_key":17685,"_type":177,"marks":17686,"text":3192},"129a92786c670",[],[],{"_key":17689,"_type":173,"children":17690,"markDefs":17702,"style":182},"6329db94db24",[17691,17695,17699],{"_key":17692,"_type":177,"marks":17693,"text":17694},"613eca6ca42e0",[216],"The linked documents provide access to all major financial and operational disclosures contained in the Group’s 2022 Annual Report and Accounts. The complete 2022 Annual Report and Accounts will be published on 16 March 2023 and can then be accessed at ",{"_key":17696,"_type":177,"marks":17697,"text":2296},"613eca6ca42e1",[17698,216],"6334c3406f90",{"_key":17700,"_type":177,"marks":17701,"text":3208},"613eca6ca42e2",[216],[17703],{"_key":17698,"_type":138,"href":3211},{"_key":17705,"_type":173,"children":17706,"markDefs":17711,"style":182},"3bb891f5cc10",[17707],{"_key":17708,"_type":177,"marks":17709,"text":17710},"10ba92ac3f960",[],"The financial information set out in the above links does not constitute the Company’s statutory accounts for the years ended 31 December 2022 or 31 December 2021, but is extracted from those accounts. Statutory accounts for 2021 have been delivered to the Registrar of Companies and those for 2022 will be delivered in due course. The auditor has reported on those accounts; their reports were unqualified, did not draw attention to any matter by way of emphasis without qualifying their report and did not contain statements under s498(2) or (3) of the Companies Act 2006. Whilst the financial information included in this preliminary announcement has been computed in accordance with International Financial Reporting Standards, this announcement does not itself contain sufficient information to comply with IFRS.",[],{"_key":17713,"_type":173,"children":17714,"markDefs":17718,"style":14843},"9cb6e93a8de9",[17715],{"_key":17716,"_type":177,"marks":17717,"text":1064},"ae07f7f97d290",[],[],{"_key":17720,"_type":173,"children":17721,"markDefs":17726,"style":182},"75d3999be519",[17722],{"_key":17723,"_type":177,"marks":17724,"text":17725},"7073d06b0ec70",[],"Hunting PLC will host an analyst briefing and webcast at the offices of Buchanan (107 Cheapside, London, EC2V 6DN) on 2 March 2023 commencing at 9:30a.m. GMT.",[],{"_key":17728,"_type":173,"children":17729,"markDefs":17734,"style":182},"1c7cd5148b04",[17730],{"_key":17731,"_type":177,"marks":17732,"text":17733},"100d3de4533e0",[],"The live webcast can be accessed via the following link:",[],{"_key":17736,"_type":173,"children":17737,"markDefs":17743,"style":182},"6d558f213f57",[17738],{"_key":17739,"_type":177,"marks":17740,"text":17742},"f348a0c1f7890",[17741],"a44d5e7bc24d","https:\u002F\u002Fwebcasting.buchanan.uk.com\u002Fbroadcast\u002F63bd5edbdd6e71503201641c",[17744],{"_key":17741,"_type":138,"href":17742},{"_key":17746,"_type":173,"children":17747,"markDefs":17751,"style":182},"8ca68afe4461",[17748],{"_key":17749,"_type":177,"marks":17750,"text":9707},"5a00aa4678820",[],[],{"_key":17753,"_type":173,"children":17754,"markDefs":17758,"style":182},"c2b95fef471f",[17755],{"_key":17756,"_type":177,"marks":17757,"text":1126},"bc26d7aaa63f0",[],[],{"_key":17760,"_type":173,"children":17761,"markDefs":17769,"style":182},"2ad3e870fed6",[17762,17766],{"_key":17763,"_type":177,"marks":17764,"text":17765},"06b753ec05f00",[179],"Hunting PLC\n",{"_key":17767,"_type":177,"marks":17768,"text":7027},"141f02ba24a70",[],[],{"_key":17771,"_type":173,"children":17772,"markDefs":17780,"style":182},"d785bc2836d2",[17773,17777],{"_key":17774,"_type":177,"marks":17775,"text":17776},"12a21bd95fe9",[179],"Tel: +44 (0) 20 7321 0123\n",{"_key":17778,"_type":177,"marks":17779,"text":9826},"b437745f53d1",[],[],{"_key":17782,"_type":173,"children":17783,"markDefs":17792,"style":182},"4e3003dd4fb0",[17784,17788],{"_key":17785,"_type":177,"marks":17786,"text":17787},"8aca2fd01ff90",[179],"Buchanan\n",{"_key":17789,"_type":177,"marks":17790,"text":17791},"731dba1569df0",[],"Ben Romney\nJon Krinks",[],{"_key":17794,"_type":173,"children":17795,"markDefs":17799,"style":182},"f756541789b1",[17796],{"_key":17797,"_type":177,"marks":17798,"text":8958},"63aff3418ad50",[179],[],{"_key":17801,"_type":173,"children":17802,"markDefs":17806,"style":182},"779462cd5353",[17803],{"_key":17804,"_type":177,"marks":17805,"text":180},"56f00e19129d0",[],[],{"_key":17808,"_type":173,"children":17809,"markDefs":17813,"style":14843},"0f19f0514423",[17810],{"_key":17811,"_type":177,"marks":17812,"text":10958},"0eebecd68e6f0",[],[],{"_key":17815,"_type":173,"children":17816,"markDefs":17820,"style":182},"c3d804576995",[17817],{"_key":17818,"_type":177,"marks":17819,"text":1256},"aa9274465dd8",[179],[],{"_key":17822,"_type":173,"children":17823,"markDefs":17828,"style":182},"a2ba6877190e",[17824],{"_key":17825,"_type":177,"marks":17826,"text":17827},"7048452debb50",[],"Hunting PLC is an international energy services provider to the world's leading upstream oil and gas companies. Established in 1874, it is a premium listed public company traded on the London Stock Exchange. The Company maintains a corporate office in Houston and is headquartered in London. As well as the United Kingdom, the Company has principal operations in Canada, China, Indonesia, Mexico, Netherlands, Singapore, United Arab Emirates and the United States of America.",[],{"_key":17830,"_type":173,"children":17831,"markDefs":17836,"style":182},"595e0ade88ca",[17832],{"_key":17833,"_type":177,"marks":17834,"text":17835},"b18595db8f470",[],"For the year ended 31 December 2022, the Group reports across four segments: Hunting Titan, North America, Europe, Middle East and Africa (“EMEA”) and Asia Pacific.",[],{"_key":17838,"_type":173,"children":17839,"markDefs":17844,"style":182},"a7c64ae5aef7",[17840],{"_key":17841,"_type":177,"marks":17842,"text":17843},"b642dbbc7e020",[],"From 1 January 2023, the Group is reporting across five segments: Hunting Titan, North America, Subsea Technologies, Europe, Middle East and Africa (“EMEA”) and Asia 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SEAL-LOCK FLUSH premium connections supplied to a major Geothermal operator in California for extremely corrosive and high temperature geothermal wells.",[],{"_key":17969,"_type":173,"children":17970,"level":955,"listItem":2555,"markDefs":17975,"style":182},"e84381ba07ac",[17971],{"_key":17972,"_type":177,"marks":17973,"text":17974},"3f75334e95240",[],"22CrDuplex grade production strings of various sizes threaded with Hunting SEAL-LOCK premium threaded and coupled connections for highly corrosive and high temperature geothermal wells in the Philippines",[],{"_key":17977,"_type":173,"children":17978,"level":955,"listItem":2555,"markDefs":17983,"style":182},"b4ea1d2c5f41",[17979],{"_key":17980,"_type":177,"marks":17981,"text":17982},"0d7d1b63010a0",[],"API L80 grade Production casing threaded with Hunting’s ISO\u002FPAS 12835:2013 TWCCEP qualified SEAL-LOCK XD connection, supplied to a major Geothermal operator in New Zealand",[],{"_key":17985,"_type":173,"children":17986,"level":955,"listItem":2555,"markDefs":17991,"style":182},"9e980caacb4d",[17987],{"_key":17988,"_type":177,"marks":17989,"text":17990},"2f12ed6d759f0",[],"Hunting has supplied multiple strings of 18 5\u002F8” K55 surface casing threaded with our high compression rated easy make-up SEAL-LOCK BOSS connection to various high enthalpy Geothermal projects in Iceland.",[],{"_key":17993,"_type":173,"children":17994,"level":955,"listItem":2555,"markDefs":17999,"style":182},"a009734047c8",[17995],{"_key":17996,"_type":177,"marks":17997,"text":17998},"9fd5c9e8139b0",[],"Hunting has supplied 13 3\u002F8” L80 casing threaded with our proprietary TEK-LOCK BTC-S connection to a major geothermal operator in New Zealand. Hunting’s TEK-LOCK BTC-S ensures higher compression rating and sealing integrity than standard API BTC connections.",[],{"_key":18001,"_type":173,"children":18002,"level":955,"listItem":2555,"markDefs":18007,"style":182},"dd22f104b6da",[18003],{"_key":18004,"_type":177,"marks":18005,"text":18006},"3d3ec18d5b8d0",[],"Hunting continues to develop new innovative OCTG solutions to Geothermal operators including GRE lined L80 casing threaded with SEAL-LOCK connections for new and work-overs wells. This bespoke and cost effective OCTG connection solution delivers increased corrosion resistance, longer life and increased flow rate solutions to Geothermal operators in Europe",[],[18009],{"_key":17892,"_ref":9905,"_type":141},{"_type":146,"alt":18011,"asset":18012},"render of a pipe connection",{"_ref":18013,"_type":141},"image-0e1dd9aa0c46c5c96f78e15eff2b0040e3614d3c-2560x1600-jpg",{"_type":9,"current":18015},"proprietary-connection-octg-casing-and-tubing",[18017],{"_key":17903,"_ref":14107,"_type":141},"Proprietary Connection OCTG Casing & Tubing","\u002Fnews\u002Fproprietary-connection-octg-casing-and-tubing",{"_createdAt":18021,"_id":18022,"_rev":10063,"_type":168,"_updatedAt":116,"body":18023,"categories":18064,"downloads":18067,"introText":18073,"mainImage":18074,"publishedAt":18077,"slug":18078,"tags":18080,"title":18083,"url":18084},"2023-02-14T12:09:06Z","a0218401-cb19-4033-b39d-459c5ab79eaa",[18024,18032,18040,18048,18056],{"_key":18025,"_type":173,"children":18026,"markDefs":18031,"style":182},"8949738ec7d4",[18027],{"_key":18028,"_type":177,"marks":18029,"text":18030},"92aa0aec8c1a0",[],"This would be Hunting’s first endeavour into the UK geothermal market, with the intention of expanding further into the European geothermal marketplace.",[],{"_key":18033,"_type":173,"children":18034,"markDefs":18039,"style":182},"3b59abcac676",[18035],{"_key":18036,"_type":177,"marks":18037,"text":18038},"0129930f17880",[],"Hunting successfully project managed and transported 20,000ft (approx. 6,100m) of casing to the Eden Geothermal site. 20 of its personnel, including logistics staff, OCTG engineers, manufacturing and operations were involved in the campaign and provided onsite tubular running support. ",[],{"_key":18041,"_type":173,"children":18042,"markDefs":18047,"style":182},"0fc4381b5434",[18043],{"_key":18044,"_type":177,"marks":18045,"text":18046},"db3335070b600",[],"Ian Park Managing Director for HESUK from Hunting said: “We are very excited that our first foray to support the UK’s energy transition is with the pioneering Eden Geothermal project.",[],{"_key":18049,"_type":173,"children":18050,"markDefs":18055,"style":182},"ffa63a4e0c93",[18051],{"_key":18052,"_type":177,"marks":18053,"text":18054},"e236754f97ea0",[],"“There are great synergies for our tubular product line across many of the renewable energy industries including geothermal, making us the ideal choice for this ground-breaking project. We have been able to apply our expert methodology, technical support, logistics and project management skills to deliver our products safely, which has opened the door for us to support further geothermal projects in the future.”",[],{"_key":18057,"_type":173,"children":18058,"markDefs":18063,"style":182},"c6aa8e1e5e27",[18059],{"_key":18060,"_type":177,"marks":18061,"text":18062},"e59d41d78eb30",[],"Max Skerratt, Project Manager for Eden said: ‘’Hunting Energy Services supplied us with all of our casing needs for a 5,277m (MD) geothermal well in granite. The casing was ordered in the middle of the first COVID lockdown however Hunting still managed to deliver all the casing with no delays to the programme. The communication and aftersales service with experienced onsite technicians in order to help us run the casing was a great help. We would not hesitate to use Hunting again for any of our OCTG requirements.’’",[],[18065],{"_key":18066,"_ref":9905,"_type":141},"af64c304dc54",[18068],{"_key":18069,"_type":10023,"asset":18070,"title":18072},"75afdedbd10d",{"_ref":18071,"_type":141},"file-b1baf0b3faacbb591fd8c2caeeab536d416ae921-docx","Hunting - Eden Project press release","Hunting Energy Services (“Hunting”) has provided engineering, manufacturing and logistics expertise to the Eden project.",{"_type":146,"asset":18075},{"_ref":18076,"_type":141},"image-04ecaa026ea9aed2d1f53a4ae177bb4a350cf1b2-4000x3000-jpg","2023-02-20T19:48:00.000Z",{"_type":9,"current":18079},"hunting-enters-uk-geothermal-arena",[18081],{"_key":18082,"_ref":14107,"_type":141},"73bc7b7e26a0","Hunting enters UK geothermal arena supporting the Eden Project","\u002Fnews\u002Fhunting-enters-uk-geothermal-arena",{"_createdAt":18086,"_id":18087,"_rev":18088,"_type":168,"_updatedAt":5612,"content":18089,"mainImage":18374,"publishedAt":18377,"slug":18378,"title":18380,"url":18381},"2024-02-12T20:47:55Z","bf2af581-7356-4927-9a9a-2f10fdeecd54","DBMO57ZIr7O8zFikjHd0W0",[18090,18120,18126],{"_key":18091,"_type":193,"body":18092,"cta":18116,"introText":18117,"subHeading":18118,"title":18119},"181f904c4b4f",[18093,18101,18108],{"_key":18094,"_type":173,"children":18095,"markDefs":18100,"style":182},"a9b67a935a93",[18096],{"_key":18097,"_type":177,"marks":18098,"text":18099},"5bbbaa048cea0",[],"As the Managing Director of Titan Perforating and Instrumentation Division, Jason Mai is a driving force behind the development of cutting-edge solutions. With a passion for technology and a keen eye for market dynamics, Jason leads the charge in ensuring that Titan remains at the forefront of the perforating arena. His role involves navigating the complexities of the completion space, where conventional and unconventional methods converge. Jason's perspective on the role of technology in enhancing efficiency and safety provides a glimpse into the forward-thinking strategies that define Titan's approach. Jason's insights into the company's growth strategies, globally and especially in North America, showcase a commitment to resilience and adaptability.",[],{"_key":18102,"_type":173,"children":18103,"markDefs":18107,"style":182},"85af1f2fdd62",[18104],{"_key":18105,"_type":177,"marks":18106,"text":180},"2f588021c5770",[],[],{"_key":18109,"_type":173,"children":18110,"markDefs":18115,"style":182},"fb92a05fd7a6",[18111],{"_key":18112,"_type":177,"marks":18113,"text":18114},"f3fc18cf077d0",[],"In this interview, we explore how Hunting Titan navigates challenges, embraces innovation, and positions itself as a formidable player in the global energy sector. From international sales trends to the unveiling of the groundbreaking H4 Perforating System, the conversation promises to be a deep dive into the strategies and technologies shaping the future of Hunting Titan. Join us as we uncover the stories, strategies, and innovations that propel the company forward.",[],{"_type":144,"showCTA":7},"In the dynamic landscape of the oil and gas industry, innovation stands as a beacon, guiding companies through challenges and fostering growth. At the forefront of this innovative journey is Jason Mai, the Managing Director of Titan Perforating and Instrumentation Division. He is a seasoned professional bringing a wealth of expertise and insights into the world of perforating technologies, shedding light on Hunting Titan's core business activities, international trends, and its strategic approach to growth.","Managing Director, Titan Perforating, Energetics, and Logging Division","Jason Mai",{"_key":18121,"_type":6777,"cta":18122,"subHeading":18123,"title":18124,"video":18125},"0315c1773749",{"_type":144,"showCTA":7},"Managing Director, Titan Division","Interview with Jason Mai","https:\u002F\u002Fyoutu.be\u002Fr01XVyev-jQ",{"_key":18127,"_type":193,"body":18128,"cta":18373,"title":12938},"0547265412f6",[18129,18141,18148,18160,18167,18179,18186,18198,18205,18216,18223,18234,18241,18249,18256,18267,18274,18285,18292,18304,18311,18322,18329,18340,18347,18358,18365],{"_key":18130,"_type":173,"children":18131,"markDefs":18140,"style":182},"a41d54475539",[18132,18136],{"_key":18133,"_type":177,"marks":18134,"text":18135},"f162aac6a9fc0",[179],"Christopher Williams (Hunting PLC, Marketing):",{"_key":18137,"_type":177,"marks":18138,"text":18139},"270a0029e68f",[]," Thank you for joining us today. To begin, could you provide a comprehensive overview of Hunting Titan's core business activities?",[],{"_key":18142,"_type":173,"children":18143,"markDefs":18147,"style":182},"037b6adecdb1",[18144],{"_key":18145,"_type":177,"marks":18146,"text":180},"163239b7df3d0",[],[],{"_key":18149,"_type":173,"children":18150,"markDefs":18159,"style":182},"4e26e667a86a",[18151,18155],{"_key":18152,"_type":177,"marks":18153,"text":18154},"95f947bcfd980",[179],"Jason Mai (Managing Director Titan Perforating and Instrumentation Division): ",{"_key":18156,"_type":177,"marks":18157,"text":18158},"5c657dec360a",[],"Certainly. At Hunting Titan, we are extensively involved in the perforating arena, not only on the hardware side but also in instrumentation. We have a significant presence in the logging side as well, although I didn't have the chance to delve into that during the presentation. Overall, the Titan brand is quite extensive, capable of supplying almost anything needed in the industry. Technology plays a crucial role, and as it evolves, our portfolio adapts to keep pace with the changes.",[],{"_key":18161,"_type":173,"children":18162,"markDefs":18166,"style":182},"490523a9403f",[18163],{"_key":18164,"_type":177,"marks":18165,"text":180},"5807b147612c0",[],[],{"_key":18168,"_type":173,"children":18169,"markDefs":18178,"style":182},"2c5b51caca46",[18170,18174],{"_key":18171,"_type":177,"marks":18172,"text":18173},"fd3da36d95210",[179],"Christopher Williams:",{"_key":18175,"_type":177,"marks":18176,"text":18177},"07398e9f7a33",[]," It's noted that there are positive trends in international sales. What's driving this, and what does it mean for your business?",[],{"_key":18180,"_type":173,"children":18181,"markDefs":18185,"style":182},"99bb37dd51eb",[18182],{"_key":18183,"_type":177,"marks":18184,"text":180},"3707406b0ad20",[],[],{"_key":18187,"_type":173,"children":18188,"markDefs":18197,"style":182},"c1ccbf801d60",[18189,18193],{"_key":18190,"_type":177,"marks":18191,"text":18192},"00bf88c15e6b0",[179],"Jason Mai:",{"_key":18194,"_type":177,"marks":18195,"text":18196},"36fd24b4a620",[]," The international trend is likely to continue due to historical underinvestment. Both commercial and non-commercial offshore work, as well as some land work, contribute to this. As the world focuses on securing energy, increased investment on the international side becomes necessary. ",[],{"_key":18199,"_type":173,"children":18200,"markDefs":18204,"style":182},"ea2a05b740f3",[18201],{"_key":18202,"_type":177,"marks":18203,"text":180},"dba56b613e3f0",[],[],{"_key":18206,"_type":173,"children":18207,"markDefs":18215,"style":182},"942ea8973148",[18208,18211],{"_key":18209,"_type":177,"marks":18210,"text":18173},"814fd5ee318e0",[179],{"_key":18212,"_type":177,"marks":18213,"text":18214},"2f37118c4d9d",[]," How does Hunting Titan perceive its growth in North America, especially in the completion space?",[],{"_key":18217,"_type":173,"children":18218,"markDefs":18222,"style":182},"e136eabdff84",[18219],{"_key":18220,"_type":177,"marks":18221,"text":180},"268a43a8b0fb0",[],[],{"_key":18224,"_type":173,"children":18225,"markDefs":18233,"style":182},"26c90237b240",[18226,18229],{"_key":18227,"_type":177,"marks":18228,"text":18192},"dc12a35acd540",[179],{"_key":18230,"_type":177,"marks":18231,"text":18232},"49638b500fa3",[]," In North America, our involvement in the completion space tends to occur about two-thirds of the way towards the end of the well life cycle. We're always present, whether in conventional or unconventional methods. Our leading role in developing technologies for unconventional methods positions us well for the future.",[],{"_key":18235,"_type":173,"children":18236,"markDefs":18240,"style":182},"ced84cbb124a",[18237],{"_key":18238,"_type":177,"marks":18239,"text":180},"487021c619cc0",[],[],{"_key":18242,"_type":173,"children":18243,"markDefs":18248,"style":182},"228e3920eb25",[18244],{"_key":18245,"_type":177,"marks":18246,"text":18247},"f9e238a980490",[],"I'd like to emphasize the role of technology in our growth. Different tiers of technology and competitors exist, and over time, operators and wireline companies value efficiency and safety. Our control fire technology is a prime example. While it took time to be adopted due to higher costs, its value is now recognized both in North America and internationally.",[],{"_key":18250,"_type":173,"children":18251,"markDefs":18255,"style":182},"207a8656f991",[18252],{"_key":18253,"_type":177,"marks":18254,"text":180},"a5d57ee754ee0",[],[],{"_key":18257,"_type":173,"children":18258,"markDefs":18266,"style":182},"113beecaae2e",[18259,18262],{"_key":18260,"_type":177,"marks":18261,"text":18173},"7853558619460",[179],{"_key":18263,"_type":177,"marks":18264,"text":18265},"e14701a85994",[]," With a significant decrease in drilling operations in the US over the past year, how is Hunting Titan navigating this challenge?",[],{"_key":18268,"_type":173,"children":18269,"markDefs":18273,"style":182},"255aabf192cb",[18270],{"_key":18271,"_type":177,"marks":18272,"text":180},"e20c446e39c40",[],[],{"_key":18275,"_type":173,"children":18276,"markDefs":18284,"style":182},"1ff5831f1e94",[18277,18280],{"_key":18278,"_type":177,"marks":18279,"text":18192},"0e8a2576de360",[179],{"_key":18281,"_type":177,"marks":18282,"text":18283},"ee834a39a148",[]," Although rig counts have dropped, there's a noticeable shift in the type of activity. There are more efficiency gains in drilling, but overall activity has decreased. However, we, as Titan within Hunting, leverage our portfolio to boost international sales, helping offset the slowdown in the US. The indications are that activity should stabilize and ramp up in the coming years.",[],{"_key":18286,"_type":173,"children":18287,"markDefs":18291,"style":182},"016cd07d12c4",[18288],{"_key":18289,"_type":177,"marks":18290,"text":180},"b05ea7bd84a80",[],[],{"_key":18293,"_type":173,"children":18294,"markDefs":18303,"style":182},"8c05dd08fa84",[18295,18299],{"_key":18296,"_type":177,"marks":18297,"text":18298},"2de7720f386f0",[179],"Christopher Williams: ",{"_key":18300,"_type":177,"marks":18301,"text":18302},"0a5076b0e072",[],"Can you share key features and benefits of the new H4 Perforating System?",[],{"_key":18305,"_type":173,"children":18306,"markDefs":18310,"style":182},"1488a2cd418a",[18307],{"_key":18308,"_type":177,"marks":18309,"text":180},"c620f14944b20",[],[],{"_key":18312,"_type":173,"children":18313,"markDefs":18321,"style":182},"7d68e384a353",[18314,18317],{"_key":18315,"_type":177,"marks":18316,"text":18192},"beaa00d556000",[179],{"_key":18318,"_type":177,"marks":18319,"text":18320},"b98c1b50a9cb",[]," The H4 Perforating System, integrated with Hunting's control fire Recon switch, offers consistent benefits across different systems. The Perf Plus panel allows us to interrogate the entire string simultaneously. While H3 and H4 serve different purposes, they share a common platform, providing room for future advancements.",[],{"_key":18323,"_type":173,"children":18324,"markDefs":18328,"style":182},"e44a6f0c977a",[18325],{"_key":18326,"_type":177,"marks":18327,"text":180},"04b31deacf6d0",[],[],{"_key":18330,"_type":173,"children":18331,"markDefs":18339,"style":182},"df6f7d873ef4",[18332,18335],{"_key":18333,"_type":177,"marks":18334,"text":18173},"33bfad1f26fd0",[179],{"_key":18336,"_type":177,"marks":18337,"text":18338},"5a7b10e05983",[]," How does Hunting Titan prioritize innovation to fuel its success?",[],{"_key":18341,"_type":173,"children":18342,"markDefs":18346,"style":182},"7bb571845a00",[18343],{"_key":18344,"_type":177,"marks":18345,"text":180},"7ac1b04cdfd60",[],[],{"_key":18348,"_type":173,"children":18349,"markDefs":18357,"style":182},"95bf8720d139",[18350,18353],{"_key":18351,"_type":177,"marks":18352,"text":18192},"c6138345c8730",[179],{"_key":18354,"_type":177,"marks":18355,"text":18356},"9d922d6b9386",[]," Innovation is highly valued within our budget, and we don't cut back on technology. Even during downturns, such as the COVID period, we continue to innovate. Our commitment to sustaining an innovation philosophy is evident in our budget allocation and dedicated programs for innovation. The aim is not only to benefit the company but also to provide solutions that enhance efficiency and safety for our customers.",[],{"_key":18359,"_type":173,"children":18360,"markDefs":18364,"style":182},"7bccbf48db67",[18361],{"_key":18362,"_type":177,"marks":18363,"text":180},"42a6f62965490",[],[],{"_key":18366,"_type":173,"children":18367,"markDefs":18372,"style":182},"ed4993d10746",[18368],{"_key":18369,"_type":177,"marks":18370,"text":18371},"0fd34ee4b5960",[],"An excellent example is our Perf Plus, which serves as both an automated shooting system and a data logger. As equipment in the field becomes more streamlined, our commitment to innovation contributes to the efficiency of our equipment. We will continue on this path, improving and introducing new technologies, such as a potential H5 in the future.",[],{"_type":144,"showCTA":7},{"_type":146,"asset":18375},{"_ref":18376,"_type":141},"image-a281ef67531bfe97babbdd23d9b32cec0095dd95-1920x1080-png","2023-02-13T20:21:00.000Z",{"_type":9,"current":18379},"unveiling-the-innovators-a-conversation-with-jason-mai","Unveiling the Innovators: A Conversation with Jason Mai","\u002Fnews\u002Funveiling-the-innovators-a-conversation-with-jason-mai",{"_createdAt":18383,"_id":18384,"_rev":12607,"_type":168,"_updatedAt":116,"body":18385,"categories":18534,"introText":18392,"publishedAt":18537,"slug":18538,"tags":18540,"title":7934,"url":18545},"2023-02-16T14:03:59Z","30f7a17e-78d6-4bb0-bb1d-2c4bf36e07b6",[18386,18394,18402,18410,18418,18426,18434,18442,18449,18464,18475,18489,18496,18503,18511,18519,18527],{"_key":18387,"_type":173,"children":18388,"markDefs":18393,"style":182},"f9ab8cf2cb33",[18389],{"_key":18390,"_type":177,"marks":18391,"text":18392},"7396b550aa250",[],"Hunting PLC (LSE:HTG), the international energy services group, today announces the appointment of Stuart Brightman as a new independent, non-executive Director of the Company, with immediate effect.",[],{"_key":18395,"_type":173,"children":18396,"markDefs":18401,"style":182},"b0692197e6b2",[18397],{"_key":18398,"_type":177,"marks":18399,"text":18400},"f2ccb8dfe0780",[],"Mr Brightman is a leading energy services executive having spent the majority of his career at TETRA Technologies Inc. (\"TETRA\"), Dresser Inc. and Cameron Iron Works.",[],{"_key":18403,"_type":173,"children":18404,"markDefs":18409,"style":182},"daa0f25d5159",[18405],{"_key":18406,"_type":177,"marks":18407,"text":18408},"724475c3b3520",[],"During his time at TETRA, Mr Brightman held the position of Chief Operating Officer between 2005 and 2009, prior to his appointment as Chief Executive Officer, a position he held between 2009 and 2019, before his retirement from the business. As Chief Executive Officer, Mr Brightman repositioned TETRA's businesses to focus on higher return technologies and products, which included organic and acquisitive growth of its three core operating segments.",[],{"_key":18411,"_type":173,"children":18412,"markDefs":18417,"style":182},"fe4c7a6cf9d1",[18413],{"_key":18414,"_type":177,"marks":18415,"text":18416},"2a8af024d23a0",[],"Mr Brightman began his career with Arthur Young & Co., a predecessor firm of Ernst & Young (EY).",[],{"_key":18419,"_type":173,"children":18420,"markDefs":18425,"style":182},"eb56e7d2afaa",[18421],{"_key":18422,"_type":177,"marks":18423,"text":18424},"0d05f70633250",[],"Mr Brightman's appointment comes at a key time for Hunting, as the Company believes the global energy industry is at the start of a strong period of growth as energy security, oil and gas reserves depletion, low carbon energy transition and economic stability all form part of the dynamics of this important sector.",[],{"_key":18427,"_type":173,"children":18428,"markDefs":18433,"style":182},"9ca0ed93de7d",[18429],{"_key":18430,"_type":177,"marks":18431,"text":18432},"0152ecd73d8d0",[],"Mr Brightman joins the Board of Hunting with immediate effect, and will automatically retire and offer himself for re-appointment by shareholders at the Company's 2023 Annual General Meeting to be held on Wednesday 19 April 2023. Further, Mr Brightman will join all of the Board's Committees with immediate effect.",[],{"_key":18435,"_type":173,"children":18436,"markDefs":18441,"style":182},"efb89e22e58b",[18437],{"_key":18438,"_type":177,"marks":18439,"text":18440},"60e3281d465d0",[],"Pursuant to Listing Rule 9.6.13, Mr Brightman is also a non-executive Director of NexTier Oilfield Solutions Inc.",[],{"_key":18443,"_type":173,"children":18444,"markDefs":18448,"style":182},"1d74f8f1c9bf",[18445],{"_key":18446,"_type":177,"marks":18447,"text":1126},"ea23b94b4f5f0",[179],[],{"_key":18450,"_type":173,"children":18451,"markDefs":18463,"style":182},"66845b50353a",[18452,18455,18459],{"_key":18453,"_type":177,"marks":18454,"text":1134},"ca9d1e19bff60",[179],{"_key":18456,"_type":177,"marks":18457,"text":18458},"ca9d1e19bff61",[],"\nJay Glick, Non-Executive Chairman\nBen Willey, Company Secretary\n",{"_key":18460,"_type":177,"marks":18461,"text":18462},"ca9d1e19bff62",[179],"Tel: +44 (0) 20 7321 012",[],{"_key":18465,"_type":173,"children":18466,"markDefs":18474,"style":182},"a0a37f470857",[18467,18470],{"_key":18468,"_type":177,"marks":18469,"text":1134},"9cb969f478290",[179],{"_key":18471,"_type":177,"marks":18472,"text":18473},"9cb969f478291",[],"\nJay Glick, Non-Executive Chairman\nBen Willey, Company Secretary",[],{"_key":18476,"_type":173,"children":18477,"markDefs":18488,"style":182},"f2db95fe67c4",[18478,18481,18485],{"_key":18479,"_type":177,"marks":18480,"text":8934},"88b22fd6c8030",[179],{"_key":18482,"_type":177,"marks":18483,"text":18484},"88b22fd6c8031",[],"\nBen Romney\nJon Krinks\n",{"_key":18486,"_type":177,"marks":18487,"text":8958},"88b22fd6c8032",[179],[],{"_key":18490,"_type":173,"children":18491,"markDefs":18495,"style":182},"90735bc335e6",[18492],{"_key":18493,"_type":177,"marks":18494,"text":10958},"b5aa33921a030",[179],[],{"_key":18497,"_type":173,"children":18498,"markDefs":18502,"style":182},"014c3979c939",[18499],{"_key":18500,"_type":177,"marks":18501,"text":1256},"f9c0937a5ef90",[],[],{"_key":18504,"_type":173,"children":18505,"markDefs":18510,"style":182},"f64e469ec0e0",[18506],{"_key":18507,"_type":177,"marks":18508,"text":18509},"d03c2e360b360",[],"Hunting PLC is an international energy services provider to the world's leading upstream oil and gas companies. Established in 1874, it is a premium listed public company traded on the London Stock Exchange. The Company maintains a corporate office in Houston and is headquartered in London . As well as the United Kingdom , the Company has principal operations in Canada, China, Indonesia, Mexico, Netherlands, Singapore, United Arab Emirates and the United States of America.",[],{"_key":18512,"_type":173,"children":18513,"markDefs":18518,"style":182},"31e77e2e7906",[18514],{"_key":18515,"_type":177,"marks":18516,"text":18517},"5fc868d4e6270",[],"The Group reports in US dollars across four segments: Hunting Titan, North America , Europe , Middle East and Africa (\"EMEA\") and Asia Pacific.",[],{"_key":18520,"_type":173,"children":18521,"markDefs":18526,"style":182},"49a75d0d7906",[18522],{"_key":18523,"_type":177,"marks":18524,"text":18525},"888afeb9ef380",[],"From 1 January 2023, the Group will be reporting across five segments: Hunting Titan, North America , Subsea Technologies, EMEA and Asia Pacific.",[],{"_key":18528,"_type":173,"children":18529,"markDefs":18533,"style":182},"e2fc92fba835",[18530],{"_key":18531,"_type":177,"marks":18532,"text":16083},"2cea3e677b810",[],[],[18535],{"_key":18536,"_ref":1713,"_type":141},"582a0edb7b37","2023-01-03T12:00:00.000Z",{"_type":9,"current":18539},"03-01-2023",[18541,18543],{"_key":18542,"_ref":7180,"_type":141},"77130f49d6a6",{"_key":18544,"_ref":16463,"_type":141},"79323ae77613","\u002Fnews\u002F03-01-2023",{"_createdAt":18547,"_id":18548,"_rev":14811,"_type":168,"_updatedAt":116,"body":18549,"categories":18671,"introText":18556,"publishedAt":18674,"slug":18675,"tags":18677,"title":18682,"url":18683},"2023-02-16T14:09:15Z","0eab803b-47d0-4c18-b3d2-db0096337692",[18550,18558,18566,18574,18582,18590,18597,18605,18612,18623,18634,18641,18648,18656,18664],{"_key":18551,"_type":173,"children":18552,"markDefs":18557,"style":182},"8044b63e9ba2",[18553],{"_key":18554,"_type":177,"marks":18555,"text":18556},"e2b36d7e558d0",[],"Hunting PLC (LSE:HTG), the international energy services group, provides an update to trading, alongside its 2022 Half Year Results which have been issued today.",[],{"_key":18559,"_type":173,"children":18560,"markDefs":18565,"style":182},"0cff78702d36",[18561],{"_key":18562,"_type":177,"marks":18563,"text":18564},"252bffe3118a0",[],"The Group is pleased to announce that strong progress continues to be made in building its forward sales order book, which provides further visibility on revenue and earnings for the balance of 2022 and into 2023.",[],{"_key":18567,"_type":173,"children":18568,"markDefs":18573,"style":182},"8fee390f44c6",[18569],{"_key":18570,"_type":177,"marks":18571,"text":18572},"b7ff7acc009e0",[],"In August 2022, Hunting’s Asia Pacific operating segment won an Oil Country Tubular Goods (“OCTG”) contract that management estimates to be worth up to $86 million with CNOOC for an offshore project in China. The order will be completed between August 2022 and June 2023 and will utilise Hunting’s proprietary SEAL-LOCK XD™ premium connection. Purchase orders have been received in August 2022, with the Group needing to purchase OCTG raw material in H2 2022 which will increase working capital by c.$30 million. This order is the largest single order for Hunting’s OCTG and premium connections in the Group’s recent history, and underpins the positive market sentiment globally. Further, the revenue from this order will be recognised in 2023, as shipments commence.",[],{"_key":18575,"_type":173,"children":18576,"markDefs":18581,"style":182},"76c6df7078de",[18577],{"_key":18578,"_type":177,"marks":18579,"text":18580},"081aa9f29ed30",[],"In August 2022, the Group’s Subsea Spring business, which forms part of the North America operating segment, also secured further orders for its titanium stress joints for Beacon Offshore Energy’s Shenandoah development in the Gulf of Mexico. This order extends the business’ good run of wins for global offshore developments since Hunting acquired the business in 2019.",[],{"_key":18583,"_type":173,"children":18584,"markDefs":18589,"style":182},"4b71f1b28e5a",[18585],{"_key":18586,"_type":177,"marks":18587,"text":18588},"bf643b58f9560",[],"The Board notes that Hunting’s sales order book now exceeds c.$400 million which represents a near doubling since 31 December 2021, demonstrating that the global energy industry continues to strengthen following the COVID-19 pandemic.",[],{"_key":18591,"_type":173,"children":18592,"markDefs":18596,"style":182},"c46a01b5ff03",[18593],{"_key":18594,"_type":177,"marks":18595,"text":16163},"941cff06008d0",[],[],{"_key":18598,"_type":173,"children":18599,"markDefs":18604,"style":13454},"8e81130d6635",[18600],{"_key":18601,"_type":177,"marks":18602,"text":18603},"30bbbdfd4a140",[216],"“The CNOOC order is a fantastic result for our Asia Pacific segment and demonstrates the commitment of our business teams in Singapore and Wuxi, China, to capture new opportunities as the global energy industry continues its recovery. The new business wins at our Subsea Spring business also shows that Hunting’s portfolio of products are in strong demand.”",[],{"_key":18606,"_type":173,"children":18607,"markDefs":18611,"style":182},"47f0eaa225df",[18608],{"_key":18609,"_type":177,"marks":18610,"text":5318},"ea4ea09054620",[],[],{"_key":18613,"_type":173,"children":18614,"markDefs":18622,"style":182},"b9aa1f612f75",[18615,18618],{"_key":18616,"_type":177,"marks":18617,"text":1134},"696c6a5253560",[179],{"_key":18619,"_type":177,"marks":18620,"text":18621},"696c6a5253561",[],"\nJim Johnson, Chief Executive\nBruce Ferguson, Finance Director\nir@hunting.plc.uk\nTel: +44 (0) 20 7321 0123",[],{"_key":18624,"_type":173,"children":18625,"markDefs":18633,"style":182},"5423114b9683",[18626,18629],{"_key":18627,"_type":177,"marks":18628,"text":8934},"61b24beed9f50",[179],{"_key":18630,"_type":177,"marks":18631,"text":18632},"61b24beed9f51",[],"\nBen Romney\nJon Krinks\nTel: +44 (0) 20 7466 5000",[],{"_key":18635,"_type":173,"children":18636,"markDefs":18640,"style":182},"6b0938e1fec8",[18637],{"_key":18638,"_type":177,"marks":18639,"text":10958},"472d1e808ad20",[179],[],{"_key":18642,"_type":173,"children":18643,"markDefs":18647,"style":182},"13be4228b464",[18644],{"_key":18645,"_type":177,"marks":18646,"text":12234},"7da6b9db0d5c0",[],[],{"_key":18649,"_type":173,"children":18650,"markDefs":18655,"style":182},"2e54ab73ed77",[18651],{"_key":18652,"_type":177,"marks":18653,"text":18654},"e445ac526f510",[],"Hunting PLC is an international energy services provider to the world's leading upstream oil and gas companies. Established in 1874, it is a premium listed public company traded on the London Stock Exchange. The Company maintains a corporate office in Houston and is headquartered in London. As well as the United Kingdom, the Company has operations in China, Indonesia, Mexico, Netherlands, Norway, Saudi Arabia, Singapore, United Arab Emirates and the United States of America.",[],{"_key":18657,"_type":173,"children":18658,"markDefs":18663,"style":182},"34dbc0bb0dd6",[18659],{"_key":18660,"_type":177,"marks":18661,"text":18662},"1bbb26293bd60",[],"The Group reports in US dollars across four operating segments: Hunting Titan; North America; Europe, Middle East and Africa (“EMEA”) and Asia Pacific.",[],{"_key":18665,"_type":173,"children":18666,"markDefs":18670,"style":182},"d45ce05cf9f7",[18667],{"_key":18668,"_type":177,"marks":18669,"text":1309},"9043277b7f5f0",[],[],[18672],{"_key":18673,"_ref":1713,"_type":141},"366c1c290ac8","2022-08-25T11:00:00.000Z",{"_type":9,"current":18676},"25-08-2022a",[18678,18680],{"_key":18679,"_ref":7180,"_type":141},"5e546002a03e",{"_key":18681,"_ref":10968,"_type":141},"161635fc15db","Trading Update ","\u002Fnews\u002F25-08-2022a",{"_createdAt":18685,"_id":18686,"_rev":11949,"_type":168,"_updatedAt":116,"body":18687,"categories":19191,"downloads":19194,"introText":18694,"publishedAt":18674,"slug":19199,"tags":19201,"title":19206,"url":19207},"2023-02-16T14:14:08Z","176a6e31-6616-4342-8a66-a644dffb91f0",[18688,18696,18704,18712,18720,18728,18736,18744,18752,18760,18768,18776,18784,18792,18800,18822,18830,18838,18846,18854,18862,18870,18889,18901,18913,18925,18943,18955,18967,18979,18986,18994,19002,19010,19018,19026,19034,19041,19049,19059,19066,19074,19083,19100,19108,19116,19123,19133,19141,19148,19159,19170,19177,19184],{"_key":18689,"_type":173,"children":18690,"markDefs":18695,"style":182},"94025324cb45",[18691],{"_key":18692,"_type":177,"marks":18693,"text":18694},"5dd5f6254d790",[],"Hunting PLC (LSE:HTG), the international energy services group, today announces its results for the six months to 30 June 2022.",[],{"_key":18697,"_type":173,"children":18698,"markDefs":18703,"style":182},"a80713c6ea36",[18699],{"_key":18700,"_type":177,"marks":18701,"text":18702},"3b8d88a824fa0",[179],"Financial Summary*",[],{"_key":18705,"_type":173,"children":18706,"level":955,"listItem":2555,"markDefs":18711,"style":182},"4669854c4791",[18707],{"_key":18708,"_type":177,"marks":18709,"text":18710},"3dc1e79644fe0",[],"Revenue $336.1m (H2 2021 – $277.2m; H1 2021 – $244.4m)",[],{"_key":18713,"_type":173,"children":18714,"level":955,"listItem":2555,"markDefs":18719,"style":182},"bb3c8a251286",[18715],{"_key":18716,"_type":177,"marks":18717,"text":18718},"95e4d2bc7ab10",[],"Gross profit $75.8m (H2 2021 – $20.9m; H1 2021 – $44.0m)",[],{"_key":18721,"_type":173,"children":18722,"level":955,"listItem":2555,"markDefs":18727,"style":182},"36634ce53e9c",[18723],{"_key":18724,"_type":177,"marks":18725,"text":18726},"8f0ca5ab905f0",[],"Profit from operations $1.7m (H2 2021 – $53.2m loss; H1 2021 – $26.5m loss)",[],{"_key":18729,"_type":173,"children":18730,"level":955,"listItem":2555,"markDefs":18735,"style":182},"22698f17b6cc",[18731],{"_key":18732,"_type":177,"marks":18733,"text":18734},"386df1f3bbc60",[],"Diluted loss per share 2.4 cents (H2 2021 – 34.3 cents LPS; H1 2021 – 18.9 cents LPS)",[],{"_key":18737,"_type":173,"children":18738,"level":955,"listItem":2555,"markDefs":18743,"style":182},"be2b8bcbfece",[18739],{"_key":18740,"_type":177,"marks":18741,"text":18742},"36c487525dad0",[],"EBITDA $20.6m (H2 2021 – $6.7m; H1 2021 – $3.6m loss) **",[],{"_key":18745,"_type":173,"children":18746,"level":955,"listItem":2555,"markDefs":18751,"style":182},"8a2bf6e22196",[18747],{"_key":18748,"_type":177,"marks":18749,"text":18750},"3b8b02094d1d0",[],"Adjusting items totalling $nil (H2 2021 – $41.1m; H1 2021 – $3.5m)",[],{"_key":18753,"_type":173,"children":18754,"level":955,"listItem":2555,"markDefs":18759,"style":182},"3faf9f389e28",[18755],{"_key":18756,"_type":177,"marks":18757,"text":18758},"75108674f1550",[],"Adjusted gross profit $75.8m (H2 2021 – $56.5m; H1 2021 – $44.1m)",[],{"_key":18761,"_type":173,"children":18762,"level":955,"listItem":2555,"markDefs":18767,"style":182},"81d65c781f64",[18763],{"_key":18764,"_type":177,"marks":18765,"text":18766},"15c163df12910",[],"Adjusted profit from operations $1.7m (H2 2021 – $12.1m loss; H1 2021 – $23.0m loss)",[],{"_key":18769,"_type":173,"children":18770,"level":955,"listItem":2555,"markDefs":18775,"style":182},"2fce28db940d",[18771],{"_key":18772,"_type":177,"marks":18773,"text":18774},"10c7071b91220",[],"Adjusted diluted LPS per share 2.4 cents (H2 2021 – 11.0 cents LPS; H1 2021 – 16.1 cents LPS)",[],{"_key":18777,"_type":173,"children":18778,"level":955,"listItem":2555,"markDefs":18783,"style":182},"d3da477d794e",[18779],{"_key":18780,"_type":177,"marks":18781,"text":18782},"ef5e25b6b74d0",[],"Total cash and bank of $85.6m (31 December 2021 – $114.2m)***",[],{"_key":18785,"_type":173,"children":18786,"level":955,"listItem":2555,"markDefs":18791,"style":182},"78b22c50c726",[18787],{"_key":18788,"_type":177,"marks":18789,"text":18790},"f220622cae790",[],"Net assets per share 517.4 cents (31 December 2021 – 528.4 cents)",[],{"_key":18793,"_type":173,"children":18794,"level":955,"listItem":2555,"markDefs":18799,"style":182},"245f12685708",[18795],{"_key":18796,"_type":177,"marks":18797,"text":18798},"4f75cc7d8fd40",[],"Interim dividend declared for H1 2022 of 4.5 cents per share (H1 2021 – 4.0 cents)",[],{"_key":18801,"_type":173,"children":18802,"markDefs":18821,"style":182},"b90ce50e4037",[18803,18807,18810,18814,18817],{"_key":18804,"_type":177,"marks":18805,"text":18806},"33a912d84a180",[216],"*- Adjusted results are non-GAAP measures and reflect adjusting items determined by management. Please refer to pages 35 to 39 of the Half Year 2022 report for further information.",{"_key":18808,"_type":177,"marks":18809,"text":1430},"33a912d84a181",[],{"_key":18811,"_type":177,"marks":18812,"text":18813},"33a912d84a182",[216],"**-EBITDA is a non-GAAP measure. Please refer to page 36 of the Half Year 2022 report for further information.",{"_key":18815,"_type":177,"marks":18816,"text":1430},"33a912d84a183",[],{"_key":18818,"_type":177,"marks":18819,"text":18820},"33a912d84a184",[216],"*** - Total cash and bank is a non-GAAP measure. Please refer to page 38 of the Half Year 2022 report for further information.",[],{"_key":18823,"_type":173,"children":18824,"markDefs":18829,"style":182},"f5418e4c9b5c",[18825],{"_key":18826,"_type":177,"marks":18827,"text":18828},"f34bf53610b90",[],"Commenting on the results and outlook, Jim Johnson, Chief Executive, said:",[],{"_key":18831,"_type":173,"children":18832,"markDefs":18837,"style":182},"3119f9526742",[18833],{"_key":18834,"_type":177,"marks":18835,"text":18836},"6f5226905a7b0",[],"“The Group’s results demonstrate a strong improvement in revenue and earnings in the period, leading to Hunting returning to monthly pre-tax profitability during the second quarter. The second half of the year is expected to see further improvement in earnings, which is supported by our forward sales order book, which now exceeds the position seen in 2019, providing a positive outlook for the remainder of the year and into 2023.",[],{"_key":18839,"_type":173,"children":18840,"markDefs":18845,"style":182},"506dd468df8c",[18841],{"_key":18842,"_type":177,"marks":18843,"text":18844},"258b163ce0b60",[],"“Hunting Titan is likely to see further improvements to its trading results, supported by the increased drilling in North America, in addition to its growing international profile. The Group’s North America operating segment has seen a strong increase in forward orders across all of its product lines, in particular the Premium Connection, Accessories Manufacturing, Advanced Manufacturing and Subsea businesses. The EMEA and Asia Pacific regions are also seeing further progress, as international drilling activity increases.",[],{"_key":18847,"_type":173,"children":18848,"markDefs":18853,"style":182},"b9767e3dd5b5",[18849],{"_key":18850,"_type":177,"marks":18851,"text":18852},"c87f1d79ecbd0",[],"“Despite recessionary fears, the energy industry is likely to remain on a firm footing given the macroeconomic and geopolitical movements reported in the period. Energy security planning will likely support industry growth for western economies into 2023, with the Company well placed to benefit from this outlook.”",[],{"_key":18855,"_type":173,"children":18856,"markDefs":18861,"style":182},"8ef749dfa8dd",[18857],{"_key":18858,"_type":177,"marks":18859,"text":18860},"6e1794ef7f2a0",[179],"Strategic Highlights:",[],{"_key":18863,"_type":173,"children":18864,"markDefs":18869,"style":182},"cf76d947e476",[18865],{"_key":18866,"_type":177,"marks":18867,"text":18868},"7f19029d235b0",[],"The Group has delivered on a number of strategic objectives during 2022:",[],{"_key":18871,"_type":173,"children":18872,"level":955,"listItem":2555,"markDefs":18888,"style":182},"9eb7ac3e3e3f",[18873,18877,18880,18884],{"_key":18874,"_type":177,"marks":18875,"text":18876},"847a17cfd9570",[179],"Contract awarded by ExxonMobil for Titanium Stress Joints on Yellowtail Development in Guyana",{"_key":18878,"_type":177,"marks":18879,"text":15101},"847a17cfd9571",[],{"_key":18881,"_type":177,"marks":18882,"text":18883},"847a17cfd9572",[179],"–",{"_key":18885,"_type":177,"marks":18886,"text":18887},"847a17cfd9573",[]," in Q1 2022, Hunting was awarded a contract to supply titanium stress joints (“TSJs”) to the ExxonMobil Yellowtail development in Guyana. The TSJs will be used in a new application on the Floating Production Storage and Offloading (“FPSO”) facility planned for the project. This opportunity opens up new revenue channels for the Group, as Hunting’s TSJs are now applicable to most FPSO operations globally.",[],{"_key":18890,"_type":173,"children":18891,"level":955,"listItem":2555,"markDefs":18900,"style":182},"e895367c6661",[18892,18896],{"_key":18893,"_type":177,"marks":18894,"text":18895},"776b7696be670",[179],"Contract awarded by CNOOC for Premium Connections and OCTG –",{"_key":18897,"_type":177,"marks":18898,"text":18899},"776b7696be671",[]," in August 2022, the Group’s Asia Pacific operating segment was awarded a contract for OCTG that management estimates to be worth up to $86m for Hunting’s proprietary SEAL-LOCK XD™ premium connections and associated OCTG for an offshore project in China. The order is the largest OCTG and Premium Connections order win in the Group’s recent history and provides further visibility to revenue and earnings into 2023.",[],{"_key":18902,"_type":173,"children":18903,"level":955,"listItem":2555,"markDefs":18912,"style":182},"a3044696b337",[18904,18908],{"_key":18905,"_type":177,"marks":18906,"text":18907},"2dd8d33a415c0",[179],"Strong Development of Non-oil and Gas Order Book within the Advanced Manufacturing Group –",{"_key":18909,"_type":177,"marks":18910,"text":18911},"2dd8d33a415c1",[]," the Dearborn and Electronics businesses have both successfully increased their respective order books in the period, which includes significant non-oil and gas work and strong progress in the power generation, aviation, defence and space sectors. In particular, the Dearborn business now has a forward sales order book of $81m which comprises c.80% of non-oil and gas sales and which extends into 2024.",[],{"_key":18914,"_type":173,"children":18915,"level":955,"listItem":2555,"markDefs":18924,"style":182},"0dec01a54652",[18916,18920],{"_key":18917,"_type":177,"marks":18918,"text":18919},"db339abf95e00",[179],"Commenced Construction of a Premium Connection Threading Facility in India –",{"_key":18921,"_type":177,"marks":18922,"text":18923},"db339abf95e01",[]," during the period, the Group has formally incorporated a joint venture company in India, with its partner Jindal SAW. Construction of the new premium connection threading facility has commenced in Nashik province, with the commissioning date remaining on track for Q1 2023.",[],{"_key":18926,"_type":173,"children":18927,"level":955,"listItem":2555,"markDefs":18942,"style":182},"306ab7c5e2de",[18928,18932,18935,18938],{"_key":18929,"_type":177,"marks":18930,"text":18931},"a401f749e9140",[179],"Successful Transition of New OCTG Business Model in the UK and Netherlands",{"_key":18933,"_type":177,"marks":18934,"text":15101},"a401f749e9141",[],{"_key":18936,"_type":177,"marks":18937,"text":18883},"a401f749e9142",[179],{"_key":18939,"_type":177,"marks":18940,"text":18941},"a401f749e9143",[]," in December 2021, the Group successfully concluded the restructuring of its European OCTG business. During H1 2022, the Group implemented a new manufacturing and service business model, which has led to improved financial performance for the business.",[],{"_key":18944,"_type":173,"children":18945,"level":955,"listItem":2555,"markDefs":18954,"style":182},"1cc5430180b0",[18946,18950],{"_key":18947,"_type":177,"marks":18948,"text":18949},"bb455908ce0d0",[179],"Further commercialisation of New Perforating and Completion Products within Hunting Titan – ",{"_key":18951,"_type":177,"marks":18952,"text":18953},"bb455908ce0d1",[],"in H1 2022, Hunting Titan has fully commercialised the H-3 perforating system and migrated clients to this new, more efficient well completion system. The operating segment has launched a new shooting panel used in completion procedures and expanded production of its detonation cord manufacturing capabilities. In support of US domestic demand, Hunting Titan is also investing in new perforating system capacity at its facility in Mexico and has fully re-activated the Oklahoma City manufacturing facility in the period.",[],{"_key":18956,"_type":173,"children":18957,"level":955,"listItem":2555,"markDefs":18966,"style":182},"63d78959e949",[18958,18962],{"_key":18959,"_type":177,"marks":18960,"text":18961},"e2099548973a0",[179],"$150m Asset Based Lending Facility – ",{"_key":18963,"_type":177,"marks":18964,"text":18965},"e2099548973a1",[],"on 7 February 2022, the Group agreed a $150m Asset Based Lending (“ABL”) facility to replace its $160m Revolving Credit Facility. The ABL is secured against certain US trade receivables, inventory and freehold properties. During the period and at 30 June 2022, the ABL was undrawn, given the total cash and bank position reported by the Group.",[],{"_key":18968,"_type":173,"children":18969,"level":955,"listItem":2555,"markDefs":18978,"style":182},"6387d4e503bb",[18970,18974],{"_key":18971,"_type":177,"marks":18972,"text":18973},"54e818a9335f0",[179],"Consolidation of Singapore Facilities – ",{"_key":18975,"_type":177,"marks":18976,"text":18977},"54e818a9335f1",[],"during the period, the Group’s Asia Pacific operating segment completed the relocation of its facilities to a new, single site in the Tuas port region of Singapore. The new facility incorporates OCTG threading, accessories manufacturing and yard services, in addition to Hunting’s well intervention operations in the region.",[],{"_key":18980,"_type":173,"children":18981,"markDefs":18985,"style":182},"56d8676f9131",[18982],{"_key":18983,"_type":177,"marks":18984,"text":262},"8115d5d65dea0",[179],[],{"_key":18987,"_type":173,"children":18988,"level":955,"listItem":2555,"markDefs":18993,"style":182},"889d8258dbec",[18989],{"_key":18990,"_type":177,"marks":18991,"text":18992},"5d597bc0b5a60",[],"Revenue $336.1m (H2 2021 – $277.2m; H1 2021 – $244.4m). Improvement is due to a mix of higher volumes, along with some price increases on selected product lines.",[],{"_key":18995,"_type":173,"children":18996,"level":955,"listItem":2555,"markDefs":19001,"style":182},"d5ef2a6a460e",[18997],{"_key":18998,"_type":177,"marks":18999,"text":19000},"2517574aa0ec0",[],"Adjusted gross profit margin 23% (H2 2021 – 20%; H1 2021 – 18%). Increase is due to higher volumes and prices in addition to improved facility utilisation levels.",[],{"_key":19003,"_type":173,"children":19004,"level":955,"listItem":2555,"markDefs":19009,"style":182},"f5983f24300d",[19005],{"_key":19006,"_type":177,"marks":19007,"text":19008},"078cf9b4e2de0",[],"The Group reports EBITDA of $20.6m for the six months to 30 June 2022 compared to the EBITDA loss of $3.6m in H1 2021.",[],{"_key":19011,"_type":173,"children":19012,"level":955,"listItem":2555,"markDefs":19017,"style":182},"76f8c2778f53",[19013],{"_key":19014,"_type":177,"marks":19015,"text":19016},"f08e57140a5d0",[],"Total cash and bank reported at 30 June 2022 of $85.6m (31 December 2021 – $114.2m). Decline since year-end mainly due to increases in working capital, as sales order book increased.",[],{"_key":19019,"_type":173,"children":19020,"level":955,"listItem":2555,"markDefs":19025,"style":182},"bf73858f5c78",[19021],{"_key":19022,"_type":177,"marks":19023,"text":19024},"400d173970330",[],"Interim dividend of 4.5 cents per share declared in respect of H1 2022 (H1 2021 – 4.0 cents), absorbing cash of approximately $7.2m (H1 2021 – $6.4m), payable to shareholders on 28 October 2022, with a record date of 7 October 2022.",[],{"_key":19027,"_type":173,"children":19028,"level":955,"listItem":2555,"markDefs":19033,"style":182},"fdfe7f1e5a9c",[19029],{"_key":19030,"_type":177,"marks":19031,"text":19032},"3cf34a2204910",[],"Net assets as at 30 June 2022 of $853.2m (31 December 2021 – $871.3m).",[],{"_key":19035,"_type":173,"children":19036,"markDefs":19040,"style":182},"1c80d12c410f",[19037],{"_key":19038,"_type":177,"marks":19039,"text":9501},"1e20063ad25b0",[179],[],{"_key":19042,"_type":173,"children":19043,"markDefs":19048,"style":182},"cb9e8dc5caea",[19044],{"_key":19045,"_type":177,"marks":19046,"text":19047},"f81b2355c5140",[],"For access to the Half Year Management Report narrative for the six months to 30 June 2022 please click on the following link.",[],{"_key":19050,"_type":173,"children":19051,"markDefs":19057,"style":182},"3c7bd19a4da5",[19052],{"_key":19053,"_type":177,"marks":19054,"text":19056},"cebbc227ca760",[19055],"d90777d2a5cd","http:\u002F\u002Fwww.rns-pdf.londonstockexchange.com\u002Frns\u002F1424X_1-2022-8-24.pdf",[19058],{"_key":19055,"_type":138,"href":19056},{"_key":19060,"_type":173,"children":19061,"markDefs":19065,"style":182},"0055e74f096d",[19062],{"_key":19063,"_type":177,"marks":19064,"text":1017},"a268bbc3dd200",[179],[],{"_key":19067,"_type":173,"children":19068,"markDefs":19073,"style":182},"18ad2c914563",[19069],{"_key":19070,"_type":177,"marks":19071,"text":19072},"7c5e34104fed0",[],"For access to the Condensed Consolidated Financial Statements and Notes for the six months to 30 June 2022 please click on the following link.",[],{"_key":19075,"_type":173,"children":19076,"markDefs":19081,"style":182},"430a64ee4fe4",[19077],{"_key":19078,"_type":177,"marks":19079,"text":19056},"a870d31937730",[19080],"058801705f37",[19082],{"_key":19080,"_type":138,"href":19056},{"_key":19084,"_type":173,"children":19085,"markDefs":19097,"style":182},"260395214b76",[19086,19090,19094],{"_key":19087,"_type":177,"marks":19088,"text":19089},"ed6f13daaff10",[],"The attached documents provide complete access to the Group’s 2022 Half Year Report. The Report can also be accessed at ",{"_key":19091,"_type":177,"marks":19092,"text":2296},"ed6f13daaff11",[19093],"f5302bbf394c",{"_key":19095,"_type":177,"marks":19096,"text":3208},"ed6f13daaff12",[],[19098],{"_key":19093,"_type":138,"href":19099},"https:\u002F\u002Fwww.huntingplc.com\u002F",{"_key":19101,"_type":173,"children":19102,"markDefs":19107,"style":182},"8b72df11f879",[19103],{"_key":19104,"_type":177,"marks":19105,"text":19106},"f3327ffb60d00",[179],"Analyst Webcast",[],{"_key":19109,"_type":173,"children":19110,"markDefs":19115,"style":182},"cef786c16732",[19111],{"_key":19112,"_type":177,"marks":19113,"text":19114},"10be8c16f4bd0",[],"Hunting PLC will host an analyst meeting and webcast on Thursday 25 August 2022 commencing at 9:30a.m. BST.",[],{"_key":19117,"_type":173,"children":19118,"markDefs":19122,"style":182},"54395d28d0f8",[19119],{"_key":19120,"_type":177,"marks":19121,"text":17733},"2fd6afd96c490",[],[],{"_key":19124,"_type":173,"children":19125,"markDefs":19131,"style":182},"2f347bd0730f",[19126],{"_key":19127,"_type":177,"marks":19128,"text":19130},"c747e76e16260",[19129],"22eb21e65938","https:\u002F\u002Fwebcasting.buchanan.uk.com\u002Fbroadcast\u002F62c3e5e9fb4bba516c45330c",[19132],{"_key":19129,"_type":138,"href":19130},{"_key":19134,"_type":173,"children":19135,"markDefs":19140,"style":182},"bf582936d74d",[19136],{"_key":19137,"_type":177,"marks":19138,"text":19139},"8d851a54d6ad0",[],"Analysts wishing to participate in a Q&A session can do so by submitting questions via the chat function of the webcast and these will be addressed by management during the live webcast. If you have any queries relating to this then please email hunting@buchanan.uk.com.",[],{"_key":19142,"_type":173,"children":19143,"markDefs":19147,"style":182},"c832bd00bad9",[19144],{"_key":19145,"_type":177,"marks":19146,"text":1126},"8f9e5aa9ff9b0",[179],[],{"_key":19149,"_type":173,"children":19150,"markDefs":19158,"style":182},"d937fa344150",[19151,19154],{"_key":19152,"_type":177,"marks":19153,"text":1134},"857c51a87abc0",[179],{"_key":19155,"_type":177,"marks":19156,"text":19157},"857c51a87abc1",[],"\nJim Johnson, Chief Executive\nBruce Ferguson, Finance Director\nir@hunting-intl.com\nTel: +44 (0) 20 7321 0123",[],{"_key":19160,"_type":173,"children":19161,"markDefs":19169,"style":182},"0a5a23c4f7bf",[19162,19165],{"_key":19163,"_type":177,"marks":19164,"text":8934},"317dd468c3e10",[179],{"_key":19166,"_type":177,"marks":19167,"text":19168},"317dd468c3e11",[],"\nBen Romney\nJon Krinks\nHannah Ratcliff\nTel: +44 (0) 20 7466 5000",[],{"_key":19171,"_type":173,"children":19172,"markDefs":19176,"style":182},"124faf669cad",[19173],{"_key":19174,"_type":177,"marks":19175,"text":10958},"7fc111cee83f0",[179],[],{"_key":19178,"_type":173,"children":19179,"markDefs":19183,"style":182},"a4688c0b1046",[19180],{"_key":19181,"_type":177,"marks":19182,"text":12234},"6310e652c43e0",[],[],{"_key":19185,"_type":173,"children":19186,"markDefs":19190,"style":182},"2bcc90efdeaa",[19187],{"_key":19188,"_type":177,"marks":19189,"text":16202},"c4499940282d0",[],[],[19192],{"_key":19193,"_ref":1713,"_type":141},"6ab6fab47f2d",[19195],{"_key":19196,"_type":10023,"asset":19197,"title":15497},"be24498c6225",{"_ref":19198,"_type":141},"file-51fb158825bcf493e44ab7b17f468368f5a71df5-pdf",{"_type":9,"current":19200},"25-08-2022",[19202,19204],{"_key":19203,"_ref":7180,"_type":141},"0683e05e5186",{"_key":19205,"_ref":15507,"_type":141},"6adaebfdca8c","Half year results","\u002Fnews\u002F25-08-2022",{"_createdAt":19209,"_id":19210,"_rev":7134,"_type":168,"_updatedAt":116,"body":19211,"categories":19543,"downloads":19546,"introText":19218,"publishedAt":19551,"slug":19552,"tags":19554,"title":19559,"url":19560},"2023-02-20T13:27:36Z","ea6638b3-f6df-471a-80c8-a7d62a5c7359",[19212,19220,19228,19236,19243,19251,19259,19267,19275,19283,19291,19299,19307,19315,19323,19338,19345,19353,19361,19369,19377,19385,19393,19401,19409,19417,19425,19433,19441,19449,19457,19465,19473,19481,19489,19497,19504,19512,19520,19528,19536],{"_key":19213,"_type":173,"children":19214,"markDefs":19219,"style":182},"492c371abcee",[19215],{"_key":19216,"_type":177,"marks":19217,"text":19218},"5b1608ca621c0",[],"Hunting PLC (LSE:HTG), the international energy services group, today announces its results for the year ended 31 December 2021.",[],{"_key":19221,"_type":173,"children":19222,"markDefs":19227,"style":182},"e0f881bc68f1",[19223],{"_key":19224,"_type":177,"marks":19225,"text":19226},"cffe754a05fd0",[],"Whilst the reduction in activity in the global oil and gas market from 2020 continued into last year, the second half of the year saw improved trading, supported by recovering commodity prices.",[],{"_key":19229,"_type":173,"children":19230,"markDefs":19235,"style":182},"bcfc0ad7dc51",[19231],{"_key":19232,"_type":177,"marks":19233,"text":19234},"e13301e208c10",[],"The Group’s strong year-end cash and bank position, coupled with its new $150m Asset Based Lending facility provides significant liquidity and balance sheet optionality. This includes the ability to pursue new growth and diversification opportunities.",[],{"_key":19237,"_type":173,"children":19238,"markDefs":19242,"style":14843},"1139f5a98bbe",[19239],{"_key":19240,"_type":177,"marks":19241,"text":18702},"4ddd5e70e309",[],[],{"_key":19244,"_type":173,"children":19245,"level":955,"listItem":2555,"markDefs":19250,"style":182},"af1b8b71cee6",[19246],{"_key":19247,"_type":177,"marks":19248,"text":19249},"05fa4e336afc0",[],"Revenue $521.6m (2020 – $626.0m)",[],{"_key":19252,"_type":173,"children":19253,"level":955,"listItem":2555,"markDefs":19258,"style":182},"e3fb17eef472",[19254],{"_key":19255,"_type":177,"marks":19256,"text":19257},"8db3cd1b8cb00",[],"EBITDA $3.1m (2020 – $26.1m)**",[],{"_key":19260,"_type":173,"children":19261,"level":955,"listItem":2555,"markDefs":19266,"style":182},"767a30f41ae4",[19262],{"_key":19263,"_type":177,"marks":19264,"text":19265},"5f54db32fb700",[],"Underlying loss from operations of $35.1m (2020 – $16.4m)**",[],{"_key":19268,"_type":173,"children":19269,"level":955,"listItem":2555,"markDefs":19274,"style":182},"439640a58b49",[19270],{"_key":19271,"_type":177,"marks":19272,"text":19273},"8336790396560",[],"Amortisation of acquired intangible assets and exceptional items impacting loss from operations totalling $44.6m charged in the year (2020 – $203.6m)",[],{"_key":19276,"_type":173,"children":19277,"level":955,"listItem":2555,"markDefs":19282,"style":182},"2c03a190f330",[19278],{"_key":19279,"_type":177,"marks":19280,"text":19281},"58dff28e62bf0",[],"Reported loss from operations of $79.7m (2020 – $220.0m)",[],{"_key":19284,"_type":173,"children":19285,"level":955,"listItem":2555,"markDefs":19290,"style":182},"70ae147cb25d",[19286],{"_key":19287,"_type":177,"marks":19288,"text":19289},"0ec21f247c150",[],"Underlying diluted loss per share 27.1 cents (2020 – 10.0 cents)**",[],{"_key":19292,"_type":173,"children":19293,"level":955,"listItem":2555,"markDefs":19298,"style":182},"d69ee5e6ee40",[19294],{"_key":19295,"_type":177,"marks":19296,"text":19297},"5aa7d7da74c10",[],"Reported diluted loss per share 53.2 cents (2020 – 143.2 cents)",[],{"_key":19300,"_type":173,"children":19301,"level":955,"listItem":2555,"markDefs":19306,"style":182},"fe6846c1c0f9",[19302],{"_key":19303,"_type":177,"marks":19304,"text":19305},"1c44a2c8aa910",[],"Net assets of $871.3m (31 December 2020 – $976.6m)",[],{"_key":19308,"_type":173,"children":19309,"level":955,"listItem":2555,"markDefs":19314,"style":182},"75fa96c93a02",[19310],{"_key":19311,"_type":177,"marks":19312,"text":19313},"cf40695033340",[],"Total cash and bank of $114.2m (31 December 2020 – $101.7m)**",[],{"_key":19316,"_type":173,"children":19317,"level":955,"listItem":2555,"markDefs":19322,"style":182},"703206f2ca04",[19318],{"_key":19319,"_type":177,"marks":19320,"text":19321},"c25d07ecf6730",[],"Final dividend of 4.0 cents per share proposed (2020 – 4.0 cents) and payable on 13 May 2022 to shareholders on the register on 22 April 2022, subject to approval at the Company’s AGM",[],{"_key":19324,"_type":173,"children":19325,"markDefs":19337,"style":182},"3a666a66f2ed",[19326,19330,19333],{"_key":19327,"_type":177,"marks":19328,"text":19329},"59d21d0b910c0",[216],"*Underlying results are based on reported results before amortisation of intangible assets recognised as part of a business combination and exceptional items. Reported results are based on the statutory results as reported under International Financial Reporting Standards as adopted by the UK.",{"_key":19331,"_type":177,"marks":19332,"text":1430},"59d21d0b910c1",[],{"_key":19334,"_type":177,"marks":19335,"text":19336},"59d21d0b910c2",[216],"**Non-GAAP measure. Please see the 2021 Annual Report and Accounts pages 216 to 221.",[],{"_key":19339,"_type":173,"children":19340,"markDefs":19344,"style":14843},"2af1e32f8408",[19341],{"_key":19342,"_type":177,"marks":19343,"text":17313},"0df9d5cf21630",[],[],{"_key":19346,"_type":173,"children":19347,"markDefs":19352,"style":182},"cc7d8d9ecfb0",[19348],{"_key":19349,"_type":177,"marks":19350,"text":19351},"dcddd8b23f100",[179],"Completion of a restructuring of European OCTG businesses, to prepare for the return to growth in the North Sea.",[],{"_key":19354,"_type":173,"children":19355,"level":955,"listItem":2555,"markDefs":19360,"style":182},"98c937463548",[19356],{"_key":19357,"_type":177,"marks":19358,"text":19359},"106e6e17bbf80",[],"Sale of $31.5m of inventory to Marubeni-Itochu (“MI”), as part of restructuring agreement, following an impairment charge of $5.2m.",[],{"_key":19362,"_type":173,"children":19363,"level":955,"listItem":2555,"markDefs":19368,"style":182},"a8b1eba8ef14",[19364],{"_key":19365,"_type":177,"marks":19366,"text":19367},"59ee79c29c0b0",[],"Hunting acquires MI’s 40% interest in the residual accessories manufacturing business for $3.8m and secures exclusive three-year threading services deal.",[],{"_key":19370,"_type":173,"children":19371,"level":955,"listItem":2555,"markDefs":19376,"style":182},"3071031b440f",[19372],{"_key":19373,"_type":177,"marks":19374,"text":19375},"f6f9d93c993b0",[],"Impairment of the Fordoun property by $8.6m and a provision of $0.9m recognised following the transaction.",[],{"_key":19378,"_type":173,"children":19379,"markDefs":19384,"style":182},"7f7e988a5c88",[19380],{"_key":19381,"_type":177,"marks":19382,"text":19383},"66c0a29efb2f0",[179],"$5.1m equity investment in Cumberland Additive Inc.",[],{"_key":19386,"_type":173,"children":19387,"level":955,"listItem":2555,"markDefs":19392,"style":182},"07c893b399c4",[19388],{"_key":19389,"_type":177,"marks":19390,"text":19391},"ab2d218151950",[],"Transaction gives Hunting access to new additive manufacturing and 3D printing technology.",[],{"_key":19394,"_type":173,"children":19395,"level":955,"listItem":2555,"markDefs":19400,"style":182},"3ad130b99158",[19396],{"_key":19397,"_type":177,"marks":19398,"text":19399},"4653d517394e0",[],"Provides the Group with further non-oil and gas and traditional energy opportunities.",[],{"_key":19402,"_type":173,"children":19403,"markDefs":19408,"style":182},"0b8d7d2e0de0",[19404],{"_key":19405,"_type":177,"marks":19406,"text":19407},"c2c300f3b6880",[179],"Joint venture agreement signed with Jindal SAW Limited to access high growth Indian OCTG market.",[],{"_key":19410,"_type":173,"children":19411,"level":955,"listItem":2555,"markDefs":19416,"style":182},"632c8e37ea5f",[19412],{"_key":19413,"_type":177,"marks":19414,"text":19415},"15962a30a22e0",[],"Hunting to enter a 49:51 joint venture company and will build a premium threading manufacturing facility in Nashik district, India during 2022.",[],{"_key":19418,"_type":173,"children":19419,"markDefs":19424,"style":182},"0cbd19e4eb34",[19420],{"_key":19421,"_type":177,"marks":19422,"text":19423},"5f644cc6f1000",[179],"$2.5m convertible financing provided to Well Data Labs (“WDL”).",[],{"_key":19426,"_type":173,"children":19427,"level":955,"listItem":2555,"markDefs":19432,"style":182},"88bead1d9ed6",[19428],{"_key":19429,"_type":177,"marks":19430,"text":19431},"8cb7010f5c9a0",[],"The agreement gives Hunting access to software and analytics capabilities.",[],{"_key":19434,"_type":173,"children":19435,"level":955,"listItem":2555,"markDefs":19440,"style":182},"6fcc08193df2",[19436],{"_key":19437,"_type":177,"marks":19438,"text":19439},"9a2fe226be330",[],"Hunting Titan collaborating with WDL on new products for US onshore completions market.",[],{"_key":19442,"_type":173,"children":19443,"markDefs":19448,"style":182},"43e1aa568d23",[19444],{"_key":19445,"_type":177,"marks":19446,"text":19447},"c9d735da9c860",[179],"Continued progress on building non-oil and gas capabilities.",[],{"_key":19450,"_type":173,"children":19451,"level":955,"listItem":2555,"markDefs":19456,"style":182},"f37127fe60c1",[19452],{"_key":19453,"_type":177,"marks":19454,"text":19455},"ed74bcebbe8b0",[],"The Group has pursued new sales opportunities in the year, with the development of defence, space and medical revenue streams.",[],{"_key":19458,"_type":173,"children":19459,"markDefs":19464,"style":182},"d8c91246591a",[19460],{"_key":19461,"_type":177,"marks":19462,"text":19463},"7109108364490",[179],"Subsea Spring business expanding rapidly, with good demand for titanium and steel stress joints.",[],{"_key":19466,"_type":173,"children":19467,"level":955,"listItem":2555,"markDefs":19472,"style":182},"d443619441c0",[19468],{"_key":19469,"_type":177,"marks":19470,"text":19471},"adc849286dba0",[],"Significant order wins in the Gulf of Mexico and internationally reported in December 2021 and January 2022.",[],{"_key":19474,"_type":173,"children":19475,"markDefs":19480,"style":182},"a91234856b69",[19476],{"_key":19477,"_type":177,"marks":19478,"text":19479},"26bec64e0ead0",[179],"Board Changes.",[],{"_key":19482,"_type":173,"children":19483,"level":955,"listItem":2555,"markDefs":19488,"style":182},"1605ef75ce4b",[19484],{"_key":19485,"_type":177,"marks":19486,"text":19487},"975afc924bb30",[],"As announced on 11 February 2022, Richard Hunting will retire from the Group after nearly 50 years of service on 20 April 2022.",[],{"_key":19490,"_type":173,"children":19491,"level":955,"listItem":2555,"markDefs":19496,"style":182},"829e90af66ff",[19492],{"_key":19493,"_type":177,"marks":19494,"text":19495},"868df8eddbeb0",[],"The Group also announces the proposed appointment of Paula Harris as a new independent, non-executive Director. The appointment is being submitted to shareholders for approval at the Company’s 2022 Annual General Meeting.",[],{"_key":19498,"_type":173,"children":19499,"markDefs":19503,"style":182},"2b00436747eb",[19500],{"_key":19501,"_type":177,"marks":19502,"text":201},"e892d7d510c90",[],[],{"_key":19505,"_type":173,"children":19506,"markDefs":19511,"style":182},"2b7238022c31",[19507],{"_key":19508,"_type":177,"marks":19509,"text":19510},"485f5fb334e80",[],"“Hunting’s trading outlook continues to brighten as the world steadily escapes the negative economic impact of COVID-19.",[],{"_key":19513,"_type":173,"children":19514,"markDefs":19519,"style":182},"3e1d1ca73c5e",[19515],{"_key":19516,"_type":177,"marks":19517,"text":19518},"7aaae05ff4f40",[],"“Years of under investment in the energy sector have narrowed the gap between supply and demand fundamentally providing the basis for an increase in oilfield service activity due to enhanced profitability for our E&P clients.",[],{"_key":19521,"_type":173,"children":19522,"markDefs":19527,"style":182},"0f360ef0712e",[19523],{"_key":19524,"_type":177,"marks":19525,"text":19526},"e08068dd881f0",[],"“For the Company, every business unit and region is witnessing increased demand for its products as evidenced by rising backlogs which have notably expanded since the start of the year given a new budget cycle.",[],{"_key":19529,"_type":173,"children":19530,"markDefs":19535,"style":182},"c73eb39da145",[19531],{"_key":19532,"_type":177,"marks":19533,"text":19534},"a8203c241b950",[],"“While COVID-19-related operational issues continue to persist into Q1 2022, albeit less as the days go on, the Company is well-positioned for a much-improved 2022 given our robust portfolio of technology-enhanced products coupled with the benefit of strategic moves undertaken in the past year”.",[],{"_key":19537,"_type":173,"children":19538,"markDefs":19542,"style":182},"dfcfd15539b6",[19539],{"_key":19540,"_type":177,"marks":19541,"text":1430},"731c13c47f820",[],[],[19544],{"_key":19545,"_ref":1713,"_type":141},"822a924f971c",[19547],{"_key":19548,"_type":10023,"asset":19549,"title":15497},"c4f68abd5c4b",{"_ref":19550,"_type":141},"file-2946b8aab510525bd00e76ed8a4bac781a1a891e-pdf","2022-03-03T12:26:00.000Z",{"_type":9,"current":19553},"03-03-2022",[19555,19557],{"_key":19556,"_ref":7180,"_type":141},"a860764dee58",{"_key":19558,"_ref":15507,"_type":141},"217535ef001d","Full Year Results","\u002Fnews\u002F03-03-2022",{"_createdAt":19562,"_id":19563,"_rev":8787,"_type":168,"_updatedAt":116,"body":19564,"categories":20049,"downloads":20052,"introText":19571,"publishedAt":20057,"slug":20058,"tags":20060,"title":20065,"url":20066},"2023-02-20T13:31:37Z","6f00fbd9-86da-40f2-b9de-95d74c1dedb9",[19565,19573,19581,19589,19597,19605,19613,19621,19629,19637,19645,19653,19661,19683,19690,19698,19706,19714,19721,19729,19741,19753,19765,19777,19789,19801,19813,19825,19832,19840,19848,19856,19864,19872,19879,19887,19897,19904,19912,19922,19938,19945,19953,19960,19970,19978,19985,19999,20013,20020,20027,20034,20042],{"_key":19566,"_type":173,"children":19567,"markDefs":19572,"style":182},"b940cc7763a7",[19568],{"_key":19569,"_type":177,"marks":19570,"text":19571},"0d73852969cc0",[],"Hunting PLC (LSE:HTG), the international energy services group, today announces its results for the six months to 30 June 2021.",[],{"_key":19574,"_type":173,"children":19575,"markDefs":19580,"style":14843},"1c065189bc65",[19576],{"_key":19577,"_type":177,"marks":19578,"text":19579},"1775457d4c010",[],"Financial Summary * \u002F **",[],{"_key":19582,"_type":173,"children":19583,"level":955,"listItem":2555,"markDefs":19588,"style":182},"3378926e0757",[19584],{"_key":19585,"_type":177,"marks":19586,"text":19587},"78e94880f6c30",[],"Revenue $244.4m (H2 2020 – $248.3m; H1 2020 – $377.7m)",[],{"_key":19590,"_type":173,"children":19591,"level":955,"listItem":2555,"markDefs":19596,"style":182},"97587dd7750c",[19592],{"_key":19593,"_type":177,"marks":19594,"text":19595},"d008f351fb880",[],"Gross profit $44.1m (H2 2020 – $42.2m; H1 2020 – $82.6m)",[],{"_key":19598,"_type":173,"children":19599,"level":955,"listItem":2555,"markDefs":19604,"style":182},"c93109a3b662",[19600],{"_key":19601,"_type":177,"marks":19602,"text":19603},"77e867718f960",[],"EBITDA loss $3.6m (H2 2020 – $2.3m loss; H1 2020 – $28.4m profit) **",[],{"_key":19606,"_type":173,"children":19607,"level":955,"listItem":2555,"markDefs":19612,"style":182},"6b4fb0e507e5",[19608],{"_key":19609,"_type":177,"marks":19610,"text":19611},"7764cf413d830",[],"Underlying loss from operations $23.0m (H2 2020 – $22.1m loss; H1 2020 – $5.7m profit)",[],{"_key":19614,"_type":173,"children":19615,"level":955,"listItem":2555,"markDefs":19620,"style":182},"c8498acd4559",[19616],{"_key":19617,"_type":177,"marks":19618,"text":19619},"b765aacb8c5b0",[],"Amortisation of acquired intangible assets and exceptional items totalling $3.5m (H2 2020 – $14.3m; H1 2020 – $189.3m)",[],{"_key":19622,"_type":173,"children":19623,"level":955,"listItem":2555,"markDefs":19628,"style":182},"0f6f5fd7cb80",[19624],{"_key":19625,"_type":177,"marks":19626,"text":19627},"13e9975cae870",[],"Reported loss from operations $26.5m (H2 2020 – $36.4m loss; H1 2020 – $183.6m loss)",[],{"_key":19630,"_type":173,"children":19631,"level":955,"listItem":2555,"markDefs":19636,"style":182},"56278923ecb1",[19632],{"_key":19633,"_type":177,"marks":19634,"text":19635},"7e2259037fa20",[],"Underlying diluted loss per share 16.1 cents (H2 2020 – 11.0 cents loss per share; H1 2020 – 1.0 cent earnings per share)",[],{"_key":19638,"_type":173,"children":19639,"level":955,"listItem":2555,"markDefs":19644,"style":182},"fb7189d68e25",[19640],{"_key":19641,"_type":177,"marks":19642,"text":19643},"f7ae2faf83f40",[],"Reported diluted loss per share 18.9 cents (H2 2020 – 17.5 cents loss per share; H1 2020 – 125.7 cents loss per share)",[],{"_key":19646,"_type":173,"children":19647,"level":955,"listItem":2555,"markDefs":19652,"style":182},"123bdb004a9a",[19648],{"_key":19649,"_type":177,"marks":19650,"text":19651},"1078422afc8b0",[],"Interim dividend declared for H1 2021 of 4.0 cents (H1 2020 – 2.0 cents)",[],{"_key":19654,"_type":173,"children":19655,"level":955,"listItem":2555,"markDefs":19660,"style":182},"277a421c8bfa",[19656],{"_key":19657,"_type":177,"marks":19658,"text":19659},"44f19d3b102a0",[],"Total cash and bank of $105.7m (31 December 2020 – $101.7m)***",[],{"_key":19662,"_type":173,"children":19663,"markDefs":19682,"style":182},"e3e159e070ad",[19664,19668,19671,19675,19678],{"_key":19665,"_type":177,"marks":19666,"text":19667},"b22d62c48a670",[216],"* Underlying results are non-GAAP measures and are before amortisation of acquired intangible assets and exceptional items. Reported results are based on the statutory results as reported under UK adopted International Financial Reporting Standards.",{"_key":19669,"_type":177,"marks":19670,"text":1430},"b22d62c48a671",[],{"_key":19672,"_type":177,"marks":19673,"text":19674},"b22d62c48a672",[216],"** - EBITDA is a non-GAAP measure. Please refer to pages 37 to 39 of the Half Year 2021 report for further information.",{"_key":19676,"_type":177,"marks":19677,"text":1430},"b22d62c48a673",[],{"_key":19679,"_type":177,"marks":19680,"text":19681},"b22d62c48a674",[216],"*** - Total cash and bank is a non-GAAP measure. Please see Note 13.",[],{"_key":19684,"_type":173,"children":19685,"markDefs":19689,"style":14843},"29c5ad7b9996",[19686],{"_key":19687,"_type":177,"marks":19688,"text":18828},"df8aeaebdcc90",[],[],{"_key":19691,"_type":173,"children":19692,"markDefs":19697,"style":13454},"78d162c41157",[19693],{"_key":19694,"_type":177,"marks":19695,"text":19696},"e4e9fb9e458b0",[216],"“The Group’s results reported today reflect a similar performance when compared to H2 2020 as the global oil and gas industry slowly emerges from the impact of the COVID-19 pandemic. The market recovery in the US, while slower than anticipated, shows clear signs of growth, which is projected to accelerate as more global economies reopen and travel increases. The recovery within international markets, while still projected to grow in H2 2021 and into 2022, continues to be hampered by spiking COVID-19 infection rates, leading to ongoing caution within our client base.",[],{"_key":19699,"_type":173,"children":19700,"markDefs":19705,"style":13454},"72479858f086",[19701],{"_key":19702,"_type":177,"marks":19703,"text":19704},"88b5c5c3a5a60",[216],"“Hunting has delivered on a number of strategic objectives in the period alongside our continuing drive for greater operating efficiency. These objectives include our new business investments in Well Data Labs and Cumberland Additive, which will assist the Group in diversifying our core competencies while increasing our overall technical offering to our clients. Management is further encouraged by the outlook for 2022, which is supported by a strengthening order book, as clients plan for new projects and robust commodity prices.",[],{"_key":19707,"_type":173,"children":19708,"markDefs":19713,"style":13454},"ee8058fd6e76",[19709],{"_key":19710,"_type":177,"marks":19711,"text":19712},"4f190ce950a40",[216],"“The Group continues to retain strong capital discipline across all areas of the business, which will see our balance sheet and cash and bank position remaining strong. However, given the overall trading seen in the current quarter and likely EBITDA run rate for the balance of the year, management now anticipates the 2021 full year EBITDA outturn to be c.$10m lower than the 2020 result, given the slower-than-anticipated recovery within our core energy markets.”",[],{"_key":19715,"_type":173,"children":19716,"markDefs":19720,"style":14843},"715d4fe38540",[19717],{"_key":19718,"_type":177,"marks":19719,"text":18860},"a02673b7a5530",[],[],{"_key":19722,"_type":173,"children":19723,"markDefs":19728,"style":182},"b85ccff3f7ae",[19724],{"_key":19725,"_type":177,"marks":19726,"text":19727},"15e17f5762ec0",[],"The Group has delivered on a number of strategic objectives during 2021:",[],{"_key":19730,"_type":173,"children":19731,"level":955,"listItem":2555,"markDefs":19740,"style":182},"82570b510f29",[19732,19736],{"_key":19733,"_type":177,"marks":19734,"text":19735},"b740873ebe270",[179],"Investment in Cumberland Additive Holdings LLC.",{"_key":19737,"_type":177,"marks":19738,"text":19739},"b740873ebe271",[]," In August 2021, the Group made a $5.0m equity investment in Cumberland Additive Holdings (“CAH”). CAH is a strong growth business providing 3D printing and additive manufacturing capabilities to clients operating in the oil and gas, aerospace and defence sectors. The investment provides Hunting with new manufacturing opportunities and new market channels, providing further potential for revenue diversification.",[],{"_key":19742,"_type":173,"children":19743,"level":955,"listItem":2555,"markDefs":19752,"style":182},"c58d999ec4bb",[19744,19748],{"_key":19745,"_type":177,"marks":19746,"text":19747},"c66b732860780",[179],"Investment in Well Data Labs.",{"_key":19749,"_type":177,"marks":19750,"text":19751},"c66b732860781",[]," In February 2021, the Group entered into an agreement to provide $2.5m of convertible financing to Well Data Labs (“WDL”), a software business focused on oil and gas drilling data processing. The business has rapidly grown a blue-chip customer base within the upstream energy industry since the company was founded in 2014. Since the strategic investment was concluded, Hunting and WDL have begun a number of collaborative programmes, combining the Group’s perforating products and instruments and the software of WDL.",[],{"_key":19754,"_type":173,"children":19755,"level":955,"listItem":2555,"markDefs":19764,"style":182},"99472dba3dd6",[19756,19760],{"_key":19757,"_type":177,"marks":19758,"text":19759},"3e8279446e0e0",[179],"Established Hunting Energy Services India.",{"_key":19761,"_type":177,"marks":19762,"text":19763},"3e8279446e0e1",[]," In March 2021, the Group completed the incorporation of an entity in India to address growth opportunities in-country, driven by the local content requirements of India’s oil and gas industry. The Group has already benefited from a strong relationship with Jindal SAW, its partner in the country, and is exploring new collaboration projects in the supply of OCTG and accessories manufacturing.",[],{"_key":19766,"_type":173,"children":19767,"level":955,"listItem":2555,"markDefs":19776,"style":182},"91db1e532b6f",[19768,19772],{"_key":19769,"_type":177,"marks":19770,"text":19771},"0bb129832a580",[179],"Launch of H-3 Perforating System.",{"_key":19773,"_type":177,"marks":19774,"text":19775},"0bb129832a581",[]," In late Q2 2021, Hunting Titan launched the H-3 Perforating System to complement its existing integrated perforating systems portfolio. The H-3 Perforating System takes many of the reliability and safety features of Hunting’s H-1 Perforating System and incorporates the industry’s first wireless safe detonator and the latest switch technology, the ControlFire V3. The H-3 System is shorter than Hunting’s H-1 System and other conventional guns, in line with industry efforts to reduce tool string length and weight. The H-3 System is also compatible with industry standard shaped charges, thus widening the appeal of this product to operators.",[],{"_key":19778,"_type":173,"children":19779,"level":955,"listItem":2555,"markDefs":19788,"style":182},"0f7dfafa13c4",[19780,19784],{"_key":19781,"_type":177,"marks":19782,"text":19783},"055a319c01f90",[179],"Increased Production of Factory-loaded Perforating Systems.",{"_key":19785,"_type":177,"marks":19786,"text":19787},"055a319c01f91",[]," A key initiative within the reporting period has been to increase production of factory-loaded perforating systems. During H2 2020, Hunting Titan completed an investment at its Milford, Texas, facility to address this customer requirement and during H1 2021 has seen strong sales for this offering, contributing to the strengthening revenue of the segment through the reporting period. As at 30 June 2021, more than 40% of total perforating gun sales were derived from this new offering.",[],{"_key":19790,"_type":173,"children":19791,"level":955,"listItem":2555,"markDefs":19800,"style":182},"7159679cdfe8",[19792,19796],{"_key":19793,"_type":177,"marks":19794,"text":19795},"8256333da5300",[179],"Further Commercialisation of Organic Oil Recovery Technology.",{"_key":19797,"_type":177,"marks":19798,"text":19799},"8256333da5301",[]," In H1 2021, the Group secured its first major well treatment programme with a major Bahraini operator. The c.$1.0m order will see the completion of a 30 well programme to increase production of mature fields. Hunting is in the process of negotiating an extension to its exclusive marketing agreement with the owner of the technology, which will extend the Group’s geographic footprint to include all countries in the Eastern hemisphere, in addition to providing financial support for the construction of a test laboratory in the Middle East where a number of existing and potential customers are located. The technology continues to be closely monitored by major international energy groups.",[],{"_key":19802,"_type":173,"children":19803,"level":955,"listItem":2555,"markDefs":19812,"style":182},"dfff374324a0",[19804,19808],{"_key":19805,"_type":177,"marks":19806,"text":19807},"6c54f88449650",[179],"Consolidation of Singapore Facilities.",{"_key":19809,"_type":177,"marks":19810,"text":19811},"6c54f88449651",[]," In the period, the Board approved a $3.0m project to consolidate the Group’s existing sites in Singapore to a single, purpose-built location. The new operating site, to be operational by Q2 2022, will improve in-country synergies as it will combine the regional administration function and the OCTG, Accessories and Well Intervention manufacturing businesses.",[],{"_key":19814,"_type":173,"children":19815,"level":955,"listItem":2555,"markDefs":19824,"style":182},"b510f71ab4ab",[19816,19820],{"_key":19817,"_type":177,"marks":19818,"text":19819},"4b17e9f0a7520",[179],"Proposed launch of a Level 2 Sponsored American Depositary Receipt (“ADR”) programme.",{"_key":19821,"_type":177,"marks":19822,"text":19823},"4b17e9f0a7521",[]," The Board of Hunting has begun planning for the launch of a level 2 sponsored ADR programme, to enable Hunting shares to be traded more easily by US investors. The programme is likely to commence towards the end of 2021, following the appointment of a suitable sponsor and the receipt of approvals from the relevant US regulatory authorities. The Directors have commenced this process to increase the profile of Hunting with US investors, as the US has been the core of Hunting’s business for a number of years, driving the majority of revenue and profits, and the US is where most of our quoted peers are listed.",[],{"_key":19826,"_type":173,"children":19827,"markDefs":19831,"style":14843},"ec7899471791",[19828],{"_key":19829,"_type":177,"marks":19830,"text":262},"d1c35f94a9970",[],[],{"_key":19833,"_type":173,"children":19834,"level":955,"listItem":2555,"markDefs":19839,"style":182},"c7a8f67318a6",[19835],{"_key":19836,"_type":177,"marks":19837,"text":19838},"7f39bd4a72f10",[],"Revenue $244.4m (H2 2020 – $248.3m; H1 2020 – $377.7m).",[],{"_key":19841,"_type":173,"children":19842,"level":955,"listItem":2555,"markDefs":19847,"style":182},"b541248a4efd",[19843],{"_key":19844,"_type":177,"marks":19845,"text":19846},"c8f1767629250",[],"The Group reports an EBITDA loss of $3.6m for the six months to 30 June 2021, with an EBITDA loss reported in Q1 2021 followed by a small profit in Q2 2021 as trading conditions improved within the US onshore market.",[],{"_key":19849,"_type":173,"children":19850,"level":955,"listItem":2555,"markDefs":19855,"style":182},"56c9955261c4",[19851],{"_key":19852,"_type":177,"marks":19853,"text":19854},"a086c5b82bc30",[],"Total cash and bank reported at 30 June 2021 of $105.7m (31 December 2020 – $101.7m).",[],{"_key":19857,"_type":173,"children":19858,"level":955,"listItem":2555,"markDefs":19863,"style":182},"739ce1041f6c",[19859],{"_key":19860,"_type":177,"marks":19861,"text":19862},"b15e282f18040",[],"Interim dividend of 4.0 cents per share declared in respect of H1 2021 (H1 2020 – 2.0 cents per share), absorbing cash of approximately $6.5m (H1 2020 – $3.3m), payable to shareholders on 29 October 2021, with a record date of 8 October 2021.",[],{"_key":19865,"_type":173,"children":19866,"level":955,"listItem":2555,"markDefs":19871,"style":182},"71a2f1fe1c49",[19867],{"_key":19868,"_type":177,"marks":19869,"text":19870},"3499704483f80",[],"Net assets as at 30 June 2021 of $940.0m (31 December 2020 – $976.6m).",[],{"_key":19873,"_type":173,"children":19874,"markDefs":19878,"style":14843},"b927831a5ba5",[19875],{"_key":19876,"_type":177,"marks":19877,"text":9501},"23ff765f9fe50",[],[],{"_key":19880,"_type":173,"children":19881,"markDefs":19886,"style":182},"38930b5a0016",[19882],{"_key":19883,"_type":177,"marks":19884,"text":19885},"5d07537003210",[],"For access to the Half Year Management Report narrative for the six months to 30 June 2021 please click on the following link.",[],{"_key":19888,"_type":173,"children":19889,"markDefs":19895,"style":182},"eb8685a376a0",[19890],{"_key":19891,"_type":177,"marks":19892,"text":19894},"bb8631cab2cf0",[19893],"b2f6f6eb978d","http:\u002F\u002Fwww.rns-pdf.londonstockexchange.com\u002Frns\u002F7963J_1-2021-8-25.pdf",[19896],{"_key":19893,"_type":138,"href":19894},{"_key":19898,"_type":173,"children":19899,"markDefs":19903,"style":14843},"a7bf8544bd69",[19900],{"_key":19901,"_type":177,"marks":19902,"text":1017},"cd34694354780",[],[],{"_key":19905,"_type":173,"children":19906,"markDefs":19911,"style":182},"09026d8a9f9c",[19907],{"_key":19908,"_type":177,"marks":19909,"text":19910},"2cd8a3721e310",[],"For access to the Condensed Consolidated Financial Statements and Notes for the six months to 30 June 2021 please click on the following link.",[],{"_key":19913,"_type":173,"children":19914,"markDefs":19920,"style":182},"e725cd5219a1",[19915],{"_key":19916,"_type":177,"marks":19917,"text":19919},"f6443fbf4ba60",[19918],"e3eafee87d3b","http:\u002F\u002Fwww.rns-pdf.londonstockexchange.com\u002Frns\u002F7963J_2-2021-8-25.pdf",[19921],{"_key":19918,"_type":138,"href":19919},{"_key":19923,"_type":173,"children":19924,"markDefs":19936,"style":182},"8b33f2fb6eb4",[19925,19929,19933],{"_key":19926,"_type":177,"marks":19927,"text":19928},"81cffcbcd8b80",[],"The attached documents provide complete access to the Group’s 2021 Half Year Report. The Report can also be accessed at ",{"_key":19930,"_type":177,"marks":19931,"text":2296},"81cffcbcd8b81",[19932],"0167167bb814",{"_key":19934,"_type":177,"marks":19935,"text":3208},"81cffcbcd8b82",[],[19937],{"_key":19932,"_type":138,"href":2303},{"_key":19939,"_type":173,"children":19940,"markDefs":19944,"style":14843},"a3e825e9537b",[19941],{"_key":19942,"_type":177,"marks":19943,"text":19106},"a1830c4d5dfb0",[],[],{"_key":19946,"_type":173,"children":19947,"markDefs":19952,"style":182},"246580928537",[19948],{"_key":19949,"_type":177,"marks":19950,"text":19951},"e57497b790390",[],"Hunting PLC will host an analyst meeting and webcast on Thursday 26 August 2021 commencing at 9:30a.m. BST.",[],{"_key":19954,"_type":173,"children":19955,"markDefs":19959,"style":182},"4bbf3ed4c875",[19956],{"_key":19957,"_type":177,"marks":19958,"text":17733},"49f505726dc60",[],[],{"_key":19961,"_type":173,"children":19962,"markDefs":19968,"style":182},"3fb306568539",[19963],{"_key":19964,"_type":177,"marks":19965,"text":19967},"ea54e4b327040",[19966],"3b55823e41f6","https:\u002F\u002Fwebcasting.buchanan.uk.com\u002Fbroadcast\u002F60e6af2a1ba1724bfa99fe39",[19969],{"_key":19966,"_type":138,"href":19967},{"_key":19971,"_type":173,"children":19972,"markDefs":19977,"style":182},"fc73376d02bf",[19973],{"_key":19974,"_type":177,"marks":19975,"text":19976},"90aa0afa2f340",[],"Analysts wishing to participate in a Q&A session can do so by submitting questions via the chat function of the webcast and these will be addressed by management during the live webcast. If you have any queries relating to this then please email hunting@buchanan.uk.com",[],{"_key":19979,"_type":173,"children":19980,"markDefs":19984,"style":182},"55ec58aadbe0",[19981],{"_key":19982,"_type":177,"marks":19983,"text":1126},"e45e6f7776cd0",[],[],{"_key":19986,"_type":173,"children":19987,"markDefs":19998,"style":182},"bd5b6dbdb4de",[19988,19991,19995],{"_key":19989,"_type":177,"marks":19990,"text":1134},"725f1f8c96df0",[179],{"_key":19992,"_type":177,"marks":19993,"text":19994},"725f1f8c96df1",[],"\nJim Johnson, Chief Executive\nBruce Ferguson, Finance Director\nTarryn Riley, Investor Relations\n",{"_key":19996,"_type":177,"marks":19997,"text":1165},"725f1f8c96df2",[179],[],{"_key":20000,"_type":173,"children":20001,"markDefs":20012,"style":182},"44f7a787b6b9",[20002,20005,20009],{"_key":20003,"_type":177,"marks":20004,"text":8934},"540c196d09420",[179],{"_key":20006,"_type":177,"marks":20007,"text":20008},"540c196d09421",[],"\nBen Romney\nChris Judd\nHannah Ratcliff\n",{"_key":20010,"_type":177,"marks":20011,"text":8958},"540c196d09422",[179],[],{"_key":20014,"_type":173,"children":20015,"markDefs":20019,"style":182},"3758f29e96f9",[20016],{"_key":20017,"_type":177,"marks":20018,"text":10958},"5c9838d241b60",[179],[],{"_key":20021,"_type":173,"children":20022,"markDefs":20026,"style":182},"11559c06c571",[20023],{"_key":20024,"_type":177,"marks":20025,"text":12234},"1b4dbd228e880",[],[],{"_key":20028,"_type":173,"children":20029,"markDefs":20033,"style":182},"2128db11f2b2",[20030],{"_key":20031,"_type":177,"marks":20032,"text":16202},"f3704500651a0",[],[],{"_key":20035,"_type":173,"children":20036,"markDefs":20041,"style":182},"f823227c4e52",[20037],{"_key":20038,"_type":177,"marks":20039,"text":20040},"fabafe85b5990",[],"The Group reports in US dollars across four operating segments: Hunting Titan; North America; Europe, Middle East and Africa (“EMEA”); and Asia Pacific.",[],{"_key":20043,"_type":173,"children":20044,"markDefs":20048,"style":182},"83d538451a75",[20045],{"_key":20046,"_type":177,"marks":20047,"text":1309},"a0b5cda986bd0",[],[],[20050],{"_key":20051,"_ref":1713,"_type":141},"a2716119679a",[20053],{"_key":20054,"_type":10023,"asset":20055,"title":15497},"1c22f49249a5",{"_ref":20056,"_type":141},"file-f28397b9389364734fac9426c88413cacacb9dc7-pdf","2021-08-26T12:32:00.000Z",{"_type":9,"current":20059},"26-08-2021",[20061,20063],{"_key":20062,"_ref":7180,"_type":141},"b618e58ee578",{"_key":20064,"_ref":15507,"_type":141},"0d682b94835b","Half Year Results","\u002Fnews\u002F26-08-2021",{"_createdAt":20068,"_id":20069,"_rev":16709,"_type":168,"_updatedAt":116,"body":20070,"categories":20191,"downloads":20194,"introText":20200,"mainImage":20201,"publishedAt":20205,"slug":20206,"tags":20208,"title":20211,"url":20212},"2023-02-20T12:39:07Z","aa475e78-9586-4849-baac-13c04da4cb40",[20071,20079,20087,20095,20103,20111,20119,20127,20135,20143,20151,20159,20167,20175,20183],{"_key":20072,"_type":173,"children":20073,"markDefs":20078,"style":14843},"16993759873d",[20074],{"_key":20075,"_type":177,"marks":20076,"text":20077},"d91ae6dbc5a80",[],"Application",[],{"_key":20080,"_type":173,"children":20081,"markDefs":20086,"style":182},"e9ec101120b6",[20082],{"_key":20083,"_type":177,"marks":20084,"text":20085},"d3efe48871fb",[],"Service companies are seeking operational efficiency for perforations and completions. Addressable switches have become the most common type of switch due to their skip-over firing capability, reliability, and safety. This improves efficiency and creates cost savings by eliminating Non-Productive Time (NPT) associated with troubleshooting misruns. ",[],{"_key":20088,"_type":173,"children":20089,"markDefs":20094,"style":14843},"78cfe24495c9",[20090],{"_key":20091,"_type":177,"marks":20092,"text":20093},"05c9ba6b152e",[],"Technology ",[],{"_key":20096,"_type":173,"children":20097,"markDefs":20102,"style":182},"b67686562dec",[20098],{"_key":20099,"_type":177,"marks":20100,"text":20101},"3f3939250dd0",[],"The ControlFire® System is the most widely used surface-safe, addressable select-fire switch in the market. It is safe from stray voltage, electrostatic discharge and radio frequencies, while also allowing perforating guns to be fired individually from bottom to top via addressable software, without relying on the previous detonation to fire the next gun. This provides skip-over capabilities in the event of a misfired gun. The ControlFire® Switch has been run over 5 million times, with a success rate of 99.999%.",[],{"_key":20104,"_type":173,"children":20105,"markDefs":20110,"style":14843},"32f671885989",[20106],{"_key":20107,"_type":177,"marks":20108,"text":20109},"e241d5b4af690",[],"On-site Performance",[],{"_key":20112,"_type":173,"children":20113,"markDefs":20118,"style":182},"006a9f18ca8f",[20114],{"_key":20115,"_type":177,"marks":20116,"text":20117},"b14b200c772c0",[],"A major land-based service company’s crews set new national proppant pump record using Hunting’s ControlFire® technology in the Permian Basin. In one month, they were able to run an average of 22.8 stages per day— with a total of 10,802 ControlFire switches in perforating guns and 684 switches in setting tools— and experienced zero lost time during all 684 stages. The customer completed the well two weeks ahead of schedule. ",[],{"_key":20120,"_type":173,"children":20121,"markDefs":20126,"style":182},"8b51a7efed93",[20122],{"_key":20123,"_type":177,"marks":20124,"text":20125},"2f9360309b32",[],"The local site supervisor noted that “ControlFire played a big part in that, due to the fact that we didn’t experience any misruns and maintained “low Non-Productive Time.”",[],{"_key":20128,"_type":173,"children":20129,"markDefs":20134,"style":14843},"543cf6d6783f",[20130],{"_key":20131,"_type":177,"marks":20132,"text":20133},"d93763506b530",[],"Well summary",[],{"_key":20136,"_type":173,"children":20137,"level":955,"listItem":2555,"markDefs":20142,"style":182},"0f5fb0d95ebb",[20138],{"_key":20139,"_type":177,"marks":20140,"text":20141},"e3ae1feba3510",[],"Zero lost time for 684 stages ",[],{"_key":20144,"_type":173,"children":20145,"level":955,"listItem":2555,"markDefs":20150,"style":182},"eacd47c8c0b8",[20146],{"_key":20147,"_type":177,"marks":20148,"text":20149},"9fcc7a0cc34d",[],"At an average rate of 22.8 stages per day ",[],{"_key":20152,"_type":173,"children":20153,"level":955,"listItem":2555,"markDefs":20158,"style":182},"528045121f28",[20154],{"_key":20155,"_type":177,"marks":20156,"text":20157},"17df53ba1dd4",[],"Ran 11,486 ControlFire switches for guns and setting tools ",[],{"_key":20160,"_type":173,"children":20161,"level":955,"listItem":2555,"markDefs":20166,"style":182},"218439a02786",[20162],{"_key":20163,"_type":177,"marks":20164,"text":20165},"1937a7368543",[],"Their perforating speed and efficiency with ControlFire contributed to setting a U.S. pump-down record ",[],{"_key":20168,"_type":173,"children":20169,"level":955,"listItem":2555,"markDefs":20174,"style":182},"a38fb53e2f49",[20170],{"_key":20171,"_type":177,"marks":20172,"text":20173},"7ddf580f847e",[],"Customer completed this well two weeks ahead of schedule",[],{"_key":20176,"_type":173,"children":20177,"markDefs":20182,"style":14843},"01437bd27473",[20178],{"_key":20179,"_type":177,"marks":20180,"text":20181},"3ceae49bdfe7",[],"Outcome",[],{"_key":20184,"_type":173,"children":20185,"markDefs":20190,"style":182},"90b25582d8bf",[20186],{"_key":20187,"_type":177,"marks":20188,"text":20189},"933b03b17006",[],"The ControlFire system is the industry standard for a safe and reliable addressable switch while increasing perforating efficiencies and reducing NPT. The system has evolved in both product offering and functionality to provide the leading RF-safe, select-fire platform for perforating applications around the globe. Recent additions include advanced switch and cartridge technology, upgraded software, and faster communication protocols.",[],[20192],{"_key":20193,"_ref":9905,"_type":141},"61f641032021",[20195],{"_key":20196,"_type":10023,"asset":20197,"title":20199},"ef373ebf50fd",{"_ref":20198,"_type":141},"file-0fea93e09bc1f7bfbacdef235f5720599aea7922-pdf","Download case study","ControlFire Helps Set U.S. Pumpdown Record in the Permian Basin",{"_type":146,"alt":20202,"asset":20203},"Control fire rendering",{"_ref":20204,"_type":141},"image-c8b24e2f8f8ea12cd82e7baada0aea6e3f9e076e-2560x1600-jpg","2021-05-21T12:48:00.000Z",{"_type":9,"current":20207},"controlfire-sets-completions-record",[20209],{"_key":20210,"_ref":13906,"_type":141},"16e143935699","ControlFire® Sets Completions Record","\u002Fnews\u002Fcontrolfire-sets-completions-record",{"_createdAt":20214,"_id":20215,"_rev":16709,"_type":168,"_updatedAt":116,"body":20216,"categories":20284,"downloads":20287,"introText":20292,"mainImage":20293,"publishedAt":20297,"slug":20298,"tags":20300,"title":20303,"url":20304},"2023-02-20T13:15:26Z","5e1f9fca-68ce-414e-9dcf-50429bb9ade8",[20217,20225,20233,20241,20249,20261,20269,20276],{"_key":20218,"_type":173,"children":20219,"markDefs":20224,"style":14843},"fcebe8b61932",[20220],{"_key":20221,"_type":177,"marks":20222,"text":20223},"82a5e4f170e1",[],"Challenge",[],{"_key":20226,"_type":173,"children":20227,"markDefs":20232,"style":182},"07a6a4c9859e",[20228],{"_key":20229,"_type":177,"marks":20230,"text":20231},"54cfed6cf4f2",[],"Globally, operators are demanding increased perforating efficiencies, improved safety, and reduced non-productive time (NPT). ",[],{"_key":20234,"_type":173,"children":20235,"markDefs":20240,"style":14843},"b29127af2d78",[20236],{"_key":20237,"_type":177,"marks":20238,"text":20239},"c08963d6bdf0",[],"Solution",[],{"_key":20242,"_type":173,"children":20243,"markDefs":20248,"style":182},"974450c78d80",[20244],{"_key":20245,"_type":177,"marks":20246,"text":20247},"15ba022e1316",[],"The rising popularity of the ESUB in international markets is providing a simple, yet reliable, method of using the CFC with the most common perforating guns in the industry. The ESUB is a semi premium, cost efficient plug-and-play solution for the conventional perforating gun system. The ESUB is installed in a conventional gun to provide a degree of “smart gun” capability. ESUB utilizes ControlFire® Cartridge technology, allowing for simple, wire-free arming and assembly. The CFC combines the trio of bulkhead, switch, and detonator into a plug-and-play cartridge that only Hunting can provide. This patented technology greatly reduces service quality errors while simplifying the arming process of the perforating gun. The ESUB can therefore be armed without wiring switch and detonator. Instead, the CFC containing the switch and detonator is simply screwed into the bottom end of the gun. ",[],{"_key":20250,"_type":173,"children":20251,"markDefs":20260,"style":182},"ff92c385ff4e",[20252,20256],{"_key":20253,"_type":177,"marks":20254,"text":20255},"cc76b8edbd5d",[216],"“We have seen an abundant increase in the use of ESUB for the global market over the past couple of years. Our customers continue to look for opportunities to simplify their operations with added operational flexibility. ESUB provides them the ability to use their existing technolgy and improve their operating efficiencies.”\n",{"_key":20257,"_type":177,"marks":20258,"text":20259},"ff9e5149a7d1",[],"– Jason Mai, Managing Director Hunting’s Titan Division ",[],{"_key":20262,"_type":173,"children":20263,"markDefs":20268,"style":182},"3f0e84fdd728",[20264],{"_key":20265,"_type":177,"marks":20266,"text":20267},"bc6f8c339a92",[],"Contained within the CFC is the ControlFire® switch itself. ControlFire® is the most widely used surface-safe, addressable select-fire switch in the market. It is safe from stray voltage, electrostatic discharge and radio frequencies, while also allowing perforating guns to be fired individually from bottom to top via addressable software, without relying on the previous detonation to fire the next gun. This provides skip-over capabilities in the event of a misfired gun. The ControlFire® Switch has been run over 5 million times, with a success rate of 99.999%. ",[],{"_key":20270,"_type":173,"children":20271,"markDefs":20275,"style":14843},"5ad41e73e732",[20272],{"_key":20273,"_type":177,"marks":20274,"text":20181},"e4a444f4019a",[],[],{"_key":20277,"_type":173,"children":20278,"markDefs":20283,"style":182},"5203e6edb482",[20279],{"_key":20280,"_type":177,"marks":20281,"text":20282},"a4360150f620",[],"Hunting’s ESUB, the plug-and-play solution to the standard perforating gun, is quickly becoming one of the foremost detonation systems for perforating worldwide. Major operators are adopting the technology in the Asia Pacific region, including China, as well as the Middle-East and Latin America.",[],[20285],{"_key":20286,"_ref":9905,"_type":141},"237fd56b2a61",[20288],{"_key":20289,"_type":10023,"asset":20290,"title":20199},"a0a762e66ceb",{"_ref":20291,"_type":141},"file-4fd0dcfe51d67226b1b4ce9611530c00223dc763-pdf","Recent technological innovations from Hunting’s Titan Division, combined with our worldwide distribution network, have lead to widespread global adoption of the Efficiency Sub (ESUB) with our patented ControlFire® Cartridge (CFC). ",{"_type":146,"alt":20294,"asset":20295},"ESUB rendering",{"_ref":20296,"_type":141},"image-56c354203a5373d2ed88cecca399624661baa9ab-2223x1250-jpg","2021-05-14T09:53:00.000Z",{"_type":9,"current":20299},"esub-international-adoption",[20301],{"_key":20302,"_ref":13906,"_type":141},"52deac8efea1","ESUB International Adoption","\u002Fnews\u002Fesub-international-adoption",{"_createdAt":20306,"_id":20307,"_rev":7809,"_type":168,"_updatedAt":116,"body":20308,"categories":20517,"introText":20315,"publishedAt":20520,"slug":20521,"tags":20523,"title":20528,"url":20529},"2023-02-20T13:35:11Z","6c4bb5dd-326d-4947-a5fd-fface8923c8f",[20309,20317,20325,20333,20341,20349,20357,20365,20373,20381,20389,20397,20404,20412,20420,20428,20436,20443,20450,20458,20466,20474,20481,20488,20495,20502,20510],{"_key":20310,"_type":173,"children":20311,"markDefs":20316,"style":182},"afbc232bd9b0",[20312],{"_key":20313,"_type":177,"marks":20314,"text":20315},"52377fe0c9e70",[],"Hunting PLC (LSE:HTG), the international energy services group, issues the following Trading Update for Q1 2021, ahead of its Annual General Meeting that will take place today at 2:30p.m. BST.",[],{"_key":20318,"_type":173,"children":20319,"markDefs":20324,"style":182},"be8e1ad1c5fc",[20320],{"_key":20321,"_type":177,"marks":20322,"text":20323},"3e435675c46f0",[],"Industry sentiment has continued to improve throughout the quarter, as WTI oil prices have strengthened from $49 per barrel at the start of the year to $63 per barrel currently, an increase of 29%.",[],{"_key":20326,"_type":173,"children":20327,"markDefs":20332,"style":182},"032c4238c8ab",[20328],{"_key":20329,"_type":177,"marks":20330,"text":20331},"8698120169a80",[],"The Board is closely monitoring industry participants and commentators, which include activity and capital spending projections, and is encouraged that strong upgrades to expectations have been published in recent weeks for Q2 2021 and beyond. It is on this basis that management believes that 2021 will be an improving year for the Company as stability returns to the global oil and gas market.",[],{"_key":20334,"_type":173,"children":20335,"markDefs":20340,"style":182},"7e9955326feb",[20336],{"_key":20337,"_type":177,"marks":20338,"text":20339},"8a5c11825dc50",[],"Trading in Q1 2021 has been broadly in line with management expectations, with a small EBITDA loss being recorded, predominantly driven by subdued offshore drilling activity throughout H2 2020 and into 2021. Activity at the Group’s facilities in Texas was also impacted for a week in February 2021, due to the severe weather across the state.",[],{"_key":20342,"_type":173,"children":20343,"markDefs":20348,"style":182},"d95531eb90a8",[20344],{"_key":20345,"_type":177,"marks":20346,"text":20347},"c15f8246eab10",[],"Revenue within Hunting Titan has reported improvement in Q1 2021 compared to Q4 2020, as US onshore activity continues its return to growth. Hunting Titan’s March 2021 result was also its best performance since April 2020, when global lockdown measures were implemented.",[],{"_key":20350,"_type":173,"children":20351,"markDefs":20356,"style":182},"783a516429b1",[20352],{"_key":20353,"_type":177,"marks":20354,"text":20355},"0d36d8e68cb90",[],"Revenue within the Group’s other operating segments has also stabilised as the WTI oil price has improved. As previously indicated, management believes that most of the Group’s segments will see a stronger performance from late Q2 2021 onwards.",[],{"_key":20358,"_type":173,"children":20359,"markDefs":20364,"style":182},"7439435aed12",[20360],{"_key":20361,"_type":177,"marks":20362,"text":20363},"53a26c260e9d0",[],"The Group’s Balance Sheet remains robust with good liquidity, including undrawn core bank borrowing facilities of $160.0 million committed until December 2022, and a cash at bank position of c.$96.1 million at 31 March 2021, compared to $101.7 million at 31 December 2020. Inventory levels continue to reduce and were approximately c.$274.3 million at the end of Q1 2021, compared to $288.4 million at the 2020 year-end.",[],{"_key":20366,"_type":173,"children":20367,"markDefs":20372,"style":182},"f3fbd0c3be55",[20368],{"_key":20369,"_type":177,"marks":20370,"text":20371},"8bc2a165bea00",[],"The final dividend declared for 2020 of 4.0 cents per share is due for payment on 14 May 2021 which will absorb c.$6.5 million.",[],{"_key":20374,"_type":173,"children":20375,"markDefs":20380,"style":182},"2c507f15c1a0",[20376],{"_key":20377,"_type":177,"marks":20378,"text":20379},"e3d3dd7cbe740",[],"Commenting on Q1 2021 trading and the market outlook, Hunting’s Chief Executive, Jim Johnson said:",[],{"_key":20382,"_type":173,"children":20383,"markDefs":20388,"style":13454},"d50bd1c9de1b",[20384],{"_key":20385,"_type":177,"marks":20386,"text":20387},"73547056fd280",[216],"“As anticipated, whilst Q1 trading has remained subdued, our Hunting Titan segment reports quarter-on-quarter revenue growth alongside the stabilisation of revenue within our other operating segments. Green shoots of growth across most of our product lines are visible and this, combined with evidence that expectations for industry activity and capital spending continue to be upgraded, supports management’s view that Hunting is well positioned for a return to growth in 2021.”",[],{"_key":20390,"_type":173,"children":20391,"markDefs":20396,"style":13454},"04496aea75aa",[20392],{"_key":20393,"_type":177,"marks":20394,"text":20395},"2739a2fcf27c0",[216],"“Management actions in 2020 have reduced the Group’s cost base, with annualised cost savings of $86.0 million being realised. Our global footprint and strong balance sheet leave the Group well positioned to benefit from the recovery that is expected to continue throughout the balance of the year.”",[],{"_key":20398,"_type":173,"children":20399,"markDefs":20403,"style":182},"b4333b16d8cf",[20400],{"_key":20401,"_type":177,"marks":20402,"text":1126},"17844719ed990",[],[],{"_key":20405,"_type":173,"children":20406,"markDefs":20411,"style":182},"2bea99cc4324",[20407],{"_key":20408,"_type":177,"marks":20409,"text":20410},"f6e1f064bef00",[179],"HUNTING PLC",[],{"_key":20413,"_type":173,"children":20414,"markDefs":20419,"style":182},"6c7178739ccd",[20415],{"_key":20416,"_type":177,"marks":20417,"text":20418},"5de7d983d8e90",[],"JIM JOHNSON, CHIEF EXECUTIVE",[],{"_key":20421,"_type":173,"children":20422,"markDefs":20427,"style":182},"fc5122bf2bba",[20423],{"_key":20424,"_type":177,"marks":20425,"text":20426},"f1929c5d1b170",[],"BRUCE FERGUSON, FINANCE DIRECTOR",[],{"_key":20429,"_type":173,"children":20430,"markDefs":20435,"style":182},"07412477822b",[20431],{"_key":20432,"_type":177,"marks":20433,"text":20434},"39a430bb660c0",[],"TARRYN RILEY, INVESTOR RELATIONS",[],{"_key":20437,"_type":173,"children":20438,"markDefs":20442,"style":182},"12162061a365",[20439],{"_key":20440,"_type":177,"marks":20441,"text":180},"263f7d62de7f0",[],[],{"_key":20444,"_type":173,"children":20445,"markDefs":20449,"style":182},"cbe58d47ef50",[20446],{"_key":20447,"_type":177,"marks":20448,"text":1165},"fbe54b8ee7150",[179],[],{"_key":20451,"_type":173,"children":20452,"markDefs":20457,"style":182},"6ba524660290",[20453],{"_key":20454,"_type":177,"marks":20455,"text":20456},"fb006d030b890",[179],"BUCHANAN",[],{"_key":20459,"_type":173,"children":20460,"markDefs":20465,"style":182},"5b10ca17936b",[20461],{"_key":20462,"_type":177,"marks":20463,"text":20464},"c03d2a188d2e0",[],"BEN ROMNEY",[],{"_key":20467,"_type":173,"children":20468,"markDefs":20473,"style":182},"c8ec41944fea",[20469],{"_key":20470,"_type":177,"marks":20471,"text":20472},"dc97df7abd1e0",[],"CHRIS JUDD",[],{"_key":20475,"_type":173,"children":20476,"markDefs":20480,"style":182},"ebba59a0eb85",[20477],{"_key":20478,"_type":177,"marks":20479,"text":8958},"a16cd973bca60",[179],[],{"_key":20482,"_type":173,"children":20483,"markDefs":20487,"style":182},"4463b99b654f",[20484],{"_key":20485,"_type":177,"marks":20486,"text":10958},"4d2c5cae66e00",[179],[],{"_key":20489,"_type":173,"children":20490,"markDefs":20494,"style":182},"e14e241e289d",[20491],{"_key":20492,"_type":177,"marks":20493,"text":1256},"201713e3a5e00",[],[],{"_key":20496,"_type":173,"children":20497,"markDefs":20501,"style":182},"dcbf4d57a8ce",[20498],{"_key":20499,"_type":177,"marks":20500,"text":16202},"f4680471cdd80",[],[],{"_key":20503,"_type":173,"children":20504,"markDefs":20509,"style":182},"9f6c6e1b2629",[20505],{"_key":20506,"_type":177,"marks":20507,"text":20508},"fc5437f426790",[],"The Group reports in US dollars across four segments: Hunting Titan, US, Europe, Middle East and Africa (“EMEA”) and Asia Pacific.",[],{"_key":20511,"_type":173,"children":20512,"markDefs":20516,"style":182},"aaa8e5301602",[20513],{"_key":20514,"_type":177,"marks":20515,"text":1309},"376590193bf80",[],[],[20518],{"_key":20519,"_ref":1713,"_type":141},"5e733d8feb45","2021-04-21T12:34:00.000Z",{"_type":9,"current":20522},"04-21-2021",[20524,20526],{"_key":20525,"_ref":7180,"_type":141},"364d26660308",{"_key":20527,"_ref":10968,"_type":141},"2192d2975330","AGM and Q1 2021 Trading Update","\u002Fnews\u002F04-21-2021",{"_createdAt":20531,"_id":20532,"_rev":7809,"_type":168,"_updatedAt":116,"body":20533,"categories":20931,"downloads":20934,"introText":20540,"publishedAt":20939,"slug":20940,"tags":20942,"title":19559,"url":20947},"2023-02-20T13:37:48Z","7c33d725-2030-4cda-9f34-1791250bd603",[20534,20542,20550,20557,20565,20573,20581,20589,20597,20605,20613,20621,20629,20637,20645,20652,20660,20668,20676,20684,20692,20700,20708,20716,20724,20732,20740,20748,20756,20764,20772,20780,20788,20796,20804,20812,20820,20828,20836,20844,20852,20860,20868,20875,20883,20891,20899,20907,20915,20923],{"_key":20535,"_type":173,"children":20536,"markDefs":20541,"style":182},"926f4daba9e0",[20537],{"_key":20538,"_type":177,"marks":20539,"text":20540},"acbb5b420dfc0",[],"Hunting PLC (LSE:HTG), the international energy services group, today announces its results for the year ended 31 December 2020.",[],{"_key":20543,"_type":173,"children":20544,"markDefs":20549,"style":182},"d0be4b59f60d",[20545],{"_key":20546,"_type":177,"marks":20547,"text":20548},"3a357be870b20",[],"Performance in the year was adversely impacted by the reduction in activity in the global oil and gas market. The Group's strong year-end cash and bank, coupled with improving market indicators, position the Group well for the year ahead and support the final dividend proposed by the Board. Hunting's resilience through the past 12 months demonstrates its ability to respond decisively despite challenging market conditions, while also executing key strategic initiatives that will deliver future growth.",[],{"_key":20551,"_type":173,"children":20552,"markDefs":20556,"style":14843},"d0c7b48efa28",[20553],{"_key":20554,"_type":177,"marks":20555,"text":18702},"75bd366916b20",[],[],{"_key":20558,"_type":173,"children":20559,"level":955,"listItem":2555,"markDefs":20564,"style":182},"fe7606bf7845",[20560],{"_key":20561,"_type":177,"marks":20562,"text":20563},"7e9e7cfa5bdc0",[],"Revenue $626.0m (2019 - $960.0m)",[],{"_key":20566,"_type":173,"children":20567,"level":955,"listItem":2555,"markDefs":20572,"style":182},"ef8496e5ad8a",[20568],{"_key":20569,"_type":177,"marks":20570,"text":20571},"c24cdfc76a4a0",[],"EBITDA $26.1m (2019 - $139.7m)",[],{"_key":20574,"_type":173,"children":20575,"level":955,"listItem":2555,"markDefs":20580,"style":182},"15df28a3f886",[20576],{"_key":20577,"_type":177,"marks":20578,"text":20579},"51e6ec2cc4d50",[],"Underlying loss from operations of $16.4m (2019 - $94.3m profit)",[],{"_key":20582,"_type":173,"children":20583,"level":955,"listItem":2555,"markDefs":20588,"style":182},"f4737a755928",[20584],{"_key":20585,"_type":177,"marks":20586,"text":20587},"44d3f7b4fd110",[],"Amortisation of acquired intangible assets and exceptional items totalling $203.6m charged in the year (2019 - $47.5m)",[],{"_key":20590,"_type":173,"children":20591,"level":955,"listItem":2555,"markDefs":20596,"style":182},"4910fd0d2ba6",[20592],{"_key":20593,"_type":177,"marks":20594,"text":20595},"73e0e5bc22f30",[],"Reported loss from operations of $220.0m (2019 - $46.8m profit)",[],{"_key":20598,"_type":173,"children":20599,"level":955,"listItem":2555,"markDefs":20604,"style":182},"b19eb4b732b9",[20600],{"_key":20601,"_type":177,"marks":20602,"text":20603},"283a7db2f93c0",[],"Underlying diluted loss per share 10.0 cents (2019 - 43.9 cents earnings per share)",[],{"_key":20606,"_type":173,"children":20607,"level":955,"listItem":2555,"markDefs":20612,"style":182},"ebe744792dda",[20608],{"_key":20609,"_type":177,"marks":20610,"text":20611},"fe9b525159d40",[],"Reported diluted loss per share 143.2 cents (2019 - 23.5 cents earnings per share)",[],{"_key":20614,"_type":173,"children":20615,"level":955,"listItem":2555,"markDefs":20620,"style":182},"327219b6c2f3",[20616],{"_key":20617,"_type":177,"marks":20618,"text":20619},"fd6792afe50c0",[],"Net assets of $976.6m (31 December 2019 - $1,223.8m)",[],{"_key":20622,"_type":173,"children":20623,"level":955,"listItem":2555,"markDefs":20628,"style":182},"baa744d35962",[20624],{"_key":20625,"_type":177,"marks":20626,"text":20627},"c6ec5fd6135a0",[],"Total cash and bank of $101.7m (31 December 2019 - $127.0m)",[],{"_key":20630,"_type":173,"children":20631,"level":955,"listItem":2555,"markDefs":20636,"style":182},"f3b19e8c74fe",[20632],{"_key":20633,"_type":177,"marks":20634,"text":20635},"2b0ab24c6aab0",[],"Final dividend of 4.0 cents per share proposed (2019 - nil) and payable on 14 May 2021 to shareholders on the register on 23 April 2021, subject to approval at the Company's AGM",[],{"_key":20638,"_type":173,"children":20639,"markDefs":20644,"style":182},"31e08ec20174",[20640],{"_key":20641,"_type":177,"marks":20642,"text":20643},"33ee2d2531ee0",[216],"*Underlying results are based on reported results before amortisation of intangible assets recognised as part of a business combination and exceptional items. Reported results are based on the statutory results as reported under International Financial Reporting Standards as adopted by the EU.",[],{"_key":20646,"_type":173,"children":20647,"markDefs":20651,"style":14843},"220354e29125",[20648],{"_key":20649,"_type":177,"marks":20650,"text":17313},"885f327e447d0",[],[],{"_key":20653,"_type":173,"children":20654,"markDefs":20659,"style":182},"9219684e66a0",[20655],{"_key":20656,"_type":177,"marks":20657,"text":20658},"f9d04ca06aa70",[179],"$32.8m acquisition of Enpro Subsea Limited (\"Enpro\") completed in February 2020.",[],{"_key":20661,"_type":173,"children":20662,"level":955,"listItem":2555,"markDefs":20667,"style":182},"7a28e9069f3e",[20663],{"_key":20664,"_type":177,"marks":20665,"text":20666},"e6a44129f76c0",[],"Enpro is a leader in subsea production technology, offering low cost, flexible field development solutions including well production and intervention modules to enhance recovery from oil and gas wells. Enpro is now integrated into the Subsea business division.",[],{"_key":20669,"_type":173,"children":20670,"level":955,"listItem":2555,"markDefs":20675,"style":182},"5e1d1cd7f665",[20671],{"_key":20672,"_type":177,"marks":20673,"text":20674},"299e7e37e0f60",[],"Revenue from Subsea products increased 57% to $69.8m (2019 - $44.5m), largely as a result of our Enpro and RTI acquisitions.",[],{"_key":20677,"_type":173,"children":20678,"markDefs":20683,"style":182},"9c3b2da1c9ed",[20679],{"_key":20680,"_type":177,"marks":20681,"text":20682},"239a3703955f0",[179],"Divestment of US Drilling Tools business completed in December 2020.",[],{"_key":20685,"_type":173,"children":20686,"level":955,"listItem":2555,"markDefs":20691,"style":182},"4297b1fde054",[20687],{"_key":20688,"_type":177,"marks":20689,"text":20690},"bf4d8b8840ad0",[],"Hunting transferred key operating assets to Rival Downhole Tools LC, in exchange for a 23.5% equity position within the expanded Rival business.",[],{"_key":20693,"_type":173,"children":20694,"markDefs":20699,"style":182},"b7a680edffd8",[20695],{"_key":20696,"_type":177,"marks":20697,"text":20698},"dab4caafc5400",[179],"New business model in Canada implemented in August 2020.",[],{"_key":20701,"_type":173,"children":20702,"level":955,"listItem":2555,"markDefs":20707,"style":182},"61551ac13621",[20703],{"_key":20704,"_type":177,"marks":20705,"text":20706},"394d95daa3e50",[],"Hunting has closed its manufacturing operation in Calgary, Alberta, and opened a sales office to pursue new business opportunities. Future customer OCTG requirements are to be completed by in-country licensees.",[],{"_key":20709,"_type":173,"children":20710,"level":955,"listItem":2555,"markDefs":20715,"style":182},"8271c48001e7",[20711],{"_key":20712,"_type":177,"marks":20713,"text":20714},"d9ddfdab03640",[],"A field service centre has been retained in Nisku, with Hunting Titan continuing to operate its network of distribution centres across Western Canada.",[],{"_key":20717,"_type":173,"children":20718,"markDefs":20723,"style":182},"4024c8fd9ae6",[20719],{"_key":20720,"_type":177,"marks":20721,"text":20722},"4471ea53047c0",[179],"Investment in Well Data Labs, a well analytics company, completed in February 2021.",[],{"_key":20725,"_type":173,"children":20726,"level":955,"listItem":2555,"markDefs":20731,"style":182},"76328bcc732d",[20727],{"_key":20728,"_type":177,"marks":20729,"text":20730},"3bdab1cb64530",[],"Hunting has provided $2.5m in convertible capital financing to support Well Data's growth ambitions.",[],{"_key":20733,"_type":173,"children":20734,"level":955,"listItem":2555,"markDefs":20739,"style":182},"51004f00b197",[20735],{"_key":20736,"_type":177,"marks":20737,"text":20738},"d3e20058b5500",[],"Key investment in the high growth data analytics sub-sector of the drilling market.",[],{"_key":20741,"_type":173,"children":20742,"markDefs":20747,"style":182},"1729ccfe1687",[20743],{"_key":20744,"_type":177,"marks":20745,"text":20746},"6a911f19d6100",[179],"New products launched in the year to broaden customer offering.",[],{"_key":20749,"_type":173,"children":20750,"level":955,"listItem":2555,"markDefs":20755,"style":182},"eb9899add996",[20751],{"_key":20752,"_type":177,"marks":20753,"text":20754},"5ce6a5652c260",[],"Completion of detonating cord manufacturing line at Milford, Texas, to increase Hunting Titan's product offering. 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This positive sentiment, if sustained, bodes well for the global energy industry for the coming months as operators seek stability across the sector to enable them to confirm new drilling programmes and capital investment. Supporting this sentiment is the availability of COVID-19 vaccines and the rollout of immunisation programmes across the World.",[],{"_key":20884,"_type":173,"children":20885,"markDefs":20890,"style":13454},"a0e0104aa767",[20886],{"_key":20887,"_type":177,"marks":20888,"text":20889},"6f0cec7b19400",[216],"\"Within the US market, our Hunting Titan segment has seen a steadily improving revenue profile in recent months as onshore activity levels have increased. The business has reopened a distribution centre to meet this demand and has made selective additions to headcount. Hunting Titan's technology offering continues to be industry-leading, which will support new sales opportunities both in the US and internationally as onshore drilling programmes recommence.",[],{"_key":20892,"_type":173,"children":20893,"markDefs":20898,"style":13454},"d4d5bc43e70b",[20894],{"_key":20895,"_type":177,"marks":20896,"text":20897},"bad88e5e7c4a0",[216],"\"The Group's US operating segment, which provides equipment to both onshore and offshore projects, anticipates accelerating activity in H2 2021, following the slowing of offshore projects in the second half of 2020.",[],{"_key":20900,"_type":173,"children":20901,"markDefs":20906,"style":13454},"f40b10667a97",[20902],{"_key":20903,"_type":177,"marks":20904,"text":20905},"db97343d6cff0",[216],"\"In Canada, our new business model is seeing good customer acceptance as we work with our new licence partners. Hunting's European operations report optimism for the year ahead as deferred drilling programmes recommence. In the UK, a number of clients have already indicated that drilling will take place in 2021, while in the Netherlands international orders received since the start of the year will ensure our OCTG facility will remain busy for the short-term.",[],{"_key":20908,"_type":173,"children":20909,"markDefs":20914,"style":13454},"60fb665b5b03",[20910],{"_key":20911,"_type":177,"marks":20912,"text":20913},"2aaee82738b50",[216],"\"In the Middle East and Asia Pacific, new opportunities are emerging following the increase in the oil price and the beginning of vaccination programmes, with growth now projected from the middle of the year.",[],{"_key":20916,"_type":173,"children":20917,"markDefs":20922,"style":13454},"e70eda7949cb",[20918],{"_key":20919,"_type":177,"marks":20920,"text":20921},"640c8dfdcec70",[216],"\"The Group has made strong inroads into new sectors in the year. Our presence in the medical devices, aviation and space sectors has increased and our various operating segments have all progressed initiatives that utilise our core competencies, as well as diversify our revenue streams.",[],{"_key":20924,"_type":173,"children":20925,"markDefs":20930,"style":13454},"e56a3eb75639",[20926],{"_key":20927,"_type":177,"marks":20928,"text":20929},"ba6b5f9f6a880",[216],"\"The Board of Hunting believes that the Group has been decisive in its actions during 2020 to manage the market downturn. The Group enters 2021 a leaner organisation, with its global capabilities intact and poised to capitalise on any new opportunities presented.\"",[],[20932],{"_key":20933,"_ref":1713,"_type":141},"9ba87be61f48",[20935],{"_key":20936,"_type":10023,"asset":20937,"title":15497},"32c2c0f4500c",{"_ref":20938,"_type":141},"file-4cd3c67d06afcb86ef21e3a6f1579f46a6afebce-pdf","2021-03-04T13:36:00.000Z",{"_type":9,"current":20941},"04-03-2021",[20943,20945],{"_key":20944,"_ref":7180,"_type":141},"da046fd20c30",{"_key":20946,"_ref":15507,"_type":141},"fc39f15c6598","\u002Fnews\u002F04-03-2021",{"_createdAt":20949,"_id":20950,"_rev":7809,"_type":168,"_updatedAt":116,"body":20951,"categories":21144,"introText":21147,"publishedAt":21148,"slug":21149,"tags":21151,"title":21154,"url":21155},"2023-02-20T13:39:11Z","1aaf1066-dcdb-4676-82bf-33169d3ebd77",[20952,20960,20968,20976,20984,20992,21000,21007,21015,21023,21031,21038,21045,21052,21059,21066,21073,21080,21087,21094,21101,21108,21115,21122,21129,21137],{"_key":20953,"_type":173,"children":20954,"markDefs":20959,"style":182},"ee056bfd56b4",[20955],{"_key":20956,"_type":177,"marks":20957,"text":20958},"4e3b5463b8ec0",[179,216],"Hunting and Well Data Labs form strategic alliance to advance well data analytics for completions with Hunting providing $2.5 million capital infusion via convertible financing",[],{"_key":20961,"_type":173,"children":20962,"markDefs":20967,"style":182},"787c33216731",[20963],{"_key":20964,"_type":177,"marks":20965,"text":20966},"c65082d40fd60",[],"Hunting PLC (LSE : HTG), the international energy services group, today announces that it has agreed to provide Well Data Labs (\"WDL\") with $2.5 million in convertible capital financing, to support WDL significant growth ambitions in the onshore technical well data analytics market. This financing will provide working capital to WDL to support its current activities.",[],{"_key":20969,"_type":173,"children":20970,"markDefs":20975,"style":182},"c8f57e33429d",[20971],{"_key":20972,"_type":177,"marks":20973,"text":20974},"5dd28023ae560",[],"Founded in 2014, WDL has quickly emerged as an innovator in downhole data analytics and machine learning. In the US, approximately 50% of the wells fracked use WDL proprietary cloud-based software. The business offers data-driven well reporting and optimisation solutions enabling operators to increase efficiencies by simplifying multiple, complex data sources into actionable, easy to understand, real-time insights.",[],{"_key":20977,"_type":173,"children":20978,"markDefs":20983,"style":182},"f478dbb1cec6",[20979],{"_key":20980,"_type":177,"marks":20981,"text":20982},"d3e73e9dee640",[],"Today, WDL has over 30 blue chip customers in the oil and gas industry providing data services for over 500,000 frac stages. With much of the research and development foundation already in place, Hunting is investing at a key point in WDL growth cycle.",[],{"_key":20985,"_type":173,"children":20986,"markDefs":20991,"style":182},"30ee3b69cc68",[20987],{"_key":20988,"_type":177,"marks":20989,"text":20990},"f55d5e22622f0",[],"Under the alliance agreement, Hunting and WDL will seek to maximise the integration of the Hunting Titan perforating product line into WDL application set providing operators with the information needed to react and adjust the frac based on data obtained from previous stages. This is a step change in data availability eliminating the wait time associated with extracting the data after a completed job.",[],{"_key":20993,"_type":173,"children":20994,"markDefs":20999,"style":182},"06317cb5ba1e",[20995],{"_key":20996,"_type":177,"marks":20997,"text":20998},"e89bbd290c070",[],"In turn, WDL will benefit from Hunting's distribution network and long standing position as a premium provider of perforating components with industry leading technology.",[],{"_key":21001,"_type":173,"children":21002,"markDefs":21006,"style":182},"90095c688c70",[21003],{"_key":21004,"_type":177,"marks":21005,"text":3646},"05373bd8d2b40",[],[],{"_key":21008,"_type":173,"children":21009,"markDefs":21014,"style":13454},"8eb6afb00116",[21010],{"_key":21011,"_type":177,"marks":21012,"text":21013},"3f5ac84734d10",[],"\"The provision of this financing to Well Data Labs allows Hunting to access the key data analytics segment of the completions market. This is a critical area for many operators as the industry drives for higher efficiency drilling operations and faster well evaluation. This investment is an exciting opportunity for Hunting given the synergies with our onshore related products and services portfolio.\"",[],{"_key":21016,"_type":173,"children":21017,"markDefs":21022,"style":182},"5f9346ac4ca9",[21018],{"_key":21019,"_type":177,"marks":21020,"text":21021},"b72b7fc372150",[],"Josh Churlik, Chief Executive of Well Data Labs, commented:",[],{"_key":21024,"_type":173,"children":21025,"markDefs":21030,"style":13454},"e9196e37c396",[21026],{"_key":21027,"_type":177,"marks":21028,"text":21029},"decf814d30260",[],"\"The alliance with Hunting demonstrates the value our data analytics platform delivers to the industry. This exciting partnership provides an opportunity for E&P operators to move their digital strategies forward with AI-enabling technologies helping them optimise operations and move closer to real-time decision-making.\"",[],{"_key":21032,"_type":173,"children":21033,"markDefs":21037,"style":182},"595790a076fd",[21034],{"_key":21035,"_type":177,"marks":21036,"text":1126},"ee28c83d909a0",[],[],{"_key":21039,"_type":173,"children":21040,"markDefs":21044,"style":182},"bbf02f885170",[21041],{"_key":21042,"_type":177,"marks":21043,"text":20410},"b13768cc15a50",[],[],{"_key":21046,"_type":173,"children":21047,"markDefs":21051,"style":182},"f7cea5ca06f8",[21048],{"_key":21049,"_type":177,"marks":21050,"text":20418},"d01b974bb4970",[],[],{"_key":21053,"_type":173,"children":21054,"markDefs":21058,"style":182},"186770916246",[21055],{"_key":21056,"_type":177,"marks":21057,"text":20426},"3ae9e649c24b0",[],[],{"_key":21060,"_type":173,"children":21061,"markDefs":21065,"style":182},"2e509641f9de",[21062],{"_key":21063,"_type":177,"marks":21064,"text":20434},"58249cb1f99b0",[],[],{"_key":21067,"_type":173,"children":21068,"markDefs":21072,"style":182},"dd385c4029bd",[21069],{"_key":21070,"_type":177,"marks":21071,"text":180},"f2646092e1e00",[],[],{"_key":21074,"_type":173,"children":21075,"markDefs":21079,"style":182},"abd220768da7",[21076],{"_key":21077,"_type":177,"marks":21078,"text":1165},"c5de423609eb0",[],[],{"_key":21081,"_type":173,"children":21082,"markDefs":21086,"style":182},"54c1e8615edd",[21083],{"_key":21084,"_type":177,"marks":21085,"text":20456},"f92c654a37580",[],[],{"_key":21088,"_type":173,"children":21089,"markDefs":21093,"style":182},"26ced476f8e4",[21090],{"_key":21091,"_type":177,"marks":21092,"text":20464},"8c8f7d298ea30",[],[],{"_key":21095,"_type":173,"children":21096,"markDefs":21100,"style":182},"84a56d76a037",[21097],{"_key":21098,"_type":177,"marks":21099,"text":20472},"c1b0e416b89c0",[],[],{"_key":21102,"_type":173,"children":21103,"markDefs":21107,"style":182},"f471bcd7a005",[21104],{"_key":21105,"_type":177,"marks":21106,"text":8958},"236ee67ed4150",[],[],{"_key":21109,"_type":173,"children":21110,"markDefs":21114,"style":182},"4d7cbb426868",[21111],{"_key":21112,"_type":177,"marks":21113,"text":10958},"e9a652c0aa4b0",[],[],{"_key":21116,"_type":173,"children":21117,"markDefs":21121,"style":182},"4001cc54d12b",[21118],{"_key":21119,"_type":177,"marks":21120,"text":1256},"7d8c55bd8ddf0",[],[],{"_key":21123,"_type":173,"children":21124,"markDefs":21128,"style":182},"0d4491480aa4",[21125],{"_key":21126,"_type":177,"marks":21127,"text":16202},"23a911bff1440",[],[],{"_key":21130,"_type":173,"children":21131,"markDefs":21136,"style":182},"bff0855726b5",[21132],{"_key":21133,"_type":177,"marks":21134,"text":21135},"150b4b386edc0",[],"The Group reports in US dollars across five segments: Hunting Titan, US, Canada Europe Middle East and Africa (\"EMEA\") and Asia Pacific. From 1 January 2021, the Group's Canada business has been incorporated into the US operating segment.",[],{"_key":21138,"_type":173,"children":21139,"markDefs":21143,"style":182},"05a93893afed",[21140],{"_key":21141,"_type":177,"marks":21142,"text":16083},"04228a6c5c9a0",[],[],[21145],{"_key":21146,"_ref":1713,"_type":141},"563e0d22da1a","\tHunting PLC (LSE : HTG), the international energy services group, today announces that it has agreed to provide Well Data Labs (\"WDL\") with $2.5 million in convertible capital financing, to support WDL significant growth ambitions in the onshore technical well data analytics market. This financing will provide working capital to WDL to support its current activities.","2021-02-04T13:39:00.000Z",{"_type":9,"current":21150},"strategic-investment",[21152],{"_key":21153,"_ref":7180,"_type":141},"7c99c47b6fda","Strategic Investment","\u002Fnews\u002Fstrategic-investment",{"_createdAt":21157,"_id":21158,"_rev":7809,"_type":168,"_updatedAt":116,"body":21159,"categories":21366,"introText":21369,"publishedAt":21370,"slug":21371,"tags":21373,"title":21376,"url":21377},"2023-02-20T13:41:11Z","1bc74003-23a8-485b-911e-c7d5a0cd1a21",[21160,21168,21176,21187,21195,21211,21219,21227,21235,21243,21251,21258,21269,21276,21287,21294,21313,21320,21327,21335,21343,21350,21358],{"_key":21161,"_type":173,"children":21162,"markDefs":21167,"style":182},"15b91bf50a76",[21163],{"_key":21164,"_type":177,"marks":21165,"text":21166},"58f8d221ac5e0",[],"Houston: Hunting PLC (LSE:HTG) (\"Hunting\"), the international energy services group and Rival Downhole\nTools LC (\"Rival\"), a leader in downhole drilling technologies, today announced that Rival has acquired the operating assets of Hunting Energy Services (Drilling Tools), Inc. (\"HESDT\"), a wholly owned subsidiary of Hunting, in exchange for Hunting securing a minority equity interest in Rival.",[],{"_key":21169,"_type":173,"children":21170,"markDefs":21175,"style":182},"8de633d25ae7",[21171],{"_key":21172,"_type":177,"marks":21173,"text":21174},"851dcdf5cdfc0",[],"The complementary technologies, manufacturing, geographical footprints and engineering capabilities of the combined organizations - with 37 years' experience in downhole technologies - will further establish Rival's market position as one of the top downhole tool providers to the onshore U.S. market. In addition, the deal will provide the catalyst for future international expansion in the Middle East and, in particular, Saudi Arabia.",[],{"_key":21177,"_type":173,"children":21178,"markDefs":21186,"style":182},"3f6a9a7fc47d",[21179,21183],{"_key":21180,"_type":177,"marks":21181,"text":21182},"96e3b6d676890",[179],"Neil Fletcher, Chief Executive Officer of Rival",{"_key":21184,"_type":177,"marks":21185,"text":1835},"96e3b6d676891",[],[],{"_key":21188,"_type":173,"children":21189,"markDefs":21194,"style":13454},"9df1fca36ddb",[21190],{"_key":21191,"_type":177,"marks":21192,"text":21193},"cc3d32fc444d0",[],"\"This transaction marks a milestone in our mission to build a market leadership position and provide a complete offering in downhole tools, in our view increasing the value of our company by over $25 million. The addition of Hunting's drilling tool business will enable us to not only serve the U.S. but also accelerate market reach and product development, leaving us ideally placed for a series of international launches in 2021 starting with the Middle East. We are securing significant annual cost synergies, coupling top tier engineering with manufacturing capabilities, and expanding our product offerings to be well positioned in the U.S. and to launch overseas. This is a big moment for Rival.\"",[],{"_key":21196,"_type":173,"children":21197,"markDefs":21210,"style":13454},"f57b54b16c27",[21198,21202,21206],{"_key":21199,"_type":177,"marks":21200,"text":21201},"1222a29228a90",[],"Commenting on the transaction, ",{"_key":21203,"_type":177,"marks":21204,"text":21205},"1222a29228a91",[179],"Jim Johnson, Chief Executive of Hunting,",{"_key":21207,"_type":177,"marks":21208,"text":21209},"1222a29228a92",[]," said:",[],{"_key":21212,"_type":173,"children":21213,"markDefs":21218,"style":13454},"29a72c3efdd1",[21214],{"_key":21215,"_type":177,"marks":21216,"text":21217},"d22b87cd11030",[],"\"The combination of Hunting's Drilling Tools assets with Rival creates a business with a larger operating footprint, with leading technology and products. The synergies identified will enable a compelling platform to operate within the competitive U.S. onshore market, while extending the customer partnerships of the combined business. The transaction also provides ongoing exposure to the drilling tools market, while allowing Hunting to refocus our capital allocation to other business opportunities.\"",[],{"_key":21220,"_type":173,"children":21221,"markDefs":21226,"style":182},"60dc9af59eaa",[21222],{"_key":21223,"_type":177,"marks":21224,"text":21225},"7b7de78c22800",[],"HESDT manufactures, owns and leases downhole tools for oil and gas operations, with facilities in Conroe and Odessa, Texas, Casper, Wyoming, and Latrobe, Pennsylvania. Rival provides downhole drilling technologies from its Midland, Texas, and Houston locations, with third-party engineering services and a company headquarters based in Houston. In addition to the Middle East, other target markets for Rival's international expansion - with unconventional assets perfectly suited to Rival's technologies - include Argentina and China.",[],{"_key":21228,"_type":173,"children":21229,"markDefs":21234,"style":182},"3b49e326c4b0",[21230],{"_key":21231,"_type":177,"marks":21232,"text":21233},"a7cfd76d975c0",[],"Rival's leadership team will remain in their existing roles and HESDT's General Manager will join the expanded business. Rival looks forward to welcoming the majority of HESDT's employees. Rival's Board of Managers will be expanded with Hunting appointing a Board Manager to oversee its rights and obligations as a minority equity holder.",[],{"_key":21236,"_type":173,"children":21237,"markDefs":21242,"style":14843},"a036721349d0",[21238],{"_key":21239,"_type":177,"marks":21240,"text":21241},"9e0c9a50d6d30",[],"About the transaction:",[],{"_key":21244,"_type":173,"children":21245,"markDefs":21250,"style":182},"63c059bfea59",[21246],{"_key":21247,"_type":177,"marks":21248,"text":21249},"66549b9f4cfd0",[],"The business and operating assets have been contributed by HESDT to Rival in exchange for a 23.5% equity interest. This agreed interest is based on (i) Hunting's current customer base and long term business relationships which extend over a decade; (ii) HESDT's operating presence in North America, specifically within the onshore basins in Pennsylvania, Texas and Wyoming; and (iii) technology leadership including its rental mud motor fleet which totals 362 units. In the year ended 31 December 2019, HESDT reported revenue of $22 million, an underlying operating loss of $1 million and, after impairment charges, an IFRS reported operating loss of $20 million. HESDT and Rival have given mutual representations, warranties and indemnities to each other which are customary for a transaction of this size and nature. Rival has agreed to assume all post-closing liabilities associated with the assets that have been contributed to it, and HESDT has agreed to retain all pre-closing liabilities associated with such assets. Rival has agreed to lease from HESDT, at market rates, the facility at Casper, Wyoming for a minimum of six months (with optional annual renewals) and the facility at Latrobe, Pennsylvania for a minimum of three years (with optional annual renewals). The parties have also agreed to certain customary minority rights and obligations in connection with HESDT's equity interest in Rival, including but not limited to tag-along rights, co-sale rights, pre-emptive rights, drag obligations, transfer restrictions, and limited approval rights. In addition, HESDT has a right to appoint a manager to serve on the board of managers of Rival, subject to HESDT maintaining more than 10% of the voting units of Rival. As at 31 October 2020, the carrying value of the transferred gross assets, which predominantly incorporate the value of HESDT's mud motors, were valued at $18.6 million.",[],{"_key":21252,"_type":173,"children":21253,"markDefs":21257,"style":182},"03f8f63be681",[21254],{"_key":21255,"_type":177,"marks":21256,"text":5318},"2a0c35d3d6670",[],[],{"_key":21259,"_type":173,"children":21260,"markDefs":21268,"style":182},"7df685a0fcd2",[21261,21264],{"_key":21262,"_type":177,"marks":21263,"text":20410},"e1d32fddcdf90",[179],{"_key":21265,"_type":177,"marks":21266,"text":21267},"e1d32fddcdf91",[],"\nJIM JOHNSON, CHIEF EXECUTIVE\nBRUCE FERGUSON, FINANCE DIRECTOR\nTARRYN RILEY, INVESTOR RELATIONS",[],{"_key":21270,"_type":173,"children":21271,"markDefs":21275,"style":182},"43a7660fd4c6",[21272],{"_key":21273,"_type":177,"marks":21274,"text":1165},"4452103e66e20",[179],[],{"_key":21277,"_type":173,"children":21278,"markDefs":21286,"style":182},"523c6a17fec8",[21279,21282],{"_key":21280,"_type":177,"marks":21281,"text":20456},"8de00b94661b0",[179],{"_key":21283,"_type":177,"marks":21284,"text":21285},"8de00b94661b1",[],"\nBEN ROMNEY\nCHRIS JUDD",[],{"_key":21288,"_type":173,"children":21289,"markDefs":21293,"style":182},"f47f37b5144b",[21290],{"_key":21291,"_type":177,"marks":21292,"text":8958},"d30db36dc9040",[179],[],{"_key":21295,"_type":173,"children":21296,"markDefs":21312,"style":182},"aef73c1a5973",[21297,21301,21304,21308],{"_key":21298,"_type":177,"marks":21299,"text":21300},"e2538f8f75080",[179],"Rival Downhole Tools",{"_key":21302,"_type":177,"marks":21303,"text":15101},"e2538f8f75081",[],{"_key":21305,"_type":177,"marks":21306,"text":21307},"e2538f8f75082",[179],"Tel: +1 713 983-8377",{"_key":21309,"_type":177,"marks":21310,"text":21311},"e2538f8f75083",[],"\nBryan Granier, CFO",[],{"_key":21314,"_type":173,"children":21315,"markDefs":21319,"style":14843},"f2b79dd9ed2e",[21316],{"_key":21317,"_type":177,"marks":21318,"text":10958},"8dc74c1192390",[],[],{"_key":21321,"_type":173,"children":21322,"markDefs":21326,"style":182},"15ff1d6c19a0",[21323],{"_key":21324,"_type":177,"marks":21325,"text":1256},"73db75bedce20",[179],[],{"_key":21328,"_type":173,"children":21329,"markDefs":21334,"style":182},"d059265e0a49",[21330],{"_key":21331,"_type":177,"marks":21332,"text":21333},"9cff2daf17870",[],"Hunting PLC is an international energy services provider to the world's leading upstream oil and gas companies. Established in 1874, it is a premium listed public company traded on the London Stock Exchange. The company maintains a corporate office in Houston and is headquartered in London. In addition to the United Kingdom, the company has operations in Canada, China, Indonesia, Mexico, Netherlands, Norway, Saudi Arabia, Singapore, United Arab Emirates and the United States of America.",[],{"_key":21336,"_type":173,"children":21337,"markDefs":21342,"style":182},"56b6f095e7b8",[21338],{"_key":21339,"_type":177,"marks":21340,"text":21341},"3b03f5d4c3830",[],"The Group reports in US dollars across five operating segments: Hunting Titan; US; Canada; Europe, Middle East and Africa (\"EMEA\") and Asia Pacific.",[],{"_key":21344,"_type":173,"children":21345,"markDefs":21349,"style":182},"f1b5435b0c57",[21346],{"_key":21347,"_type":177,"marks":21348,"text":16083},"514b2cbf897e0",[],[],{"_key":21351,"_type":173,"children":21352,"markDefs":21357,"style":182},"10cb2fb35a0d",[21353],{"_key":21354,"_type":177,"marks":21355,"text":21356},"90d80fc0e2310",[179],"About Rival Downhole Tools LC",[],{"_key":21359,"_type":173,"children":21360,"markDefs":21365,"style":182},"fe817bffef6b",[21361],{"_key":21362,"_type":177,"marks":21363,"text":21364},"76448c58a43c0",[],"Rival, an EV Private Equity portfolio company, was originally founded as Ashmin in 2002. The company provides engineering services and several patented downhole drilling technologies to the oil and gas market. Headquartered in Houston, Rival has built a market leadership position in the downhole drilling motor and tools market.",[],[21367],{"_key":21368,"_ref":1713,"_type":141},"b46e502788f0","Rival Acquires Hunting Subsidiary Assets To Increase US Footprint and Support International Expansion","2020-12-15T13:39:00.000Z",{"_type":9,"current":21372},"15-12-2020",[21374],{"_key":21375,"_ref":7180,"_type":141},"0c30d212e2c5","Asset divestment and equity investment","\u002Fnews\u002F15-12-2020",{"_createdAt":21379,"_id":21380,"_rev":12607,"_type":168,"_updatedAt":116,"body":21381,"categories":21901,"downloads":21904,"introText":21909,"publishedAt":21910,"slug":21911,"tags":21913,"title":20065,"url":21918},"2023-02-20T13:45:22Z","252fc966-5990-4062-a141-0bae43565255",[21382,21390,21398,21406,21414,21422,21430,21438,21446,21454,21462,21470,21478,21493,21500,21508,21516,21524,21532,21540,21548,21556,21564,21572,21580,21588,21596,21604,21612,21620,21628,21636,21644,21652,21660,21668,21676,21683,21691,21699,21707,21715,21723,21730,21738,21748,21755,21763,21773,21792,21799,21807,21814,21824,21832,21839,21852,21865,21872,21879,21886,21894],{"_key":21383,"_type":173,"children":21384,"markDefs":21389,"style":182},"e4ce1aa0050c",[21385],{"_key":21386,"_type":177,"marks":21387,"text":21388},"ff2442019aec0",[],"Hunting PLC (LSE:HTG), the international energy services group, today announces its\nresults for the six months to 30 June 2020.",[],{"_key":21391,"_type":173,"children":21392,"markDefs":21397,"style":14843},"3a78c4ccea5e",[21393],{"_key":21394,"_type":177,"marks":21395,"text":21396},"a52a6cf4ba8c0",[],"Financial Summary* \u002F **",[],{"_key":21399,"_type":173,"children":21400,"level":955,"listItem":2555,"markDefs":21405,"style":182},"cb288efb982c",[21401],{"_key":21402,"_type":177,"marks":21403,"text":21404},"bd36edeaeefa0",[],"Revenue $377.7m (H1 2019 – $508.9m)",[],{"_key":21407,"_type":173,"children":21408,"level":955,"listItem":2555,"markDefs":21413,"style":182},"1b5ec425f9ae",[21409],{"_key":21410,"_type":177,"marks":21411,"text":21412},"5eb3ef73a1bc0",[],"Underlying EBITDA $28.4m (H1 2019 – $77.4m) **",[],{"_key":21415,"_type":173,"children":21416,"level":955,"listItem":2555,"markDefs":21421,"style":182},"ac2ad39e6e4d",[21417],{"_key":21418,"_type":177,"marks":21419,"text":21420},"cbd89f4ab6d50",[],"Underlying profit from operations $5.7m (H1 2019 – $55.6m profit)",[],{"_key":21423,"_type":173,"children":21424,"level":955,"listItem":2555,"markDefs":21429,"style":182},"d1eccf47d081",[21425],{"_key":21426,"_type":177,"marks":21427,"text":21428},"357916d69f3a0",[],"Exceptional impairments to assets charged totalling $174.9m (H1 2019 – $nil)",[],{"_key":21431,"_type":173,"children":21432,"level":955,"listItem":2555,"markDefs":21437,"style":182},"40c24d6436db",[21433],{"_key":21434,"_type":177,"marks":21435,"text":21436},"47a88305da1b0",[],"Reported loss from operations of $183.6m (H1 2019 – $41.1m profit)",[],{"_key":21439,"_type":173,"children":21440,"level":955,"listItem":2555,"markDefs":21445,"style":182},"632aeb62bfef",[21441],{"_key":21442,"_type":177,"marks":21443,"text":21444},"7744d5c8e3380",[],"Underlying diluted earnings per share 1.0 cent (H1 2019 – 23.6 cents)",[],{"_key":21447,"_type":173,"children":21448,"level":955,"listItem":2555,"markDefs":21453,"style":182},"90d5425e99da",[21449],{"_key":21450,"_type":177,"marks":21451,"text":21452},"febaf4f29a570",[],"Reported diluted (loss) earnings per share (125.7) cents (H1 2019 – 17.3 cents)",[],{"_key":21455,"_type":173,"children":21456,"level":955,"listItem":2555,"markDefs":21461,"style":182},"0cd44e5cf366",[21457],{"_key":21458,"_type":177,"marks":21459,"text":21460},"0da58ea05df80",[],"Second interim dividend declared for H1 2020 of 2.0 cents (H1 2019 – 5.0 cents)",[],{"_key":21463,"_type":173,"children":21464,"level":955,"listItem":2555,"markDefs":21469,"style":182},"672eca96e3ba",[21465],{"_key":21466,"_type":177,"marks":21467,"text":21468},"2dae67927a2a0",[],"Total cash and bank of $48.8m (31 December 2019 – $127.0m)",[],{"_key":21471,"_type":173,"children":21472,"level":955,"listItem":2555,"markDefs":21477,"style":182},"7c5417fd2ef4",[21473],{"_key":21474,"_type":177,"marks":21475,"text":21476},"6d3a660ea8cb0",[],"$160m revolving credit facility remains undrawn at 30 June 2020",[],{"_key":21479,"_type":173,"children":21480,"markDefs":21492,"style":182},"ed2b61f8cd0e",[21481,21485,21488],{"_key":21482,"_type":177,"marks":21483,"text":21484},"96c260fc0bc30",[216],"*Underlying results are non-GAAP measures and are before amortisation of acquired intangible assets and exceptional items. Reported results are based on the statutory results as reported under International Financial Reporting Standards.",{"_key":21486,"_type":177,"marks":21487,"text":1430},"96c260fc0bc31",[],{"_key":21489,"_type":177,"marks":21490,"text":21491},"96c260fc0bc32",[216],"**EBITDA is a non-GAAP measure. Please refer to pages 32 and 33 of the Half Year 2020 report for further information.",[],{"_key":21494,"_type":173,"children":21495,"markDefs":21499,"style":182},"537ac3a7a22c",[21496],{"_key":21497,"_type":177,"marks":21498,"text":18828},"11915ff65eda0",[179],[],{"_key":21501,"_type":173,"children":21502,"markDefs":21507,"style":13454},"7d87df9aa01b",[21503],{"_key":21504,"_type":177,"marks":21505,"text":21506},"7d6519ac5c7d0",[216],"“Hunting has responded well to the challenging market conditions seen in H1 2020 and, not only reports a positive underlying EBITDA, but has continued to trade at or near to break-even at the EBITDA level since March 2020. Further, with a strong balance sheet and cash position, along with an undrawn borrowing facility, the Group will be able to respond rapidly to any improvements in activity and any market opportunities, as and when they arise going forward. Our ability to quickly resize the Group clearly demonstrates our flexibility and resilience against market volatility and the dividend declared today reflects the Board’s and management’s confidence in our chosen markets and business lines.",[],{"_key":21509,"_type":173,"children":21510,"markDefs":21515,"style":13454},"d131cadf5c77",[21511],{"_key":21512,"_type":177,"marks":21513,"text":21514},"bb7b402f1dcd0",[216],"Further, the strategic actions completed, which includes our offshore-focused acquisitions completed in the last year comprising Enpro Subsea and RTI Energy Systems, have assisted in rebalancing our product offering to areas of the market that are less sensitive to movements in commodity prices. In the period, RTI has won a number of major offshore orders, while Enpro has made good order book progress, and our existing subsea business reports good period-on-period organic sales growth.",[],{"_key":21517,"_type":173,"children":21518,"markDefs":21523,"style":13454},"34452e6a092b",[21519],{"_key":21520,"_type":177,"marks":21521,"text":21522},"148f3cdcd59c0",[216],"Hunting’s performance for Q1 2020 was in line with management’s expectations. The impact of COVID-19 and the actions of the OPEC+ group in late Q1 2020 led to the material decline in the global oil price, which has devastated the industry, firstly within the US onshore market, but followed by the weakening of US offshore and international markets. The asset impairments reported, while significant, reflect similar adjustments reported elsewhere in the energy industry. We continue to manage those business inputs that are in our control, which include tight controls over our cost-base, cash flows and inventories, all of which continue to move in the right direction.",[],{"_key":21525,"_type":173,"children":21526,"markDefs":21531,"style":13454},"35a693a5e232",[21527],{"_key":21528,"_type":177,"marks":21529,"text":21530},"178357e590740",[216],"The outlook for the remainder of the year remains uncertain, as COVID-19 prevention measures continue to change daily. However, enquiry levels have improved with the increasing average oil price and areas of the US onshore market indicate that the mid-point of the year could have been the bottom of the cycle, with cautious steps being taken by our clients to incrementally restart operations. Management anticipates an improving Q4 2020, subject to the impact of the pandemic remaining materially unchanged from the current position.”",[],{"_key":21533,"_type":173,"children":21534,"markDefs":21539,"style":14843},"c6c7067a16aa",[21535],{"_key":21536,"_type":177,"marks":21537,"text":21538},"178357e590742",[179],"Operational Highlights",[],{"_key":21541,"_type":173,"children":21542,"markDefs":21547,"style":182},"bc19144229dc",[21543],{"_key":21544,"_type":177,"marks":21545,"text":21546},"e16a43beec410",[179],"Significant cost reduction programme implemented in reporting period, to align with industry outlook:",[],{"_key":21549,"_type":173,"children":21550,"level":955,"listItem":2555,"markDefs":21555,"style":182},"d40d52006ca2",[21551],{"_key":21552,"_type":177,"marks":21553,"text":21554},"f7bfbeb614580",[],"Two manufacturing facilities at Oklahoma City and Ramsey Road, Houston commenced winding down for moth-balling and closure in H1 2020.",[],{"_key":21557,"_type":173,"children":21558,"level":955,"listItem":2555,"markDefs":21563,"style":182},"9649ad89edec",[21559],{"_key":21560,"_type":177,"marks":21561,"text":21562},"21ff076215250",[],"Closure of Canada manufacturing facility announced on 10 August 2020, given regional market outlook.",[],{"_key":21565,"_type":173,"children":21566,"level":955,"listItem":2555,"markDefs":21571,"style":182},"9de8e8b4ae73",[21567],{"_key":21568,"_type":177,"marks":21569,"text":21570},"39168cb521420",[],"Plans in place for amalgamation of Singapore facilities, shortly to be commenced.",[],{"_key":21573,"_type":173,"children":21574,"level":955,"listItem":2555,"markDefs":21579,"style":182},"e895ceaa61c9",[21575],{"_key":21576,"_type":177,"marks":21577,"text":21578},"950f05d669640",[],"Four distribution centres closed across North America, including Lloydminster in Canada and Broussard, Hobbs and Woodward in the US.",[],{"_key":21581,"_type":173,"children":21582,"level":955,"listItem":2555,"markDefs":21587,"style":182},"93de6462e581",[21583],{"_key":21584,"_type":177,"marks":21585,"text":21586},"ea000b49fe4b0",[],"Headcount reduced by 624 in H1 2020 to 2,332 as at 30 June 2020 (31 December 2019 – 2,956)",[],{"_key":21589,"_type":173,"children":21590,"level":955,"listItem":2555,"markDefs":21595,"style":182},"da88abce7d79",[21591],{"_key":21592,"_type":177,"marks":21593,"text":21594},"9121bac54c470",[],"Annualised cost savings resulting from these initiatives c.$62m.",[],{"_key":21597,"_type":173,"children":21598,"markDefs":21603,"style":182},"29cba8b48c84",[21599],{"_key":21600,"_type":177,"marks":21601,"text":21602},"3a3bd1ea257d0",[179],"Acquisition of Enpro Subsea Limited (“Enpro”) on 21 February 2020:",[],{"_key":21605,"_type":173,"children":21606,"level":955,"listItem":2555,"markDefs":21611,"style":182},"c69f6114b525",[21607],{"_key":21608,"_type":177,"marks":21609,"text":21610},"99b8a4b759cf0",[],"Further complementary bolt-on acquisition of subsea-focused business. The business has performed well since acquisition, making good progress on a number of projects.",[],{"_key":21613,"_type":173,"children":21614,"markDefs":21619,"style":182},"0a13cb896109",[21615],{"_key":21616,"_type":177,"marks":21617,"text":21618},"5e778cb641540",[179],"Commissioning of new detonation cord manufacturing line by Hunting Titan in July 2020:",[],{"_key":21621,"_type":173,"children":21622,"level":955,"listItem":2555,"markDefs":21627,"style":182},"7c33102c54a0",[21623],{"_key":21624,"_type":177,"marks":21625,"text":21626},"4a2a7895a0420",[],"Located at the Group’s Milford facility, Hunting now has an expanded product offering with the capability of producing c.3 million feet of detonation cord annually. The product lines will be used in Hunting’s proprietary perforating systems, as well as being sold as a stand-alone product for the wider market.",[],{"_key":21629,"_type":173,"children":21630,"markDefs":21635,"style":182},"da464924591d",[21631],{"_key":21632,"_type":177,"marks":21633,"text":21634},"6d89aeb3f5000",[179],"New products launched in the period to provide lower-cost and safer technology to clients:",[],{"_key":21637,"_type":173,"children":21638,"level":955,"listItem":2555,"markDefs":21643,"style":182},"410b94fb06f4",[21639],{"_key":21640,"_type":177,"marks":21641,"text":21642},"b8a085c370260",[],"Hunting Titan has launched new variants of the H-1, H-2 and E-SUB perforating systems and a new generation ControlFire® firing switch during Q2 2020, which has the capability of detecting the firing detonator, providing additional safety for the operator. The segment has also commenced the manufacture of pre-loaded perforating guns for customers.",[],{"_key":21645,"_type":173,"children":21646,"level":955,"listItem":2555,"markDefs":21651,"style":182},"152eb4e1c0c8",[21647],{"_key":21648,"_type":177,"marks":21649,"text":21650},"298de3a8486b0",[],"Within the US operating segment, the Group’s subsea business has launched a new high pressure hydraulic coupling and the Drilling Tools business has launched a new range of mud motors, with lower operating costs achieved through a re-design of its main product lines.",[],{"_key":21653,"_type":173,"children":21654,"level":955,"listItem":2555,"markDefs":21659,"style":182},"da7d4b499e12",[21655],{"_key":21656,"_type":177,"marks":21657,"text":21658},"9d33dcbfbd4b0",[],"The EMEA operating segment has continued to trial an organic oil recovery well treatment technology, which improves production of end-of-life wells. During the first half of 2020, a number of laboratory tests were completed on behalf of customers, with positive well treatment results being observed. Further field trials are planned as lockdown measures are lifted.",[],{"_key":21661,"_type":173,"children":21662,"markDefs":21667,"style":182},"79dacacde3ac",[21663],{"_key":21664,"_type":177,"marks":21665,"text":21666},"34d466dc09f40",[179],"Non-oil and gas products continue to diversify revenue. Progress has been made particularly within the Group’s Advanced Manufacturing Group within the US segment.",[],{"_key":21669,"_type":173,"children":21670,"markDefs":21675,"style":182},"dd8ea314b09e",[21671],{"_key":21672,"_type":177,"marks":21673,"text":21674},"43b3384543890",[179],"Response to COVID-19 has included a broad range of measures to maintain employee safety, including staggered shift patterns, reduced utilisation levels, issuing of PPE to all relevant staff, working-from-home initiatives and regular employee monitoring.",[],{"_key":21677,"_type":173,"children":21678,"markDefs":21682,"style":14843},"1d9280a1ca15",[21679],{"_key":21680,"_type":177,"marks":21681,"text":262},"777b7766e7f00",[],[],{"_key":21684,"_type":173,"children":21685,"level":955,"listItem":2555,"markDefs":21690,"style":182},"a693700b3f82",[21686],{"_key":21687,"_type":177,"marks":21688,"text":21689},"0861be6b022b0",[],"Total cash and bank reported at 30 June 2020 of $48.8m (30 June 2019 – $84.4m; 31 December 2019 – $127.0m).",[],{"_key":21692,"_type":173,"children":21693,"level":955,"listItem":2555,"markDefs":21698,"style":182},"87115c45226c",[21694],{"_key":21695,"_type":177,"marks":21696,"text":21697},"af136146dead0",[],"Second interim dividend of 2.0 cents declared in respect of H1 2020 (H1 2019 – 5.0 cents), absorbing cash of approximately $3.3m (H1 2019 – $8.3m), payable to shareholders on 23 October 2020, with a record date of 2 October 2020. The Board is declaring this interim dividend given the Group’s strong balance sheet and healthy cash position. 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Group reports in US dollars across five operating segments: Hunting Titan; US; Canada; Europe, Middle East and Africa (“EMEA”); and Asia Pacific.",[],{"_key":21895,"_type":173,"children":21896,"markDefs":21900,"style":182},"080d7651e600",[21897],{"_key":21898,"_type":177,"marks":21899,"text":1309},"04e3d86b82870",[],[],[21902],{"_key":21903,"_ref":1713,"_type":141},"675d6a1a9948",[21905],{"_key":21906,"_type":10023,"asset":21907,"title":15497},"47c465c8c937",{"_ref":21908,"_type":141},"file-1a376e191d9b97590f3d604a8ed441de7f4c66bd-pdf","Hunting PLC (LSE:HTG), the international energy services group, today announces its results for the six months to 30 June 2020.","2020-08-27T12:41:00.000Z",{"_type":9,"current":21912},"08-27-2020",[21914,21916],{"_key":21915,"_ref":7180,"_type":141},"a79e8b6fecfb",{"_key":21917,"_ref":15507,"_type":141},"968fa5a9c5e9","\u002Fnews\u002F08-27-2020",{"_createdAt":21920,"_id":21921,"_rev":13912,"_type":168,"_updatedAt":116,"body":21922,"categories":22285,"downloads":22288,"introText":21929,"publishedAt":22294,"slug":22295,"tags":22297,"title":19559,"url":22302},"2023-02-20T13:47:46Z","cb7d9960-88c7-48fd-9128-9e20a0a278a9",[21923,21931,21938,21946,21954,21962,21970,21978,21986,21994,22002,22010,22018,22026,22034,22048,22055,22063,22071,22079,22087,22095,22103,22111,22119,22127,22135,22143,22151,22159,22167,22175,22183,22191,22199,22207,22215,22222,22230,22238,22245,22253,22261,22269,22277],{"_key":21924,"_type":173,"children":21925,"markDefs":21930,"style":182},"c9e1d03bea86",[21926],{"_key":21927,"_type":177,"marks":21928,"text":21929},"7e439b6ee82c0",[],"Hunting PLC (LSE:HTG), the international energy 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New products launched in the year, partially offsetting the decline in sales.",[],{"_key":22120,"_type":173,"children":22121,"level":955,"listItem":2555,"markDefs":22126,"style":182},"a3f27d4fc7db",[22122],{"_key":22123,"_type":177,"marks":22124,"text":22125},"7fa2e788e9510",[],"Performance adversely impacted by lower US onshore completion expenditure.",[],{"_key":22128,"_type":173,"children":22129,"level":955,"listItem":2555,"markDefs":22134,"style":182},"4e2b2ba769d1",[22130],{"_key":22131,"_type":177,"marks":22132,"text":22133},"a431424308cd0",[],"Proactive actions taken to address excess inventory levels and convert to cash have impacted margins.",[],{"_key":22136,"_type":173,"children":22137,"level":955,"listItem":2555,"markDefs":22142,"style":182},"6dfa71d866c7",[22138],{"_key":22139,"_type":177,"marks":22140,"text":22141},"a52cfce5ae2e0",[],"New perforating and energetics products and setting tools commercialised in the year, with good customer adoption.",[],{"_key":22144,"_type":173,"children":22145,"level":955,"listItem":2555,"markDefs":22150,"style":182},"d17e346e7fbb",[22146],{"_key":22147,"_type":177,"marks":22148,"text":22149},"686336d6db300",[],"Higher efficiency, lower cost automated manufacturing cells commissioned at Milford and Pampa facilities.\n",[],{"_key":22152,"_type":173,"children":22153,"markDefs":22158,"style":182},"ae91b25a7779",[22154],{"_key":22155,"_type":177,"marks":22156,"text":22157},"14af45f3b9550",[179],"Following our stated strategic goals of investing in offshore technologies, two acquisitions completed which broaden and diversify our offshore portfolio offering:",[],{"_key":22160,"_type":173,"children":22161,"markDefs":22166,"style":182},"c7fa4d6d531d",[22162],{"_key":22163,"_type":177,"marks":22164,"text":22165},"66e50781fdfe0",[179],"Acquisition of RTI Energy Systems Inc. (“RTI”) completed in August 2019.",[],{"_key":22168,"_type":173,"children":22169,"level":955,"listItem":2555,"markDefs":22174,"style":182},"dcce2769d0a6",[22170],{"_key":22171,"_type":177,"marks":22172,"text":22173},"b43372e6c5c80",[],"RTI manufactures titanium and stainless steel stress joints used in offshore developments.",[],{"_key":22176,"_type":173,"children":22177,"level":955,"listItem":2555,"markDefs":22182,"style":182},"1378281ed204",[22178],{"_key":22179,"_type":177,"marks":22180,"text":22181},"60536fcf7e1d0",[],"$12.5m consideration paid for the business and assets.",[],{"_key":22184,"_type":173,"children":22185,"level":955,"listItem":2555,"markDefs":22190,"style":182},"689d6c3387ff",[22186],{"_key":22187,"_type":177,"marks":22188,"text":22189},"a4094bda99180",[],"Integration of business progressing well, with new orders won since year-end.",[],{"_key":22192,"_type":173,"children":22193,"markDefs":22198,"style":182},"9d8aad26e059",[22194],{"_key":22195,"_type":177,"marks":22196,"text":22197},"eeffc769e0240",[179],"Acquisition of Enpro Subsea Limited (“Enpro”) completed in February 2020.",[],{"_key":22200,"_type":173,"children":22201,"level":955,"listItem":2555,"markDefs":22206,"style":182},"4c591a8b263e",[22202],{"_key":22203,"_type":177,"marks":22204,"text":22205},"dc7c035f7d850",[],"Enpro is a leader in subsea production technology, offering low cost, flexible field development solutions, including well production and intervention modules to enhance recovery from oil and gas wells.",[],{"_key":22208,"_type":173,"children":22209,"level":955,"listItem":2555,"markDefs":22214,"style":182},"49b84a331941",[22210],{"_key":22211,"_type":177,"marks":22212,"text":22213},"7daeb81cb9160",[],"$33.0m cash consideration paid for the business, with an additional maximum earn-out of $3.0m agreed, subject to key financial milestones being met.",[],{"_key":22216,"_type":173,"children":22217,"markDefs":22221,"style":182},"8a8933bfc90c",[22218],{"_key":22219,"_type":177,"marks":22220,"text":20858},"f49c3b4862680",[179],[],{"_key":22223,"_type":173,"children":22224,"level":955,"listItem":2555,"markDefs":22229,"style":182},"2bac5e26a1fb",[22225],{"_key":22226,"_type":177,"marks":22227,"text":22228},"47e2ebda25c30",[],"As announced on 23 January 2020, Peter Rose will retire as Finance Director at the Company’s Annual General Meeting (“AGM”) on 15 April 2020.",[],{"_key":22231,"_type":173,"children":22232,"level":955,"listItem":2555,"markDefs":22237,"style":182},"d05b88794ffd",[22233],{"_key":22234,"_type":177,"marks":22235,"text":22236},"8c30201455960",[],"Bruce Ferguson proposed as successor, with appointment submitted to shareholders for approval at the AGM.",[],{"_key":22239,"_type":173,"children":22240,"markDefs":22244,"style":182},"752ed43a6ae0",[22241],{"_key":22242,"_type":177,"marks":22243,"text":201},"c0cfc55d99da0",[],[],{"_key":22246,"_type":173,"children":22247,"markDefs":22252,"style":13454},"da82318ba601",[22248],{"_key":22249,"_type":177,"marks":22250,"text":22251},"d88a45d41fd20",[216],"“Our results announced today reflect the Group’s commitment to capital discipline, retaining a strong balance sheet while delivering a solid performance in difficult market conditions. The oil and gas industry is evolving at an ever-faster pace and Hunting’s portfolio of products and services, as well as new technology introduced in the year, continue to meet this changing market.",[],{"_key":22254,"_type":173,"children":22255,"markDefs":22260,"style":13454},"7d83c98eac0b",[22256],{"_key":22257,"_type":177,"marks":22258,"text":22259},"5e2edda3330b0",[216],"“Our cash generation and year-end net cash position provides operational and financial flexibility, which enables us to consider further acquisitions, as well as increase shareholder distributions. RTI and Enpro were acquired for cash and reflect our ability to move quickly to secure bolt-on businesses.",[],{"_key":22262,"_type":173,"children":22263,"markDefs":22268,"style":13454},"cec1e8afb1b4",[22264],{"_key":22265,"_type":177,"marks":22266,"text":22267},"c8827dc03b5c0",[216],"“For the first time in the history of the Company we are initiating a share buyback programme, as the Board considers the current share price highly undervalues the Group.",[],{"_key":22270,"_type":173,"children":22271,"markDefs":22276,"style":13454},"166ff91bdbb2",[22272],{"_key":22273,"_type":177,"marks":22274,"text":22275},"1c836bae3edd0",[216],"“The impact of the coronavirus continues to be assessed by our Asia Pacific businesses, given the continuing restrictions in place in China.",[],{"_key":22278,"_type":173,"children":22279,"markDefs":22284,"style":13454},"63a365e48df0",[22280],{"_key":22281,"_type":177,"marks":22282,"text":22283},"8ee5cc481c4e0",[216],"“The outlook for 2020 remains uncertain, as over half of all operators have yet to publish budget spend guidance due to continued uncertainty over commodity prices. Despite this backdrop, Hunting remains in an excellent position to deliver shareholder value with its balanced portfolio of products, experienced management team and workforce and strong financial footing.”",[],[22286],{"_key":22287,"_ref":1713,"_type":141},"1a06db957cc5",[22289],{"_key":22290,"_type":10023,"asset":22291,"title":22293},"d671291800de",{"_ref":22292,"_type":141},"file-909efbab893b1a8e80321f2890b448ff7ac0db73-pdf","Download 2019 Full Year Results","2020-02-27T13:46:00.000Z",{"_type":9,"current":22296},"02-27-2020",[22298,22300],{"_key":22299,"_ref":7180,"_type":141},"3512d909c95c",{"_key":22301,"_ref":15507,"_type":141},"4402aa34d58e","\u002Fnews\u002F02-27-2020",{"_createdAt":22304,"_id":22305,"_rev":7134,"_type":168,"_updatedAt":116,"body":22306,"categories":22481,"introText":22313,"publishedAt":22484,"slug":22485,"tags":22487,"title":22492,"url":22493},"2023-02-20T13:49:41Z","f75d4cac-6130-44e6-b58d-0aa7c691278c",[22307,22315,22323,22331,22339,22347,22355,22363,22371,22378,22386,22394,22402,22409,22420,22427,22438,22445,22452,22459,22466,22474],{"_key":22308,"_type":173,"children":22309,"markDefs":22314,"style":182},"40bad755a92b",[22310],{"_key":22311,"_type":177,"marks":22312,"text":22313},"cd50b9ad53fc0",[],"Hunting PLC (LSE:HTG), the international energy services group, today announces the completion of the acquisition of Enpro Subsea Limited (\"Enpro\") for a total consideration of US$33.0m payable on completion, plus a potential maximum earn out of US$3.0m based on EBITDA performance in 2020. The consideration payable is on a cash-free-debt-free basis and payable in cash and has been funded from Hunting's existing cash resources. Enpro is being acquired from members of the Enpro management team and Energy Ventures Private Equity.",[],{"_key":22316,"_type":173,"children":22317,"markDefs":22322,"style":182},"9b9d16e02525",[22318],{"_key":22319,"_type":177,"marks":22320,"text":22321},"985eb05dbaa10",[],"Enpro was founded in 2011 and since this time has developed leading subsea production technology that has been adopted by offshore operators within the global oil and gas industry. Enpro's products focus on delivering production enhancing technologies and include Flow Access Modules, Flow Intervention Services and Decommissioning. These products offer low cost, flexible field development solutions to clients including production and intervention modules to enhance recovery from oil and gas wells. The Flow Access Module technology supports the use of standard subsea SPS hardware leading to shorter development timescales and quicker production of hydrocarbons.",[],{"_key":22324,"_type":173,"children":22325,"markDefs":22330,"style":182},"c705a56f667b",[22326],{"_key":22327,"_type":177,"marks":22328,"text":22329},"a272a717cbed0",[],"Enpro's products are protected by patents that focus on the application and methods of incorporating these products into the subsea system. To date, over 70 Enpro applications have been adopted in the North Sea, the Gulf of Mexico and West Africa.",[],{"_key":22332,"_type":173,"children":22333,"markDefs":22338,"style":182},"4768f64776a3",[22334],{"_key":22335,"_type":177,"marks":22336,"text":22337},"73968f60e8a00",[],"Enpro's business model is focused on technology and product development, with all manufacturing outsourced to third parties. It is the intention to bring much of this manufacturing in-house and utilise Hunting's existing global manufacturing platform to commercialise further the technology across all of the Group's key regional operating hubs. In addition, Hunting's broad customer base offers significant opportunities to extend Enpro's current market reach.",[],{"_key":22340,"_type":173,"children":22341,"markDefs":22346,"style":182},"9a9f81d3c5b4",[22342],{"_key":22343,"_type":177,"marks":22344,"text":22345},"3b6d7eea0d8d0",[],"This month, Enpro was named \"2020 Company of the Year\" by the industry body Subsea UK.",[],{"_key":22348,"_type":173,"children":22349,"markDefs":22354,"style":182},"af7f9ad28cd8",[22350],{"_key":22351,"_type":177,"marks":22352,"text":22353},"a02f313c85ab0",[],"Enpro's head office is in Aberdeen, UK, with subsidiaries in Ghana, Norway and the US. The business currently has a headcount of 40 personnel and it is anticipated that the senior management team will continue with Hunting.",[],{"_key":22356,"_type":173,"children":22357,"markDefs":22362,"style":182},"6b1a04f62693",[22358],{"_key":22359,"_type":177,"marks":22360,"text":22361},"fe2833b1a7cc0",[],"Based on UK GAAP, in the year ended 31 December 2019 Enpro generated revenue of US$14.1m and EBITDA of US$3.4m. At 31 December 2019, Enpro had net assets of approximately US$9.4m, gross assets of US$14.5m and an order book of approximately US$11.0m.",[],{"_key":22364,"_type":173,"children":22365,"markDefs":22370,"style":182},"b5fbd694e66b",[22366],{"_key":22367,"_type":177,"marks":22368,"text":22369},"624951a5b0510",[],"Hunting PLC will be announcing its 2019 Full Year Results, as planned, on Thursday 27 February 2020.",[],{"_key":22372,"_type":173,"children":22373,"markDefs":22377,"style":182},"ee98ab143bbb",[22374],{"_key":22375,"_type":177,"marks":22376,"text":8087},"10c23216192c0",[],[],{"_key":22379,"_type":173,"children":22380,"markDefs":22385,"style":13454},"af61e58e8707",[22381],{"_key":22382,"_type":177,"marks":22383,"text":22384},"a27745a30bcd0",[216],"\"The acquisition of Enpro further strengthens Hunting's subsea offering and adds a high technology product group to our portfolio. The offshore market continues to strengthen and we look forward to providing a wider technology offering to our customers who continue to seek lower cost, enhanced production and more efficient solutions to the production of oil and gas.\"",[],{"_key":22387,"_type":173,"children":22388,"markDefs":22393,"style":13454},"7e51e7292649",[22389],{"_key":22390,"_type":177,"marks":22391,"text":22392},"e0ccee720c430",[],"Ian Donald, CEO of Enpro, added:",[],{"_key":22395,"_type":173,"children":22396,"markDefs":22401,"style":13454},"d8a37befab71",[22397],{"_key":22398,"_type":177,"marks":22399,"text":22400},"c5d8f62e6d6c0",[216],"\"Enpro's technology offering has been utilised by major operators in key offshore development basins across the world. In joining the Hunting group we look forward to utilising its global operating platform to develop new customers and sales and to capitalise on this growing market segment.\"",[],{"_key":22403,"_type":173,"children":22404,"markDefs":22408,"style":182},"5598d11099eb",[22405],{"_key":22406,"_type":177,"marks":22407,"text":1126},"c63b237ba6960",[],[],{"_key":22410,"_type":173,"children":22411,"markDefs":22419,"style":182},"c961879fd3db",[22412,22415],{"_key":22413,"_type":177,"marks":22414,"text":1134},"fef3ea06aa2d0",[179],{"_key":22416,"_type":177,"marks":22417,"text":22418},"fef3ea06aa2d1",[],"\nJim Johnson, Chief Executive\nPeter Rose, Finance Director\nTarryn Riley, Investor Relations",[],{"_key":22421,"_type":173,"children":22422,"markDefs":22426,"style":182},"a75ae1713840",[22423],{"_key":22424,"_type":177,"marks":22425,"text":1165},"9d9ca235e6c00",[179],[],{"_key":22428,"_type":173,"children":22429,"markDefs":22437,"style":182},"1c03b104448b",[22430,22433],{"_key":22431,"_type":177,"marks":22432,"text":8934},"f4ff67c0962a0",[179],{"_key":22434,"_type":177,"marks":22435,"text":22436},"f4ff67c0962a1",[],"\nBen Romney\nChris Judd",[],{"_key":22439,"_type":173,"children":22440,"markDefs":22444,"style":182},"5426f27de34e",[22441],{"_key":22442,"_type":177,"marks":22443,"text":8958},"6fa4d238c2010",[179],[],{"_key":22446,"_type":173,"children":22447,"markDefs":22451,"style":14843},"49663ca8b11f",[22448],{"_key":22449,"_type":177,"marks":22450,"text":10958},"338196386fee0",[],[],{"_key":22453,"_type":173,"children":22454,"markDefs":22458,"style":182},"b80706db1dda",[22455],{"_key":22456,"_type":177,"marks":22457,"text":12234},"df0f2eff152e0",[],[],{"_key":22460,"_type":173,"children":22461,"markDefs":22465,"style":182},"8a2f1da9c7b6",[22462],{"_key":22463,"_type":177,"marks":22464,"text":16202},"f41aed55c8fe0",[],[],{"_key":22467,"_type":173,"children":22468,"markDefs":22473,"style":182},"d0b65b83880b",[22469],{"_key":22470,"_type":177,"marks":22471,"text":22472},"8ef30f1f91ff0",[],"The Group reports in US dollars across five segments: Hunting Titan, US, Canada, EMEA and Asia Pacific.",[],{"_key":22475,"_type":173,"children":22476,"markDefs":22480,"style":182},"cbbb6b3a3e9f",[22477],{"_key":22478,"_type":177,"marks":22479,"text":1309},"3972981ef5b30",[],[],[22482],{"_key":22483,"_ref":1713,"_type":141},"3e2ebd889e1b","2020-02-21T13:49:00.000Z",{"_type":9,"current":22486},"02-25-2020",[22488,22490],{"_key":22489,"_ref":7180,"_type":141},"209a23d14243",{"_key":22491,"_ref":15791,"_type":141},"c597c35fc8dc","Acquisition of Enpro Subsea Limited","\u002Fnews\u002F02-25-2020",{"_createdAt":22495,"_id":22496,"_rev":12607,"_type":168,"_updatedAt":116,"body":22497,"categories":22602,"introText":22504,"publishedAt":22605,"slug":22606,"tags":22608,"title":22613,"url":22614},"2023-02-20T13:50:41Z","266d5ced-a538-4375-b801-d4051e7c2ef9",[22498,22506,22514,22522,22530,22538,22545,22556,22567,22574,22581,22588,22595],{"_key":22499,"_type":173,"children":22500,"markDefs":22505,"style":182},"5007aedbf6fb",[22501],{"_key":22502,"_type":177,"marks":22503,"text":22504},"c9ea7a4cc01d0",[],"Hunting PLC (LSE:HTG), the international energy services group, today announces that Peter Rose, Group Finance Director, has notified the Board of his intention to retire as a Director and step down from the Board at the conclusion of the Company's Annual General Meeting on Wednesday 15 April 2020.",[],{"_key":22507,"_type":173,"children":22508,"markDefs":22513,"style":182},"70e8aab0c61f",[22509],{"_key":22510,"_type":177,"marks":22511,"text":22512},"85da252dcd0a0",[],"Bruce Ferguson, currently Managing Director of the European, Middle East and African operations, will succeed him as Group Finance Director and will be appointed to the Board on Wednesday 15 April 2020, subject to shareholder approval. Bruce has held a number of senior financial positions within the Company and is a qualified Chartered Management Accountant.",[],{"_key":22515,"_type":173,"children":22516,"markDefs":22521,"style":182},"99f707fdc3e2",[22517],{"_key":22518,"_type":177,"marks":22519,"text":22520},"f42c8abc77ae0",[],"Jay Glick, Chairman, said:",[],{"_key":22523,"_type":173,"children":22524,"markDefs":22529,"style":182},"9d677f5a7960",[22525],{"_key":22526,"_type":177,"marks":22527,"text":22528},"f1d55c8d7f1a0",[],"\"The Board thank Peter for his commitment and contribution to the Group over the past 23 years and particularly during his 12 years as Finance Director on the Board, during which time he played an instrumental role in the development of the Company. We wish him well in his retirement from the Board.",[],{"_key":22531,"_type":173,"children":22532,"markDefs":22537,"style":182},"7e9b2ac759be",[22533],{"_key":22534,"_type":177,"marks":22535,"text":22536},"276ea50c641e0",[],"I am delighted that after due consideration and an appropriate selection process, we will welcome Bruce Ferguson to the Board as Finance Director in April 2020. Bruce brings considerable experience and knowledge to the Board having been with the Company for 26 years, of which nine years have been as Managing Director of European operations.\"",[],{"_key":22539,"_type":173,"children":22540,"markDefs":22544,"style":182},"dcf4b04f69ca",[22541],{"_key":22542,"_type":177,"marks":22543,"text":1126},"1839c4c0a6520",[],[],{"_key":22546,"_type":173,"children":22547,"markDefs":22555,"style":182},"04fdf0149918",[22548,22551],{"_key":22549,"_type":177,"marks":22550,"text":1134},"95308d7bf7e40",[179],{"_key":22552,"_type":177,"marks":22553,"text":22554},"95308d7bf7e41",[],"\nJay Glick, Chairman\nJim Johnson, Chief Executive\nTarryn Riley, Investor Relations Tel: +44 (0) 20 7321 0123",[],{"_key":22557,"_type":173,"children":22558,"markDefs":22566,"style":182},"b7a3f1e72034",[22559,22562],{"_key":22560,"_type":177,"marks":22561,"text":8934},"9477371626d30",[179],{"_key":22563,"_type":177,"marks":22564,"text":22565},"9477371626d31",[],"\nBen Romney\nChris Judd\nTel: +44 (0) 20 7466 5000",[],{"_key":22568,"_type":173,"children":22569,"markDefs":22573,"style":14843},"775f826b206a",[22570],{"_key":22571,"_type":177,"marks":22572,"text":10958},"0e67a00586b70",[],[],{"_key":22575,"_type":173,"children":22576,"markDefs":22580,"style":182},"1f3b5d5c1779",[22577],{"_key":22578,"_type":177,"marks":22579,"text":1256},"a1f9721590e50",[],[],{"_key":22582,"_type":173,"children":22583,"markDefs":22587,"style":182},"e046c2e35129",[22584],{"_key":22585,"_type":177,"marks":22586,"text":16202},"08fd42bbd27a0",[],[],{"_key":22589,"_type":173,"children":22590,"markDefs":22594,"style":182},"54c84850380d",[22591],{"_key":22592,"_type":177,"marks":22593,"text":21341},"2c1ec9beae650",[],[],{"_key":22596,"_type":173,"children":22597,"markDefs":22601,"style":182},"c8e6ba85cbba",[22598],{"_key":22599,"_type":177,"marks":22600,"text":16083},"80cf9cd7b4fb0",[],[],[22603],{"_key":22604,"_ref":1713,"_type":141},"372497eaa562","2020-01-23T13:50:00.000Z",{"_type":9,"current":22607},"01-23-2020",[22609,22611],{"_key":22610,"_ref":7180,"_type":141},"b67bd359904b",{"_key":22612,"_ref":16463,"_type":141},"477b2ab5e1a6","Directorate change","\u002Fnews\u002F01-23-2020",{"_createdAt":22616,"_id":22617,"_rev":7809,"_type":168,"_updatedAt":116,"body":22618,"categories":23105,"downloads":23108,"introText":23114,"publishedAt":23115,"slug":23116,"tags":23118,"title":20065,"url":23123},"2023-02-20T13:57:18Z","7c46e229-ac4a-4bf6-8b77-1381d5c21ee0",[22619,22627,22634,22642,22650,22658,22666,22674,22682,22690,22698,22706,22713,22721,22729,22737,22745,22753,22761,22769,22777,22785,22793,22801,22809,22817,22825,22833,22841,22849,22857,22865,22873,22881,22888,22896,22904,22912,22920,22928,22936,22943,22951,22959,22967,22984,23001,23017,23028,23042,23049,23060,23070,23077,23084,23091,23098],{"_key":22620,"_type":173,"children":22621,"markDefs":22626,"style":182},"94d6fc955caf",[22622],{"_key":22623,"_type":177,"marks":22624,"text":22625},"7695869fa5c30",[],"Unaudited results for the six months to 30 June 2019",[],{"_key":22628,"_type":173,"children":22629,"markDefs":22633,"style":14843},"c9cae5cd7453",[22630],{"_key":22631,"_type":177,"marks":22632,"text":19579},"f49a872d1018",[],[],{"_key":22635,"_type":173,"children":22636,"level":955,"listItem":2555,"markDefs":22641,"style":182},"eb34daafeabd",[22637],{"_key":22638,"_type":177,"marks":22639,"text":22640},"630166b076960",[],"Revenue $508.9m (H1 2018 - $442.8m)",[],{"_key":22643,"_type":173,"children":22644,"level":955,"listItem":2555,"markDefs":22649,"style":182},"858268dd8371",[22645],{"_key":22646,"_type":177,"marks":22647,"text":22648},"4afc16be15f50",[],"Underlying EBITDA $77.4m (H1 2018 - $72.6m) ***",[],{"_key":22651,"_type":173,"children":22652,"level":955,"listItem":2555,"markDefs":22657,"style":182},"31879eb06fe9",[22653],{"_key":22654,"_type":177,"marks":22655,"text":22656},"220b3b4f7a5b0",[],"Underlying profit from operations $55.6m (H1 2018 - $53.5m)",[],{"_key":22659,"_type":173,"children":22660,"level":955,"listItem":2555,"markDefs":22665,"style":182},"90b0b21162ae",[22661],{"_key":22662,"_type":177,"marks":22663,"text":22664},"db9ea0e7d9380",[],"Reported profit from operations of $41.1m (H1 2018 - $38.9m)",[],{"_key":22667,"_type":173,"children":22668,"level":955,"listItem":2555,"markDefs":22673,"style":182},"a8ab779a676e",[22669],{"_key":22670,"_type":177,"marks":22671,"text":22672},"27a61eee79a50",[],"Underlying diluted earnings per share 23.6 cents (H1 2018 - 25.0 cents)",[],{"_key":22675,"_type":173,"children":22676,"level":955,"listItem":2555,"markDefs":22681,"style":182},"1a5ec6619171",[22677],{"_key":22678,"_type":177,"marks":22679,"text":22680},"40bb63d301e40",[],"Reported diluted earnings per share 17.3 cents (H1 2018 - 19.1 cents)",[],{"_key":22683,"_type":173,"children":22684,"level":955,"listItem":2555,"markDefs":22689,"style":182},"299800ac9857",[22685],{"_key":22686,"_type":177,"marks":22687,"text":22688},"2d40ccd7b6ab0",[],"Interim dividend declared of 5.0 cents (H1 2018 - 4.0 cents)",[],{"_key":22691,"_type":173,"children":22692,"level":955,"listItem":2555,"markDefs":22697,"style":182},"e453f47b4689",[22693],{"_key":22694,"_type":177,"marks":22695,"text":22696},"5b0aed5fff160",[],"Net cash of $33.4m (31 December 2018 - $61.3m net cash) ***",[],{"_key":22699,"_type":173,"children":22700,"markDefs":22705,"style":182},"e31b52a23579",[22701],{"_key":22702,"_type":177,"marks":22703,"text":22704},"520f61d35a170",[216],"* - Underlying results are before amortization of acquired intangible assets and exceptional items. Reported results are based on the statutory results as reported under International Financial Reporting Standards.\n** - Financial data for H1 2019 includes the adoption of IFRS 16 Leases from 1 January 2019. Prior period financial information has not been restated.\n*** - EBITDA and net cash are non-GAAP measures. Please refer to pages 31 and 25 of the Half Year 2019 report for further information.",[],{"_key":22707,"_type":173,"children":22708,"markDefs":22712,"style":14843},"263ece8af9b5",[22709],{"_key":22710,"_type":177,"marks":22711,"text":21538},"756f36d864e7",[],[],{"_key":22714,"_type":173,"children":22715,"markDefs":22720,"style":182},"83919c58c621",[22716],{"_key":22717,"_type":177,"marks":22718,"text":22719},"7947042356b10",[179],"Continued focus on the introduction of new technology to clients:",[],{"_key":22722,"_type":173,"children":22723,"level":955,"listItem":2555,"markDefs":22728,"style":182},"7501e31e07d4",[22724],{"_key":22725,"_type":177,"marks":22726,"text":22727},"ed88edaa67650",[],"Launch of the H-2 and E-SUB Perforating Systems.",[],{"_key":22730,"_type":173,"children":22731,"level":955,"listItem":2555,"markDefs":22736,"style":182},"972622be41e6",[22732],{"_key":22733,"_type":177,"marks":22734,"text":22735},"f85859e509870",[],"Additional completion products introduced to customers include the T-Set One setting tool, a new power charge offering and a new Release Tool.",[],{"_key":22738,"_type":173,"children":22739,"level":955,"listItem":2555,"markDefs":22744,"style":182},"06cd08d43cfd",[22740],{"_key":22741,"_type":177,"marks":22742,"text":22743},"342f234706420",[],"New size variants of premium and semi-premium threadforms: SEAL-LOCK™, WEDGE-LOCK™ and TEC-LOCK™ developed and certified for introduction to clients.",[],{"_key":22746,"_type":173,"children":22747,"markDefs":22752,"style":182},"76009a20d932",[22748],{"_key":22749,"_type":177,"marks":22750,"text":22751},"3626160a38d80",[179],"Capacity expansion and automation programmes within Hunting Titan:",[],{"_key":22754,"_type":173,"children":22755,"level":955,"listItem":2555,"markDefs":22760,"style":182},"63e59c921d71",[22756],{"_key":22757,"_type":177,"marks":22758,"text":22759},"41e3f0c4e69e0",[],"Automated production cells for the manufacture of perforating guns at Pampa, Texas, being fully commissioned Q3.",[],{"_key":22762,"_type":173,"children":22763,"level":955,"listItem":2555,"markDefs":22768,"style":182},"f272bf538eff",[22764],{"_key":22765,"_type":177,"marks":22766,"text":22767},"148471d0fe570",[],"Energetics expansion programme at Milford, Texas, provides a production capacity in excess of 1 million shaped charges per month.",[],{"_key":22770,"_type":173,"children":22771,"markDefs":22776,"style":182},"9670f079e992",[22772],{"_key":22773,"_type":177,"marks":22774,"text":22775},"9d647a11c86d0",[179],"Hunting Titan maintains market share in the US, despite challenging US onshore markets, which adversely impacted operating profit:",[],{"_key":22778,"_type":173,"children":22779,"level":955,"listItem":2555,"markDefs":22784,"style":182},"cb1e28c37104",[22780],{"_key":22781,"_type":177,"marks":22782,"text":22783},"f9b0b673f6c20",[],"Period-on-period increase in the number of Perforating System units and ControlFire™ addressable switches sold.",[],{"_key":22786,"_type":173,"children":22787,"level":955,"listItem":2555,"markDefs":22792,"style":182},"b08868559476",[22788],{"_key":22789,"_type":177,"marks":22790,"text":22791},"bd1b0261649c0",[],"Perforating gun margins adversely impacted in period, as excess conventional perforating gun inventories were sold off.",[],{"_key":22794,"_type":173,"children":22795,"level":955,"listItem":2555,"markDefs":22800,"style":182},"242cb89a4ac1",[22796],{"_key":22797,"_type":177,"marks":22798,"text":22799},"37e2fc2359080",[],"Price reductions on certain product lines to respond to market environment.",[],{"_key":22802,"_type":173,"children":22803,"markDefs":22808,"style":182},"e8ee67ac70a9",[22804],{"_key":22805,"_type":177,"marks":22806,"text":22807},"e1b6e76f253f0",[179],"US and Asia Pacific operating segments reporting good period-on-period growth as general market conditions continue to stabilise:",[],{"_key":22810,"_type":173,"children":22811,"level":955,"listItem":2555,"markDefs":22816,"style":182},"1251cbd2d940",[22812],{"_key":22813,"_type":177,"marks":22814,"text":22815},"27a61efb7a3d0",[],"Strong increase in downhole measurement tool orders received, benefiting the Advanced Manufacturing group.",[],{"_key":22818,"_type":173,"children":22819,"level":955,"listItem":2555,"markDefs":22824,"style":182},"cd89d22c8f05",[22820],{"_key":22821,"_type":177,"marks":22822,"text":22823},"e5693eda15570",[],"Premium and Semi-Premium Connection orders increasing for onshore and offshore drilling programmes.",[],{"_key":22826,"_type":173,"children":22827,"level":955,"listItem":2555,"markDefs":22832,"style":182},"132c1c6af4ce",[22828],{"_key":22829,"_type":177,"marks":22830,"text":22831},"937ace4bb9f00",[],"International drilling markets showing signs of improvement as OCTG orders completed for Oman, China and Australia.",[],{"_key":22834,"_type":173,"children":22835,"level":955,"listItem":2555,"markDefs":22840,"style":182},"3c6b50a7bbe5",[22836],{"_key":22837,"_type":177,"marks":22838,"text":22839},"286e76fa48a80",[],"US segment now incorporates the results from our Exploration and Production operations that were previously disclosed separately.",[],{"_key":22842,"_type":173,"children":22843,"markDefs":22848,"style":182},"c557495e3e81",[22844],{"_key":22845,"_type":177,"marks":22846,"text":22847},"cde08c280f2e0",[179],"Europe, Middle East and Africa operating segment reports good period-on-period revenue increases as activity in the North Sea and Middle East support growth. Profitability significantly improved in the period as a result of market recovery and as restructuring actions take effect.",[],{"_key":22850,"_type":173,"children":22851,"markDefs":22856,"style":182},"dd2c8b48d110",[22852],{"_key":22853,"_type":177,"marks":22854,"text":22855},"b8f7b29ade260",[179],"Canada operating segment impacted by government mandated production slowdown in Alberta, coupled with extremely poor weather in January and February, leading to oil and gas production ceasing for a short time.",[],{"_key":22858,"_type":173,"children":22859,"markDefs":22864,"style":182},"7441e69bd5f9",[22860],{"_key":22861,"_type":177,"marks":22862,"text":22863},"de392326f8b10",[179],"Acquisition of the business and assets of RTI Energy Systems Inc. (\"RTIES\") completed on 16 August 2019 for cash consideration of $12.5m:",[],{"_key":22866,"_type":173,"children":22867,"level":955,"listItem":2555,"markDefs":22872,"style":182},"4fd4f5e93021",[22868],{"_key":22869,"_type":177,"marks":22870,"text":22871},"6239834dea7c0",[],"Complementary bolt-on acquisition in line with strategic objectives to add technological products and capabilities to address customer demand.",[],{"_key":22874,"_type":173,"children":22875,"level":955,"listItem":2555,"markDefs":22880,"style":182},"69c8bca6ea9b",[22876],{"_key":22877,"_type":177,"marks":22878,"text":22879},"b55bd27849c00",[],"RTIES being integrated into the Group's Subsea business.",[],{"_key":22882,"_type":173,"children":22883,"markDefs":22887,"style":14843},"de94b291c0e5",[22884],{"_key":22885,"_type":177,"marks":22886,"text":262},"dccc024bc5480",[],[],{"_key":22889,"_type":173,"children":22890,"level":955,"listItem":2555,"markDefs":22895,"style":182},"017ccfdfae65",[22891],{"_key":22892,"_type":177,"marks":22893,"text":22894},"0928bea55ca30",[],"15% increase in revenue reported in the period as performance of US, EMEA and Asia Pacific segments deliver growth.",[],{"_key":22897,"_type":173,"children":22898,"level":955,"listItem":2555,"markDefs":22903,"style":182},"1bb21668fb9a",[22899],{"_key":22900,"_type":177,"marks":22901,"text":22902},"96f61f01898c0",[],"Gross margin of 29% (H1 2018 - 31%) and EBITDA margin of 15% (H1 2018 - 16%) achieved in the period - impacted by Hunting Titan.",[],{"_key":22905,"_type":173,"children":22906,"level":955,"listItem":2555,"markDefs":22911,"style":182},"e38d2ffd10f4",[22907],{"_key":22908,"_type":177,"marks":22909,"text":22910},"d91e75ee7f4d0",[],"Strong net cash position reported at 30 June 2019 of $33.4m, which includes $47.1m for lease liabilities (Net cash reported at 30 June 2018 of $39.0m and 31 December 2018 of $61.3m both exclude lease liabilities).",[],{"_key":22913,"_type":173,"children":22914,"level":955,"listItem":2555,"markDefs":22919,"style":182},"b94de1058dca",[22915],{"_key":22916,"_type":177,"marks":22917,"text":22918},"5781f79343560",[],"The Group generated a statutory cash inflow of $19.6m in the period.",[],{"_key":22921,"_type":173,"children":22922,"level":955,"listItem":2555,"markDefs":22927,"style":182},"2b8df143c031",[22923],{"_key":22924,"_type":177,"marks":22925,"text":22926},"fa64e083133a0",[],"Interim dividend of 5.0 cents declared (H1 2018 - 4.0 cents), absorbing cash of approximately $8.3m (H1 2018 - $6.6m), payable to shareholders on 23 October 2019, with a record date of 4 October 2019.",[],{"_key":22929,"_type":173,"children":22930,"level":955,"listItem":2555,"markDefs":22935,"style":182},"abd2a44860cb",[22931],{"_key":22932,"_type":177,"marks":22933,"text":22934},"eeb77f58d0aa0",[],"Adoption of IFRS 16 Leases from 1 January 2019 benefits EBITDA with the removal of $4.6m of lease costs at the half year point. On a like-for-like basis EBITDA is in line with H1 2018. Prior period financials have not been restated for IFRS 16, as the standard is being adopted with effect from 1 January 2019. Additional depreciation of $4.0m in the half year is charged to the income statement on the capitalised lease assets and accordingly operating profit benefits by a net $0.6m at the half year point. Additional finance charges of $1.1m are recognised in the half year results and result in a net $0.5m deterioration in profit before tax from the adoption of IFRS 16. The balance sheet as at 30 June 2019 now reflects capitalised right-of-use assets of $39.6m and $47.1m of lease liabilities.",[],{"_key":22937,"_type":173,"children":22938,"markDefs":22942,"style":182},"1ca37a6ae819",[22939],{"_key":22940,"_type":177,"marks":22941,"text":201},"4019646816900",[179],[],{"_key":22944,"_type":173,"children":22945,"markDefs":22950,"style":13454},"aa8485ba7bed",[22946],{"_key":22947,"_type":177,"marks":22948,"text":22949},"92185fe403900",[216],"\"The first half of 2019 has delivered a strong set of results under difficult market conditions. Despite the general market uncertainty within the oil and gas industry, Hunting's businesses are performing well, with management focused on delivering the Group's strategy of focused growth based on proprietary technology and ongoing lean manufacturing initiatives which allows us to build on a strong market share.",[],{"_key":22952,"_type":173,"children":22953,"markDefs":22958,"style":13454},"3dcc5feb1df3",[22954],{"_key":22955,"_type":177,"marks":22956,"text":22957},"0b767b2b931d0",[216],"We are pleased to have concluded the RTI Energy Systems acquisition. This business adds a strong product suite to the Group's offshore technology portfolio and gives Hunting access to leading global deep-water projects. The acquisition also delivers on our stated strategic goal of targeting investments that provide complementary technologies to the offshore oil and gas industry.",[],{"_key":22960,"_type":173,"children":22961,"markDefs":22966,"style":13454},"5f2d9306799e",[22962],{"_key":22963,"_type":177,"marks":22964,"text":22965},"62c1755e2fe20",[216],"The Board is pleased with today's results, but given the volatile market and global economic conditions will continue to update investors regularly on the Group's performance for the balance of the year.\"",[],{"_key":22968,"_type":173,"children":22969,"markDefs":22982,"style":182},"7bbb0f24c70a",[22970,22973,22977],{"_key":22971,"_type":177,"marks":22972,"text":9501},"d73a0667067e0",[179],{"_key":22974,"_type":177,"marks":22975,"text":22976},"d73a0667067e1",[],"\nFor access to the Half Year Management Report narrative for the six months to 30 June 2019 please click on the following link:\n",{"_key":22978,"_type":177,"marks":22979,"text":22981},"d73a0667067e2",[22980],"9d35c62881dd","http:\u002F\u002Fwww.rns-pdf.londonstockexchange.com\u002Frns\u002F4742K_1-2019-8-28.pdf",[22983],{"_key":22980,"_type":138,"href":22981},{"_key":22985,"_type":173,"children":22986,"markDefs":22999,"style":182},"f0f24ffca130",[22987,22990,22994],{"_key":22988,"_type":177,"marks":22989,"text":1017},"b569ec8373890",[179],{"_key":22991,"_type":177,"marks":22992,"text":22993},"b569ec8373891",[],"\nFor access to the Condensed Consolidated Financial Statements and Notes for the six months to 30 June 2019 please click on the following link:\n",{"_key":22995,"_type":177,"marks":22996,"text":22998},"b569ec8373892",[22997],"72651c9b0dc4","http:\u002F\u002Fwww.rns-pdf.londonstockexchange.com\u002Frns\u002F4742K_2-2019-8-28.pdf",[23000],{"_key":22997,"_type":138,"href":22998},{"_key":23002,"_type":173,"children":23003,"markDefs":23015,"style":182},"ba885c98f1d3",[23004,23008,23012],{"_key":23005,"_type":177,"marks":23006,"text":23007},"35946fa62a1a0",[],"The attached documents provide complete access to the Group's 2019 Half Year Report. The Report can also be accessed at ",{"_key":23009,"_type":177,"marks":23010,"text":2296},"35946fa62a1a1",[23011],"ef369fbe88be",{"_key":23013,"_type":177,"marks":23014,"text":3208},"35946fa62a1a2",[],[23016],{"_key":23011,"_type":138,"href":2303},{"_key":23018,"_type":173,"children":23019,"markDefs":23027,"style":182},"42abca8d9b2a",[23020,23023],{"_key":23021,"_type":177,"marks":23022,"text":1064},"2a7636130b4a0",[179],{"_key":23024,"_type":177,"marks":23025,"text":23026},"2a7636130b4a1",[],"\nHunting PLC will host an analyst briefing on Thursday 29 August 2019 at 10:00a.m. at the offices of Buchanan, 107 Cheapside, London, EC2V 6DN.",[],{"_key":23029,"_type":173,"children":23030,"markDefs":23040,"style":182},"31de83bf89f3",[23031,23035],{"_key":23032,"_type":177,"marks":23033,"text":23034},"1c7ecb058da70",[],"An audio webcast will be available on:\n",{"_key":23036,"_type":177,"marks":23037,"text":23039},"1c7ecb058da71",[23038],"8f31138d95fd","https:\u002F\u002Fwebcasting.buchanan.uk.com\u002Fbroadcast\u002F5d381c7e48a6d52f84f6afdf",[23041],{"_key":23038,"_type":138,"href":23039},{"_key":23043,"_type":173,"children":23044,"markDefs":23048,"style":182},"c93f7bedcdc4",[23045],{"_key":23046,"_type":177,"marks":23047,"text":1126},"b685c05ae4330",[],[],{"_key":23050,"_type":173,"children":23051,"markDefs":23059,"style":182},"19a5145d983e",[23052,23055],{"_key":23053,"_type":177,"marks":23054,"text":1134},"915f17059d980",[179],{"_key":23056,"_type":177,"marks":23057,"text":23058},"915f17059d981",[],"\nJim Johnson, Chief Executive\nPeter Rose, Finance Director\nTarryn Riley, Investor Relations\nTel: +44 (0) 20 7321 0123",[],{"_key":23061,"_type":173,"children":23062,"markDefs":23069,"style":182},"fa94cfc1c2a3",[23063,23066],{"_key":23064,"_type":177,"marks":23065,"text":8934},"23c2eb91852f0",[179],{"_key":23067,"_type":177,"marks":23068,"text":22565},"23c2eb91852f1",[],[],{"_key":23071,"_type":173,"children":23072,"markDefs":23076,"style":14843},"e6501a07f75e",[23073],{"_key":23074,"_type":177,"marks":23075,"text":10958},"9077a43d02b00",[],[],{"_key":23078,"_type":173,"children":23079,"markDefs":23083,"style":182},"ea95e78a788d",[23080],{"_key":23081,"_type":177,"marks":23082,"text":12234},"16d489b19b470",[],[],{"_key":23085,"_type":173,"children":23086,"markDefs":23090,"style":182},"5aa76104c289",[23087],{"_key":23088,"_type":177,"marks":23089,"text":16202},"746de10fd00e0",[],[],{"_key":23092,"_type":173,"children":23093,"markDefs":23097,"style":182},"8607e0add0a4",[23094],{"_key":23095,"_type":177,"marks":23096,"text":21892},"2f1facb0eab00",[],[],{"_key":23099,"_type":173,"children":23100,"markDefs":23104,"style":182},"cdab95cc543d",[23101],{"_key":23102,"_type":177,"marks":23103,"text":1309},"cc34f62ae5920",[],[],[23106],{"_key":23107,"_ref":1713,"_type":141},"f0ec7622fe7f",[23109],{"_key":23110,"_type":10023,"asset":23111,"title":23113},"6dee244d106f",{"_ref":23112,"_type":141},"file-97b4bb5daad89111553b761edaa2ba138611a3a6-pdf","Download 2019 Half Year Results","Hunting PLC (LSE:HTG), the international energy services group, today announces its results for the six months to 30 June 2019.","2019-08-29T12:55:00.000Z",{"_type":9,"current":23117},"08-29-2019",[23119,23121],{"_key":23120,"_ref":7180,"_type":141},"ec676b030c2e",{"_key":23122,"_ref":15507,"_type":141},"f9e9548b6559","\u002Fnews\u002F08-29-2019",{"_createdAt":23125,"_id":23126,"_rev":14811,"_type":168,"_updatedAt":116,"body":23127,"categories":23248,"downloads":23251,"introText":23134,"publishedAt":23256,"slug":23257,"tags":23259,"title":23264,"url":23265},"2023-02-20T14:01:28Z","0a1441b8-0064-4cf3-9f4c-69c69b7184d1",[23128,23136,23144,23152,23160,23168,23176,23183,23194,23201,23212,23219,23226,23233,23240],{"_key":23129,"_type":173,"children":23130,"markDefs":23135,"style":182},"3650ebecf92c",[23131],{"_key":23132,"_type":177,"marks":23133,"text":23134},"2768629f90510",[],"Hunting PLC (LSE:HTG), the international energy services group, today announces the completion of the acquisition of the business and assets of RTI Energy Systems Inc. (“RTIES”) for a total cash consideration of US$12.5m. The consideration payable has been funded from Hunting’s existing cash resources.",[],{"_key":23137,"_type":173,"children":23138,"markDefs":23143,"style":182},"499cd54a2f6c",[23139],{"_key":23140,"_type":177,"marks":23141,"text":23142},"61f345f357160",[],"RTIES is a leading manufacturer of production riser technologies for deep water applications within the offshore oil and gas industry. RTIES’s product portfolio incorporates proprietary technology and know-how which is protected by a number of patents. RTIES is unique within the industry as the only supplier of titanium stress joints, providing a more reliable, compact and lower total cost alternative to flexible joints and steel tapered stress joints. RTIES’s customer base includes major exploration and production groups and primary suppliers to the industry. In addition to these product lines, RTIES generates revenue from the fabrication and precision machining of components used in the oil and gas industry, as well as providing inspection and maintenance services for customers. RTIES has historically focused its business on the Gulf of Mexico with its products being used in many deep water and ultra-deep water projects in the region. RTIES is an operating subsidiary of Arconic, Inc., a global leader in lightweight metals engineering and manufacturing based in the US.",[],{"_key":23145,"_type":173,"children":23146,"markDefs":23151,"style":182},"1a06b0528876",[23147],{"_key":23148,"_type":177,"marks":23149,"text":23150},"0e37db917e290",[],"RTIES operates from a single site facility in Houston, Texas, US, with 87,000 square feet of covered operating floor space, and currently employs 21 personnel. It is anticipated that key members of the senior management team will continue with Hunting.",[],{"_key":23153,"_type":173,"children":23154,"markDefs":23159,"style":182},"28016002acc2",[23155],{"_key":23156,"_type":177,"marks":23157,"text":23158},"44a079e44db00",[],"RTIES is currently loss making as the global offshore drilling market continues its recovery and return to growth. However, given RTIES’s product portfolio and market position management are optimistic of securing market opportunities to deliver returns going forward. Hunting’s valuation of the balance sheet of RTIES has net assets of approximately $13.0m which underpins the consideration being paid. Based on US GAAP management accounts, for the year ended 31 December 2018, RTIES recorded revenues of $7.1m which generated an operating loss. Historically RTIES has generated profits at good margins and in 2014 and 2013, RTIES recorded revenues of $49.2m and $85.5m respectively.",[],{"_key":23161,"_type":173,"children":23162,"markDefs":23167,"style":182},"d0fc51c93f92",[23163],{"_key":23164,"_type":177,"marks":23165,"text":23166},"0a671b7741490",[],"Commenting on the acquisition, Jim Johnson, Chief Executive said:",[],{"_key":23169,"_type":173,"children":23170,"markDefs":23175,"style":182},"33cda465fc48",[23171],{"_key":23172,"_type":177,"marks":23173,"text":23174},"3a3a3011d2000",[216],"“Given the new offshore deep water projects being commissioned within the US, Brazil and Guyana, RTIES, which will sit alongside and complement our Subsea operations, will provide Hunting with an enlarged product offering into the recovering deep water offshore market. The transaction also delivers on our stated strategic goal of targeting investments in differentiated technologies to enhance our value proposition for the offshore oil and gas industry.”",[],{"_key":23177,"_type":173,"children":23178,"markDefs":23182,"style":182},"e161b7b77811",[23179],{"_key":23180,"_type":177,"marks":23181,"text":1126},"b69a27bfe2430",[],[],{"_key":23184,"_type":173,"children":23185,"markDefs":23193,"style":182},"7b797c9ad7b3",[23186,23189],{"_key":23187,"_type":177,"marks":23188,"text":1134},"5122bab680e20",[179],{"_key":23190,"_type":177,"marks":23191,"text":23192},"5122bab680e21",[],"\nJim Johnson, Chief Executive Peter Rose, Finance Director Tarryn Riley, Investor Relations",[],{"_key":23195,"_type":173,"children":23196,"markDefs":23200,"style":182},"1e1d9dfaf415",[23197],{"_key":23198,"_type":177,"marks":23199,"text":1165},"482e012d7abd0",[179],[],{"_key":23202,"_type":173,"children":23203,"markDefs":23211,"style":182},"5baf87eab897",[23204,23207],{"_key":23205,"_type":177,"marks":23206,"text":8934},"2309aff4fd110",[179],{"_key":23208,"_type":177,"marks":23209,"text":23210},"2309aff4fd111",[],"\nBen Romney Chris Judd",[],{"_key":23213,"_type":173,"children":23214,"markDefs":23218,"style":182},"597f7c73cdab",[23215],{"_key":23216,"_type":177,"marks":23217,"text":8958},"09adfa8afbdb0",[179],[],{"_key":23220,"_type":173,"children":23221,"markDefs":23225,"style":14843},"646200f4fa44",[23222],{"_key":23223,"_type":177,"marks":23224,"text":10958},"a0ec4363a7850",[],[],{"_key":23227,"_type":173,"children":23228,"markDefs":23232,"style":182},"dfa7a7482a21",[23229],{"_key":23230,"_type":177,"marks":23231,"text":12234},"dd04bf8f82ff0",[],[],{"_key":23234,"_type":173,"children":23235,"markDefs":23239,"style":182},"36bb4b928fbd",[23236],{"_key":23237,"_type":177,"marks":23238,"text":16202},"e1ff19a2c8790",[],[],{"_key":23241,"_type":173,"children":23242,"markDefs":23247,"style":182},"5bece4cb4438",[23243],{"_key":23244,"_type":177,"marks":23245,"text":23246},"5844bef78eef0",[],"The Group reports in US dollars across five segments: Hunting Titan, US, Canada, EMEA and Asia Pacific. Hunting PLC’s Legal Entity Identifier is 2138008S5FL78ITZRN66.",[],[23249],{"_key":23250,"_ref":1713,"_type":141},"b92e3b54e8ed",[23252],{"_key":23253,"_type":10023,"asset":23254,"title":15497},"c0c728fbdc56",{"_ref":23255,"_type":141},"file-527a72eae78182bcd98407449df4f8d8b03c0344-pdf","2019-08-16T17:00:00.000Z",{"_type":9,"current":23258},"08-16-2019",[23260,23262],{"_key":23261,"_ref":7180,"_type":141},"ef5d63ba8e55",{"_key":23263,"_ref":15791,"_type":141},"b11b432cff18","Acquisition of the business and assets of RTI Energy Systems Inc.","\u002Fnews\u002F08-16-2019",{"_createdAt":23267,"_id":23268,"_rev":13935,"_type":168,"_updatedAt":116,"body":23269,"categories":23424,"downloads":23427,"introText":23276,"publishedAt":23432,"slug":23433,"tags":23435,"title":23438,"url":23439},"2023-02-20T13:59:43Z","8a92cdf2-034a-4883-b002-2c7143f7299c",[23270,23278,23286,23294,23302,23310,23318,23326,23333,23343,23350,23360,23367,23374,23381,23388,23395,23403,23410,23417],{"_key":23271,"_type":173,"children":23272,"markDefs":23277,"style":182},"5ae3dc538312",[23273],{"_key":23274,"_type":177,"marks":23275,"text":23276},"e2e853f5d2d10",[],"Hunting Energy Services (a wholly-owned subsidiary of Hunting PLC, LSE : HTG), with its leading Premium Connections technology, has today signed a strategic alliance with Jindal SAW Ltd., leaders in pipe manufacturing, in New Delhi.",[],{"_key":23279,"_type":173,"children":23280,"markDefs":23285,"style":182},"997d90b6690c",[23281],{"_key":23282,"_type":177,"marks":23283,"text":23284},"5c7123a559050",[],"Under the partnership, Hunting Energy Services will share their patented Premium Connections technology with Jindal SAW Ltd., who in turn will manufacture premium seamless casing and tubing using the connections technology.",[],{"_key":23287,"_type":173,"children":23288,"markDefs":23293,"style":182},"7dee3fbdf6df",[23289],{"_key":23290,"_type":177,"marks":23291,"text":23292},"526f5ba993860",[],"Mr. Jim Johnson, CEO, Hunting PLC and Mr. Neeraj Kumar, Group CEO & Whole Time Director, Jindal SAW Ltd. signed the partnership, in the presence of Mr. PR Jindal, Chairman Jindal SAW Ltd.",[],{"_key":23295,"_type":173,"children":23296,"markDefs":23301,"style":182},"5cde43c56732",[23297],{"_key":23298,"_type":177,"marks":23299,"text":23300},"19ab9fba0d0e0",[],"On the occasion of the partnership, Mr. PR Jindal, Chairman Jindal SAW Ltd said that “this alliance will be a step forward in the government of India’s ‘Make in India’ initiative as promoted by the Government of India.” “Mr. Jim Johnson, CEO, Hunting PLC said, “We are really glad to announce this Strategic Partnership with Jindal SAW Ltd. Both our strengths combined will bring in a revolution in the OCTG manufacturing and use in India. This will bring in a whole new cutting-edge range of premium seamless Casing and Tubing in the country.”",[],{"_key":23303,"_type":173,"children":23304,"markDefs":23309,"style":182},"ede0f78edbdf",[23305],{"_key":23306,"_type":177,"marks":23307,"text":23308},"4faf951fbc9d0",[],"“India’s demand for seamless pipe with premium connections has until now been covered through imports. Now with this partnership for manufacturing seamless pipes in India, the nation can look at a reduction in their imports.” Mr. Johnson added.",[],{"_key":23311,"_type":173,"children":23312,"markDefs":23317,"style":182},"58d18c8ba11b",[23313],{"_key":23314,"_type":177,"marks":23315,"text":23316},"4def74e043850",[],"This partnership will result in the manufacture of finished seamless Premium Casing and Tubing in India.",[],{"_key":23319,"_type":173,"children":23320,"markDefs":23325,"style":182},"21d4a8a5a211",[23321],{"_key":23322,"_type":177,"marks":23323,"text":23324},"3fd343196b5c0",[],"“We are pleased to join hands with Hunting and leverage their global expertise to manufacture premium connections. This is a huge step towards establishing a self-sustainable seamless pipe market in India. With this step, we will look at reducing our imports, in-turn saving substantial foreign exchange.” said Mr. Neeraj Kumar, Group CEO & Whole Time Director, Jindal SAW Ltd.",[],{"_key":23327,"_type":173,"children":23328,"markDefs":23332,"style":182},"cc3b034e72a2",[23329],{"_key":23330,"_type":177,"marks":23331,"text":1126},"d8d85ea720d80",[],[],{"_key":23334,"_type":173,"children":23335,"markDefs":23342,"style":182},"065aa27a89fc",[23336,23339],{"_key":23337,"_type":177,"marks":23338,"text":1134},"83a2ed2ca3f70",[179],{"_key":23340,"_type":177,"marks":23341,"text":22418},"83a2ed2ca3f71",[],[],{"_key":23344,"_type":173,"children":23345,"markDefs":23349,"style":182},"ab982d17943b",[23346],{"_key":23347,"_type":177,"marks":23348,"text":1165},"4ffdc6ea98a00",[179],[],{"_key":23351,"_type":173,"children":23352,"markDefs":23359,"style":182},"453a6e27ec9f",[23353,23356],{"_key":23354,"_type":177,"marks":23355,"text":8934},"3fac3c9335970",[179],{"_key":23357,"_type":177,"marks":23358,"text":22436},"3fac3c9335971",[],[],{"_key":23361,"_type":173,"children":23362,"markDefs":23366,"style":182},"270778003b8c",[23363],{"_key":23364,"_type":177,"marks":23365,"text":8958},"0bfb928e939d0",[179],[],{"_key":23368,"_type":173,"children":23369,"markDefs":23373,"style":14843},"d16d9ef60d2f",[23370],{"_key":23371,"_type":177,"marks":23372,"text":10958},"3fc1fb63fd870",[],[],{"_key":23375,"_type":173,"children":23376,"markDefs":23380,"style":182},"5f44d6ab3554",[23377],{"_key":23378,"_type":177,"marks":23379,"text":14764},"f27c105c0e620",[179],[],{"_key":23382,"_type":173,"children":23383,"markDefs":23387,"style":182},"9ff6992fe404",[23384],{"_key":23385,"_type":177,"marks":23386,"text":14772},"3db06a4682be0",[],[],{"_key":23389,"_type":173,"children":23390,"markDefs":23394,"style":182},"dfb0b21b34a4",[23391],{"_key":23392,"_type":177,"marks":23393,"text":14787},"67b0d266e61f0",[179],[],{"_key":23396,"_type":173,"children":23397,"markDefs":23402,"style":182},"a9076980e362",[23398],{"_key":23399,"_type":177,"marks":23400,"text":23401},"1c664565e1b20",[],"Jindal SAW Ltd. is a leading global manufacturer and supplier of Steel pipe products, fittings and accessories with manufacturing facilities in India, USA, Europe and UAE. They manufacture Seamless Carbon & Alloy Steel pipes and tubes in their state of the art manufacturing facility at Nashik for Casing \u002F Tubing & Linepipe application for the oil and gas sector. 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China.",[],{"_key":23677,"_type":173,"children":23678,"level":955,"listItem":2555,"markDefs":23683,"style":182},"6d2a4f1c8d56",[23679],{"_key":23680,"_type":177,"marks":23681,"text":23682},"21c1b144da780",[],"Middle East activity improved in the year as well intervention and OCTG sales into Northern Iraq recommenced.",[],{"_key":23685,"_type":173,"children":23686,"markDefs":23691,"style":182},"e11627da6326",[23687],{"_key":23688,"_type":177,"marks":23689,"text":23690},"8545c74935c90",[179],"Capital investment mainly addressing production capacity constraints.",[],{"_key":23693,"_type":173,"children":23694,"level":955,"listItem":2555,"markDefs":23699,"style":182},"033902a42161",[23695],{"_key":23696,"_type":177,"marks":23697,"text":23698},"905187e82fea0",[],"$30.1m spent in the year, including investment to support future demand for Hunting Titan products, targeted to reduce costs and increase efficiency.",[],{"_key":23701,"_type":173,"children":23702,"markDefs":23707,"style":182},"9ea978778209",[23703],{"_key":23704,"_type":177,"marks":23705,"text":23706},"896e4ae260d90",[179],"Group rationalisation continued in the year.",[],{"_key":23709,"_type":173,"children":23710,"level":955,"listItem":2555,"markDefs":23715,"style":182},"0eb808e214b2",[23711],{"_key":23712,"_type":177,"marks":23713,"text":23714},"32b908cbbeb10",[],"Closure of one manufacturing facility in Kenya and three distribution centres in North America.",[],{"_key":23717,"_type":173,"children":23718,"markDefs":23723,"style":182},"3a683602ffb9",[23719],{"_key":23720,"_type":177,"marks":23721,"text":23722},"7de1c016cee30",[179],"Board changes.",[],{"_key":23725,"_type":173,"children":23726,"level":955,"listItem":2555,"markDefs":23731,"style":182},"27f55142e8d9",[23727],{"_key":23728,"_type":177,"marks":23729,"text":23730},"0dd3594923f00",[],"Carol Chesney appointed Director and Chair of the Audit Committee in April 2018.",[],{"_key":23733,"_type":173,"children":23734,"level":955,"listItem":2555,"markDefs":23739,"style":182},"baef794fa49b",[23735],{"_key":23736,"_type":177,"marks":23737,"text":23738},"70aeda6470480",[],"Keith Lough appointed Director in April 2018 and Senior Independent Director in August 2018.",[],{"_key":23741,"_type":173,"children":23742,"level":955,"listItem":2555,"markDefs":23747,"style":182},"29736a8a02fb",[23743],{"_key":23744,"_type":177,"marks":23745,"text":23746},"e48d6eb6a97f0",[],"John Nicholas retired from the Board in April 2018 and John Hofmeister retired in August 2018, both completing nine years’ service.",[],{"_key":23749,"_type":173,"children":23750,"markDefs":23754,"style":182},"c33ee82dbe41",[23751],{"_key":23752,"_type":177,"marks":23753,"text":201},"c7c20e57663d0",[],[],{"_key":23756,"_type":173,"children":23757,"markDefs":23762,"style":13454},"93a9799c2637",[23758],{"_key":23759,"_type":177,"marks":23760,"text":23761},"c1fd0f4303e00",[216],"“The Group’s improved performance in 2018 and into early 2019, has been driven by US onshore-centric drilling activity and investment, while the results of Hunting’s international businesses remain dependent on further market improvement. Given the ongoing commodity price and geopolitical volatility, the Board remains focused on the agility and flexibility of the business to respond to market conditions. Initiatives to further improve profitability and margins, and reduce losses, including in-sourcing of production, facility rationalisation and inter-segment manufacturing, will also continue in the year ahead.",[],{"_key":23764,"_type":173,"children":23765,"markDefs":23770,"style":13454},"eb2842850f89",[23766],{"_key":23767,"_type":177,"marks":23768,"text":23769},"7dc20c365def0",[216],"“The Company has a number of new products and technologies scheduled to launch in 2019, which will continue to broaden our market reach. Further, with the commissioning of new, higher-efficiency manufacturing, the potential for margin improvement in our key product lines is anticipated, however, it is also conditional on activity levels improving. The Board continues to review bolt-on acquisition opportunities, which, if concluded, will increase our presence in the wellbore and enhance our current product portfolio. Any potential acquisitions would need to complement our portfolio of onshore technologies as well as subsea completions within the oil and gas industry.",[],{"_key":23772,"_type":173,"children":23773,"markDefs":23778,"style":13454},"f7f1f4ae46cd",[23774],{"_key":23775,"_type":177,"marks":23776,"text":23777},"447caab9ca0b0",[216],"“With a strong balance sheet, tightly managed cost base and a strong presence in our chosen upstream equipment and service markets, Hunting remains well positioned to capture opportunities in the current market, should the recovery across the industry continue.”",[],{"_key":23780,"_type":173,"children":23781,"markDefs":23785,"style":182},"56c3bb3c444a",[23782],{"_key":23783,"_type":177,"marks":23784,"text":970},"611fed1acb400",[179],[],{"_key":23787,"_type":173,"children":23788,"markDefs":23793,"style":182},"b4c77f08d0ce",[23789],{"_key":23790,"_type":177,"marks":23791,"text":23792},"d12786393f870",[],"For access to narrative on the Group’s results (incorporating the Chairman’s and Chief Executive’s Statements, Market Review, Group Review, Outlook and Segmental Review) for the year ended 31 December 2018 please click on the following link.",[],{"_key":23795,"_type":173,"children":23796,"markDefs":23802,"style":182},"02ae77de6e21",[23797],{"_key":23798,"_type":177,"marks":23799,"text":23801},"ada65d6441d20",[23800],"239dad4c3899","http:\u002F\u002Fwww.rns-pdf.londonstockexchange.com\u002Frns\u002F3360R_1-2019-2-27.pdf",[23803],{"_key":23800,"_type":138,"href":23801},{"_key":23805,"_type":173,"children":23806,"markDefs":23810,"style":182},"d92956feaea2",[23807],{"_key":23808,"_type":177,"marks":23809,"text":1017},"01f50b9decd00",[179],[],{"_key":23812,"_type":173,"children":23813,"markDefs":23818,"style":182},"d94cda01777b",[23814],{"_key":23815,"_type":177,"marks":23816,"text":23817},"efd48f84ad000",[],"For access to the Financial Statements and Notes to the Accounts for the year ended 31 December 2018 please click on the following link.",[],{"_key":23820,"_type":173,"children":23821,"markDefs":23827,"style":182},"ec2c2118e47f",[23822],{"_key":23823,"_type":177,"marks":23824,"text":23826},"fe93a8aff5400",[23825],"2fa18109c418","http:\u002F\u002Fwww.rns-pdf.londonstockexchange.com\u002Frns\u002F3360R_2-2019-2-27.pdf",[23828],{"_key":23825,"_type":138,"href":23826},{"_key":23830,"_type":173,"children":23831,"markDefs":23835,"style":182},"eaf2e7613539",[23832],{"_key":23833,"_type":177,"marks":23834,"text":3159},"60d732f292ba0",[179],[],{"_key":23837,"_type":173,"children":23838,"markDefs":23843,"style":182},"e70b1dc248ae",[23839],{"_key":23840,"_type":177,"marks":23841,"text":23842},"2d7b470470060",[],"For access to Hunting’s Business Model and Strategy, Risk Management (including Principal Risks) and Key Performance Indicators information and the Statement of the Directors’ Responsibilities for the year ended 31 December 2018 please click on the following link.",[],{"_key":23845,"_type":173,"children":23846,"markDefs":23852,"style":182},"cb9ec95a04bf",[23847],{"_key":23848,"_type":177,"marks":23849,"text":23851},"994e8a759fbe0",[23850],"a1ba89e92857","http:\u002F\u002Fwww.rns-pdf.londonstockexchange.com\u002Frns\u002F3360R_3-2019-2-27.pdf",[23853],{"_key":23850,"_type":138,"href":23851},{"_key":23855,"_type":173,"children":23856,"markDefs":23860,"style":182},"a4dd3c976608",[23857],{"_key":23858,"_type":177,"marks":23859,"text":3192},"0e6caeee98f10",[],[],{"_key":23862,"_type":173,"children":23863,"markDefs":23878,"style":182},"7e5e2e69345b",[23864,23868,23871,23875],{"_key":23865,"_type":177,"marks":23866,"text":23867},"7f619c4ac9c40",[216],"The linked documents provide access to all major financial and operational disclosures contained in the Group’s 2018 Annual Report and Accounts. The complete 2018 Annual Report and Accounts will be published on 13 March 2019 and can then be accessed at",{"_key":23869,"_type":177,"marks":23870,"text":15101},"7f619c4ac9c41",[],{"_key":23872,"_type":177,"marks":23873,"text":2296},"7f619c4ac9c42",[216,23874],"fb52a0eaffe2",{"_key":23876,"_type":177,"marks":23877,"text":3208},"7f619c4ac9c43",[216],[23879],{"_key":23874,"_type":138,"href":2303},{"_key":23881,"_type":173,"children":23882,"markDefs":23887,"style":182},"493e2d8f38ef",[23883],{"_key":23884,"_type":177,"marks":23885,"text":23886},"a6955177aad70",[],"The financial information set out in the above links does not constitute the Company’s statutory accounts for the years ended 31 December 2018 or 31 December 2017, but is extracted from those accounts. Statutory accounts for 2017 have been delivered to the Registrar of Companies and those for 2018 will be delivered in due course. The auditors have reported on those accounts; their reports were unqualified, did not draw attention to any matter by way of emphasis without qualifying their report and did not contain statements under S498(2) or (3) of the Companies Act 2006. Whilst the financial information included in this preliminary announcement has been computed in accordance with International Financial Reporting Standards, this announcement does not itself contain sufficient information to comply with IFRS.",[],{"_key":23889,"_type":173,"children":23890,"markDefs":23894,"style":182},"25808c84ef57",[23891],{"_key":23892,"_type":177,"marks":23893,"text":1064},"e8a78a7666de0",[179],[],{"_key":23896,"_type":173,"children":23897,"markDefs":23902,"style":182},"6933e23c4c40",[23898],{"_key":23899,"_type":177,"marks":23900,"text":23901},"6e18a7543ddc0",[],"Hunting PLC will host an analyst briefing on Thursday 28 February 2019 at 10.45a.m. at the offices of Buchanan, 107 Cheapside, London, EC2V 6DN.",[],{"_key":23904,"_type":173,"children":23905,"markDefs":23910,"style":182},"9e60d723309d",[23906],{"_key":23907,"_type":177,"marks":23908,"text":23909},"3e1db07908af0",[],"An audio webcast will be available on:",[],{"_key":23912,"_type":173,"children":23913,"markDefs":23919,"style":182},"e84e6e89aff9",[23914],{"_key":23915,"_type":177,"marks":23916,"text":23918},"449e1f0717ca0",[23917],"08ae2403eec5","http:\u002F\u002Fwebcasting.buchanan.uk.com\u002Fbroadcast\u002F5c4b2c06a0c50933d27109ad",[23920],{"_key":23917,"_type":138,"href":23918},{"_key":23922,"_type":173,"children":23923,"markDefs":23927,"style":182},"8166fa18b3d9",[23924],{"_key":23925,"_type":177,"marks":23926,"text":1126},"7f30b0e2cd7b0",[],[],{"_key":23929,"_type":173,"children":23930,"markDefs":23938,"style":182},"7480b579de5a",[23931,23934],{"_key":23932,"_type":177,"marks":23933,"text":1134},"62dbc1383af00",[179],{"_key":23935,"_type":177,"marks":23936,"text":23937},"62dbc1383af01",[],"\nJim Johnson, Chief Executive\nPeter Rose, Finance Director\nTarryn Riley, Investor Relations Tel: +44 (0) 20 7321 0123",[],{"_key":23940,"_type":173,"children":23941,"markDefs":23948,"style":182},"3e6cafd2acb8",[23942,23945],{"_key":23943,"_type":177,"marks":23944,"text":8934},"80a928a8d3ea0",[179],{"_key":23946,"_type":177,"marks":23947,"text":22565},"80a928a8d3ea1",[],[],{"_key":23950,"_type":173,"children":23951,"markDefs":23955,"style":182},"ac5116650d53",[23952],{"_key":23953,"_type":177,"marks":23954,"text":10958},"6ef884b77d320",[],[],{"_key":23957,"_type":173,"children":23958,"markDefs":23962,"style":182},"5ec421dd9467",[23959],{"_key":23960,"_type":177,"marks":23961,"text":12234},"4c2fad2761de0",[],[],{"_key":23964,"_type":173,"children":23965,"markDefs":23969,"style":182},"02fcf5b01a46",[23966],{"_key":23967,"_type":177,"marks":23968,"text":16202},"c20191806ec20",[],[],{"_key":23971,"_type":173,"children":23972,"markDefs":23977,"style":182},"c9b64b5b3a55",[23973],{"_key":23974,"_type":177,"marks":23975,"text":23976},"3851cf15af150",[],"The Group reports in US dollars across seven segments: Hunting Titan, US, Canada, Europe, Asia Pacific, Middle East\u002FAfrica\u002FOther and Exploration and Production.",[],{"_key":23979,"_type":173,"children":23980,"markDefs":23984,"style":182},"86fc7eaf7961",[23981],{"_key":23982,"_type":177,"marks":23983,"text":1309},"8c44618db4cb0",[],[],[23986],{"_key":23987,"_ref":1713,"_type":141},"f5316894839f",[23989],{"_key":23990,"_type":10023,"asset":23991,"title":23993},"3f32db9235c7",{"_ref":23992,"_type":141},"file-a5f4e3dd1da6db3113a1cbac0f514c4e9b67d3cc-pdf","Download 2018 Full Year Results","2019-02-28T14:03:00.000Z",{"_type":9,"current":23996},"02-28-2019",[23998,24000],{"_key":23999,"_ref":7180,"_type":141},"c4a1bdd906b3",{"_key":24001,"_ref":15507,"_type":141},"5115cc73ebf4","\u002Fnews\u002F02-28-2019",{"_createdAt":24004,"_id":24005,"_rev":13912,"_type":168,"_updatedAt":116,"body":24006,"categories":24439,"downloads":24442,"introText":24448,"publishedAt":24449,"slug":24450,"tags":24452,"title":20065,"url":24457},"2023-02-20T14:08:06Z","c145e44b-f285-4a8e-a663-b1c7f3fa2053",[24007,24015,24023,24031,24039,24047,24055,24063,24071,24079,24087,24095,24102,24110,24118,24126,24134,24142,24150,24158,24166,24174,24181,24189,24197,24205,24213,24221,24229,24237,24245,24252,24260,24268,24276,24283,24291,24301,24308,24316,24326,24345,24352,24360,24367,24377,24384,24394,24402,24409,24416,24424,24431],{"_key":24008,"_type":173,"children":24009,"markDefs":24014,"style":182},"4a96fde2b072",[24010],{"_key":24011,"_type":177,"marks":24012,"text":24013},"4fb1bf072e480",[],"Hunting PLC (LSE:HTG), the international energy services group, today announces its results for the six months to 30 June 2018.",[],{"_key":24016,"_type":173,"children":24017,"markDefs":24022,"style":14843},"3ea8efa636df",[24018],{"_key":24019,"_type":177,"marks":24020,"text":24021},"46d0e377d67b0",[],"Financial Summary¹",[],{"_key":24024,"_type":173,"children":24025,"level":955,"listItem":2555,"markDefs":24030,"style":182},"9eaf3193d64a",[24026],{"_key":24027,"_type":177,"marks":24028,"text":24029},"635bc4b3eb420",[],"Revenue $442.8m (H1 2017 - 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Scheduled completion Q1 2019 with a 15% and 30% increase in production capacity for conventional perforating guns and H-1 Perforating Systems respectively; and",[],{"_key":24159,"_type":173,"children":24160,"level":3751,"listItem":2555,"markDefs":24165,"style":182},"bc79ad08dfb2",[24161],{"_key":24162,"_type":177,"marks":24163,"text":24164},"666d7168896e0",[],"Progress with new technology development - commercial launch of autonomous cutting tool and enhanced H-1 Perforating System planned for H2 2018 and Q1 2019 respectively.",[],{"_key":24167,"_type":173,"children":24168,"level":955,"listItem":2555,"markDefs":24173,"style":182},"3f944789f3d8",[24169],{"_key":24170,"_type":177,"marks":24171,"text":24172},"dac494a6ac660",[],"Commercial launch of three TEC-LOCK™ semi-premium connection variants achieved during the period. Target markets include onshore conventional and shale projects.",[],{"_key":24175,"_type":173,"children":24176,"markDefs":24180,"style":14843},"29b99f1bf215",[24177],{"_key":24178,"_type":177,"marks":24179,"text":262},"b8cdf1d508cf0",[],[],{"_key":24182,"_type":173,"children":24183,"level":955,"listItem":2555,"markDefs":24188,"style":182},"0fc40ebfa11a",[24184],{"_key":24185,"_type":177,"marks":24186,"text":24187},"e18fcbd269210",[],"Increased revenue and EBITDA reported in the period and a return to underlying and reported profit before tax.",[],{"_key":24190,"_type":173,"children":24191,"level":955,"listItem":2555,"markDefs":24196,"style":182},"d9511b25de7f",[24192],{"_key":24193,"_type":177,"marks":24194,"text":24195},"4d6f9d85af130",[],"Gross margin of 31% (H1 2017 - 22%) and EBITDA margin of 16% (H1 2017 - 4%) achieved in the period on the back of a lower cost base and operating leverage benefits.",[],{"_key":24198,"_type":173,"children":24199,"level":955,"listItem":2555,"markDefs":24204,"style":182},"6bcb1d9f97d6",[24200],{"_key":24201,"_type":177,"marks":24202,"text":24203},"adba79e80eb10",[],"Hunting Titan and US operations report operating profits as markets improve. Asia Pacific, Canada, Europe, Middle East and E&P segments remain loss making.",[],{"_key":24206,"_type":173,"children":24207,"level":955,"listItem":2555,"markDefs":24212,"style":182},"13a970401911",[24208],{"_key":24209,"_type":177,"marks":24210,"text":24211},"2daae54260670",[],"Recommencement of shareholder distributions – interim dividend of 4.0 cents declared, absorbing approximately $6.6m, payable to shareholders on 24 October 2018, with a record date of 5 October 2018.",[],{"_key":24214,"_type":173,"children":24215,"markDefs":24220,"style":182},"1ab09238bbe2",[24216],{"_key":24217,"_type":177,"marks":24218,"text":24219},"a7d565c95d630",[179],"Board Changes and Executive Committee",[],{"_key":24222,"_type":173,"children":24223,"level":955,"listItem":2555,"markDefs":24228,"style":182},"12451766a689",[24224],{"_key":24225,"_type":177,"marks":24226,"text":24227},"aa84e4a919c60",[],"Carol Chesney and Keith Lough joined the Board as independent non-executive Directors on 23 April 2018. 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Annell Bay has been appointed Chair of the Remuneration Committee and Keith Lough has been appointed Senior Independent Director.",[],{"_key":24238,"_type":173,"children":24239,"level":955,"listItem":2555,"markDefs":24244,"style":182},"fa50805a6a17",[24240],{"_key":24241,"_type":177,"marks":24242,"text":24243},"22709106298b0",[],"Formation of Executive Committee comprising the executive Directors plus segment heads to manage the Group.",[],{"_key":24246,"_type":173,"children":24247,"markDefs":24251,"style":182},"3875d4398656",[24248],{"_key":24249,"_type":177,"marks":24250,"text":201},"e987aba4d76d0",[179],[],{"_key":24253,"_type":173,"children":24254,"markDefs":24259,"style":13454},"955015e4b87d",[24255],{"_key":24256,"_type":177,"marks":24257,"text":24258},"12876431ec800",[216],"“The Group’s results for the first half of the year are underpinned by a strong market environment within US onshore completions, which has led to outstanding results for Hunting Titan and improving profitability for Hunting’s US operations.",[],{"_key":24261,"_type":173,"children":24262,"markDefs":24267,"style":13454},"42e64306c852",[24263],{"_key":24264,"_type":177,"marks":24265,"text":24266},"bb2af1f05f1a0",[216],"“Outside the US, Hunting’s other reporting segments are seeing improving markets. 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Mrs Chesney is currently a non-executive Director of Renishaw plc, where she has been Chair of the Audit Committee since 2012.",[],{"_key":24518,"_type":173,"children":24519,"markDefs":24524,"style":182},"018adea7d9cc",[24520],{"_key":24521,"_type":177,"marks":24522,"text":24523},"475812dd1baa0",[],"Since 1998, Mrs Chesney has been Company Secretary of Halma PLC, the FTSE 100 health, safety and environmental technology group, where she oversees governance, pensions, group insurance and ethics compliance. 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Prior to that, Mr Lough held a number of executive positions in the oil and gas and wider energy industries, including British Energy and LASMO plc.",[],{"_key":24558,"_type":173,"children":24559,"markDefs":24564,"style":182},"8c4a8e7fb2aa",[24560],{"_key":24561,"_type":177,"marks":24562,"text":24563},"e6904deaf9a80",[],"Mr Lough is a Fellow of the Association of Chartered Certified Accountants.",[],{"_key":24566,"_type":173,"children":24567,"markDefs":24572,"style":182},"9f2e1efecd9d",[24568],{"_key":24569,"_type":177,"marks":24570,"text":24571},"a1eadf9fd4180",[],"Mrs Chesney and Mr Lough will both join the Audit, Nomination and Remuneration Committees with immediate effect.",[],{"_key":24574,"_type":173,"children":24575,"markDefs":24580,"style":182},"552d6060a9db",[24576],{"_key":24577,"_type":177,"marks":24578,"text":24579},"50e7a268cf7f0",[],"Further, Mrs Chesney has been appointed Chair of the Audit Committee with immediate effect, following the retirement of John Nicholas at the Company’s 2018 Annual General Meeting held on 18 April 2018.",[],{"_key":24582,"_type":173,"children":24583,"markDefs":24588,"style":182},"1c3e83f93f58",[24584],{"_key":24585,"_type":177,"marks":24586,"text":24587},"6cb21c28b3ca0",[],"Following these appointments, Richard Hunting has stepped down as a member of the Audit Committee with effect from today’s date.",[],{"_key":24590,"_type":173,"children":24591,"markDefs":24596,"style":182},"64e568828964",[24592],{"_key":24593,"_type":177,"marks":24594,"text":24595},"9b2636dfb8060",[],"There are no further disclosures pursuant to Listing Rule 9.6.13.",[],{"_key":24598,"_type":173,"children":24599,"markDefs":24603,"style":182},"7cdd1be22f28",[24600],{"_key":24601,"_type":177,"marks":24602,"text":1126},"3f54e20d02500",[],[],{"_key":24605,"_type":173,"children":24606,"markDefs":24614,"style":182},"f289a6115bd1",[24607,24610],{"_key":24608,"_type":177,"marks":24609,"text":1134},"8e4a0a566a34",[179],{"_key":24611,"_type":177,"marks":24612,"text":24613},"18588905a192",[],"\nJohn F. 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Onshore drilling and completion activity in the US shale basins has led the strong recovery for those businesses within Hunting focused on this market. Elsewhere across the Group, cost cutting initiatives and general market stability have helped narrow losses.",[],{"_key":24925,"_type":173,"children":24926,"markDefs":24931,"style":13454},"8a12f3bf1f39",[24927],{"_key":24928,"_type":177,"marks":24929,"text":24930},"6cb3a7f771b90",[216],"“We are pleased to have completed the process of exiting our suspension period bank covenants. While the Company is not proposing a dividend in respect of the 2017 financial year, shareholder distributions will be considered, subject to the Group’s current performance being sustained.”",[],{"_key":24933,"_type":173,"children":24934,"markDefs":24938,"style":182},"ddf51333103c",[24935],{"_key":24936,"_type":177,"marks":24937,"text":970},"f63f797338400",[179],[],{"_key":24940,"_type":173,"children":24941,"markDefs":24946,"style":182},"1c731dd13c94",[24942],{"_key":24943,"_type":177,"marks":24944,"text":24945},"e1963d4bbd0a0",[],"For access to narrative on the Group’s results (incorporating the Chairman’s and Chief Executive’s Statements, Market Review, Group Review, Outlook and Segmental Review) for the year ended 31 December 2017 please click on the following link.",[],{"_key":24948,"_type":173,"children":24949,"markDefs":24955,"style":182},"81815332ee9c",[24950],{"_key":24951,"_type":177,"marks":24952,"text":24954},"5ffbde3b6d830",[24953],"35bee631235f","http:\u002F\u002Fwww.rns-pdf.londonstockexchange.com\u002Frns\u002F2994G_-2018-2-28.pdf",[24956],{"_key":24953,"_type":138,"href":24954},{"_key":24958,"_type":173,"children":24959,"markDefs":24963,"style":182},"d1c8b318ba8a",[24960],{"_key":24961,"_type":177,"marks":24962,"text":1017},"2d077966c34f0",[179],[],{"_key":24965,"_type":173,"children":24966,"markDefs":24971,"style":182},"a41812b1d053",[24967],{"_key":24968,"_type":177,"marks":24969,"text":24970},"69384fcc0e2c0",[],"For access to the Financial Statements and Notes to the Accounts for the year ended 31 December 2017 please click on the following link.",[],{"_key":24973,"_type":173,"children":24974,"markDefs":24980,"style":182},"ddbb8e9aceff",[24975],{"_key":24976,"_type":177,"marks":24977,"text":24979},"d103ede586210",[24978],"6bd3851501ce","http:\u002F\u002Fwww.rns-pdf.londonstockexchange.com\u002Frns\u002F2994G_1-2018-2-28.pdf",[24981],{"_key":24978,"_type":138,"href":24979},{"_key":24983,"_type":173,"children":24984,"markDefs":24988,"style":182},"ba98c1d46a1b",[24985],{"_key":24986,"_type":177,"marks":24987,"text":3159},"00f543a8fa760",[179],[],{"_key":24990,"_type":173,"children":24991,"markDefs":24996,"style":182},"ba3edc7a029f",[24992],{"_key":24993,"_type":177,"marks":24994,"text":24995},"005f2028e9070",[],"For access to Hunting’s Business Model and Strategy, Risk Management (including Principal Risks) and Key Performance Indicators information and the Statement of the Directors’ Responsibilities for the year ended 31 December 2017 please click on the following link.",[],{"_key":24998,"_type":173,"children":24999,"markDefs":25005,"style":182},"780d3b0aed1a",[25000],{"_key":25001,"_type":177,"marks":25002,"text":25004},"aac3d42bcc040",[25003],"d6bdf476602b","http:\u002F\u002Fwww.rns-pdf.londonstockexchange.com\u002Frns\u002F2994G_2-2018-2-28.pdf",[25006],{"_key":25003,"_type":138,"href":25004},{"_key":25008,"_type":173,"children":25009,"markDefs":25013,"style":182},"156579198dfa",[25010],{"_key":25011,"_type":177,"marks":25012,"text":3192},"415e674b55210",[],[],{"_key":25015,"_type":173,"children":25016,"markDefs":25031,"style":182},"0a4b37bcc306",[25017,25021,25024,25028],{"_key":25018,"_type":177,"marks":25019,"text":25020},"9b6ec757d9f40",[216],"The linked documents provide access to all major financial and operational disclosures contained in the Group’s 2017 Annual Report and Accounts. The complete 2017 Annual Report and Accounts will be published on 13 March 2018 and can then be accessed at",{"_key":25022,"_type":177,"marks":25023,"text":15101},"9b6ec757d9f41",[],{"_key":25025,"_type":177,"marks":25026,"text":2296},"9b6ec757d9f42",[216,25027],"baf1a0ac3bb3",{"_key":25029,"_type":177,"marks":25030,"text":3208},"9b6ec757d9f43",[216],[25032],{"_key":25027,"_type":138,"href":2303},{"_key":25034,"_type":173,"children":25035,"markDefs":25040,"style":182},"33ce0dc6e751",[25036],{"_key":25037,"_type":177,"marks":25038,"text":25039},"20dea85352370",[],"The financial information set out in the above links does not constitute the Company’s statutory accounts for the years ended 31 December 2017 or 31 December 2016, but is extracted from those accounts. Statutory accounts for 2016 have been delivered to the Registrar of Companies and those for 2017 will be delivered in due course. The auditors have reported on those accounts; their reports were unqualified, did not draw attention to any matter by way of emphasis without qualifying their report and did not contain statements under S498(2) or (3) of the Companies Act 2006. Whilst the financial information included in this preliminary announcement has been computed in accordance with International Financial Reporting Standards, this announcement does not itself contain sufficient information to comply with IFRS.",[],{"_key":25042,"_type":173,"children":25043,"markDefs":25047,"style":182},"7ab96c977aa6",[25044],{"_key":25045,"_type":177,"marks":25046,"text":1064},"3a8d2b95b3710",[179],[],{"_key":25049,"_type":173,"children":25050,"markDefs":25055,"style":182},"7017461120b4",[25051],{"_key":25052,"_type":177,"marks":25053,"text":25054},"23e7d4abd3be0",[],"Hunting PLC will host an analyst briefing on Thursday 1 March 2018 at 10.30a.m. at the offices of Buchanan, 107 Cheapside, London, EC2V 6DN.",[],{"_key":25057,"_type":173,"children":25058,"markDefs":25062,"style":182},"19575b9910fc",[25059],{"_key":25060,"_type":177,"marks":25061,"text":23909},"aeaf5abe2fd20",[],[],{"_key":25064,"_type":173,"children":25065,"markDefs":25071,"style":182},"cd609e11f17b",[25066],{"_key":25067,"_type":177,"marks":25068,"text":25070},"73f801581d630",[25069],"7dbfd402b700","http:\u002F\u002Fvm.buchanan.uk.com\u002F2018\u002Fhunting010318\u002Fregistration.htm",[25072],{"_key":25069,"_type":138,"href":25070},{"_key":25074,"_type":173,"children":25075,"markDefs":25079,"style":182},"d00c900ee192",[25076],{"_key":25077,"_type":177,"marks":25078,"text":1126},"c11b4cf18e080",[],[],{"_key":25081,"_type":173,"children":25082,"markDefs":25089,"style":182},"fb8cc1730c53",[25083,25086],{"_key":25084,"_type":177,"marks":25085,"text":1134},"ff7766c6e1af0",[179],{"_key":25087,"_type":177,"marks":25088,"text":23937},"ff7766c6e1af1",[],[],{"_key":25091,"_type":173,"children":25092,"markDefs":25097,"style":182},"ae70cb190ae2",[25093],{"_key":25094,"_type":177,"marks":25095,"text":25096},"c90a7bdb06a90",[],"Tel: +44 (0) 20 7466 5000Buchanan\nBen Romney\nChris Judd",[],{"_key":25099,"_type":173,"children":25100,"markDefs":25104,"style":14843},"b1bc4ea05adb",[25101],{"_key":25102,"_type":177,"marks":25103,"text":10958},"85da6ba8226d0",[],[],{"_key":25106,"_type":173,"children":25107,"markDefs":25111,"style":182},"fe8a7c9344cc",[25108],{"_key":25109,"_type":177,"marks":25110,"text":12234},"8f4d46f23f1d0",[],[],{"_key":25113,"_type":173,"children":25114,"markDefs":25119,"style":182},"064ed4f534b3",[25115],{"_key":25116,"_type":177,"marks":25117,"text":25118},"45ed38d71fe20",[],"Hunting PLC is an international energy services provider to the world's leading upstream oil and gas companies. Established in 1874, it is a premium listed public company traded on the London Stock Exchange. The Company maintains a corporate office in Houston and is headquartered in London. As well as the United Kingdom, the Company has operations in Canada, China, Indonesia, Kenya, Mexico, Netherlands, Norway, Saudi Arabia, Singapore, United Arab Emirates and the United States of America.",[],{"_key":25121,"_type":173,"children":25122,"markDefs":25127,"style":182},"a0293d5c974f",[25123],{"_key":25124,"_type":177,"marks":25125,"text":25126},"eb31e457ab130",[],"Hunting PLC’s Legal Entity Identifier is 2138008S5FL78ITZRN66",[],{"_key":25129,"_type":173,"children":25130,"markDefs":25135,"style":182},"c6404ff14909",[25131],{"_key":25132,"_type":177,"marks":25133,"text":25134},"799c626e55d90",[],"This announcement contains inside information.",[],[25137],{"_key":25138,"_ref":1713,"_type":141},"59d18ed249e5",[25140],{"_key":25141,"_type":10023,"asset":25142,"title":25144},"0fea7830038d",{"_ref":25143,"_type":141},"file-680273120f2204efeb227288b08c1e6c6cf13ae4-pdf","Download 2017 Full Year Results","2018-03-01T14:13:00.000Z",{"_type":9,"current":25147},"01-03-2017",[25149,25151],{"_key":25150,"_ref":7180,"_type":141},"53276d17a0c5",{"_key":25152,"_ref":15507,"_type":141},"63c6641bc3d3","\u002Fnews\u002F01-03-2017",{"_createdAt":25155,"_id":25156,"_rev":13935,"_type":168,"_updatedAt":116,"body":25157,"categories":25427,"introText":25164,"publishedAt":25430,"slug":25431,"tags":25433,"title":25438,"url":25439},"2023-02-20T14:54:06Z","83618f46-e9a8-4d73-865b-8aec17587bef",[25158,25166,25174,25182,25190,25198,25206,25214,25222,25230,25238,25246,25254,25262,25270,25278,25286,25294,25302,25310,25318,25326,25334,25342,25350,25358,25366,25373,25385,25397,25404,25411,25419],{"_key":25159,"_type":173,"children":25160,"markDefs":25165,"style":182},"5c126540b8bc",[25161],{"_key":25162,"_type":177,"marks":25163,"text":25164},"f81e153317650",[],"Hunting PLC (LSE:HTG) is pleased to announce the appointment of John (“Jay”) Glick as non-executive Chairman of the Board with effect from 1 September 2017.",[],{"_key":25167,"_type":173,"children":25168,"markDefs":25173,"style":182},"363c8881fbc0",[25169],{"_key":25170,"_type":177,"marks":25171,"text":25172},"237d5bd6ef480",[],"Jay will succeed Richard Hunting who on the same date will step down as Chairman after 26 years, but will remain on the Board as a non-independent, non-executive Director.",[],{"_key":25175,"_type":173,"children":25176,"markDefs":25181,"style":182},"2c0cf92080e6",[25177],{"_key":25178,"_type":177,"marks":25179,"text":25180},"6a07a016bf360",[],"The succession process has been led by John Hofmeister, Hunting’s Senior Independent Director.",[],{"_key":25183,"_type":173,"children":25184,"markDefs":25189,"style":14843},"0089cdf215dc",[25185],{"_key":25186,"_type":177,"marks":25187,"text":25188},"37d7947517890",[],"Jay Glick",[],{"_key":25191,"_type":173,"children":25192,"markDefs":25197,"style":182},"a3742cde1d55",[25193],{"_key":25194,"_type":177,"marks":25195,"text":25196},"81848a94c9b10",[],"Jay was appointed as a non-executive Director on 2 February 2015 and has served on the Company’s Audit, Nomination and Remuneration Committees since his appointment to the Board.",[],{"_key":25199,"_type":173,"children":25200,"markDefs":25205,"style":182},"6477dea0b7b8",[25201],{"_key":25202,"_type":177,"marks":25203,"text":25204},"cbeec4f3dc260",[],"Prior to joining Hunting, Jay was President and Chief Executive Officer of Lufkin Industries Inc. from 2008 to 2013, when Lufkin was acquired by General Electric Company. Between 1974 and 1994 Jay held several senior management roles within Cameron International Corporation and its predecessor companies. Jay is currently a non-executive director of TETRA Technologies Inc., a NYSE listed oil services company.",[],{"_key":25207,"_type":173,"children":25208,"markDefs":25213,"style":182},"c2a8c0906acb",[25209],{"_key":25210,"_type":177,"marks":25211,"text":25212},"44166592ce810",[],"Jay is a US citizen and is resident in Houston, Texas, USA.",[],{"_key":25215,"_type":173,"children":25216,"markDefs":25221,"style":182},"e1fabaec1ed1",[25217],{"_key":25218,"_type":177,"marks":25219,"text":25220},"6114dae35aae0",[],"Mr Glick will also Chair the Board’s Nomination Committee.",[],{"_key":25223,"_type":173,"children":25224,"markDefs":25229,"style":182},"fea03b467afd",[25225],{"_key":25226,"_type":177,"marks":25227,"text":25228},"f850422633020",[],"Following consultation with the Remuneration Committee, Mr Glick’s annual fee for chairing the Company and the Nomination Committee will be £175,000, with effect from 1 September 2017.",[],{"_key":25231,"_type":173,"children":25232,"markDefs":25237,"style":14843},"58f148791dd4",[25233],{"_key":25234,"_type":177,"marks":25235,"text":25236},"5808f2b80fd30",[],"Richard Hunting C.B.E.",[],{"_key":25239,"_type":173,"children":25240,"markDefs":25245,"style":182},"6d36ea71d2e6",[25241],{"_key":25242,"_type":177,"marks":25243,"text":25244},"d419902f6e750",[],"Richard was elected an executive Director and deputy Chairman on the formation of Hunting PLC in 1989 and has been Chairman of the Board since 1991. In 2011, Richard moved from an executive to a non-executive role. The Board appreciates Richard’s service and leadership over these many years.",[],{"_key":25247,"_type":173,"children":25248,"markDefs":25253,"style":14843},"c53fbd27d94d",[25249],{"_key":25250,"_type":177,"marks":25251,"text":25252},"9779b22406a40",[],"Board Committees",[],{"_key":25255,"_type":173,"children":25256,"markDefs":25261,"style":182},"1ab521e65d5c",[25257],{"_key":25258,"_type":177,"marks":25259,"text":25260},"6fa665ff338e0",[],"Following the appointment of Mr Glick as Chairman of the Company and the Nomination Committee, Jay will step down as a member of the Audit and Remuneration Committees in line with UK governance recommendations. Mr Hunting will step down as a Chairman of the Nomination Committee and join the Audit Committee.",[],{"_key":25263,"_type":173,"children":25264,"markDefs":25269,"style":182},"1ccf1f2c8ce8",[25265],{"_key":25266,"_type":177,"marks":25267,"text":25268},"152692c5f70b0",[],"From 1 September 2017, Hunting’s Board Committee membership will be as follows:",[],{"_key":25271,"_type":173,"children":25272,"markDefs":25277,"style":182},"68d7dd888e53",[25273],{"_key":25274,"_type":177,"marks":25275,"text":25276},"a7f9d017480f0",[179],"Audit Committee",[],{"_key":25279,"_type":173,"children":25280,"markDefs":25285,"style":182},"fefefed8dd25",[25281],{"_key":25282,"_type":177,"marks":25283,"text":25284},"f0ab3fd455ef0",[],"Annell Bay\nJohn Hofmeister\nRichard Hunting\nJohn Nicholas (Committee Chairman)",[],{"_key":25287,"_type":173,"children":25288,"markDefs":25293,"style":182},"6465dbac176b",[25289],{"_key":25290,"_type":177,"marks":25291,"text":25292},"0be15286c3f10",[179],"Nomination Committee",[],{"_key":25295,"_type":173,"children":25296,"markDefs":25301,"style":182},"6c6a7b6fc238",[25297],{"_key":25298,"_type":177,"marks":25299,"text":25300},"bbf1dc2448c20",[],"Annell Bay\nJay Glick (Committee Chairman)\nJohn Hofmeister\nJohn Nicholas",[],{"_key":25303,"_type":173,"children":25304,"markDefs":25309,"style":182},"81bfd8e57833",[25305],{"_key":25306,"_type":177,"marks":25307,"text":25308},"4e721a7391380",[179],"Remuneration Committee",[],{"_key":25311,"_type":173,"children":25312,"markDefs":25317,"style":182},"8f15625b4fb2",[25313],{"_key":25314,"_type":177,"marks":25315,"text":25316},"e946ae65330c0",[],"Annell Bay\nJohn Hofmeister (Committee Chairman)\nJohn Nicholas",[],{"_key":25319,"_type":173,"children":25320,"markDefs":25325,"style":182},"3f9bf5588f28",[25321],{"_key":25322,"_type":177,"marks":25323,"text":25324},"732c0916a6ff0",[],"Commenting on the appointment, John Hofmeister, Senior Independent Director and non-executive Director of Hunting PLC, said:",[],{"_key":25327,"_type":173,"children":25328,"markDefs":25333,"style":13454},"4b2cb6d24cfe",[25329],{"_key":25330,"_type":177,"marks":25331,"text":25332},"c2b6a6ddc6b00",[216],"“The Board is delighted to announce the appointment of Jay as non-executive Chairman of Hunting. It is a key time for Hunting following the recent announcement of the appointment of Jim Johnson as the Group’s new Chief Executive. Jay’s extensive knowledge of the oil industry will ensure continued stability as the Group continues on its return to growth. We are also delighted that Richard Hunting has agreed to remain as a non-executive Director and thank him for his 45 years of continued steadfast service.”",[],{"_key":25335,"_type":173,"children":25336,"markDefs":25341,"style":182},"68f760a3e4af",[25337],{"_key":25338,"_type":177,"marks":25339,"text":25340},"b6045d0041090",[],"Richard Hunting commented:",[],{"_key":25343,"_type":173,"children":25344,"markDefs":25349,"style":13454},"ae6703c492cd",[25345],{"_key":25346,"_type":177,"marks":25347,"text":25348},"795731f406560",[216],"“With Jay’s past experience as Chief Executive Officer of an oil services company and his 43 years in the industry, he is an ideal candidate to assume the role of Chairman and assist Jim as he leads the Company through its next phase of growth.”",[],{"_key":25351,"_type":173,"children":25352,"markDefs":25357,"style":182},"b2facc6c7549",[25353],{"_key":25354,"_type":177,"marks":25355,"text":25356},"b425664835220",[],"Commenting on his appointment, Jay Glick said:",[],{"_key":25359,"_type":173,"children":25360,"markDefs":25365,"style":13454},"4de40ae7adc7",[25361],{"_key":25362,"_type":177,"marks":25363,"text":25364},"5f6b0ff319c80",[216],"“I am delighted to be appointed as Chairman of Hunting. I believe that we have an excellent management team and with our market leading technology and strong stakeholder relationships, I am very confident that we are capable of delivering successful performance and growth in the future.”",[],{"_key":25367,"_type":173,"children":25368,"markDefs":25372,"style":182},"27ab749c703f",[25369],{"_key":25370,"_type":177,"marks":25371,"text":1126},"277175b5930d0",[],[],{"_key":25374,"_type":173,"children":25375,"markDefs":25384,"style":182},"31332131d3be",[25376,25380],{"_key":25377,"_type":177,"marks":25378,"text":25379},"cd7bc084099e0",[179],"Hunting PLC Tel: +44 (0) 20 7321 0123",{"_key":25381,"_type":177,"marks":25382,"text":25383},"cd7bc084099e1",[],"\nJohn Hofmeister, Senior Independent Director\nBen Willey, Company Secretary\nTarryn Riley, Investor Relations\n",[],{"_key":25386,"_type":173,"children":25387,"markDefs":25396,"style":182},"83967d12a810",[25388,25392],{"_key":25389,"_type":177,"marks":25390,"text":25391},"053a52f4dece0",[179],"Buchanan Tel: +44 (0) 20 7466 5000",{"_key":25393,"_type":177,"marks":25394,"text":25395},"053a52f4dece1",[],"\nRichard Darby\nChris Judd\nMadeleine Seacombe",[],{"_key":25398,"_type":173,"children":25399,"markDefs":25403,"style":14843},"487b80584074",[25400],{"_key":25401,"_type":177,"marks":25402,"text":10958},"50dfd86221690",[],[],{"_key":25405,"_type":173,"children":25406,"markDefs":25410,"style":182},"8720de046a73",[25407],{"_key":25408,"_type":177,"marks":25409,"text":12234},"c365a957b5770",[],[],{"_key":25412,"_type":173,"children":25413,"markDefs":25418,"style":182},"fce697b6d698",[25414],{"_key":25415,"_type":177,"marks":25416,"text":25417},"23baa5ce5fc30",[],"Hunting PLC is an international energy services provider to the world's leading upstream oil and gas companies. Established in 1874, it is a premium listed public company traded on the London Stock Exchange. The Company maintains a corporate office in Houston and is headquartered in London. 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Mr Johnson will assume his responsibilities on 1 September 2017, with Mr Proctor retiring and stepping down from the Board on the same date.",[],{"_key":25639,"_type":173,"children":25640,"markDefs":25645,"style":182},"765e2a9a27dc",[25641],{"_key":25642,"_type":177,"marks":25643,"text":25644},"d888b4a7618a0",[179],"Commenting on the results Dennis Proctor, Chief Executive, said:",[],{"_key":25647,"_type":173,"children":25648,"markDefs":25653,"style":13454},"8ef130875ba1",[25649],{"_key":25650,"_type":177,"marks":25651,"text":25652},"906e0d3bfb630",[216],"“We are pleased to report a positive EBITDA, indicating profitability within certain businesses. Results from Hunting’s Perforating Systems business have exceeded management’s expectations by some margin, thanks to the buoyant US onshore drilling market and a portfolio of industry leading products, which enables cost efficiencies to be captured by operators.",[],{"_key":25655,"_type":173,"children":25656,"markDefs":25661,"style":13454},"1081165d4143",[25657],{"_key":25658,"_type":177,"marks":25659,"text":25660},"6e53918e8cc20",[216],"“International drilling activity is now anticipating modest improvements during H2 2017 which provide cautious optimism about the Group’s performance in the final months of the year. 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The Report can also be accessed at",{"_key":25728,"_type":177,"marks":25729,"text":15101},"7851378f978a1",[],{"_key":25731,"_type":177,"marks":25732,"text":2296},"7851378f978a2",[25733,216],"848e60985db9",{"_key":25735,"_type":177,"marks":25736,"text":3208},"7851378f978a3",[216],[25738],{"_key":25733,"_type":138,"href":2303},{"_key":25740,"_type":173,"children":25741,"markDefs":25745,"style":182},"d029e3cf030b",[25742],{"_key":25743,"_type":177,"marks":25744,"text":1064},"c6edebaf86a00",[179],[],{"_key":25747,"_type":173,"children":25748,"markDefs":25753,"style":182},"b8d8919adcc9",[25749],{"_key":25750,"_type":177,"marks":25751,"text":25752},"0ba17f4ca52b0",[],"Hunting PLC will host an analyst briefing on Thursday 24 August 2017 at 10.30am at the offices of Buchanan, 107 Cheapside, London, EC2V 6DN.",[],{"_key":25755,"_type":173,"children":25756,"markDefs":25760,"style":182},"a911cf541508",[25757],{"_key":25758,"_type":177,"marks":25759,"text":23909},"931b3eeab3f20",[],[],{"_key":25762,"_type":173,"children":25763,"markDefs":25769,"style":182},"6466ae24a3b7",[25764],{"_key":25765,"_type":177,"marks":25766,"text":25768},"3ee7922fc7a20",[25767],"c2510b8cacec","http:\u002F\u002Fvm.buchanan.uk.com\u002F2017\u002Fhunting240817\u002Fregistration.htm",[25770],{"_key":25767,"_type":138,"href":25768},{"_key":25772,"_type":173,"children":25773,"markDefs":25777,"style":182},"fcdd49a10ac8",[25774],{"_key":25775,"_type":177,"marks":25776,"text":5318},"aff70159f7310",[],[],{"_key":25779,"_type":173,"children":25780,"markDefs":25785,"style":182},"f7c4b4c8c16c",[25781],{"_key":25782,"_type":177,"marks":25783,"text":25784},"34dff7b384fb0",[],"Hunting PLC\nDennis Proctor, Chief Executive\nPeter Rose, Finance Director\nTarryn Riley, Investor Relations Tel: +44 (0) 20 7321 0123",[],{"_key":25787,"_type":173,"children":25788,"markDefs":25793,"style":182},"b9edff62eecf",[25789],{"_key":25790,"_type":177,"marks":25791,"text":25792},"fb3a476de2c50",[],"Tel: +44 (0) 20 7466 5000Buchanan\nRichard Darby\nChris Judd\nMadeleine Seacombe",[],{"_key":25795,"_type":173,"children":25796,"markDefs":25800,"style":14843},"ada5cd2e149f",[25797],{"_key":25798,"_type":177,"marks":25799,"text":10958},"c3b8e74b664f0",[],[],{"_key":25802,"_type":173,"children":25803,"markDefs":25807,"style":182},"3dfe3abe6f23",[25804],{"_key":25805,"_type":177,"marks":25806,"text":1256},"131941502ab60",[179],[],{"_key":25809,"_type":173,"children":25810,"markDefs":25815,"style":182},"458ef8fe8d4c",[25811],{"_key":25812,"_type":177,"marks":25813,"text":25814},"5f5cecfc03c40",[],"Hunting PLC is an international energy services provider to the world's leading upstream oil and gas companies. Established in 1874, it is a premium listed public company traded on the London Stock Exchange. The Company maintains a corporate office in Houston and is headquartered in London. As well as the United Kingdom, the Company has principal operations in Canada, China, Indonesia, Mexico, Netherlands, Saudi Arabia, Singapore, South Africa, United Arab Emirates and the United States of America.",[],{"_key":25817,"_type":173,"children":25818,"markDefs":25822,"style":182},"4549506c9dcd",[25819],{"_key":25820,"_type":177,"marks":25821,"text":1309},"6732e4d155770",[],[],{"_key":25824,"_type":173,"children":25825,"markDefs":25830,"style":182},"d790867a61aa",[25826],{"_key":25827,"_type":177,"marks":25828,"text":25829},"d64327ee38700",[],"This announcement, with accompanying attachments, is deemed to contain inside information.",[],[25832],{"_key":25833,"_ref":1713,"_type":141},"4a7567030753",[25835],{"_key":25836,"_type":10023,"asset":25837,"title":15497},"17ff973b69f1",{"_ref":25838,"_type":141},"file-0f53b48673eb538e61277d2b33a271215b979be2-pdf","2017-08-24T13:54:00.000Z",{"_type":9,"current":25841},"24-08-2017",[25843,25845],{"_key":25844,"_ref":7180,"_type":141},"91096bec6e52",{"_key":25846,"_ref":15507,"_type":141},"8f3dedf5cedf","\u002Fnews\u002F24-08-2017",{"_createdAt":25849,"_id":25850,"_rev":13912,"_type":168,"_updatedAt":116,"body":25851,"categories":26004,"introText":26007,"publishedAt":26008,"slug":26009,"tags":26011,"title":26016,"url":26017},"2023-02-20T14:57:36Z","cabc357b-05ea-4241-9e16-e8e60eaac36e",[25852,25860,25868,25876,25884,25892,25900,25908,25916,25924,25932,25940,25948,25955,25966,25976,25983,25990,25997],{"_key":25853,"_type":173,"children":25854,"markDefs":25859,"style":182},"0646a4aface2",[25855],{"_key":25856,"_type":177,"marks":25857,"text":25858},"e02c291750240",[],"Hunting PLC (LSE:HTG) is pleased to announce the promotion and appointment of Arthur James (“Jim”) Johnson as Chief Executive with effect from 1 September 2017. Jim will succeed Dennis Proctor who will retire as Chief Executive and as a Director of Hunting on the same date.",[],{"_key":25861,"_type":173,"children":25862,"markDefs":25867,"style":182},"bb23091742b3",[25863],{"_key":25864,"_type":177,"marks":25865,"text":25866},"bee537b961720",[],"Jim joined Hunting in 1992 and is currently the Group’s Chief Operating Officer, a role which he has occupied since 2011. As part of his responsibilities, he has managed the day-to-day running of Hunting’s global operations, with regional managers in Africa, Asia Pacific, Europe, Middle East and North America reporting directly to him on all matters.",[],{"_key":25869,"_type":173,"children":25870,"markDefs":25875,"style":182},"cb918dd3eb77",[25871],{"_key":25872,"_type":177,"marks":25873,"text":25874},"5d4c12f9b9f00",[],"Jim has held a number of senior positions within Hunting and between 2000 to 2011 he held the position of Managing Director of US operations. During this time, he was instrumental in the development of Hunting’s product offering and service capabilities.",[],{"_key":25877,"_type":173,"children":25878,"markDefs":25883,"style":182},"5fac78aaae8c",[25879],{"_key":25880,"_type":177,"marks":25881,"text":25882},"c1f4e6befb8a0",[],"Jim is a US citizen, and will be based in Houston, Texas, USA.",[],{"_key":25885,"_type":173,"children":25886,"markDefs":25891,"style":182},"949c31e6c26b",[25887],{"_key":25888,"_type":177,"marks":25889,"text":25890},"44b75065f09e0",[],"Commenting on the appointment, Richard Hunting Chairman of Hunting PLC, said:",[],{"_key":25893,"_type":173,"children":25894,"markDefs":25899,"style":13454},"3b8ef9daa1d5",[25895],{"_key":25896,"_type":177,"marks":25897,"text":25898},"350da3b8f3c60",[216],"“We are delighted to appoint Jim as Chief Executive of Hunting. His unique knowledge of the Group’s global operations, close relationships with our key customers and commitment to Hunting over many years made him the ideal candidate to take the Company forward.”",[],{"_key":25901,"_type":173,"children":25902,"markDefs":25907,"style":13454},"c6548c4a5cce",[25903],{"_key":25904,"_type":177,"marks":25905,"text":25906},"7a471992fd490",[216],"“The Nomination Committee considered internal and external candidates from the global energy manufacturing and service industries and firmly believes that the right choice has been made in what has been a thorough process.”",[],{"_key":25909,"_type":173,"children":25910,"markDefs":25915,"style":13454},"87a272772ded",[25911],{"_key":25912,"_type":177,"marks":25913,"text":25914},"b3bda052b7150",[],"Further, Jim Johnson, Chief Executive designate, said:",[],{"_key":25917,"_type":173,"children":25918,"markDefs":25923,"style":13454},"35fedca27d4b",[25919],{"_key":25920,"_type":177,"marks":25921,"text":25922},"e405154bf18a0",[216],"“Hunting is a fantastic Company with excellent products, a highly skilled and loyal workforce and a strong reputation of quality and service within the energy industry. I look forward to the challenge of taking the Group through its next phase of growth, building on the foundation laid by Dennis over many years.”",[],{"_key":25925,"_type":173,"children":25926,"markDefs":25931,"style":182},"aa2e962900a9",[25927],{"_key":25928,"_type":177,"marks":25929,"text":25930},"dd45607eebad0",[],"There are no disclosures required under Listing Rule 9.6.13 of the Listing Rules of the Financial Conduct Authority.",[],{"_key":25933,"_type":173,"children":25934,"markDefs":25939,"style":182},"a9cedf4808d1",[25935],{"_key":25936,"_type":177,"marks":25937,"text":25938},"d181641488180",[],"The Group’s Interim Results for the six months ended 30 June 2017 remain scheduled for release on Thursday 24 August 2017.",[],{"_key":25941,"_type":173,"children":25942,"markDefs":25947,"style":182},"e4dfed237fd2",[25943],{"_key":25944,"_type":177,"marks":25945,"text":25946},"2b9331bf70290",[],"This announcement contains inside information. The person responsible for arranging the release of this announcement on behalf of the Company is Ben Willey, Company Secretary.",[],{"_key":25949,"_type":173,"children":25950,"markDefs":25954,"style":182},"e65712efb340",[25951],{"_key":25952,"_type":177,"marks":25953,"text":5318},"13f952dded380",[],[],{"_key":25956,"_type":173,"children":25957,"markDefs":25965,"style":182},"6edd8e76441d",[25958,25961],{"_key":25959,"_type":177,"marks":25960,"text":25379},"fbce8aedcb0a0",[179],{"_key":25962,"_type":177,"marks":25963,"text":25964},"fbce8aedcb0a1",[],"\nRichard Hunting, Chairman\nBen Willey, Company Secretary\nTarryn Riley, Investor Relations\n",[],{"_key":25967,"_type":173,"children":25968,"markDefs":25975,"style":182},"7ceaf1e03eda",[25969,25972],{"_key":25970,"_type":177,"marks":25971,"text":25391},"81946580158f0",[179],{"_key":25973,"_type":177,"marks":25974,"text":25395},"81946580158f1",[],[],{"_key":25977,"_type":173,"children":25978,"markDefs":25982,"style":182},"071a943afd79",[25979],{"_key":25980,"_type":177,"marks":25981,"text":10958},"33f703d879830",[179],[],{"_key":25984,"_type":173,"children":25985,"markDefs":25989,"style":182},"0a6788152d12",[25986],{"_key":25987,"_type":177,"marks":25988,"text":1256},"5343f972bc9b0",[],[],{"_key":25991,"_type":173,"children":25992,"markDefs":25996,"style":182},"8455bad098f0",[25993],{"_key":25994,"_type":177,"marks":25995,"text":25417},"c5871f95056d0",[],[],{"_key":25998,"_type":173,"children":25999,"markDefs":26003,"style":182},"89a8508dbe9a",[26000],{"_key":26001,"_type":177,"marks":26002,"text":25425},"b3acc8973a730",[],[],[26005],{"_key":26006,"_ref":1713,"_type":141},"ea83f36e0a02","Hunting PLC (LSE:HTG) is pleased to announce the promotion and appointment of Arthur James (“Jim”) Johnson as Chief Executive with effect from 1 September 2017.","2017-08-16T13:56:00.000Z",{"_type":9,"current":26010},"16-08-2017",[26012,26014],{"_key":26013,"_ref":7180,"_type":141},"161f71d94b9f",{"_key":26015,"_ref":16463,"_type":141},"be473f1a6672","Appointment of Chief Executive","\u002Fnews\u002F16-08-2017",{"_createdAt":26019,"_id":26020,"_rev":13912,"_type":168,"_updatedAt":116,"body":26021,"categories":26119,"introText":26028,"publishedAt":26122,"slug":26123,"tags":26125,"title":26128,"url":26129},"2023-02-20T14:59:07Z","c1ac1976-fcbf-44ef-aa34-6969fc067b80",[26022,26030,26038,26046,26054,26061,26068,26079,26090,26097,26104,26112],{"_key":26023,"_type":173,"children":26024,"markDefs":26029,"style":182},"8b898f4506bd",[26025],{"_key":26026,"_type":177,"marks":26027,"text":26028},"d2d7858da2140",[],"As part of Hunting's longer term succession planning, Dennis Proctor has agreed with the Board that he will retire as Chief Executive and step down as a Director of the Company in 2017 when a suitable successor has been appointed.",[],{"_key":26031,"_type":173,"children":26032,"markDefs":26037,"style":182},"8cfece3fa311",[26033],{"_key":26034,"_type":177,"marks":26035,"text":26036},"80b3cc45ebfd0",[],"Hunting's Nomination Committee has begun a process to identify a successor with both internal and external candidates being considered. Mr Proctor will remain as Chief Executive until the appointment is made and an appropriate handover period has taken place.",[],{"_key":26039,"_type":173,"children":26040,"markDefs":26045,"style":182},"f8c12f39d5ed",[26041],{"_key":26042,"_type":177,"marks":26043,"text":26044},"60fe65780c0c0",[],"Richard Hunting, Chairman of Hunting, said:",[],{"_key":26047,"_type":173,"children":26048,"markDefs":26053,"style":13454},"55936579280a",[26049],{"_key":26050,"_type":177,"marks":26051,"text":26052},"673a39e000380",[216],"\"Over the past sixteen years, Dennis has led Hunting to achieve a wide range of business successes including shareholder value creation, strategy and portfolio simplification, excellence in quality and expansion of manufacturing capacity across the globe, positioning the Company for sustained growth in future business cycles. His consistency in delivering higher levels of performance and his personal commitment has allowed shareholders, customers, suppliers and especially Hunting staff and managers to benefit from his leadership of the Company through these years. We have now begun the process of identifying a new Chief Executive who will continue with the strategy of growth and delivering shareholder value.\"",[],{"_key":26055,"_type":173,"children":26056,"markDefs":26060,"style":182},"8932f2990660",[26057],{"_key":26058,"_type":177,"marks":26059,"text":25946},"dce77ff499e00",[],[],{"_key":26062,"_type":173,"children":26063,"markDefs":26067,"style":182},"4ca26dccac9a",[26064],{"_key":26065,"_type":177,"marks":26066,"text":5318},"11c34dd9bb010",[],[],{"_key":26069,"_type":173,"children":26070,"markDefs":26078,"style":182},"4671d06c2965",[26071,26074],{"_key":26072,"_type":177,"marks":26073,"text":1134},"82c730e4196c0",[179],{"_key":26075,"_type":177,"marks":26076,"text":26077},"82c730e4196c1",[],"\nRichard Hunting - Chairman\nBen Willey - Company Secretary Tel: +44 (0) 20 7321 0123\n",[],{"_key":26080,"_type":173,"children":26081,"markDefs":26089,"style":182},"bc06d4a1e2c4",[26082,26085],{"_key":26083,"_type":177,"marks":26084,"text":8934},"e8caf67e5fb40",[179],{"_key":26086,"_type":177,"marks":26087,"text":26088},"e8caf67e5fb41",[],"\nRichard Darby Tel: +44 (0) 20 7466 5000\nMadeleine Seacombe",[],{"_key":26091,"_type":173,"children":26092,"markDefs":26096,"style":14843},"6c714baaf599",[26093],{"_key":26094,"_type":177,"marks":26095,"text":10958},"773dc536675d0",[],[],{"_key":26098,"_type":173,"children":26099,"markDefs":26103,"style":182},"d287d539c463",[26100],{"_key":26101,"_type":177,"marks":26102,"text":1256},"abe5177ebd040",[],[],{"_key":26105,"_type":173,"children":26106,"markDefs":26111,"style":182},"9357ba1625b9",[26107],{"_key":26108,"_type":177,"marks":26109,"text":26110},"2b817cd581970",[],"Hunting PLC is an international energy services provider to the world's leading upstream oil and gas companies. Established in 1874, it is a premium listed public company traded on the London Stock Exchange. The Company maintains a corporate office in Houston and is headquartered in London. As well as the United Kingdom, the Company has operations in Canada, China, Indonesia, Kenya, Mexico, Netherlands, Norway, Saudi Arabia, Singapore, South Africa, United Arab Emirates and the United States of America.",[],{"_key":26113,"_type":173,"children":26114,"markDefs":26118,"style":182},"bb7c40840842",[26115],{"_key":26116,"_type":177,"marks":26117,"text":25425},"ebddbfe3f9150",[],[],[26120],{"_key":26121,"_ref":1713,"_type":141},"ab9acbf9f6a0","2017-04-07T13:58:00.000Z",{"_type":9,"current":26124},"10-04-2017",[26126],{"_key":26127,"_ref":7180,"_type":141},"b8ece0efad84","Retirement of Dennis Proctor as Chief Executive","\u002Fnews\u002F10-04-2017",{"_createdAt":26131,"_id":26132,"_rev":7809,"_type":168,"_updatedAt":116,"body":26133,"categories":26636,"downloads":26639,"introText":26140,"publishedAt":26644,"slug":26645,"tags":26647,"title":19559,"url":26652},"2023-02-20T15:04:03Z","60f762c9-b9d1-4eca-90ac-723e641e7102",[26134,26142,26149,26157,26165,26173,26181,26189,26197,26205,26212,26220,26228,26236,26244,26252,26260,26268,26276,26284,26292,26300,26308,26316,26324,26332,26340,26348,26356,26364,26372,26380,26388,26396,26404,26411,26419,26427,26435,26443,26451,26462,26469,26477,26488,26495,26503,26514,26525,26532,26548,26556,26563,26571,26578,26588,26595,26606,26614,26621,26628],{"_key":26135,"_type":173,"children":26136,"markDefs":26141,"style":182},"b1facada4b78",[26137],{"_key":26138,"_type":177,"marks":26139,"text":26140},"ad032d3df8900",[],"Hunting PLC (LSE:HTG), the international energy services group, today announces its results for the year ended 31 December 2016.",[],{"_key":26143,"_type":173,"children":26144,"markDefs":26148,"style":14843},"0d6c946ba332",[26145],{"_key":26146,"_type":177,"marks":26147,"text":24678},"109965459b330",[],[],{"_key":26150,"_type":173,"children":26151,"level":955,"listItem":2555,"markDefs":26156,"style":182},"506b78dc16c5",[26152],{"_key":26153,"_type":177,"marks":26154,"text":26155},"85df15594f6d0",[],"Revenue $455.8m (2015 - $810.5m)",[],{"_key":26158,"_type":173,"children":26159,"level":955,"listItem":2555,"markDefs":26164,"style":182},"afa98f248e8c",[26160],{"_key":26161,"_type":177,"marks":26162,"text":26163},"a01c160e3f280",[],"Underlying EBITDA $48.9m loss (2015 - $61.9m profit)",[],{"_key":26166,"_type":173,"children":26167,"level":955,"listItem":2555,"markDefs":26172,"style":182},"aa2cf483dabb",[26168],{"_key":26169,"_type":177,"marks":26170,"text":26171},"7cc3b5fb68600",[],"Underlying loss from operations of $92.2m (2015 - $16.4m profit)",[],{"_key":26174,"_type":173,"children":26175,"level":955,"listItem":2555,"markDefs":26180,"style":182},"9ce415b160f1",[26176],{"_key":26177,"_type":177,"marks":26178,"text":26179},"987fe79cc4780",[],"Reported loss from operations of $140.7m (2015 - $282.2m loss)",[],{"_key":26182,"_type":173,"children":26183,"level":955,"listItem":2555,"markDefs":26188,"style":182},"c614effb7866",[26184],{"_key":26185,"_type":177,"marks":26186,"text":26187},"c3f31a23ccf80",[],"Underlying diluted loss per share 45.3 cents (2015 - 3.1 cents earnings per share)",[],{"_key":26190,"_type":173,"children":26191,"level":955,"listItem":2555,"markDefs":26196,"style":182},"472d114ff9bc",[26192],{"_key":26193,"_type":177,"marks":26194,"text":26195},"3078b2ecf7e60",[],"Reported diluted loss per share 76.8 cents (2015 - 156.1 cents loss per share)",[],{"_key":26198,"_type":173,"children":26199,"level":955,"listItem":2555,"markDefs":26204,"style":182},"4e2d0e3f64f9",[26200],{"_key":26201,"_type":177,"marks":26202,"text":26203},"9961c463cb7d0",[],"Net debt of $1.9m (31 December 2015 - $110.5m)",[],{"_key":26206,"_type":173,"children":26207,"markDefs":26211,"style":182},"11e65183ef75",[26208],{"_key":26209,"_type":177,"marks":26210,"text":24742},"55fbd0247e530",[216],[],{"_key":26213,"_type":173,"children":26214,"markDefs":26219,"style":14843},"1847c499f835",[26215],{"_key":26216,"_type":177,"marks":26217,"text":26218},"948f3a2318ef0",[],"Operational and Financial Summary",[],{"_key":26221,"_type":173,"children":26222,"level":955,"listItem":2555,"markDefs":26227,"style":182},"eb4e57d85796",[26223],{"_key":26224,"_type":177,"marks":26225,"text":26226},"47e1fd0f7ceb0",[],"New product lines continue to be developed and rolled out to customers to lower their operational costs and increase project efficiencies including:",[],{"_key":26229,"_type":173,"children":26230,"level":3751,"listItem":2555,"markDefs":26235,"style":182},"9cd863d20925",[26231],{"_key":26232,"_type":177,"marks":26233,"text":26234},"3eb6856781660",[],"further commercialisation of the H-1 Perforating System, which is now being used by major oil companies in the US;",[],{"_key":26237,"_type":173,"children":26238,"level":3751,"listItem":2555,"markDefs":26243,"style":182},"3cd377c4b5cf",[26239],{"_key":26240,"_type":177,"marks":26241,"text":26242},"fee7a66e6b1c0",[],"broadening of the WEDGE-LOCK™ premium connection family to include 14” and 16” variants for commercialisation in 2017; and",[],{"_key":26245,"_type":173,"children":26246,"level":3751,"listItem":2555,"markDefs":26251,"style":182},"026d55eb9021",[26247],{"_key":26248,"_type":177,"marks":26249,"text":26250},"6c444f35125c0",[],"introduction of the EQUAfrac™ charge, providing uniform hole technology in the wellbore.",[],{"_key":26253,"_type":173,"children":26254,"level":955,"listItem":2555,"markDefs":26259,"style":182},"2cc34f6bec15",[26255],{"_key":26256,"_type":177,"marks":26257,"text":26258},"6205b9cf4e770",[],"Focus on debt reduction with initiatives including:",[],{"_key":26261,"_type":173,"children":26262,"level":3751,"listItem":2555,"markDefs":26267,"style":182},"0ffb4cf696b2",[26263],{"_key":26264,"_type":177,"marks":26265,"text":26266},"779cf705f99c0",[],"$61.7m reduction in inventories since 31 December 2015;",[],{"_key":26269,"_type":173,"children":26270,"level":3751,"listItem":2555,"markDefs":26275,"style":182},"9f85752f6de0",[26271],{"_key":26272,"_type":177,"marks":26273,"text":26274},"a49d38cc984a0",[],"$31.3m received in net tax refunds; 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and",[],{"_key":26349,"_type":173,"children":26350,"level":3751,"listItem":2555,"markDefs":26355,"style":182},"c6c197a3782e",[26351],{"_key":26352,"_type":177,"marks":26353,"text":26354},"3825707261330",[],"no dividend payments until the end of the suspension period.",[],{"_key":26357,"_type":173,"children":26358,"level":955,"listItem":2555,"markDefs":26363,"style":182},"e1f845196881",[26359],{"_key":26360,"_type":177,"marks":26361,"text":26362},"a30da994b4000",[],"Placing of 14.6m new Ordinary shares raising $83.9m net of transaction expenses completed:",[],{"_key":26365,"_type":173,"children":26366,"level":3751,"listItem":2555,"markDefs":26371,"style":182},"514f6cee6dd1",[26367],{"_key":26368,"_type":177,"marks":26369,"text":26370},"fe753e9b63130",[],"proceeds used to reduce borrowings and increase financial flexibility; and",[],{"_key":26373,"_type":173,"children":26374,"level":3751,"listItem":2555,"markDefs":26379,"style":182},"a99bd1381b61",[26375],{"_key":26376,"_type":177,"marks":26377,"text":26378},"aca71b593ec10",[],"placing price of 485.0 pence per share.",[],{"_key":26381,"_type":173,"children":26382,"level":955,"listItem":2555,"markDefs":26387,"style":182},"415e806f0bc0",[26383],{"_key":26384,"_type":177,"marks":26385,"text":26386},"6b0823afa2370",[],"Facility expansion programme now completed:",[],{"_key":26389,"_type":173,"children":26390,"level":3751,"listItem":2555,"markDefs":26395,"style":182},"d2b81a03dc66",[26391],{"_key":26392,"_type":177,"marks":26393,"text":26394},"c24bf30445e10",[],"commissioning of Ameriport, US, facility in the year; 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While this is positive news for the industry, Hunting is still focused on cost controls and aligning its operations with the short-term outlook. US onshore activity levels are increasing, providing better trading for businesses such as Hunting Perforating Systems, while the international picture remains subdued.”",[],{"_key":26428,"_type":173,"children":26429,"markDefs":26434,"style":13454},"12df6e530538",[26430],{"_key":26431,"_type":177,"marks":26432,"text":26433},"4ba79d482f490",[216],"“For the Group as a whole, operating losses have been incurred during the opening months of 2017, however, management anticipate moving back to monthly profitability later in the year, subject to a continuing recovery across the whole market.”",[],{"_key":26436,"_type":173,"children":26437,"markDefs":26442,"style":182},"c5a9b8c4f2d8",[26438],{"_key":26439,"_type":177,"marks":26440,"text":26441},"98c7bacdbf040",[179],"Group Performance and Development",[],{"_key":26444,"_type":173,"children":26445,"markDefs":26450,"style":182},"1e43eb2d9df1",[26446],{"_key":26447,"_type":177,"marks":26448,"text":26449},"c418f9f3422b0",[],"For access to narrative on the Group’s results (incorporating the Chairman’s and Chief Executive’s Statements, Outlook, Market Review, Group Performance and Development, and Funding and Position at year end) for the year ended 31 December 2016 please click on the following link.",[],{"_key":26452,"_type":173,"children":26453,"markDefs":26459,"style":182},"443610d7ed29",[26454],{"_key":26455,"_type":177,"marks":26456,"text":26458},"acb455364a1c0",[26457],"cc12a1f4ddaf","Attachment 1",[26460],{"_key":26457,"_type":138,"href":26461},"https:\u002F\u002Fwww.huntingplc.com\u002F~\u002Fmedia\u002FFiles\u002FH\u002FHunting-PLC\u002Fpdf\u002Freports-and-presentations\u002F2016\u002Ffy-2016-attachment-1.pdf",{"_key":26463,"_type":173,"children":26464,"markDefs":26468,"style":182},"fb717652f631",[26465],{"_key":26466,"_type":177,"marks":26467,"text":1017},"acfca5a0f2cc0",[179],[],{"_key":26470,"_type":173,"children":26471,"markDefs":26476,"style":182},"668bba814f74",[26472],{"_key":26473,"_type":177,"marks":26474,"text":26475},"28e710ca0c370",[],"For access to the Financial Statements and Notes to the Accounts for the year ended 31 December 2016 please click on the following link.",[],{"_key":26478,"_type":173,"children":26479,"markDefs":26485,"style":182},"9214c45f8fc0",[26480],{"_key":26481,"_type":177,"marks":26482,"text":26484},"bb326af23c180",[26483],"4f59efcdfc7f","Attachment 2",[26486],{"_key":26483,"_type":138,"href":26487},"https:\u002F\u002Fwww.huntingplc.com\u002F~\u002Fmedia\u002FFiles\u002FH\u002FHunting-PLC\u002Fpdf\u002Freports-and-presentations\u002F2016\u002Ffy-2016-attachment-2.pdf",{"_key":26489,"_type":173,"children":26490,"markDefs":26494,"style":182},"e9587433366c",[26491],{"_key":26492,"_type":177,"marks":26493,"text":3159},"73f6e118ba290",[179],[],{"_key":26496,"_type":173,"children":26497,"markDefs":26502,"style":182},"1f6e77f18900",[26498],{"_key":26499,"_type":177,"marks":26500,"text":26501},"f0e2ea6b67000",[],"For access to Hunting’s Business Model and Strategy, Risk Management (including Principal Risks) and Key Performance Indicators information and the Statement of the Directors’ Responsibilities for the year ended 31 December 2016 please click on the following links.",[],{"_key":26504,"_type":173,"children":26505,"markDefs":26511,"style":182},"8d1188230516",[26506],{"_key":26507,"_type":177,"marks":26508,"text":26510},"4404ceab4d2b0",[26509],"160d6b8f6598","Attachment 3",[26512],{"_key":26509,"_type":138,"href":26513},"https:\u002F\u002Fwww.huntingplc.com\u002F~\u002Fmedia\u002FFiles\u002FH\u002FHunting-PLC\u002Fpdf\u002Freports-and-presentations\u002F2016\u002Ffy-2016-attachment-3.pdf",{"_key":26515,"_type":173,"children":26516,"markDefs":26522,"style":182},"424039887abb",[26517],{"_key":26518,"_type":177,"marks":26519,"text":26521},"486c262d22750",[26520],"932d57c61e86","Attachment 4",[26523],{"_key":26520,"_type":138,"href":26524},"https:\u002F\u002Fwww.huntingplc.com\u002F~\u002Fmedia\u002FFiles\u002FH\u002FHunting-PLC\u002Fpdf\u002Freports-and-presentations\u002F2016\u002Ffy-2016-attachment-4.pdf",{"_key":26526,"_type":173,"children":26527,"markDefs":26531,"style":182},"26a3b8b81fa2",[26528],{"_key":26529,"_type":177,"marks":26530,"text":3192},"5fc58eb9de720",[],[],{"_key":26533,"_type":173,"children":26534,"markDefs":26546,"style":182},"183ad4693abb",[26535,26539,26543],{"_key":26536,"_type":177,"marks":26537,"text":26538},"192d80c3b6060",[],"The linked documents provide access to all major financial and operational disclosures contained in the Group’s 2016 Annual Report and Accounts. The complete 2016 Annual Report and Accounts will be published on 13 March 2017 and can then be accessed at ",{"_key":26540,"_type":177,"marks":26541,"text":2296},"192d80c3b6061",[26542],"509cf192bf37",{"_key":26544,"_type":177,"marks":26545,"text":3208},"192d80c3b6062",[],[26547],{"_key":26542,"_type":138,"href":2303},{"_key":26549,"_type":173,"children":26550,"markDefs":26555,"style":182},"0cb2fbe28c40",[26551],{"_key":26552,"_type":177,"marks":26553,"text":26554},"9215fa4637270",[],"The financial information set out in the above links does not constitute the Company’s statutory accounts for the years ended 31 December 2016 or 31 December 2015, but is extracted from those accounts. Statutory accounts for 2015 have been delivered to the Registrar of Companies and those for 2016 will be delivered in due course. The auditors have reported on those accounts; their reports were unqualified, did not draw attention to any matter by way of emphasis without qualifying their report and did not contain statements under S498(2) or (3) of the Companies Act 2006. Whilst the financial information included in this preliminary announcement has been computed in accordance with International Financial Reporting Standards, this announcement does not itself contain sufficient information to comply with IFRS.",[],{"_key":26557,"_type":173,"children":26558,"markDefs":26562,"style":182},"f370d77e79e5",[26559],{"_key":26560,"_type":177,"marks":26561,"text":1064},"7dc9ae9e6c310",[179],[],{"_key":26564,"_type":173,"children":26565,"markDefs":26570,"style":182},"fe67fa2e5379",[26566],{"_key":26567,"_type":177,"marks":26568,"text":26569},"28ca1fa45f530",[],"Hunting PLC will host an analyst briefing on Thursday 2 March 2017 at 10.30a.m. at the offices of Buchanan, 107 Cheapside, London, EC2V 6DN.",[],{"_key":26572,"_type":173,"children":26573,"markDefs":26577,"style":182},"7d5ed93e8514",[26574],{"_key":26575,"_type":177,"marks":26576,"text":23909},"1d5dec39462c0",[],[],{"_key":26579,"_type":173,"children":26580,"markDefs":26586,"style":182},"e1d04bb4076b",[26581],{"_key":26582,"_type":177,"marks":26583,"text":26585},"29b7c664649e0",[26584],"41ee3c0824e3","http:\u002F\u002Fvm.buchanan.uk.com\u002F2017\u002Fhunting020317\u002Fregistration.htm",[26587],{"_key":26584,"_type":138,"href":26585},{"_key":26589,"_type":173,"children":26590,"markDefs":26594,"style":182},"0c12aad8f9cd",[26591],{"_key":26592,"_type":177,"marks":26593,"text":5318},"669bc259528d0",[],[],{"_key":26596,"_type":173,"children":26597,"markDefs":26605,"style":182},"a6612697ce41",[26598,26601],{"_key":26599,"_type":177,"marks":26600,"text":1134},"923243cd26190",[179],{"_key":26602,"_type":177,"marks":26603,"text":26604},"923243cd26191",[],"\nDennis Proctor, Chief Executive\nPeter Rose, Finance Director\nTarryn Riley, Investor Relations Tel: +44 (0) 20 7321 0123",[],{"_key":26607,"_type":173,"children":26608,"markDefs":26613,"style":182},"40e993dd0d94",[26609],{"_key":26610,"_type":177,"marks":26611,"text":26612},"9137551a741d0",[],"Tel: +44 (0) 20 7466 5000Buchanan\nRichard Darby\nMadeleine Seacombe",[],{"_key":26615,"_type":173,"children":26616,"markDefs":26620,"style":14843},"353d3b09e1c2",[26617],{"_key":26618,"_type":177,"marks":26619,"text":10958},"2a685aecb3090",[],[],{"_key":26622,"_type":173,"children":26623,"markDefs":26627,"style":182},"af7deff59865",[26624],{"_key":26625,"_type":177,"marks":26626,"text":12234},"470d489b3d040",[],[],{"_key":26629,"_type":173,"children":26630,"markDefs":26635,"style":182},"eaa47da96332",[26631],{"_key":26632,"_type":177,"marks":26633,"text":26634},"3cdc8dbc01180",[],"Hunting PLC is an international energy services provider to the world's leading upstream oil and gas companies. Established in 1874, it is a premium listed public company traded on the London Stock Exchange. The Company maintains a corporate office in Houston and is headquartered in London. As well as the United Kingdom, the Company has operations in Canada, China, Indonesia, Kenya, Mexico,\nNetherlands, Norway, Saudi Arabia, Singapore, South Africa, United Arab Emirates and the United States of America.",[],[26637],{"_key":26638,"_ref":1713,"_type":141},"f59a7a99582b",[26640],{"_key":26641,"_type":10023,"asset":26642,"title":15497},"0b4ec45fe580",{"_ref":26643,"_type":141},"file-c921f0a551766c62b6efae51d6c1fc1176ce730b-pdf","2017-03-02T14:59:00.000Z",{"_type":9,"current":26646},"02-03-2017",[26648,26650],{"_key":26649,"_ref":7180,"_type":141},"3a5a661f9c1d",{"_key":26651,"_ref":15507,"_type":141},"b8ff1666feab","\u002Fnews\u002F02-03-2017",{"_createdAt":26654,"_id":26655,"_rev":12607,"_type":168,"_updatedAt":116,"body":26656,"categories":27027,"downloads":27030,"introText":26678,"publishedAt":27036,"slug":27037,"tags":27039,"title":20065,"url":27044},"2023-02-20T15:09:21Z","bfe4375f-267c-4687-8302-6b3a8c1f0ae9",[26657,26664,26672,26680,26688,26696,26704,26712,26720,26728,26736,26744,26751,26759,26767,26775,26783,26791,26799,26807,26815,26823,26831,26839,26847,26855,26862,26870,26878,26886,26894,26904,26911,26919,26929,26945,26952,26960,26967,26977,26985,26992,26999,27006,27013,27020],{"_key":26658,"_type":173,"children":26659,"markDefs":26663,"style":182},"5b5ff9e8321b",[26660],{"_key":26661,"_type":177,"marks":26662,"text":20410},"459a9be421510",[],[],{"_key":26665,"_type":173,"children":26666,"markDefs":26671,"style":182},"3f072c9ad9e9",[26667],{"_key":26668,"_type":177,"marks":26669,"text":26670},"a957a2ff0d080",[],"Interim Results for the six months to 30 June 2016",[],{"_key":26673,"_type":173,"children":26674,"markDefs":26679,"style":182},"43131e8f9fde",[26675],{"_key":26676,"_type":177,"marks":26677,"text":26678},"ac38b28d69ed0",[],"Hunting PLC (LSE:HTG), the international energy services group, today announces its interim results for the six months to 30 June 2016.",[],{"_key":26681,"_type":173,"children":26682,"markDefs":26687,"style":14843},"a845eab03e1a",[26683],{"_key":26684,"_type":177,"marks":26685,"text":26686},"7b7d87f2373c0",[],"Financial Summary - from continuing operations",[],{"_key":26689,"_type":173,"children":26690,"level":955,"listItem":2555,"markDefs":26695,"style":182},"6b09bc0b6f66",[26691],{"_key":26692,"_type":177,"marks":26693,"text":26694},"89261e4d79370",[],"Revenue $228.4m (H1 2015 - $463.6m)",[],{"_key":26697,"_type":173,"children":26698,"level":955,"listItem":2555,"markDefs":26703,"style":182},"086c6d18be16",[26699],{"_key":26700,"_type":177,"marks":26701,"text":26702},"c0046eb6c47a0",[],"Underlying EBITDA $29.5m loss (H1 2015 - $44.1m profit)",[],{"_key":26705,"_type":173,"children":26706,"level":955,"listItem":2555,"markDefs":26711,"style":182},"eed0e467fc98",[26707],{"_key":26708,"_type":177,"marks":26709,"text":26710},"5215393784670",[],"Underlying loss from operations of $50.8m (H1 2015 - $20.4m profit)",[],{"_key":26713,"_type":173,"children":26714,"level":955,"listItem":2555,"markDefs":26719,"style":182},"d820f9ae5846",[26715],{"_key":26716,"_type":177,"marks":26717,"text":26718},"b34a4e935cdd0",[],"Reported loss from operations of $77.0m (H1 2015 - $63.1m loss)",[],{"_key":26721,"_type":173,"children":26722,"level":955,"listItem":2555,"markDefs":26727,"style":182},"9abdcfb1f87a",[26723],{"_key":26724,"_type":177,"marks":26725,"text":26726},"eba4698643230",[],"Underlying diluted loss per share 27.8 cents (H1 2015 - 8.4 cents earnings per share)",[],{"_key":26729,"_type":173,"children":26730,"level":955,"listItem":2555,"markDefs":26735,"style":182},"e2b272552344",[26731],{"_key":26732,"_type":177,"marks":26733,"text":26734},"decb1808dd5d0",[],"Reported diluted loss per share 40.3 cents (H1 2015 - 35.5 cents loss per share)",[],{"_key":26737,"_type":173,"children":26738,"level":955,"listItem":2555,"markDefs":26743,"style":182},"ba417fc9595d",[26739],{"_key":26740,"_type":177,"marks":26741,"text":26742},"433cde000ee30",[],"Net debt of $87.5m (31 December 2015 - $110.5m)",[],{"_key":26745,"_type":173,"children":26746,"markDefs":26750,"style":14843},"dcdd425d51aa",[26747],{"_key":26748,"_type":177,"marks":26749,"text":25548},"0308a485dc100",[],[],{"_key":26752,"_type":173,"children":26753,"level":955,"listItem":2555,"markDefs":26758,"style":182},"a8a313767b77",[26754],{"_key":26755,"_type":177,"marks":26756,"text":26757},"0d765a6190720",[],"Focus on cash generation to reduce net debt, with initiatives including:",[],{"_key":26760,"_type":173,"children":26761,"level":3751,"listItem":2555,"markDefs":26766,"style":182},"4dcb5beb5e77",[26762],{"_key":26763,"_type":177,"marks":26764,"text":26765},"961dac0be7d90",[],"$42.3m reduction in inventories since 31 December 2015;",[],{"_key":26768,"_type":173,"children":26769,"level":3751,"listItem":2555,"markDefs":26774,"style":182},"a2504e864561",[26770],{"_key":26771,"_type":177,"marks":26772,"text":26773},"17584c4068c30",[],"$29.5m tax reclaimed from carry back of losses; and",[],{"_key":26776,"_type":173,"children":26777,"level":3751,"listItem":2555,"markDefs":26782,"style":182},"db1c65625c15",[26778],{"_key":26779,"_type":177,"marks":26780,"text":26781},"f46e97015a830",[],"capital investment limited to contracted or essential spend.",[],{"_key":26784,"_type":173,"children":26785,"level":955,"listItem":2555,"markDefs":26790,"style":182},"95ae35c1f6e9",[26786],{"_key":26787,"_type":177,"marks":26788,"text":26789},"99d6f9aee78d0",[],"Cost cutting measures continued during the reporting period and include:",[],{"_key":26792,"_type":173,"children":26793,"level":3751,"listItem":2555,"markDefs":26798,"style":182},"b487fe092a2b",[26794],{"_key":26795,"_type":177,"marks":26796,"text":26797},"8a3c0d9e45140",[],"46% reduction in headcount to 2,145 since 31 December 2014 position of 4,003; and",[],{"_key":26800,"_type":173,"children":26801,"level":3751,"listItem":2555,"markDefs":26806,"style":182},"fabb0535cb5d",[26802],{"_key":26803,"_type":177,"marks":26804,"text":26805},"0b6c9985a84b0",[],"3 manufacturing facilities and 7 distribution centres closed.",[],{"_key":26808,"_type":173,"children":26809,"level":955,"listItem":2555,"markDefs":26814,"style":182},"287fa0d26dc6",[26810],{"_key":26811,"_type":177,"marks":26812,"text":26813},"ea13ba1fa7390",[],"Discussions to revise terms of bank Revolving Credit Facility concluded:",[],{"_key":26816,"_type":173,"children":26817,"level":3751,"listItem":2555,"markDefs":26822,"style":182},"c1d95487a787",[26818],{"_key":26819,"_type":177,"marks":26820,"text":26821},"80941d95f0f00",[],"profits based covenants suspended until the 31 December 2018 test date;",[],{"_key":26824,"_type":173,"children":26825,"level":3751,"listItem":2555,"markDefs":26830,"style":182},"bef42a0d858f",[26826],{"_key":26827,"_type":177,"marks":26828,"text":26829},"329e451dfcc60",[],"new asset based covenants of Tangible Net Worth and Asset Cover;",[],{"_key":26832,"_type":173,"children":26833,"level":3751,"listItem":2555,"markDefs":26838,"style":182},"29c6a1d4bb98",[26834],{"_key":26835,"_type":177,"marks":26836,"text":26837},"19930eba7c3f0",[],"facility size reduced from $350m to $200m;",[],{"_key":26840,"_type":173,"children":26841,"level":3751,"listItem":2555,"markDefs":26846,"style":182},"ce0ddfd0f710",[26842],{"_key":26843,"_type":177,"marks":26844,"text":26845},"5a78566273820",[],"facility secured on trade receivables, inventory and property in the USA, UK and Canada; and",[],{"_key":26848,"_type":173,"children":26849,"level":3751,"listItem":2555,"markDefs":26854,"style":182},"f126f6d29762",[26850],{"_key":26851,"_type":177,"marks":26852,"text":26853},"65aa4384844d0",[],"no dividend payments until the end of the amendment period.",[],{"_key":26856,"_type":173,"children":26857,"markDefs":26861,"style":182},"83be7c042ee2",[26858],{"_key":26859,"_type":177,"marks":26860,"text":25644},"c1a031429cd60",[179],[],{"_key":26863,"_type":173,"children":26864,"markDefs":26869,"style":13454},"3b97294977a1",[26865],{"_key":26866,"_type":177,"marks":26867,"text":26868},"cc0e39fa6ee90",[216],"\"While industry sentiment reached a low point during the early months of the reporting period, the improved US rig count data seen through Q2 indicates that the global energy markets are adjusting to the lower oil price environment. The combination of lower operating costs and production efficiency gains has led to increased enquiry levels as operators focus on those projects which provide the strongest returns. However, given the inherent uncertainty within the industry at this time, the current market estimates for the 2016 full year will remain dependent on an improved trading environment in the latter part of the year.",[],{"_key":26871,"_type":173,"children":26872,"markDefs":26877,"style":13454},"eca440ad495c",[26873],{"_key":26874,"_type":177,"marks":26875,"text":26876},"360f5c96975b0",[216],"\"While the Group's performance has suffered, we are pleased to have concluded the renegotiation of our bank covenants to enable Hunting to continue with strong, liquid resources to respond to an improving market environment. 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The Voting ID, Task ID and Shareholder Reference Number printed on the Form of Proxy will be required to complete this form of voting.",[27153],{"_key":27146,"_type":138,"href":27154},"http:\u002F\u002Fwww.sharevote.co.uk\u002F",{"_key":27156,"_type":173,"children":27157,"markDefs":27162,"style":182},"d80a554350b3",[27158],{"_key":27159,"_type":177,"marks":27160,"text":27161},"2ea68e7fb7f20",[],"To be valid, your proxy instructions must be received by our Registrars, Equiniti at Aspect House, Spencer Road, Lancing, West Sussex BN99 6DA, no later than 10:30 a.m. on Monday, 11 April 2016.",[],{"_key":27164,"_type":173,"children":27165,"markDefs":27170,"style":182},"75e3c231c209",[27166],{"_key":27167,"_type":177,"marks":27168,"text":27169},"e542b5b400690",[],"If you would like to receive a paper copy of the report please contact our registrars at Equiniti, Aspect House, Spencer Road, Lancing, West Sussex BN99 6DA.",[],[27172],{"_key":27173,"_ref":1713,"_type":141},"a5932c8dd427","The 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Reported – results for the year under IFRS.",{"_key":27482,"_type":177,"marks":27483,"text":1430},"56359d0944913",[],{"_key":27485,"_type":177,"marks":27486,"text":27487},"56359d0944914",[216],"* Non – GAAP measure (“NGM”)",[],{"_key":27490,"_type":173,"children":27491,"markDefs":27496,"style":182},"cf5c2a7d9848",[27492],{"_key":27493,"_type":177,"marks":27494,"text":27495},"91d113ee32a80",[179],"Segmental results from continuing operations",[],{"_key":27498,"_type":146,"asset":27499},"919c768e23a3",{"_ref":27500,"_type":141},"image-76533cd32a777d803d0874f72100f04f933b9180-948x879-jpg",{"_key":27502,"_type":173,"children":27503,"markDefs":27508,"style":182},"59c9b47cd7b9",[27504],{"_key":27505,"_type":177,"marks":27506,"text":27507},"d7d800429d410",[],"An analyst presentation and webcast will be held at 10.30 a.m. today at the offices of Buchanan, 107 Cheapside, London, EC2V 6DN.",[],{"_key":27510,"_type":173,"children":27511,"markDefs":27515,"style":182},"9c589e305418",[27512],{"_key":27513,"_type":177,"marks":27514,"text":23909},"744543dc16040",[],[],{"_key":27517,"_type":173,"children":27518,"markDefs":27524,"style":182},"d37aa88db541",[27519],{"_key":27520,"_type":177,"marks":27521,"text":27523},"80cd6f3147500",[27522],"98c1922f0f99","http:\u002F\u002Fvm.buchanan.uk.com\u002F2016\u002Fhunting030316\u002Fregistration.htm",[27525],{"_key":27522,"_type":138,"href":27523},{"_key":27527,"_type":173,"children":27528,"markDefs":27533,"style":182},"021f59e70f34",[27529],{"_key":27530,"_type":177,"marks":27531,"text":27532},"4dbc38720b900",[],"Commenting on the results, Dennis Proctor, Chief Executive, said:",[],{"_key":27535,"_type":173,"children":27536,"markDefs":27541,"style":182},"a3962781723d",[27537],{"_key":27538,"_type":177,"marks":27539,"text":27540},"ae2e570d7db30",[216],"“Today’s results reflect the severity and speed of the reduction in oil and gas activity, particularly across North America. While this has created challenges for all market participants, the Group has adapted quickly to the changing market environment and remains ready to respond when industry investment recovers.”",[],{"_key":27543,"_type":173,"children":27544,"markDefs":27548,"style":182},"57872a1c0d44",[27545],{"_key":27546,"_type":177,"marks":27547,"text":5318},"db659c1adf350",[],[],{"_key":27550,"_type":173,"children":27551,"markDefs":27555,"style":182},"da8cd3ebe461",[27552],{"_key":27553,"_type":177,"marks":27554,"text":25784},"90249981874d0",[],[],{"_key":27557,"_type":173,"children":27558,"markDefs":27563,"style":182},"b9dd4ed39c90",[27559],{"_key":27560,"_type":177,"marks":27561,"text":27562},"779eb61557d50",[],"Tel: +44 (0) 20 7466 5000Buchanan\nRichard Darby\nGabriella Clinkard",[],{"_key":27565,"_type":173,"children":27566,"markDefs":27570,"style":14843},"648a80b12f13",[27567],{"_key":27568,"_type":177,"marks":27569,"text":10958},"6096ffcac8b80",[],[],{"_key":27572,"_type":173,"children":27573,"markDefs":27577,"style":182},"f15f9a9c94f9",[27574],{"_key":27575,"_type":177,"marks":27576,"text":12234},"8d3102dffd620",[],[],{"_key":27579,"_type":173,"children":27580,"markDefs":27585,"style":182},"5d6293e14a45",[27581],{"_key":27582,"_type":177,"marks":27583,"text":27584},"418e63c9d7bd0",[],"Hunting PLC is an international energy services provider to the world's leading upstream oil and gas companies. Established in 1874, it is a premium listed public company traded on the London Stock Exchange. The Company maintains a corporate office in Houston and is headquartered in London. As well as the United Kingdom, the Company has principal operations in Canada, China, Indonesia, Kenya, Mexico, Netherlands, Norway, Singapore, Saudi Arabia, South Africa, Thailand, United Arab Emirates and the United States of America.",[],[27587],{"_key":27588,"_ref":1713,"_type":141},"c7f14c7d5a3b",[27590],{"_key":27591,"_type":10023,"asset":27592,"title":27594},"882451b92a09",{"_ref":27593,"_type":141},"file-d3841a11bbf6ce5dd9dc9341bb57d7920db7c563-pdf","Download 2015 Full Year Results","2016-03-03T15:15:00.000Z",{"_type":9,"current":27597},"03-03-2016",[27599,27601],{"_key":27600,"_ref":7180,"_type":141},"705a56fff017",{"_key":27602,"_ref":15507,"_type":141},"7b11ae55a81b","\u002Fnews\u002F03-03-2016",{"_createdAt":27605,"_id":27606,"_rev":7809,"_type":168,"_updatedAt":116,"body":27607,"categories":27877,"downloads":27880,"introText":27629,"publishedAt":27886,"slug":27887,"tags":27889,"title":20065,"url":27894},"2023-02-20T15:23:35Z","68d4f11c-175f-45f6-b627-7a084e8a034d",[27608,27615,27623,27631,27639,27647,27655,27663,27671,27679,27687,27695,27703,27711,27730,27737,27745,27753,27761,27769,27777,27784,27792,27800,27808,27816,27823,27833,27840,27848,27855,27862,27869],{"_key":27609,"_type":173,"children":27610,"markDefs":27614,"style":182},"e29bed360200",[27611],{"_key":27612,"_type":177,"marks":27613,"text":20410},"5e5a0c0fcddf0",[],[],{"_key":27616,"_type":173,"children":27617,"markDefs":27622,"style":14843},"e0bf66a23fe4",[27618],{"_key":27619,"_type":177,"marks":27620,"text":27621},"c816e55eb8840",[],"Interim Results for the six months to 30 June 2015",[],{"_key":27624,"_type":173,"children":27625,"markDefs":27630,"style":182},"d9427cd6b5bc",[27626],{"_key":27627,"_type":177,"marks":27628,"text":27629},"f13d5ec924080",[],"Hunting PLC (LSE:HTG), the international energy services group, today announces its interim results for the six months to 30 June 2015.",[],{"_key":27632,"_type":173,"children":27633,"markDefs":27638,"style":182},"2217e37a665a",[27634],{"_key":27635,"_type":177,"marks":27636,"text":27637},"9c52ec5d51510",[179],"Financial Summary – from continuing operations",[],{"_key":27640,"_type":173,"children":27641,"level":955,"listItem":2555,"markDefs":27646,"style":182},"6177017ac4c9",[27642],{"_key":27643,"_type":177,"marks":27644,"text":27645},"62fc6c7d1b47",[],"Revenue $463.6m (H1 2014 - $664.1m)",[],{"_key":27648,"_type":173,"children":27649,"level":955,"listItem":2555,"markDefs":27654,"style":182},"b5a4773ed2f9",[27650],{"_key":27651,"_type":177,"marks":27652,"text":27653},"23e5659f0478",[],"Underlying EBITDA $44.1m (H1 2014 - $120.9m)",[],{"_key":27656,"_type":173,"children":27657,"level":955,"listItem":2555,"markDefs":27662,"style":182},"8eb1f84ba44a",[27658],{"_key":27659,"_type":177,"marks":27660,"text":27661},"786508f02c760",[],"Underlying profit from operations $20.4m (H1 2014 - $96.8m)",[],{"_key":27664,"_type":173,"children":27665,"level":955,"listItem":2555,"markDefs":27670,"style":182},"21f0ffa035d5",[27666],{"_key":27667,"_type":177,"marks":27668,"text":27669},"87a8f53ba9100",[],"Reported loss from operations of $63.1m (H1 2014 - profit $72.0m)",[],{"_key":27672,"_type":173,"children":27673,"level":955,"listItem":2555,"markDefs":27678,"style":182},"9f05543881c6",[27674],{"_key":27675,"_type":177,"marks":27676,"text":27677},"13a0659806bd0",[],"Underlying diluted earnings per share 8.4 cents (H1 2014 - 44.9 cents)",[],{"_key":27680,"_type":173,"children":27681,"level":955,"listItem":2555,"markDefs":27686,"style":182},"f179fdde2b74",[27682],{"_key":27683,"_type":177,"marks":27684,"text":27685},"1e6239b9a0510",[],"Reported diluted loss per share 35.5 cents (H1 2014 - earnings per share 34.7 cents)",[],{"_key":27688,"_type":173,"children":27689,"level":955,"listItem":2555,"markDefs":27694,"style":182},"c4ad60b04631",[27690],{"_key":27691,"_type":177,"marks":27692,"text":27693},"56422822774e0",[],"Interim dividend declared of 4.0 cents (H1 2014 - 8.1 cents)",[],{"_key":27696,"_type":173,"children":27697,"level":955,"listItem":2555,"markDefs":27702,"style":182},"cedfe1bbce07",[27698],{"_key":27699,"_type":177,"marks":27700,"text":27701},"eb4528c97e0f0",[],"Net debt of $166.7m (31 December 2014 - $131.0m)",[],{"_key":27704,"_type":173,"children":27705,"level":955,"listItem":2555,"markDefs":27710,"style":182},"8d3dc2034d9b",[27706],{"_key":27707,"_type":177,"marks":27708,"text":27709},"196bc3deac430",[],"Gearingii of 12% (31 December 2014 - 9%)",[],{"_key":27712,"_type":173,"children":27713,"markDefs":27729,"style":182},"9f214e4fbbbb",[27714,27718,27722,27725],{"_key":27715,"_type":177,"marks":27716,"text":27717},"ff5a43660500",[],"¹",{"_key":27719,"_type":177,"marks":27720,"text":27721},"fdbd762bc1c00",[216]," H1 2014 restated following the sale of Gibson Shipbrokers. Underlying results are based on continuing operations before amortisation of acquired intangibles and exceptional items. Reported results are based on the statutory results for continuing operations as reported under International Financial Reporting Standards.",{"_key":27723,"_type":177,"marks":27724,"text":1430},"fdbd762bc1c01",[],{"_key":27726,"_type":177,"marks":27727,"text":27728},"fdbd762bc1c02",[216],"ii Gearing is defined as net debt as a percentage of total equity.",[],{"_key":27731,"_type":173,"children":27732,"markDefs":27736,"style":14843},"bf411d6b9547",[27733],{"_key":27734,"_type":177,"marks":27735,"text":25548},"692f5413390b0",[],[],{"_key":27738,"_type":173,"children":27739,"level":955,"listItem":2555,"markDefs":27744,"style":182},"f2d4ae55e3bd",[27740],{"_key":27741,"_type":177,"marks":27742,"text":27743},"ecc97c4b6d120",[],"Operations impacted by global downturn in oil and gas markets. Measures taken to reduce the cost base include over 900 headcount reductions representing approximately 25% of the workforce, resulting in annualised cost savings of approximately $41m;",[],{"_key":27746,"_type":173,"children":27747,"level":955,"listItem":2555,"markDefs":27752,"style":182},"e0e46bcc4799",[27748],{"_key":27749,"_type":177,"marks":27750,"text":27751},"9973f923fe730",[],"Hunting Subsea reports profit growth with activity in the deep water markets less adversely affected;",[],{"_key":27754,"_type":173,"children":27755,"level":955,"listItem":2555,"markDefs":27760,"style":182},"5f75f67ac671",[27756],{"_key":27757,"_type":177,"marks":27758,"text":27759},"ac5863288b1c0",[],"New facilities in Cape Town, South Africa, and Louisiana, US, completed;",[],{"_key":27762,"_type":173,"children":27763,"level":955,"listItem":2555,"markDefs":27768,"style":182},"0ba0e560a21f",[27764],{"_key":27765,"_type":177,"marks":27766,"text":27767},"0a2627873e1c0",[],"Construction of new\u002Fexpanded facilities at Hunting Dearborn and for Premium Connections business scheduled for completion in H2 2015;",[],{"_key":27770,"_type":173,"children":27771,"level":955,"listItem":2555,"markDefs":27776,"style":182},"548e3596a33f",[27772],{"_key":27773,"_type":177,"marks":27774,"text":27775},"759854007d400",[],"$63.5m consolidation and expansion project in Singapore sanctioned and underway - targeted for completion early 2017.",[],{"_key":27778,"_type":173,"children":27779,"markDefs":27783,"style":182},"b9f80a8dce7f",[27780],{"_key":27781,"_type":177,"marks":27782,"text":25644},"e6d80651d39e0",[179],[],{"_key":27785,"_type":173,"children":27786,"markDefs":27791,"style":13454},"e682877e0bd4",[27787],{"_key":27788,"_type":177,"marks":27789,"text":27790},"590292ff68080",[216],"“Our first half performance has been affected by the downturn across the energy industry with management addressing this market environment with staff reductions and cost saving measures.",[],{"_key":27793,"_type":173,"children":27794,"markDefs":27799,"style":13454},"423f1ede5c5e",[27795],{"_key":27796,"_type":177,"marks":27797,"text":27798},"2076adb9281a0",[216],"“Hunting remains focused on developing and providing proprietary and innovative products and services to its global customer base, utilising flexible, efficient, manufacturing facilities across our regional operating locations.",[],{"_key":27801,"_type":173,"children":27802,"markDefs":27807,"style":13454},"beeb462465a5",[27803],{"_key":27804,"_type":177,"marks":27805,"text":27806},"97c8324df5830",[216],"“The capital investment projects underway to consolidate operations and position our businesses for the future remain on schedule, as efficiency gains and strategic investments in emerging geographic regions enable new opportunities to be pursued as the global industry evolves.”",[],{"_key":27809,"_type":173,"children":27810,"markDefs":27815,"style":182},"f7b09ec61bca",[27811],{"_key":27812,"_type":177,"marks":27813,"text":27814},"cbff1aac9d740",[],"Hunting PLC will host an analyst briefing on Thursday 27 August 2015 at 10.30am at the offices of Buchanan, 107 Cheapside, London, EC2V 6DN.",[],{"_key":27817,"_type":173,"children":27818,"markDefs":27822,"style":182},"d8c15a543e22",[27819],{"_key":27820,"_type":177,"marks":27821,"text":23909},"92602d8a849a0",[179],[],{"_key":27824,"_type":173,"children":27825,"markDefs":27831,"style":182},"ba0ca1df3ebd",[27826],{"_key":27827,"_type":177,"marks":27828,"text":27830},"466f20d2c1160",[27829],"acad668c35b5","http:\u002F\u002Fvm.buchanan.uk.com\u002F2015\u002Fhunting270815\u002Fregistration.htm",[27832],{"_key":27829,"_type":138,"href":27830},{"_key":27834,"_type":173,"children":27835,"markDefs":27839,"style":182},"de87c11d5da6",[27836],{"_key":27837,"_type":177,"marks":27838,"text":5318},"09c8ec31018f0",[179],[],{"_key":27841,"_type":173,"children":27842,"markDefs":27847,"style":182},"803cb293d209",[27843],{"_key":27844,"_type":177,"marks":27845,"text":27846},"b17cd95094670",[],"Hunting PLC\nDennis Proctor, Chief Executive\nPeter Rose, Finance Director Tel: +44 (0) 20 7321 0123",[],{"_key":27849,"_type":173,"children":27850,"markDefs":27854,"style":182},"2f8f9d7ed3bb",[27851],{"_key":27852,"_type":177,"marks":27853,"text":27562},"692d3be3db470",[],[],{"_key":27856,"_type":173,"children":27857,"markDefs":27861,"style":14843},"f037d059187e",[27858],{"_key":27859,"_type":177,"marks":27860,"text":10958},"b302ea95dbfa0",[],[],{"_key":27863,"_type":173,"children":27864,"markDefs":27868,"style":182},"0607baa5a1b7",[27865],{"_key":27866,"_type":177,"marks":27867,"text":12234},"b9e26608c1ca0",[],[],{"_key":27870,"_type":173,"children":27871,"markDefs":27876,"style":182},"39d984b74e78",[27872],{"_key":27873,"_type":177,"marks":27874,"text":27875},"50e386b575cb0",[],"Hunting PLC is an international energy services provider to the world's leading upstream oil and gas companies. Established in 1874, it is a premium listed public company traded on the London Stock Exchange. The Company maintains a corporate office in Houston and is headquartered in London. As well as the United Kingdom, the Company has principal operations in Canada, China, Indonesia, Mexico, Netherlands, Singapore, South Africa, Thailand, United Arab Emirates and the United States of America.",[],[27878],{"_key":27879,"_ref":1713,"_type":141},"37ca866d6352",[27881],{"_key":27882,"_type":10023,"asset":27883,"title":27885},"c901fad39a9f",{"_ref":27884,"_type":141},"file-01370e340d9cadd8b2872398657b01573e2f1a6c-pdf","Download 2015 Half Year Results","2015-08-27T14:23:00.000Z",{"_type":9,"current":27888},"27-08-2015",[27890,27892],{"_key":27891,"_ref":7180,"_type":141},"4ed56dc707fa",{"_key":27893,"_ref":15507,"_type":141},"f0a4ed2a96ea","\u002Fnews\u002F27-08-2015",{"_createdAt":27896,"_id":27897,"_rev":27898,"_type":168,"_updatedAt":27899,"body":27900,"categories":28076,"introText":28079,"mainImage":28080,"publishedAt":28082,"slug":28083,"tags":28085,"title":28089,"url":28090},"2023-02-20T15:26:20Z","d7e724e3-478e-490f-941f-aee07f5af111","DBMO57ZIr7O8zFikjHdBnD","2026-07-22T06:52:14Z",[27901,27909,27925,27933,27941,27948,27952,27960,27968,27976,27984,27998,28006,28014,28029,28040,28053,28063],{"_key":27902,"_type":173,"children":27903,"markDefs":27908,"style":14843},"10b23922ec1c",[27904],{"_key":27905,"_type":177,"marks":27906,"text":27907},"0fa5bf25b7060",[],"HOUSTON, May 4, 2015",[],{"_key":27910,"_type":173,"children":27911,"markDefs":27924,"style":182},"c157025f4632",[27912,27916,27920],{"_key":27913,"_type":177,"marks":27914,"text":27915},"b35854e5c8a7",[],"Hunting PLC announced that ",{"_key":27917,"_type":177,"marks":27918,"text":27919},"0fa5bf25b7062",[216],"Fire",{"_key":27921,"_type":177,"marks":27922,"text":27923},"0fa5bf25b7063",[]," by Houston artist Kevin Peterson is the winner of the $50,000 Hunting Art Prize for 2015.",[],{"_key":27926,"_type":173,"children":27927,"markDefs":27932,"style":182},"b0aebf9431da",[27928],{"_key":27929,"_type":177,"marks":27930,"text":27931},"1497b3d752f30",[],"The painting was selected from over 100 finalists in the 35th annual award program, which is sponsored by the global oil services company and is the most generous annual art prize in North America for painting and drawing",[],{"_key":27934,"_type":173,"children":27935,"markDefs":27940,"style":182},"694cf9603d08",[27936],{"_key":27937,"_type":177,"marks":27938,"text":27939},"0fe766aabd380",[],"Peterson has been a finalist five times in the last eight years and his entry was featured on the annual Hunting Art Prize keepsake poster produced in 2008. Announcement of his winning came during an evening awards gala on May 2 at the Friedkin Companies Campus, Gulf States Toyota, in Houston.",[],{"_key":27942,"_type":173,"children":27943,"markDefs":27947,"style":182},"50e2ab280586",[27944],{"_key":27945,"_type":177,"marks":27946,"text":180},"52d42e0c912a",[],[],{"_key":27949,"_type":146,"asset":27950},"2b913a9615a6",{"_ref":27951,"_type":141},"image-7da1ea04aaa47b8f878890d855168411f0d5000e-560x400-jpg",{"_key":27953,"_type":173,"children":27954,"markDefs":27959,"style":13454},"1f50d9e1a451",[27955],{"_key":27956,"_type":177,"marks":27957,"text":27958},"6781f18354900",[],"\"It is such a privilege to be included among the unbelievably gifted artists who have been named winners of this prestigious prize,\" said Peterson. \"As a longtime participant in the competition, I have to say this is an incredible accomplishment and a life-changing recognition. I couldn't be more honored to earn this generous award.\"",[],{"_key":27961,"_type":173,"children":27962,"markDefs":27967,"style":182},"6b107a9e00b7",[27963],{"_key":27964,"_type":177,"marks":27965,"text":27966},"7fe70d6e2bda0",[],"Peterson's works explore the varied journeys of life, detailing the experience of growing up and living in a world that is broken. 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As well as the United Kingdom, the Company has principal operations in Canada, China, Indonesia, Mexico, Netherlands, Norway, Singapore, South Africa, Thailand, United Arab Emirates and the United States of America.",[],{"_key":28525,"_type":173,"children":28526,"markDefs":28530,"style":182},"a590d33a9492",[28527],{"_key":28528,"_type":177,"marks":28529,"text":1430},"7effe7e1d1d20",[],[],[28532],{"_key":28533,"_ref":1713,"_type":141},"94eeef25be01",[28535],{"_key":28536,"_type":10023,"asset":28537,"title":28539},"86fdf964bfbc",{"_ref":28538,"_type":141},"file-8a341740c323e3e2521c0c307b5b1217fb6551ab-pdf","Download 2014 Full Year Results","2015-03-05T15:27:00.000Z",{"_type":9,"current":28542},"05-03-2015",[28544,28546],{"_key":28545,"_ref":7180,"_type":141},"110ffd5d3def",{"_key":28547,"_ref":15507,"_type":141},"3ed4b4f3b6b7","\u002Fnews\u002F05-03-2015",{"_createdAt":28550,"_id":28551,"_rev":12607,"_type":168,"_updatedAt":116,"body":28552,"categories":28667,"introText":28559,"publishedAt":28670,"slug":28671,"tags":28673,"title":24491,"url":28678},"2023-02-20T15:34:36Z","51b8c718-8cd6-4a88-bbd9-8276d319f8f9",[28553,28561,28569,28577,28585,28592,28600,28608,28616,28623,28630,28638,28645,28652,28659],{"_key":28554,"_type":173,"children":28555,"markDefs":28560,"style":182},"c6c39e0ac877",[28556],{"_key":28557,"_type":177,"marks":28558,"text":28559},"e642482d1c0a0",[],"Hunting PLC (LSE:HTG), the international energy services group today announces the appointment of Annell R. Bay and John (\"Jay\") F. Glick as independent non-executive Directors of the Company with immediate effect.",[],{"_key":28562,"_type":173,"children":28563,"markDefs":28568,"style":14843},"8ede8456277e",[28564],{"_key":28565,"_type":177,"marks":28566,"text":28567},"19b5f1c7a5720",[],"Annell Bay",[],{"_key":28570,"_type":173,"children":28571,"markDefs":28576,"style":182},"efe21f432644",[28572],{"_key":28573,"_type":177,"marks":28574,"text":28575},"cee023310eb30",[],"Annell Bay, a US citizen, is currently a non-executive Director of Apache Corporation, a global oil and gas exploration and production company.",[],{"_key":28578,"_type":173,"children":28579,"markDefs":28584,"style":182},"ac35a9d032d9",[28580],{"_key":28581,"_type":177,"marks":28582,"text":28583},"ba9e2fbb24940",[],"Ms Bay spent six years as vice-president of Global Exploration at Marathon Oil Corporation, an independent international energy company. Prior to Marathon, Ms Bay was vice-president of Americas Exploration at Shell Exploration and Production Company. Earlier, Ms Bay held senior positions with a number of oil and gas industry organisations including Kerr McGee, Oryx Energy and Chevron.",[],{"_key":28586,"_type":173,"children":28587,"markDefs":28591,"style":14843},"ecfe4f6954eb",[28588],{"_key":28589,"_type":177,"marks":28590,"text":25188},"967de2ce49c80",[],[],{"_key":28593,"_type":173,"children":28594,"markDefs":28599,"style":182},"39a013bd4092",[28595],{"_key":28596,"_type":177,"marks":28597,"text":28598},"ebce95dd8bbb0",[],"Jay Glick, a US citizen, is currently a non-executive Director of TETRA Technologies, Inc. a geographically diversified oil and gas services company headquartered in Houston, Texas.",[],{"_key":28601,"_type":173,"children":28602,"markDefs":28607,"style":182},"5d4d7356c644",[28603],{"_key":28604,"_type":177,"marks":28605,"text":28606},"bb8beca7e0ae0",[],"Mr Glick is a former executive of Lufkin Industries, Inc. (acquired by General Electric in 2013) where he held a number of senior roles including that of President and Chief Executive Officer between 2008 and 2013. Prior to joining Lufkin Industries, Inc. Mr Glick held several senior management positions within Cameron Iron Works Inc. and Cooper Industries Inc., for a combined period of 20 years.",[],{"_key":28609,"_type":173,"children":28610,"markDefs":28615,"style":182},"39f70a26e928",[28611],{"_key":28612,"_type":177,"marks":28613,"text":28614},"e240851a635e0",[],"Ms Bay and Mr Glick will both join the audit, nomination and remuneration committees with immediate effect.",[],{"_key":28617,"_type":173,"children":28618,"markDefs":28622,"style":182},"054274c2323c",[28619],{"_key":28620,"_type":177,"marks":28621,"text":24595},"d467988564130",[],[],{"_key":28624,"_type":173,"children":28625,"markDefs":28629,"style":182},"1c5bbd303428",[28626],{"_key":28627,"_type":177,"marks":28628,"text":1126},"bb3d0157e1980",[179],[],{"_key":28631,"_type":173,"children":28632,"markDefs":28637,"style":182},"808ab9e44c89",[28633],{"_key":28634,"_type":177,"marks":28635,"text":28636},"7c8ab58c580a0",[],"Hunting PLC\nRichard Hunting, Chairman\nDennis Proctor, Chief Executive Tel: +44 (0) 20 7321 0123",[],{"_key":28639,"_type":173,"children":28640,"markDefs":28644,"style":182},"1f1297be9235",[28641],{"_key":28642,"_type":177,"marks":28643,"text":27562},"4965085551310",[],[],{"_key":28646,"_type":173,"children":28647,"markDefs":28651,"style":14843},"22342c626590",[28648],{"_key":28649,"_type":177,"marks":28650,"text":10958},"888397aefb660",[],[],{"_key":28653,"_type":173,"children":28654,"markDefs":28658,"style":182},"d7120dd34b64",[28655],{"_key":28656,"_type":177,"marks":28657,"text":1256},"bd1be29d8a8d0",[179],[],{"_key":28660,"_type":173,"children":28661,"markDefs":28666,"style":182},"c3fc7e53cbaa",[28662],{"_key":28663,"_type":177,"marks":28664,"text":28665},"0dd6cbc40a350",[],"Hunting PLC is an international energy services provider to the world's leading upstream oil and gas companies. Established in 1874, it is a premium listed public company traded on the London Stock Exchange. The Company maintains a corporate office in Houston and is headquartered in London. As well as the United Kingdom, the Company has principal operations in Canada, China, Hong Kong, Indonesia, Mexico, Netherlands, Singapore, South Africa, Thailand, United Arab Emirates and the United States of America.",[],[28668],{"_key":28669,"_ref":1713,"_type":141},"b93bb731830e","2015-02-02T15:34:00.000Z",{"_type":9,"current":28672},"02-02-2015",[28674,28676],{"_key":28675,"_ref":7180,"_type":141},"d3d51afcf787",{"_key":28677,"_ref":16463,"_type":141},"40c3983d219c","\u002Fnews\u002F02-02-2015",{"_createdAt":28680,"_id":28681,"_rev":10063,"_type":168,"_updatedAt":116,"body":28682,"categories":28979,"downloads":28982,"introText":28704,"publishedAt":28988,"slug":28989,"tags":28991,"title":20065,"url":28996},"2023-02-20T15:38:33Z","45c7c48c-f1ab-44b0-824e-3838be57e8df",[28683,28690,28698,28706,28714,28722,28730,28738,28746,28754,28762,28770,28778,28786,28794,28801,28809,28817,28825,28833,28841,28849,28857,28865,28873,28881,28888,28896,28904,28912,28919,28929,28936,28943,28950,28957,28964,28972],{"_key":28684,"_type":173,"children":28685,"markDefs":28689,"style":182},"ee0492d4657d",[28686],{"_key":28687,"_type":177,"marks":28688,"text":20410},"ad5ef1b2959c0",[],[],{"_key":28691,"_type":173,"children":28692,"markDefs":28697,"style":182},"c66674af16f0",[28693],{"_key":28694,"_type":177,"marks":28695,"text":28696},"28e4b14fcb380",[],"Interim Results for the six months to 30 June 2014",[],{"_key":28699,"_type":173,"children":28700,"markDefs":28705,"style":182},"78a92e70f56f",[28701],{"_key":28702,"_type":177,"marks":28703,"text":28704},"c2b98b0cfcc60",[],"Hunting PLC (LSE:HTG), the international energy services group, today announces its interim results for the six months to 30 June 2014.",[],{"_key":28707,"_type":173,"children":28708,"markDefs":28713,"style":14843},"a9195c9e21f2",[28709],{"_key":28710,"_type":177,"marks":28711,"text":28712},"7e55793299430",[],"Financial Highlights – from continuing operations",[],{"_key":28715,"_type":173,"children":28716,"level":955,"listItem":2555,"markDefs":28721,"style":182},"f103b1cb76fb",[28717],{"_key":28718,"_type":177,"marks":28719,"text":28720},"e85ffb1490520",[],"Revenue $687.5m (H1 2013: $655.7m) +4.8%",[],{"_key":28723,"_type":173,"children":28724,"level":955,"listItem":2555,"markDefs":28729,"style":182},"2b2fe93cbb25",[28725],{"_key":28726,"_type":177,"marks":28727,"text":28728},"7a1fbee005650",[],"Underlying EBITDA $121.3m (H1 2013: $116.7m) +3.9%",[],{"_key":28731,"_type":173,"children":28732,"level":955,"listItem":2555,"markDefs":28737,"style":182},"7a7289593a2e",[28733],{"_key":28734,"_type":177,"marks":28735,"text":28736},"e6e3cfd5d81a0",[],"Underlying profit from operations $97.1m (H1 2013: $94.5m) +2.8%",[],{"_key":28739,"_type":173,"children":28740,"level":955,"listItem":2555,"markDefs":28745,"style":182},"2e8f7990f14e",[28741],{"_key":28742,"_type":177,"marks":28743,"text":28744},"2519c0fbe9e80",[],"Reported profit from operations of $72.3m (H1 2013: $63.0m) +14.8%",[],{"_key":28747,"_type":173,"children":28748,"level":955,"listItem":2555,"markDefs":28753,"style":182},"ad6f1b6fd8e4",[28749],{"_key":28750,"_type":177,"marks":28751,"text":28752},"67090ba2d60c0",[],"Underlying profit before tax $93.9m (H1 2013: $91.5m) +2.6%",[],{"_key":28755,"_type":173,"children":28756,"level":955,"listItem":2555,"markDefs":28761,"style":182},"754532ee2473",[28757],{"_key":28758,"_type":177,"marks":28759,"text":28760},"2a58af0765270",[],"Reported profit before tax $69.1m (H1 2013: $60.0m) +15.2%",[],{"_key":28763,"_type":173,"children":28764,"level":955,"listItem":2555,"markDefs":28769,"style":182},"c7c2124a7ea4",[28765],{"_key":28766,"_type":177,"marks":28767,"text":28768},"678a268d054a0",[],"Underlying diluted earnings per share 44.9 cents (H1 2013: 42.2 cents) +6.4%",[],{"_key":28771,"_type":173,"children":28772,"level":955,"listItem":2555,"markDefs":28777,"style":182},"d97f8297d0cd",[28773],{"_key":28774,"_type":177,"marks":28775,"text":28776},"1309bde16fba0",[],"Reported diluted earnings per share 34.7 cents (H1 2013: 28.5 cents) +21.8%",[],{"_key":28779,"_type":173,"children":28780,"level":955,"listItem":2555,"markDefs":28785,"style":182},"6679e6851725",[28781],{"_key":28782,"_type":177,"marks":28783,"text":28784},"14bde8414c390",[],"Interim dividend declared of 8.1 cents (H1 2013: 7.7 cents) +5.2%",[],{"_key":28787,"_type":173,"children":28788,"level":955,"listItem":2555,"markDefs":28793,"style":182},"5a36d26cff44",[28789],{"_key":28790,"_type":177,"marks":28791,"text":28792},"796c2a3254770",[],"Net debt of $229.0m (31 December 2013: $205.8m)",[],{"_key":28795,"_type":173,"children":28796,"markDefs":28800,"style":14843},"51b16b072171",[28797],{"_key":28798,"_type":177,"marks":28799,"text":21538},"f273ec26bb150",[],[],{"_key":28802,"_type":173,"children":28803,"level":955,"listItem":2555,"markDefs":28808,"style":182},"65ae5e0405e0",[28804],{"_key":28805,"_type":177,"marks":28806,"text":28807},"c05d30c95b4c0",[],"Strong Q2 2014 performance offsetting a slower Q1 2014:",[],{"_key":28810,"_type":173,"children":28811,"level":3751,"listItem":2555,"markDefs":28816,"style":182},"1593b3937410",[28812],{"_key":28813,"_type":177,"marks":28814,"text":28815},"3dd9f5ac95e00",[],"Well Construction - Premium Connections and Hunting Dearborn in line with expectations driven by Gulf of Mexico activity; Drilling Tools performance impacted by severe weather in North America in Q1;",[],{"_key":28818,"_type":173,"children":28819,"level":3751,"listItem":2555,"markDefs":28824,"style":182},"41dfcafba0bd",[28820],{"_key":28821,"_type":177,"marks":28822,"text":28823},"ddad24eee8800",[],"Well Completion - Robust growth delivered in revenue and profits at Hunting Titan; US Manufacturing benefiting from continued growth in Gulf of Mexico activity; slower activity levels seen in the North Sea;",[],{"_key":28826,"_type":173,"children":28827,"level":3751,"listItem":2555,"markDefs":28832,"style":182},"57a7e87150b0",[28828],{"_key":28829,"_type":177,"marks":28830,"text":28831},"54d3fe0acd290",[],"Well Intervention - Strong sales of pressure control equipment reported in Middle East and South East Asia; Hunting Subsea reporting good profit growth.",[],{"_key":28834,"_type":173,"children":28835,"level":955,"listItem":2555,"markDefs":28840,"style":182},"3c079b23075a",[28836],{"_key":28837,"_type":177,"marks":28838,"text":28839},"d3f67d43b4ab0",[],"Capital investment programme progressing:",[],{"_key":28842,"_type":173,"children":28843,"level":3751,"listItem":2555,"markDefs":28848,"style":182},"b50d4e947f09",[28844],{"_key":28845,"_type":177,"marks":28846,"text":28847},"33d0f68d22690",[],"$36.4m expansion of US Manufacturing facility at Houma, Louisiana - target completion of Q1 2015;",[],{"_key":28850,"_type":173,"children":28851,"level":3751,"listItem":2555,"markDefs":28856,"style":182},"0c0265fd3269",[28852],{"_key":28853,"_type":177,"marks":28854,"text":28855},"d4985e6ba6460",[],"$54.0m new Threading and Test facility at Houston, Texas, with operations targeted to commence mid-2015;",[],{"_key":28858,"_type":173,"children":28859,"level":3751,"listItem":2555,"markDefs":28864,"style":182},"cb8a6801e1df",[28860],{"_key":28861,"_type":177,"marks":28862,"text":28863},"b11c5532f7a90",[],"$18.8m expansion at Hunting Dearborn underway - target completion of Q1 2015;",[],{"_key":28866,"_type":173,"children":28867,"level":3751,"listItem":2555,"markDefs":28872,"style":182},"1d9a0fcb2627",[28868],{"_key":28869,"_type":177,"marks":28870,"text":28871},"988966536fac0",[],"$20.0m new facility in Cape Town, South Africa, with repair capabilities targeted to commence Q4 2014 and manufacturing commencing mid-2015.",[],{"_key":28874,"_type":173,"children":28875,"level":955,"listItem":2555,"markDefs":28880,"style":182},"17c0e12bd021",[28876],{"_key":28877,"_type":177,"marks":28878,"text":28879},"f9d6d34380d40",[],"Business opportunities well-advanced in Kenya to access regional drilling activity – including repair and storage facilities.",[],{"_key":28882,"_type":173,"children":28883,"markDefs":28887,"style":182},"a4ed8dfdb042",[28884],{"_key":28885,"_type":177,"marks":28886,"text":25644},"4acaa20deb9b0",[179],[],{"_key":28889,"_type":173,"children":28890,"markDefs":28895,"style":13454},"b5bcab748aa8",[28891],{"_key":28892,"_type":177,"marks":28893,"text":28894},"354d477c18650",[216],"\"Hunting has reported a good set of results today and reflects a strong Q2 performance offsetting the slower Q1 which was affected by the severe weather across North America. Activity has returned to levels which management anticipated at the start of the year with Hunting Titan and Hunting Subsea reporting strong growth in revenue and profits. As a consequence of this, management remains comfortable that Hunting’s performance, for the year as whole, remains in line with its expectations.\"",[],{"_key":28897,"_type":173,"children":28898,"markDefs":28903,"style":13454},"cfcf1c315357",[28899],{"_key":28900,"_type":177,"marks":28901,"text":28902},"6a61e22b4f020",[216],"\"Our capital investment programme is continuing on track, with new facilities being commissioned from Q4 2014 and into 2015. This investment will expand our capabilities both in established operational regions and in new geographic territories.\"",[],{"_key":28905,"_type":173,"children":28906,"markDefs":28911,"style":182},"7f94cf8859e4",[28907],{"_key":28908,"_type":177,"marks":28909,"text":28910},"31e286ba16b70",[],"Hunting PLC will host an Analyst and Investor briefing on Thursday 28 August 2014 at 10.45am at the offices of Buchanan, 107 Cheapside, London, EC2V 6DN.",[],{"_key":28913,"_type":173,"children":28914,"markDefs":28918,"style":182},"fc3b38fdfd54",[28915],{"_key":28916,"_type":177,"marks":28917,"text":23909},"465570f3b0030",[179],[],{"_key":28920,"_type":173,"children":28921,"markDefs":28927,"style":182},"d46baa32df17",[28922],{"_key":28923,"_type":177,"marks":28924,"text":28926},"1bbb5504eb320",[28925],"e5f583c8d428","http:\u002F\u002Fmedia.buchanan.uk.com\u002F2014\u002Fhunting280814\u002Fregistration.asp",[28928],{"_key":28925,"_type":138,"href":28926},{"_key":28930,"_type":173,"children":28931,"markDefs":28935,"style":182},"f50ffe43ab83",[28932],{"_key":28933,"_type":177,"marks":28934,"text":5318},"17097d2b07520",[179],[],{"_key":28937,"_type":173,"children":28938,"markDefs":28942,"style":182},"45d216e3631f",[28939],{"_key":28940,"_type":177,"marks":28941,"text":27846},"8b053b49299e0",[],[],{"_key":28944,"_type":173,"children":28945,"markDefs":28949,"style":182},"34ff2d4aa3dd",[28946],{"_key":28947,"_type":177,"marks":28948,"text":27562},"6b1b1c7b9e260",[],[],{"_key":28951,"_type":173,"children":28952,"markDefs":28956,"style":14843},"66731e013483",[28953],{"_key":28954,"_type":177,"marks":28955,"text":10958},"f23e1d8ef3a70",[],[],{"_key":28958,"_type":173,"children":28959,"markDefs":28963,"style":182},"79ef5923873c",[28960],{"_key":28961,"_type":177,"marks":28962,"text":12234},"7e47e60f1f660",[],[],{"_key":28965,"_type":173,"children":28966,"markDefs":28971,"style":182},"f15fdb727cc9",[28967],{"_key":28968,"_type":177,"marks":28969,"text":28970},"f780df3972120",[],"Hunting PLC is an international energy services provider to the world's leading upstream oil and gas companies. Established in 1874, it is a premium listed public company traded on the London Stock Exchange. The Company maintains a corporate office in Houston and is headquartered in London. As well as the United Kingdom, the Company has principal operations in Canada, China, Hong Kong, Indonesia, Mexico, Netherlands, Singapore, South Africa, Thailand, United Arab Emirates and the United States of America.",[],{"_key":28973,"_type":173,"children":28974,"markDefs":28978,"style":182},"2ecabe77ae7d",[28975],{"_key":28976,"_type":177,"marks":28977,"text":1430},"2cda65d314260",[],[],[28980],{"_key":28981,"_ref":1713,"_type":141},"7fc4559f38d2",[28983],{"_key":28984,"_type":10023,"asset":28985,"title":28987},"6575d9177a77",{"_ref":28986,"_type":141},"file-12447b57d0b48798b467b7d6cc7c941653477f33-pdf","Download 2014 Half Year Results","2014-08-28T14:37:00.000Z",{"_type":9,"current":28990},"28-08-2014",[28992,28994],{"_key":28993,"_ref":7180,"_type":141},"65f63407130a",{"_key":28995,"_ref":15507,"_type":141},"65d0e62c601e","\u002Fnews\u002F28-08-2014",{"_createdAt":28998,"_id":28999,"_rev":12607,"_type":168,"_updatedAt":116,"body":29000,"categories":29493,"downloads":29496,"introText":29014,"publishedAt":29502,"slug":29503,"tags":29505,"title":19559,"url":29510},"2023-02-20T15:45:41Z","bb38d182-a52d-4998-adcd-6f4b7492cd9f",[29001,29008,29016,29024,29032,29040,29048,29056,29064,29072,29080,29088,29096,29104,29112,29126,29133,29141,29149,29157,29165,29173,29181,29189,29197,29205,29213,29221,29229,29236,29244,29252,29260,29268,29276,29284,29292,29300,29308,29316,29324,29332,29340,29348,29356,29364,29372,29386,29390,29401,29408,29418,29425,29433,29441,29449,29456,29463,29471,29478,29485],{"_key":29002,"_type":173,"children":29003,"markDefs":29007,"style":182},"9f62080b6a1d",[29004],{"_key":29005,"_type":177,"marks":29006,"text":20410},"f110bac144270",[],[],{"_key":29009,"_type":173,"children":29010,"markDefs":29015,"style":182},"493756611d89",[29011],{"_key":29012,"_type":177,"marks":29013,"text":29014},"988a1000a7190",[],"Hunting PLC (LSE:HTG) the international energy services group today announces its full year results for the year ended 31 December 2013. Following the change in presentational currency announcement on 5 December 2013, these results are reported in US dollars.",[],{"_key":29017,"_type":173,"children":29018,"markDefs":29023,"style":14843},"8f9293393e82",[29019],{"_key":29020,"_type":177,"marks":29021,"text":29022},"709516f01ad70",[],"Financial Highlights – continuing operations(1)",[],{"_key":29025,"_type":173,"children":29026,"level":955,"listItem":2555,"markDefs":29031,"style":182},"9962444c78b2",[29027],{"_key":29028,"_type":177,"marks":29029,"text":29030},"2449a1d907160",[],"Revenue $1,334.0m (2012 - $1,309.0m)",[],{"_key":29033,"_type":173,"children":29034,"level":955,"listItem":2555,"markDefs":29039,"style":182},"e0214f68a016",[29035],{"_key":29036,"_type":177,"marks":29037,"text":29038},"93f44f2469f40",[],"Underlying profit from operations $198.5m (2012 - $202.5m)",[],{"_key":29041,"_type":173,"children":29042,"level":955,"listItem":2555,"markDefs":29047,"style":182},"796131da6f28",[29043],{"_key":29044,"_type":177,"marks":29045,"text":29046},"dfbdd5795b620",[],"Reported profit from operations $137.4m (2012 - $134.6m)",[],{"_key":29049,"_type":173,"children":29050,"level":955,"listItem":2555,"markDefs":29055,"style":182},"dc2b78afaea5",[29051],{"_key":29052,"_type":177,"marks":29053,"text":29054},"2c74ef2513410",[],"Underlying profit before tax $196.1m (2012 - $195.3m)",[],{"_key":29057,"_type":173,"children":29058,"level":955,"listItem":2555,"markDefs":29063,"style":182},"6ea5c51cf5e0",[29059],{"_key":29060,"_type":177,"marks":29061,"text":29062},"192db63eaaa10",[],"Reported profit before tax $135.0m (2012 - $127.4m)",[],{"_key":29065,"_type":173,"children":29066,"level":955,"listItem":2555,"markDefs":29071,"style":182},"fb3fc35c4e85",[29067],{"_key":29068,"_type":177,"marks":29069,"text":29070},"53835cd0197e0",[],"Underlying profit for the year $144.0m (2012 - $140.6m)",[],{"_key":29073,"_type":173,"children":29074,"level":955,"listItem":2555,"markDefs":29079,"style":182},"22e46e5de11c",[29075],{"_key":29076,"_type":177,"marks":29077,"text":29078},"1d063edc490c0",[],"Reported profit for the year $106.2m (2012 - $99.2m)",[],{"_key":29081,"_type":173,"children":29082,"level":955,"listItem":2555,"markDefs":29087,"style":182},"f64cc9254bf3",[29083],{"_key":29084,"_type":177,"marks":29085,"text":29086},"ca0e34982ccc0",[],"Underlying diluted earnings per share 93.5 cents (2012 - 90.8 cents)",[],{"_key":29089,"_type":173,"children":29090,"level":955,"listItem":2555,"markDefs":29095,"style":182},"6396a2a852a8",[29091],{"_key":29092,"_type":177,"marks":29093,"text":29094},"c277c16777f20",[],"Reported diluted earnings per share 68.3 cents (2012 - 63.1 cents)",[],{"_key":29097,"_type":173,"children":29098,"level":955,"listItem":2555,"markDefs":29103,"style":182},"f1fa9c82eb40",[29099],{"_key":29100,"_type":177,"marks":29101,"text":29102},"5e5d2f8c597e0",[],"Final dividend of 21.8 cents proposed to be paid on 27 May 2014 to shareholders on the register on 2 May 2014 (2012 - 21.3 cents)",[],{"_key":29105,"_type":173,"children":29106,"level":955,"listItem":2555,"markDefs":29111,"style":182},"1bc8d3ee899c",[29107],{"_key":29108,"_type":177,"marks":29109,"text":29110},"3ae52a917da30",[],"Net debt $205.8m (2012 - $266.4m)",[],{"_key":29113,"_type":173,"children":29114,"markDefs":29125,"style":182},"6f0ca7eb1c04",[29115,29118,29121],{"_key":29116,"_type":177,"marks":29117,"text":10596},"2f26ba6d9fed0",[216],{"_key":29119,"_type":177,"marks":29120,"text":15101},"2f26ba6d9fed1",[],{"_key":29122,"_type":177,"marks":29123,"text":29124},"2f26ba6d9fed2",[216],"- Underlying results are based on continuing operations before amortisation and exceptional items. Reported results are based on the statutory results for continuing operations as reported under International Financial Reporting Standards.",[],{"_key":29127,"_type":173,"children":29128,"markDefs":29132,"style":14843},"b3758741d97f",[29129],{"_key":29130,"_type":177,"marks":29131,"text":28267},"0142c275fee40",[],[],{"_key":29134,"_type":173,"children":29135,"markDefs":29140,"style":182},"6180544ba111",[29136],{"_key":29137,"_type":177,"marks":29138,"text":29139},"57a1745f087d0",[179],"Profits driven by activity in North America and Asia:",[],{"_key":29142,"_type":173,"children":29143,"markDefs":29148,"style":182},"d7ff4bb18dab",[29144],{"_key":29145,"_type":177,"marks":29146,"text":29147},"6622918b29670",[216],"Well Construction",[],{"_key":29150,"_type":173,"children":29151,"level":955,"listItem":2555,"markDefs":29156,"style":182},"e0d62f2337ac",[29152],{"_key":29153,"_type":177,"marks":29154,"text":29155},"3d6379bc53ba0",[],"Premium Connections - strong activity in Gulf of Mexico being offset by flat onshore activity;",[],{"_key":29158,"_type":173,"children":29159,"level":955,"listItem":2555,"markDefs":29164,"style":182},"0c1ce3f73aab",[29160],{"_key":29161,"_type":177,"marks":29162,"text":29163},"5592f98c18840",[],"Drilling Tools - 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delivering good growth in revenue and profits with increased market share in the United States and progressive internationalisation of the business;",[],{"_key":29198,"_type":173,"children":29199,"level":955,"listItem":2555,"markDefs":29204,"style":182},"bc681238ff70",[29200],{"_key":29201,"_type":177,"marks":29202,"text":29203},"fe91cd8079fa0",[],"Manufacturing and Accessories - growing in line with Gulf of Mexico drilling activity;",[],{"_key":29206,"_type":173,"children":29207,"level":955,"listItem":2555,"markDefs":29212,"style":182},"4a5ff4e30e95",[29208],{"_key":29209,"_type":177,"marks":29210,"text":29211},"c16005769d380",[],"Canada - drilling subdued due to weather conditions;",[],{"_key":29214,"_type":173,"children":29215,"level":955,"listItem":2555,"markDefs":29220,"style":182},"e418b4b3737a",[29216],{"_key":29217,"_type":177,"marks":29218,"text":29219},"a614a7ab6a190",[],"Asia Pacific - ahead of expectations, due to increasing market share and new activity in emerging markets;",[],{"_key":29222,"_type":173,"children":29223,"level":955,"listItem":2555,"markDefs":29228,"style":182},"60740d61c34f",[29224],{"_key":29225,"_type":177,"marks":29226,"text":29227},"16438ab268b90",[],"Europe - 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adding 181,000 sq ft to manufacturing capacity;",[],{"_key":29285,"_type":173,"children":29286,"level":955,"listItem":2555,"markDefs":29291,"style":182},"e1330aa2978d",[29287],{"_key":29288,"_type":177,"marks":29289,"text":29290},"37659a1086860",[],"$18.8m expansion of Hunting Dearborn adding 36% to manufacturing capacity;",[],{"_key":29293,"_type":173,"children":29294,"level":955,"listItem":2555,"markDefs":29299,"style":182},"f58a17a850fc",[29295],{"_key":29296,"_type":177,"marks":29297,"text":29298},"ca8dff33260c0",[],"$20.0m green field development in Cape Town, South Africa to service accelerating sub-Sahara activity;",[],{"_key":29301,"_type":173,"children":29302,"level":955,"listItem":2555,"markDefs":29307,"style":182},"9f94d2ba0920",[29303],{"_key":29304,"_type":177,"marks":29305,"text":29306},"4a2b3e988b910",[],"$3.8m to establish a facility to market Hunting’s products in Saudi Arabia, operational mid-2014.",[],{"_key":29309,"_type":173,"children":29310,"markDefs":29315,"style":182},"2224d04b9574",[29311],{"_key":29312,"_type":177,"marks":29313,"text":29314},"0ba22ea2c9990",[179],"New products developed and introduced to customers:",[],{"_key":29317,"_type":173,"children":29318,"level":955,"listItem":2555,"markDefs":29323,"style":182},"430b7bbf9c06",[29319],{"_key":29320,"_type":177,"marks":29321,"text":29322},"e6095f65d1840",[],"WEDGE-LOCK™ and SEAL-LOCK XD™ premium connection product lines introduced to customers during year;",[],{"_key":29325,"_type":173,"children":29326,"level":955,"listItem":2555,"markDefs":29331,"style":182},"45c82269a4f0",[29327],{"_key":29328,"_type":177,"marks":29329,"text":29330},"f5e7ca76d65a0",[],"New generation Hunting Titan ControlFire™ detonation switch introduced to enhance in-field operational performance;",[],{"_key":29333,"_type":173,"children":29334,"level":955,"listItem":2555,"markDefs":29339,"style":182},"09adf630409a",[29335],{"_key":29336,"_type":177,"marks":29337,"text":29338},"18d2e6e5c10c0",[],"New Hunting Titan perforating gun systems introduced for short lateral wellbores and heavy oil applications.",[],{"_key":29341,"_type":173,"children":29342,"markDefs":29347,"style":182},"003923a7e4ca",[29343],{"_key":29344,"_type":177,"marks":29345,"text":29346},"e633fc6316ad0",[179],"Global expansion and synergies captured:",[],{"_key":29349,"_type":173,"children":29350,"level":955,"listItem":2555,"markDefs":29355,"style":182},"d12bc448cb4e",[29351],{"_key":29352,"_type":177,"marks":29353,"text":29354},"fc62ef5b31780",[],"Expansion of sales presence within Asia Pacific - offices established in Shanghai, China; Jakarta, Indonesia and Perth, Australia;",[],{"_key":29357,"_type":173,"children":29358,"level":955,"listItem":2555,"markDefs":29363,"style":182},"1149143dfc43",[29359],{"_key":29360,"_type":177,"marks":29361,"text":29362},"4580b7c7aaff0",[],"Hunting Titan perforating guns commenced manufacture at Monterrey, Mexico; Calgary, Canada and Wuxi, China. Distribution centre for perforating guns and accessories established in Jakarta, Indonesia;",[],{"_key":29365,"_type":173,"children":29366,"level":955,"listItem":2555,"markDefs":29371,"style":182},"6396d63976fd",[29367],{"_key":29368,"_type":177,"marks":29369,"text":29370},"b216c121004f0",[],"Hunting AMG sales presence developed in Asia Pacific.",[],{"_key":29373,"_type":173,"children":29374,"markDefs":29385,"style":182},"eda38e2bded8",[29375,29378,29381],{"_key":29376,"_type":177,"marks":29377,"text":28419},"3bfd3847a62c0",[179],{"_key":29379,"_type":177,"marks":29380,"text":15101},"3bfd3847a62c1",[],{"_key":29382,"_type":177,"marks":29383,"text":29384},"3bfd3847a62c2",[179,216],"before amortisation, exceptional items, interest and share of associates’ post-tax profits.",[],{"_key":29387,"_type":146,"asset":29388},"cbcb62972526",{"_ref":29389,"_type":141},"image-dc6d173b34ef03512bad915116ae10aabfd2b6f9-945x900-jpg",{"_key":29391,"_type":173,"children":29392,"markDefs":29400,"style":182},"e8e6c05155a3",[29393,29396],{"_key":29394,"_type":177,"marks":29395,"text":1430},"dbd38bc00e64",[],{"_key":29397,"_type":177,"marks":29398,"text":29399},"46a60324fed9",[],"An analyst presentation and webcast will be held at 10.30a.m. today at the offices of Buchanan, 107 Cheapside, London, EC2V 6DN. For details of access to the webcast, please contact Buchanan.",[],{"_key":29402,"_type":173,"children":29403,"markDefs":29407,"style":182},"a0fb0c4c4eac",[29404],{"_key":29405,"_type":177,"marks":29406,"text":23909},"326c70836dba0",[],[],{"_key":29409,"_type":173,"children":29410,"markDefs":29416,"style":182},"2a6182ae1361",[29411],{"_key":29412,"_type":177,"marks":29413,"text":29415},"1dd68875dc250",[29414],"a633e47998e7","http:\u002F\u002Fmediaserve.buchanan.uk.com\u002F2014\u002Fhunting060314\u002Fregistration.asp",[29417],{"_key":29414,"_type":138,"href":29415},{"_key":29419,"_type":173,"children":29420,"markDefs":29424,"style":182},"50c9c6ea21ba",[29421],{"_key":29422,"_type":177,"marks":29423,"text":25644},"1639479140730",[],[],{"_key":29426,"_type":173,"children":29427,"markDefs":29432,"style":13454},"e966f8c4f6a3",[29428],{"_key":29429,"_type":177,"marks":29430,"text":29431},"6377a5fe71c50",[216],"“These results together with strong cash flows demonstrate the robust platform of Hunting’s global businesses. While the Group experienced a number of trading disappointments during 2013, including customers unwinding inventories and project deferrals, other areas of the Group delivered an excellent performance.",[],{"_key":29434,"_type":173,"children":29435,"markDefs":29440,"style":13454},"55c61f0455e3",[29436],{"_key":29437,"_type":177,"marks":29438,"text":29439},"1b98e5a0dd8b0",[216],"“Looking forward we anticipate a stable commodity price and investment environment within the industry, with early indications of continued growth in capital expenditures within our customer base, which should support further growth during 2014.",[],{"_key":29442,"_type":173,"children":29443,"markDefs":29448,"style":13454},"3820c0ff2603",[29444],{"_key":29445,"_type":177,"marks":29446,"text":29447},"03d1d1b87fcf0",[216],"“2013 has seen a year of continued internal investment, which will ensure Hunting is well positioned in the medium term to serve both existing and emerging market growth for our product lines.”",[],{"_key":29450,"_type":173,"children":29451,"markDefs":29455,"style":182},"927a41fb6d6f",[29452],{"_key":29453,"_type":177,"marks":29454,"text":1126},"128a4f3e05460",[179],[],{"_key":29457,"_type":173,"children":29458,"markDefs":29462,"style":182},"75417e104ae3",[29459],{"_key":29460,"_type":177,"marks":29461,"text":27846},"018086e31f9b0",[],[],{"_key":29464,"_type":173,"children":29465,"markDefs":29470,"style":182},"a01cb8b8d5a3",[29466],{"_key":29467,"_type":177,"marks":29468,"text":29469},"362012ffe23b0",[],"Buchanan\nRichard Darby\nGabriella Clinkard Tel: +44 (0) 20 7466 5000",[],{"_key":29472,"_type":173,"children":29473,"markDefs":29477,"style":14843},"6c81a29fc428",[29474],{"_key":29475,"_type":177,"marks":29476,"text":10958},"ca572ec6b487",[],[],{"_key":29479,"_type":173,"children":29480,"markDefs":29484,"style":182},"48743a0420a1",[29481],{"_key":29482,"_type":177,"marks":29483,"text":12234},"e93c334805ee0",[179],[],{"_key":29486,"_type":173,"children":29487,"markDefs":29492,"style":182},"f938b28643da",[29488],{"_key":29489,"_type":177,"marks":29490,"text":29491},"35abe3e76b290",[],"Hunting PLC is an international energy services provider to the world's leading upstream oil and gas companies. Established in 1874, it is a premium listed public company traded on the London Stock Exchange. The Company maintains a corporate office in Houston and is headquartered in London. As well as the United Kingdom, the Company has principal operations in Canada, China, Hong Kong, Indonesia, Mexico, Netherlands, Singapore, Thailand, United Arab Emirates and the United States of America.",[],[29494],{"_key":29495,"_ref":1713,"_type":141},"d78bbcdb53aa",[29497],{"_key":29498,"_type":10023,"asset":29499,"title":29501},"e59f6563db0b",{"_ref":29500,"_type":141},"file-ee6af532b55f52ea023445e148cbc9fd18238d7e-pdf","Download 2013 Full Year Results","2014-03-06T15:45:00.000Z",{"_type":9,"current":29504},"06-03-2014",[29506,29508],{"_key":29507,"_ref":7180,"_type":141},"8ab7202d4c9d",{"_key":29509,"_ref":15507,"_type":141},"16503aac05bf","\u002Fnews\u002F06-03-2014",{"_createdAt":29512,"_id":29513,"_rev":7809,"_type":168,"_updatedAt":116,"body":29514,"categories":29796,"downloads":29799,"introText":29536,"publishedAt":29804,"slug":29805,"tags":29807,"title":20065,"url":29812},"2023-02-20T15:57:23Z","c16453cb-0efd-4319-b803-2e19cb8a664a",[29515,29522,29530,29538,29546,29554,29562,29570,29578,29586,29594,29602,29610,29617,29625,29633,29641,29649,29657,29665,29673,29681,29689,29697,29705,29713,29720,29728,29736,29743,29753,29760,29767,29774,29781,29788],{"_key":29516,"_type":173,"children":29517,"markDefs":29521,"style":182},"aa888d5c359e",[29518],{"_key":29519,"_type":177,"marks":29520,"text":20410},"e8c843f176190",[],[],{"_key":29523,"_type":173,"children":29524,"markDefs":29529,"style":182},"012b1252a06d",[29525],{"_key":29526,"_type":177,"marks":29527,"text":29528},"342dd54915e30",[],"Interim Results for the six months to 30 June 2013",[],{"_key":29531,"_type":173,"children":29532,"markDefs":29537,"style":182},"284dd079b376",[29533],{"_key":29534,"_type":177,"marks":29535,"text":29536},"c150b8f2e30b0",[],"Hunting PLC (LSE:HTG), the international energy services group, today announces its interim results for the six months to 30 June 2013.",[],{"_key":29539,"_type":173,"children":29540,"markDefs":29545,"style":14843},"d4aee1b71899",[29541],{"_key":29542,"_type":177,"marks":29543,"text":29544},"1c3420c00b580",[],"Financial Highlights - from continuing operation",[],{"_key":29547,"_type":173,"children":29548,"level":955,"listItem":2555,"markDefs":29553,"style":182},"af3dc9c4c043",[29549],{"_key":29550,"_type":177,"marks":29551,"text":29552},"aa987bf03f070",[],"Revenue £424.4m (H1 2012: £406.9m) +4.3%",[],{"_key":29555,"_type":173,"children":29556,"level":955,"listItem":2555,"markDefs":29561,"style":182},"ad4ea03bb214",[29557],{"_key":29558,"_type":177,"marks":29559,"text":29560},"2db1490073fc0",[],"Underlying EBITDA of £75.6m (H1 2012: £77.7m) -2.7%",[],{"_key":29563,"_type":173,"children":29564,"level":955,"listItem":2555,"markDefs":29569,"style":182},"267bf3f2c751",[29565],{"_key":29566,"_type":177,"marks":29567,"text":29568},"0463f21294310",[],"Underlying profit from operations of £61.2m (H1 2012: £64.7m) -5.4%",[],{"_key":29571,"_type":173,"children":29572,"level":955,"listItem":2555,"markDefs":29577,"style":182},"a50b288e1b12",[29573],{"_key":29574,"_type":177,"marks":29575,"text":29576},"d171124988fa0",[],"Reported profit from operations of £40.8m (H1 2012: £40.3m) +1.2%",[],{"_key":29579,"_type":173,"children":29580,"level":955,"listItem":2555,"markDefs":29585,"style":182},"55deae1dfd41",[29581],{"_key":29582,"_type":177,"marks":29583,"text":29584},"dea17c45ea9e0",[],"Underlying diluted earnings per share 27.3p (H1 2012: 28.4p) -3.9%",[],{"_key":29587,"_type":173,"children":29588,"level":955,"listItem":2555,"markDefs":29593,"style":182},"0afd965a9e7e",[29589],{"_key":29590,"_type":177,"marks":29591,"text":29592},"5a9ce223d5420",[],"Reported diluted earnings per share 18.5p (H1 2012: 18.3p) +1.1%",[],{"_key":29595,"_type":173,"children":29596,"level":955,"listItem":2555,"markDefs":29601,"style":182},"e15db3b7c300",[29597],{"_key":29598,"_type":177,"marks":29599,"text":29600},"1cb7732b00c20",[],"Interim dividend declared of 4.75p (H1 2012: 4.50p) +5.6%",[],{"_key":29603,"_type":173,"children":29604,"level":955,"listItem":2555,"markDefs":29609,"style":182},"fa5ea4acf706",[29605],{"_key":29606,"_type":177,"marks":29607,"text":29608},"c1b81c9258fa0",[],"Net debt of £158.8m (31 December 2012: £163.8m)",[],{"_key":29611,"_type":173,"children":29612,"markDefs":29616,"style":14843},"29c1f9f8c5e8",[29613],{"_key":29614,"_type":177,"marks":29615,"text":25548},"b7398d403ae00",[],[],{"_key":29618,"_type":173,"children":29619,"level":955,"listItem":2555,"markDefs":29624,"style":182},"a4606a45c3af",[29620],{"_key":29621,"_type":177,"marks":29622,"text":29623},"0c8571707d990",[],"Positive business performance reported across many Group operations including:",[],{"_key":29626,"_type":173,"children":29627,"level":3751,"listItem":2555,"markDefs":29632,"style":182},"9790f161a790",[29628],{"_key":29629,"_type":177,"marks":29630,"text":29631},"a20af2b726550",[],"strong results from Premium Connections and US Manufacturing driven by global offshore activity and North American oil shales;",[],{"_key":29634,"_type":173,"children":29635,"level":3751,"listItem":2555,"markDefs":29640,"style":182},"2fd575446fc6",[29636],{"_key":29637,"_type":177,"marks":29638,"text":29639},"d8452d96404a0",[],"improving operating environment for Drilling Tools, with market share captured in key oil focused shale basins;",[],{"_key":29642,"_type":173,"children":29643,"level":3751,"listItem":2555,"markDefs":29648,"style":182},"4c6e4dde021f",[29644],{"_key":29645,"_type":177,"marks":29646,"text":29647},"c3b85dea7d530",[],"good results from Hunting Titan with new sales strategies and increasing geographic footprint;",[],{"_key":29650,"_type":173,"children":29651,"level":3751,"listItem":2555,"markDefs":29656,"style":182},"e70c3e21dd66",[29652],{"_key":29653,"_type":177,"marks":29654,"text":29655},"0a30cf84746a0",[],"strengthening demand for Hunting Subsea products.",[],{"_key":29658,"_type":173,"children":29659,"level":955,"listItem":2555,"markDefs":29664,"style":182},"0353924dc911",[29660],{"_key":29661,"_type":177,"marks":29662,"text":29663},"28df02baf9410",[],"Continued investment in manufacturing footprint:",[],{"_key":29666,"_type":173,"children":29667,"level":3751,"listItem":2555,"markDefs":29672,"style":182},"370e52dc3434",[29668],{"_key":29669,"_type":177,"marks":29670,"text":29671},"1b74b70fc70f0",[],"purchase of 40 acre site in Houston, Texas is nearing completion, to provide additional premium threading capacity and accommodate a facility to develop, test and certify new premium connection thread designs - projected capital investment of US$54m;",[],{"_key":29674,"_type":173,"children":29675,"level":3751,"listItem":2555,"markDefs":29680,"style":182},"eb84753a8cdf",[29676],{"_key":29677,"_type":177,"marks":29678,"text":29679},"74cccc49de670",[],"due diligence nearing completion to purchase a 9 acre site in Cape Town, South Africa, to provide sub-Sahara manufacturing and repair capabilities - projected capital investment of US$20m;",[],{"_key":29682,"_type":173,"children":29683,"level":3751,"listItem":2555,"markDefs":29688,"style":182},"3daea6e72671",[29684],{"_key":29685,"_type":177,"marks":29686,"text":29687},"10061c3756d80",[],"commencement of US$36m phase two expansion at Houma, Louisiana to service offshore activity;",[],{"_key":29690,"_type":173,"children":29691,"level":3751,"listItem":2555,"markDefs":29696,"style":182},"a81d1729bb7c",[29692],{"_key":29693,"_type":177,"marks":29694,"text":29695},"48389c975b020",[],"Capital investment in the period of £20.1m (H1 2012: £37.2m);",[],{"_key":29698,"_type":173,"children":29699,"level":3751,"listItem":2555,"markDefs":29704,"style":182},"b027e6c9272f",[29700],{"_key":29701,"_type":177,"marks":29702,"text":29703},"5b79b82e0a470",[],"Number of employees 3,952 (31 December 2012: 3,866).",[],{"_key":29706,"_type":173,"children":29707,"level":955,"listItem":2555,"markDefs":29712,"style":182},"c581a662b95d",[29708],{"_key":29709,"_type":177,"marks":29710,"text":29711},"dfd4117e447b0",[],"Low rig activity levels in Canada and excess inventories held by customers of the Hunting Electronics and US Pipe businesses have adversely impacted underlying profit from operations in H1 2013 compared to H1 2012 by £7.1m. Rig activity levels have since improved and demand for our products and services has strengthened.",[],{"_key":29714,"_type":173,"children":29715,"markDefs":29719,"style":13454},"77eb09df6da1",[29716],{"_key":29717,"_type":177,"marks":29718,"text":25644},"ff1b7d38222b0",[179],[],{"_key":29721,"_type":173,"children":29722,"markDefs":29727,"style":13454},"4212207ba018",[29723],{"_key":29724,"_type":177,"marks":29725,"text":29726},"170ebe8e7aad0",[216],"“Hunting reports today underlying results broadly in line with the Group’s financial performance in the second half of 2012. We are pleased that momentum has been maintained throughout the first six months, with improving order book and activity levels reported in the majority of our businesses. Our confidence in the longer term outlook for the industry underpins the programme of capital investment to further expand the Group’s manufacturing capacity.”",[],{"_key":29729,"_type":173,"children":29730,"markDefs":29735,"style":182},"06b16c2f3386",[29731],{"_key":29732,"_type":177,"marks":29733,"text":29734},"746ee2fbb5800",[],"Hunting PLC will host an Analyst and Investor briefing on Thursday 29 August 2013 at 10.30am at the offices of Buchanan, 107 Cheapside, London, EC2V 6DN.",[],{"_key":29737,"_type":173,"children":29738,"markDefs":29742,"style":182},"4dbc30b21944",[29739],{"_key":29740,"_type":177,"marks":29741,"text":23909},"4ec7b35b1afa0",[179],[],{"_key":29744,"_type":173,"children":29745,"markDefs":29751,"style":182},"8acaaf553764",[29746],{"_key":29747,"_type":177,"marks":29748,"text":29750},"fb7c90a2e2550",[29749],"478d51b7a5f0","http:\u002F\u002Fmediaserve.buchanan.uk.com\u002F2013\u002Fhunting290813\u002Fregistration.asp",[29752],{"_key":29749,"_type":138,"href":29750},{"_key":29754,"_type":173,"children":29755,"markDefs":29759,"style":182},"7bc53e4cacc5",[29756],{"_key":29757,"_type":177,"marks":29758,"text":5318},"4e3f666039bb0",[179],[],{"_key":29761,"_type":173,"children":29762,"markDefs":29766,"style":182},"0542ff6b4869",[29763],{"_key":29764,"_type":177,"marks":29765,"text":27846},"76ffa8db3cac0",[],[],{"_key":29768,"_type":173,"children":29769,"markDefs":29773,"style":182},"b98d12b69919",[29770],{"_key":29771,"_type":177,"marks":29772,"text":27562},"9281dd5d2de40",[],[],{"_key":29775,"_type":173,"children":29776,"markDefs":29780,"style":14843},"9e9b430266c2",[29777],{"_key":29778,"_type":177,"marks":29779,"text":10958},"7fe543f284d80",[],[],{"_key":29782,"_type":173,"children":29783,"markDefs":29787,"style":182},"d2da942c1758",[29784],{"_key":29785,"_type":177,"marks":29786,"text":12234},"1f5db93a8c970",[179],[],{"_key":29789,"_type":173,"children":29790,"markDefs":29795,"style":182},"1cc376dd5a0e",[29791],{"_key":29792,"_type":177,"marks":29793,"text":29794},"c11ad65683d70",[],"Hunting PLC is an international energy services provider to the world's leading upstream oil and gas companies. Established in 1874, it is a fully listed public company traded on the London Stock Exchange. The Company maintains a corporate office in Houston and is headquartered in London. As well as the United Kingdom, the Company has principal operations in Canada, China, Hong Kong, Indonesia, Mexico, Netherlands, South Africa, Singapore, Thailand, United Arab Emirates and the United States of America.",[],[29797],{"_key":29798,"_ref":1713,"_type":141},"1b39d786a3d6",[29800],{"_key":29801,"_type":10023,"asset":29802,"title":15497},"0c858ee89163",{"_ref":29803,"_type":141},"file-21aa1583d9beddec71bfb3592fc42815d6f459f1-pdf","2013-08-29T14:53:00.000Z",{"_type":9,"current":29806},"29-08-2013",[29808,29810],{"_key":29809,"_ref":7180,"_type":141},"a0188ef383e7",{"_key":29811,"_ref":15507,"_type":141},"1728ee62eae4","\u002Fnews\u002F29-08-2013",{"_createdAt":29814,"_id":29815,"_rev":29816,"_type":168,"_updatedAt":116,"body":29817,"categories":29948,"introText":29832,"publishedAt":29951,"slug":29952,"tags":29954,"title":29957,"url":29958},"2023-02-20T15:59:07Z","495a415b-dec4-4d46-99a2-f3f20d466c1c","DBMO57ZIr7O8zFikjHd9qk",[29818,29826,29834,29842,29850,29858,29866,29874,29882,29890,29898,29906,29923,29930],{"_key":29819,"_type":173,"children":29820,"markDefs":29825,"style":14843},"d0a02080894c",[29821],{"_key":29822,"_type":177,"marks":29823,"text":29824},"15396bae4c130",[],"HOUSTON, June 7, 2013",[],{"_key":29827,"_type":173,"children":29828,"markDefs":29833,"style":182},"09bfcc00770f",[29829],{"_key":29830,"_type":177,"marks":29831,"text":29832},"ca4cc3dfa763",[],"Hunting PLC announced that it has presented a check in the amount of $125,000 to New Danville, a self-sustaining, master-planned community dedicated to providing adults with intellectual and developmental disabilities an opportunity to live, work, and grow with their non-disabled peers.",[],{"_key":29835,"_type":173,"children":29836,"markDefs":29841,"style":182},"91498c9cfdac",[29837],{"_key":29838,"_type":177,"marks":29839,"text":29840},"816188a5a7780",[],"The gift was made as part of the oilfield services company’s long-standing tradition of supporting a single well-deserving, Texas-based charity through a donation made on behalf of the Hunting Art Prize. It includes a direct donation as well as a contribution from Hunting that matches the dollars generated from the sale of art by finalists in the competition at the 2013 Hunting Art Prize gala, which was held on May 4 in Houston.",[],{"_key":29843,"_type":173,"children":29844,"markDefs":29849,"style":182},"2fa0ebe939a5",[29845],{"_key":29846,"_type":177,"marks":29847,"text":29848},"88dc6c109cc20",[],"Marshall K. Harris’ life-size graphite drawing “Round Up” B.F. Smith & Son Saddlery Circa 1940-1942 won this year’s $50,000 award, which is historically one of the largest in North America for painting and drawing.",[],{"_key":29851,"_type":173,"children":29852,"markDefs":29857,"style":182},"f896cf2d13ef",[29853],{"_key":29854,"_type":177,"marks":29855,"text":29856},"fa3571c186ea0",[],"Announcement of Hunting’s donation marks the second consecutive year the company has supported New Danville, which encourages self-reliance and autonomy by providing its residents with low-cost housing and access to educational sessions and enrichment activities that teach basic life and job skills.",[],{"_key":29859,"_type":173,"children":29860,"markDefs":29865,"style":182},"72785d6a0cb6",[29861],{"_key":29862,"_type":177,"marks":29863,"text":29864},"5276cd0e42790",[],"Thanks to Hunting’s contribution in 2012, the non-profit now serves more than 500 adults each week and will soon complete the construction of a 7,200-square-foot multi-use building, which will house woodshop activities and provide seating for 140 during lunch.",[],{"_key":29867,"_type":173,"children":29868,"markDefs":29873,"style":182},"a97ffd5f1214",[29869],{"_key":29870,"_type":177,"marks":29871,"text":29872},"0ba5a25d61f50",[],"“New Danville’s work is inspirational to say the very least, and we couldn’t be more honored to support all that they are doing in our community to give adults with disabilities a chance to live and thrive independently,” said Dennis Proctor, Chief Executive of Hunting PLC.",[],{"_key":29875,"_type":173,"children":29876,"markDefs":29881,"style":182},"449a6fc611b2",[29877],{"_key":29878,"_type":177,"marks":29879,"text":29880},"13a0a3c8053f0",[],"In addition to expanding its miniature horse therapy program and vegetable and herb gardening activities, New Danville has also begun production of a range of all-natural products – from body soaps and hand lotions to sea salts, sugar scrubs, and lip balms. Sales of these items support the self-sustaining operations of the community.",[],{"_key":29883,"_type":173,"children":29884,"markDefs":29889,"style":182},"f43997318a9a",[29885],{"_key":29886,"_type":177,"marks":29887,"text":29888},"491c1b8adddf0",[],"Kathy Sanders, Founder and President of New Danville, said, ",[],{"_key":29891,"_type":173,"children":29892,"markDefs":29897,"style":13454},"4ed195a81fa3",[29893],{"_key":29894,"_type":177,"marks":29895,"text":29896},"73216dd43366",[],"“It couldn’t be more rewarding to see the difference we are able to make in the lives of others thanks to Hunting’s generosity. From expanding our physical space to growing our programs and services, their gifts have played – and will continue to play – an important role in transforming the lives of the individuals we serve.”",[],{"_key":29899,"_type":173,"children":29900,"markDefs":29905,"style":182},"fb1e7622d21a",[29901],{"_key":29902,"_type":177,"marks":29903,"text":29904},"510f2db4638f0",[216,179],"About New Danville",[],{"_key":29907,"_type":173,"children":29908,"markDefs":29921,"style":182},"38c68dddff79",[29909,29913,29918],{"_key":29910,"_type":177,"marks":29911,"text":29912},"55a5f20541f20",[],"New Danville is a self-sustaining, master-planned community where adults with intellectual and developmental disabilities can live, learn, and work with their non-disabled peers. By bringing together like-minded individuals through educational programs and enrichment activities, the charitable organization provides a safe and caring environment that encourages independence and personal growth. For further information, visit ",{"_key":29914,"_type":177,"marks":29915,"text":29917},"55a5f20541f21",[29916],"2ef7a28d0a33","http:\u002F\u002Fnewdanville.org\u002F",{"_key":29919,"_type":177,"marks":29920,"text":3208},"55a5f20541f22",[],[29922],{"_key":29916,"_type":138,"href":29917},{"_key":29924,"_type":173,"children":29925,"markDefs":29929,"style":182},"587c176e357e",[29926],{"_key":29927,"_type":177,"marks":29928,"text":12234},"2ef2e0d094b60",[216,179],[],{"_key":29931,"_type":173,"children":29932,"markDefs":29945,"style":182},"a756432ed1b8",[29933,29937,29942],{"_key":29934,"_type":177,"marks":29935,"text":29936},"11700670c8380",[],"Hunting PLC is an international oil services company providing support solutions to the world’s largest oil and gas concerns. Established in 1874, it is a fully listed public company, traded on the London Stock Exchange. For further information, visit ",{"_key":29938,"_type":177,"marks":29939,"text":29941},"11700670c8381",[29940],"4221dd6983d6","www.hunting.plc.uk",{"_key":29943,"_type":177,"marks":29944,"text":3208},"11700670c8382",[],[29946],{"_key":29940,"_type":138,"href":29947},"http:\u002F\u002Fwww.hunting.plc.uk\u002F",[29949],{"_key":29950,"_ref":1713,"_type":141},"add8da10393d","2013-06-07T14:58:00.000Z",{"_type":9,"current":29953},"07-06-2013",[29955],{"_key":29956,"_ref":7180,"_type":141},"765d5a2958b3","Hunting Plc Donates $125,000 To New Danville","\u002Fnews\u002F07-06-2013",{"_createdAt":29960,"_id":29961,"_rev":8787,"_type":168,"_updatedAt":116,"body":29962,"categories":30116,"introText":29984,"publishedAt":30119,"slug":30120,"tags":30122,"title":30127,"url":30128},"2023-02-20T16:00:53Z","a167e96a-809e-4442-bf9b-d7bd85016b62",[29963,29970,29978,29986,29994,30002,30010,30018,30026,30041,30049,30057,30071,30079,30094,30101],{"_key":29964,"_type":173,"children":29965,"markDefs":29969,"style":182},"d3492193085b",[29966],{"_key":29967,"_type":177,"marks":29968,"text":20410},"3de4c839a4260",[],[],{"_key":29971,"_type":173,"children":29972,"markDefs":29977,"style":14843},"973cb96cb580",[29973],{"_key":29974,"_type":177,"marks":29975,"text":29976},"1d3085212ed00",[],"HOUSTON, May 7, 2013 ",[],{"_key":29979,"_type":173,"children":29980,"markDefs":29985,"style":182},"33a75225662e",[29981],{"_key":29982,"_type":177,"marks":29983,"text":29984},"cbc8a54f52f7",[],"Hunting PLC announced that \"Round Up\" B.F. Smith & Son Saddlery Circa 1940-1942 by Fort Worth artist Marshall Harris is the winner of the $50,000 Hunting Art Prize for 2013.",[],{"_key":29987,"_type":173,"children":29988,"markDefs":29993,"style":182},"8e233d3027c1",[29989],{"_key":29990,"_type":177,"marks":29991,"text":29992},"94a0c87bcba50",[],"The life-size graphite drawing was selected from over 100 finalists in the 33rd annual award program, which is sponsored by the global oil services company and is the most generous annual art prize in North America for painting and drawing.",[],{"_key":29995,"_type":173,"children":29996,"markDefs":30001,"style":13454},"b40224d7f104",[29997],{"_key":29998,"_type":177,"marks":29999,"text":30000},"d10561e3cffa0",[],"The announcement came during an evening awards gala on Saturday, May 4, at the Friedkin Companies Campus, Gulf States Toyota, in Houston.",[],{"_key":30003,"_type":173,"children":30004,"markDefs":30009,"style":13454},"3142d737a1f8",[30005],{"_key":30006,"_type":177,"marks":30007,"text":30008},"11c73820e2460",[],"\"Being recognized through this platform is such an extraordinary honor, and I couldn't be more thankful to Hunting for all they have done to expand and broaden the reach of so many artists through the course of this competition,\" said Harris. \"The Hunting Art Prize has generously boosted the careers of some well-deserving individuals over the years, and it is very humbling, to say the least, to be included among such a strong and talented group of winners.\"",[],{"_key":30011,"_type":173,"children":30012,"markDefs":30017,"style":182},"ab4ce5ab9c37",[30013],{"_key":30014,"_type":177,"marks":30015,"text":30016},"964f40ad4f840",[],"Harris explores texturally beautiful elements and subjects related to history, humanity, and social dynamics by creating elaborate, life-size drawings as well as large sculptural installations and assemblies using found objects, lighting, motors, sound, and video.",[],{"_key":30019,"_type":173,"children":30020,"markDefs":30025,"style":182},"66c3680606ae",[30021],{"_key":30022,"_type":177,"marks":30023,"text":30024},"1becfac61e3f0",[],"His works have been shown in a number of solo and group exhibitions throughout Texas and across the nation. His art is currently being displayed at the Mary Tomás Gallery in Dallas and the Sylvia White Gallery in Ventura, California.",[],{"_key":30027,"_type":173,"children":30028,"markDefs":30038,"style":182},"8c144b5d5040",[30029,30033],{"_key":30030,"_type":177,"marks":30031,"text":30032},"a9d227ce07b40",[],"Harris has been published on several occasions. He earned a Bachelor of Fine Arts from Texas Christian University in Fort Worth as well as a Master of Fine Arts from The University of the Arts in Philadelphia. For more information about the 2013 winner, visit: ",{"_key":30034,"_type":177,"marks":30035,"text":30037},"a9d227ce07b41",[30036],"07513b1514d2","http:\u002F\u002Fmarshallharrisstudios.com",[30039],{"_key":30036,"_type":138,"href":30040},"http:\u002F\u002Fmarshallharrisstudios.com\u002F",{"_key":30042,"_type":173,"children":30043,"markDefs":30048,"style":182},"c67277215c6f",[30044],{"_key":30045,"_type":177,"marks":30046,"text":30047},"12d761bf1f0b0",[],"The Hunting Art Prize is open to amateur, up-and-coming, and established artists in Texas who are 18 years of age or older. This year's competition saw more than 1,600 entries from a number of cities and towns throughout the state. Submissions underwent a two-tiered jury process, after which nationally respected judges from Texas, Tennessee, and Delaware selected Harris' work as the winner.",[],{"_key":30050,"_type":173,"children":30051,"markDefs":30056,"style":182},"1bf31c0bf9cc",[30052],{"_key":30053,"_type":177,"marks":30054,"text":30055},"dab2e29bf66c0",[],"On behalf of the 2013 competition, Hunting PLC will present a charitable contribution at an upcoming event to New Danville, a self-sustaining, master-planned community supporting adults with intellectual and developmental disabilities. This is the second consecutive year the nonprofit has been selected as the Hunting Art Prize charity.",[],{"_key":30058,"_type":173,"children":30059,"markDefs":30068,"style":182},"62e32f4fd8f3",[30060,30063],{"_key":30061,"_type":177,"marks":30062,"text":28020},"b5d1da577a2e0",[],{"_key":30064,"_type":177,"marks":30065,"text":30067},"b5d1da577a2e1",[30066],"acf1b1972644","www.huntingartprize.com",[30069],{"_key":30066,"_type":138,"href":30070},"http:\u002F\u002Fwww.huntingartprize.com\u002F",{"_key":30072,"_type":173,"children":30073,"markDefs":30078,"style":14843},"c97102072306",[30074],{"_key":30075,"_type":177,"marks":30076,"text":30077},"4131b812b9900",[],"About the 2013 Hunting Art Prize Charity",[],{"_key":30080,"_type":173,"children":30081,"markDefs":30092,"style":182},"29a80006461c",[30082,30085,30089],{"_key":30083,"_type":177,"marks":30084,"text":29912},"876ea4f571d80",[],{"_key":30086,"_type":177,"marks":30087,"text":29917},"876ea4f571d81",[30088],"424eb244b7f3",{"_key":30090,"_type":177,"marks":30091,"text":3208},"876ea4f571d82",[],[30093],{"_key":30088,"_type":138,"href":29917},{"_key":30095,"_type":173,"children":30096,"markDefs":30100,"style":14843},"f541fb464750",[30097],{"_key":30098,"_type":177,"marks":30099,"text":12234},"b99cfa8164e60",[179],[],{"_key":30102,"_type":173,"children":30103,"markDefs":30114,"style":182},"5a03a3ef57a4",[30104,30107,30111],{"_key":30105,"_type":177,"marks":30106,"text":29936},"c9d879a1798b0",[],{"_key":30108,"_type":177,"marks":30109,"text":29941},"c9d879a1798b1",[30110],"bc961844be28",{"_key":30112,"_type":177,"marks":30113,"text":3208},"c9d879a1798b2",[],[30115],{"_key":30110,"_type":138,"href":29947},[30117],{"_key":30118,"_ref":1713,"_type":141},"b6e5f9e31c81","2013-05-07T14:59:00.000Z",{"_type":9,"current":30121},"07-05-2013",[30123,30125],{"_key":30124,"_ref":7180,"_type":141},"3810735ac345",{"_key":30126,"_ref":28088,"_type":141},"b10a9315bd47","Marshall Harris Wins 2013 Hunting Art Prize","\u002Fnews\u002F07-05-2013",{"_createdAt":30130,"_id":30131,"_rev":16359,"_type":168,"_updatedAt":116,"body":30132,"categories":30448,"downloads":30451,"introText":30457,"publishedAt":30458,"slug":30459,"tags":30461,"title":19559,"url":30466},"2023-02-20T16:03:43Z","8c146138-4407-4e1c-b339-88a1b4c6a932",[30133,30140,30148,30156,30164,30172,30180,30188,30196,30204,30212,30220,30228,30236,30243,30251,30259,30267,30275,30283,30291,30299,30307,30315,30323,30331,30339,30353,30360,30364,30372,30380,30388,30396,30404,30411,30418,30426,30433,30440],{"_key":30134,"_type":173,"children":30135,"markDefs":30139,"style":182},"78fa4b31f22a",[30136],{"_key":30137,"_type":177,"marks":30138,"text":20410},"dbfff11b24170",[],[],{"_key":30141,"_type":173,"children":30142,"markDefs":30147,"style":182},"c0377ecbfc20",[30143],{"_key":30144,"_type":177,"marks":30145,"text":30146},"213800eafc870",[],"Hunting PLC (LSE:HTG) the international energy services group today announces its full year results for the year ended 31 December 2012.",[],{"_key":30149,"_type":173,"children":30150,"markDefs":30155,"style":14843},"999d10a81b0f",[30151],{"_key":30152,"_type":177,"marks":30153,"text":30154},"bebc09bb39d80",[],"Financial Highlights – continuing operations*",[],{"_key":30157,"_type":173,"children":30158,"level":955,"listItem":2555,"markDefs":30163,"style":182},"5d10fae44a35",[30159],{"_key":30160,"_type":177,"marks":30161,"text":30162},"56ee27cde0400",[],"Revenue £825.8m (2011 - 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£38.8m) +108%",[],{"_key":30197,"_type":173,"children":30198,"level":955,"listItem":2555,"markDefs":30203,"style":182},"4dd9647f16f5",[30199],{"_key":30200,"_type":177,"marks":30201,"text":30202},"cfed30aba7240",[],"Underlying diluted earnings per share 57.5p (2011 - 38.7p)+49%",[],{"_key":30205,"_type":173,"children":30206,"level":955,"listItem":2555,"markDefs":30211,"style":182},"1a7ace08372d",[30207],{"_key":30208,"_type":177,"marks":30209,"text":30210},"57a97be2975a0",[],"Reported diluted earnings per share 40.0p (2011 - 20.3p)+97%",[],{"_key":30213,"_type":173,"children":30214,"level":955,"listItem":2555,"markDefs":30219,"style":182},"014eb5c85dc8",[30215],{"_key":30216,"_type":177,"marks":30217,"text":30218},"2e52d9dddea20",[],"Final dividend of 14.0p proposed to be paid on 1 July 2013 to shareholders on the register on\n14 June 2013 (2011 - 11.0p)+27%",[],{"_key":30221,"_type":173,"children":30222,"level":955,"listItem":2555,"markDefs":30227,"style":182},"d227defeb68f",[30223],{"_key":30224,"_type":177,"marks":30225,"text":30226},"52c582c149d30",[],"Net debt £163.8m (2011 - £218.4m)",[],{"_key":30229,"_type":173,"children":30230,"markDefs":30235,"style":182},"a3e1de584401",[30231],{"_key":30232,"_type":177,"marks":30233,"text":30234},"05c9e1d8df7a0",[216],"* Underlying results are based on continuing operations before amortisation and exceptional items. Reported results are based on the statutory results for continuing operations as reported under International Financial Reporting Standards.",[],{"_key":30237,"_type":173,"children":30238,"markDefs":30242,"style":14843},"b044531608e2",[30239],{"_key":30240,"_type":177,"marks":30241,"text":9293},"750df4b0a4390",[],[],{"_key":30244,"_type":173,"children":30245,"level":955,"listItem":2555,"markDefs":30250,"style":182},"62adeafb3e9a",[30246],{"_key":30247,"_type":177,"marks":30248,"text":30249},"a5d91f84b32a0",[],"Continued integration of Hunting Titan products across the Group:",[],{"_key":30252,"_type":173,"children":30253,"level":3751,"listItem":2555,"markDefs":30258,"style":182},"2939862596a6",[30254],{"_key":30255,"_type":177,"marks":30256,"text":30257},"025f3490e31b0",[],"components being manufactured at three Hunting facilities",[],{"_key":30260,"_type":173,"children":30261,"level":3751,"listItem":2555,"markDefs":30266,"style":182},"03bb55522406",[30262],{"_key":30263,"_type":177,"marks":30264,"text":30265},"9eaa7b17d1a50",[],"sales personnel appointed in Aberdeen, Calgary, Dubai and Singapore",[],{"_key":30268,"_type":173,"children":30269,"level":3751,"listItem":2555,"markDefs":30274,"style":182},"8f0ef00adf87",[30270],{"_key":30271,"_type":177,"marks":30272,"text":30273},"3b6020fe6eab0",[],"site secured in UK to distribute Hunting Titan products across the EMEA region",[],{"_key":30276,"_type":173,"children":30277,"level":955,"listItem":2555,"markDefs":30282,"style":182},"fca603155a6e",[30278],{"_key":30279,"_type":177,"marks":30280,"text":30281},"1e286f34e8010",[],"Good progress with ‘Sole Supplier’ concept within Advanced Manufacturing Group",[],{"_key":30284,"_type":173,"children":30285,"level":955,"listItem":2555,"markDefs":30290,"style":182},"c50518046c31",[30286],{"_key":30287,"_type":177,"marks":30288,"text":30289},"cb031c93b5920",[],"Facilities footprint now exceeding 2.7m square feet, reflecting investment and ongoing facility consolidation",[],{"_key":30292,"_type":173,"children":30293,"level":955,"listItem":2555,"markDefs":30298,"style":182},"79f5448b31ec",[30294],{"_key":30295,"_type":177,"marks":30296,"text":30297},"d0c58c9805bf0",[],"Capital expenditure in the year increased to £61.6m (2011 - £58.0m) and includes:",[],{"_key":30300,"_type":173,"children":30301,"level":3751,"listItem":2555,"markDefs":30306,"style":182},"328ffc86f682",[30302],{"_key":30303,"_type":177,"marks":30304,"text":30305},"e6679ea631690",[],"Completion of deepwater facility at Houma, Louisiana to service Gulf of Mexico activities",[],{"_key":30308,"_type":173,"children":30309,"level":3751,"listItem":2555,"markDefs":30314,"style":182},"45158de631fa",[30310],{"_key":30311,"_type":177,"marks":30312,"text":30313},"736252a6afc90",[],"Further investment at Wuxi, China to manufacture Hunting Titan products",[],{"_key":30316,"_type":173,"children":30317,"level":3751,"listItem":2555,"markDefs":30322,"style":182},"862e2b2251c9",[30318],{"_key":30319,"_type":177,"marks":30320,"text":30321},"74733c825f280",[],"Two new distribution centres opened in North America to service onshore drilling activity",[],{"_key":30324,"_type":173,"children":30325,"level":955,"listItem":2555,"markDefs":30330,"style":182},"6979c50deb29",[30326],{"_key":30327,"_type":177,"marks":30328,"text":30329},"ccc013a6f0c20",[],"Enlarged facility at Stafford completed providing increased capacity for Hunting Subsea",[],{"_key":30332,"_type":173,"children":30333,"level":955,"listItem":2555,"markDefs":30338,"style":182},"3ac19f187227",[30334],{"_key":30335,"_type":177,"marks":30336,"text":30337},"9ffd139757e40",[],"Disposal of Field Aviation in April 2012 for £7.5m",[],{"_key":30340,"_type":173,"children":30341,"markDefs":30352,"style":182},"40b2db5bf150",[30342,30345,30348],{"_key":30343,"_type":177,"marks":30344,"text":28419},"fc4fc19f1aa60",[179],{"_key":30346,"_type":177,"marks":30347,"text":15101},"fc4fc19f1aa61",[],{"_key":30349,"_type":177,"marks":30350,"text":30351},"fc4fc19f1aa62",[179,216],"before amortisation, exceptional items, interest and share of post-tax profit of associates",[],{"_key":30354,"_type":173,"children":30355,"markDefs":30359,"style":182},"5d081d12c7b1",[30356],{"_key":30357,"_type":177,"marks":30358,"text":180},"aa85f1e9cfc6",[],[],{"_key":30361,"_type":146,"asset":30362},"61bef5910932",{"_ref":30363,"_type":141},"image-7abf778b3b04c5d7169794c9cd90c96dc90eda55-948x911-jpg",{"_key":30365,"_type":173,"children":30366,"markDefs":30371,"style":182},"c509ed8a07d3",[30367],{"_key":30368,"_type":177,"marks":30369,"text":30370},"f63bf347d58d0",[],"An analyst presentation will be held at 10.30a.m. today at the offices of Buchanan, 107 Cheapside, London, EC2V 6DN.",[],{"_key":30373,"_type":173,"children":30374,"markDefs":30379,"style":182},"58812381ad84",[30375],{"_key":30376,"_type":177,"marks":30377,"text":30378},"5ceef52a869e0",[],"Commenting on the outlook Dennis Proctor, Chief Executive, said:",[],{"_key":30381,"_type":173,"children":30382,"markDefs":30387,"style":182},"0d4bb0b00af1",[30383],{"_key":30384,"_type":177,"marks":30385,"text":30386},"c7809bd216a80",[216],"\"The Group has commenced 2013 steadily, with current backlogs, facility expansions, product introductions and inquiry levels indicating that this will be another year of progress.\"",[],{"_key":30389,"_type":173,"children":30390,"markDefs":30395,"style":182},"e22e3036d923",[30391],{"_key":30392,"_type":177,"marks":30393,"text":30394},"de5feb2c17a10",[216],"\"In North America, market sentiment is indicating that onshore drilling will show a modest increase throughout the year, with offshore drilling remaining strong, as activity in the Gulf of Mexico increases in momentum. In Europe, current rig activity levels are providing a positive outlook for the year, while in the Middle East and Asia Pacific, our facilities are well positioned to increase their contribution to the Group’s performance.\"",[],{"_key":30397,"_type":173,"children":30398,"markDefs":30403,"style":182},"db0e8c8f3804",[30399],{"_key":30400,"_type":177,"marks":30401,"text":30402},"e74d7a0725510",[216],"\"While the Board is mindful of the current geopolitical and economic issues which prevail, it is confident of delivering a further satisfactory year.\"",[],{"_key":30405,"_type":173,"children":30406,"markDefs":30410,"style":182},"409df4d5692f",[30407],{"_key":30408,"_type":177,"marks":30409,"text":5318},"9a216eca888f0",[179],[],{"_key":30412,"_type":173,"children":30413,"markDefs":30417,"style":182},"c3d80bffa37c",[30414],{"_key":30415,"_type":177,"marks":30416,"text":27846},"84ec2643f3340",[],[],{"_key":30419,"_type":173,"children":30420,"markDefs":30425,"style":182},"fcee22ee6de9",[30421],{"_key":30422,"_type":177,"marks":30423,"text":30424},"f38763eef63c0",[],"Buchanan\nRichard Darby\nJeremy Garcia Tel: +44 (0) 20 7466 5000",[],{"_key":30427,"_type":173,"children":30428,"markDefs":30432,"style":14843},"795cf1a29fe8",[30429],{"_key":30430,"_type":177,"marks":30431,"text":10958},"0687e251af5f0",[],[],{"_key":30434,"_type":173,"children":30435,"markDefs":30439,"style":182},"bb14163e58d4",[30436],{"_key":30437,"_type":177,"marks":30438,"text":12234},"42678f5f73ad0",[179],[],{"_key":30441,"_type":173,"children":30442,"markDefs":30447,"style":182},"4d625895cff6",[30443],{"_key":30444,"_type":177,"marks":30445,"text":30446},"2dfdd0eb0c1c0",[],"Hunting PLC is an international energy services provider to the world's leading upstream oil and gas companies. Established in 1874, it is a fully listed public company traded on the London Stock Exchange. The Company maintains a corporate office in Houston and is headquartered in London. As well as the United Kingdom, the Company has principal operations in Canada, China, Hong Kong, Indonesia, Mexico, Netherlands, Singapore, United Arab Emirates and the United States of America.",[],[30449],{"_key":30450,"_ref":1713,"_type":141},"87544d490bbc",[30452],{"_key":30453,"_type":10023,"asset":30454,"title":30456},"796964283d0e",{"_ref":30455,"_type":141},"file-23268eb8ff6c86d04cc19e3171d0c200d80eedfc-pdf","Download 2012 Full Year Results","Hunting PLC (LSE:HTG) the international energy services group today announces its full year results for the year\nended 31 December 2012.","2013-03-07T16:02:00.000Z",{"_type":9,"current":30460},"07-03-2013",[30462,30464],{"_key":30463,"_ref":7180,"_type":141},"0513e2debbf9",{"_key":30465,"_ref":15507,"_type":141},"ceed12ea39be","\u002Fnews\u002F07-03-2013",{"_createdAt":30468,"_id":30469,"_rev":29816,"_type":168,"_updatedAt":116,"body":30470,"categories":30689,"introText":30484,"publishedAt":30692,"slug":30693,"tags":30695,"title":30698,"url":30699},"2023-02-21T08:22:00Z","61304aa9-8217-48a5-9f69-7cd6e0274fde",[30471,30478,30486,30494,30502,30509,30517,30525,30532,30540,30548,30555,30563,30571,30579,30587,30595,30603,30611,30629,30640,30651,30659,30667,30674,30681],{"_key":30472,"_type":173,"children":30473,"markDefs":30477,"style":182},"8133601df5d2",[30474],{"_key":30475,"_type":177,"marks":30476,"text":20410},"8f13f3a3bb880",[],[],{"_key":30479,"_type":173,"children":30480,"markDefs":30485,"style":182},"a76f23cbeabe",[30481],{"_key":30482,"_type":177,"marks":30483,"text":30484},"740514ce6ab90",[],"Hunting PLC (LSE: HTG), the international energy services group today issues its Interim Management Statement for the period 1 July 2012 to date.",[],{"_key":30487,"_type":173,"children":30488,"markDefs":30493,"style":182},"cbba84493c70",[30489],{"_key":30490,"_type":177,"marks":30491,"text":30492},"bc5d00e3ec110",[179],"Dennis Proctor, Hunting's Chief Executive said,",[],{"_key":30495,"_type":173,"children":30496,"markDefs":30501,"style":13454},"1ea0915d5ab8",[30497],{"_key":30498,"_type":177,"marks":30499,"text":30500},"6a2294bb45560",[216],"\"Hunting's businesses continue to perform well, with strong global demand for premium connections, accessories, OCTG, MWD\u002FLWD components and manufacturing services. An increase in competition within the short perforating gun market has persisted during the third quarter which has reduced demand for Hunting Titan products in this size range. Further, efforts to comply with new offshore standards continue to hamper our subsea product deliveries despite having an increased sales backlog. However, the Board remains confident of trading in line with its expectations for the 2012 full year results.\"",[],{"_key":30503,"_type":173,"children":30504,"markDefs":30508,"style":14843},"c44db59749ed",[30505],{"_key":30506,"_type":177,"marks":30507,"text":29147},"5529fa55274d0",[],[],{"_key":30510,"_type":173,"children":30511,"markDefs":30516,"style":182},"4b0f079051e3",[30512],{"_key":30513,"_type":177,"marks":30514,"text":30515},"377f3179c5640",[],"Hunting's premium connections businesses continue to be driven by strong global demand and the increased drilling activity in the Gulf of Mexico. The Advanced Manufacturing Group continues to report good order intake for its electronic and precision engineered products and has traded ahead of management's expectations during the period. MWD\u002FLWD components also continue to trade strongly.",[],{"_key":30518,"_type":173,"children":30519,"markDefs":30524,"style":182},"c0a96395c3b6",[30520],{"_key":30521,"_type":177,"marks":30522,"text":30523},"f66c271bed430",[],"The Drilling Tools business has seen a marginal decline in trading as the industry moves activity toward the shale liquids regions across North America.",[],{"_key":30526,"_type":173,"children":30527,"markDefs":30531,"style":14843},"538fab943c08",[30528],{"_key":30529,"_type":177,"marks":30530,"text":29187},"716424119b140",[],[],{"_key":30533,"_type":173,"children":30534,"markDefs":30539,"style":182},"0282b751a262",[30535],{"_key":30536,"_type":177,"marks":30537,"text":30538},"eb7ef76b48790",[],"Hunting Titan has seen an increase in competition for its short size perforating gun systems in recent months, primarily from a year-on-year 9% decline in the US rig count as well as operators moving from gas to liquids drilling targets. The business continues to progress its expansion plans, with new distribution centres planned for North America, Europe, the Middle and Far East. The investment at the Group's facility in Wuxi, China is continuing, with manufacturing of perforating guns planned to commence in Q1 2013.",[],{"_key":30541,"_type":173,"children":30542,"markDefs":30547,"style":182},"de83d4b12f65",[30543],{"_key":30544,"_type":177,"marks":30545,"text":30546},"d7e5dfe52af30",[],"Hunting's US Manufacturing business continues to report strong activity levels as momentum in the Gulf of Mexico builds. The unit is now utilising its new facility in Houma, Louisiana, which adds 98,000 square feet to the Group's manufacturing footprint.",[],{"_key":30549,"_type":173,"children":30550,"markDefs":30554,"style":14843},"5d5b893f775f",[30551],{"_key":30552,"_type":177,"marks":30553,"text":14866},"207e8dcdf0b80",[],[],{"_key":30556,"_type":173,"children":30557,"markDefs":30562,"style":182},"8ab9af658640",[30558],{"_key":30559,"_type":177,"marks":30560,"text":30561},"f49e7e5cd4760",[],"At Hunting's Stafford facility, the expansion project to double the size of its manufacturing capacity has been completed. Hunting Welltonic is expanding geographically into North America where demand for its Thru-Tubing products lines has been identified.",[],{"_key":30564,"_type":173,"children":30565,"markDefs":30570,"style":14843},"62851123b2b3",[30566],{"_key":30567,"_type":177,"marks":30568,"text":30569},"a14bd39e0b560",[],"Financial Position",[],{"_key":30572,"_type":173,"children":30573,"markDefs":30578,"style":182},"95d2eb365f9b",[30574],{"_key":30575,"_type":177,"marks":30576,"text":30577},"e8a3fbbac96c0",[],"Overall the Company has a strong balance sheet, with no significant change to the financial position of the Group since the publication of the half year results in August 2012.",[],{"_key":30580,"_type":173,"children":30581,"markDefs":30586,"style":182},"817d7fd8cf0e",[30582],{"_key":30583,"_type":177,"marks":30584,"text":30585},"c3d886f67e0c0",[],"Capital expenditure is forecast to be about £70m in the current year. The reduction to previous guidance is primarily due to slippage of expenditure into 2013.",[],{"_key":30588,"_type":173,"children":30589,"markDefs":30594,"style":182},"62d675d60363",[30590],{"_key":30591,"_type":177,"marks":30592,"text":30593},"ae1ce5a514160",[],"The Group's net debt position as at 31 October 2012 was approximately £210m.",[],{"_key":30596,"_type":173,"children":30597,"markDefs":30602,"style":14843},"0d98ff7c0071",[30598],{"_key":30599,"_type":177,"marks":30600,"text":30601},"e1cae93406aa0",[],"Analyst Site Visit",[],{"_key":30604,"_type":173,"children":30605,"markDefs":30610,"style":182},"b184e911a428",[30606],{"_key":30607,"_type":177,"marks":30608,"text":30609},"2c7ee500c9780",[],"Hunting will be hosting an analyst visit to a number of its US facilities on 5-7 November 2012. During the visit no new financial information will be disclosed.",[],{"_key":30612,"_type":173,"children":30613,"markDefs":30626,"style":182},"b6257edacd4b",[30614,30618,30622],{"_key":30615,"_type":177,"marks":30616,"text":30617},"baf680192ddb0",[],"For further information please visit ",{"_key":30619,"_type":177,"marks":30620,"text":2296},"baf680192ddb1",[30621],"561be8f5d592",{"_key":30623,"_type":177,"marks":30624,"text":30625},"baf680192ddb2",[]," or contact:",[30627],{"_key":30621,"_type":138,"href":30628},"https:\u002F\u002Fwww.huntingplc.com\u002Fmedia\u002Fpress-releases\u002F2012\u002F01-11-2012",{"_key":30630,"_type":173,"children":30631,"markDefs":30639,"style":182},"d73ee5378173",[30632,30635],{"_key":30633,"_type":177,"marks":30634,"text":1134},"a92657c205660",[179],{"_key":30636,"_type":177,"marks":30637,"text":30638},"d6a2bf2e31f0",[],"\nDennis Proctor, Chief Executive\nPeter Rose, Finance Director Tel: +1 713 595 2950\nTel: +44 (0) 20 7321 0123",[],{"_key":30641,"_type":173,"children":30642,"markDefs":30650,"style":182},"7fd7206d0de2",[30643,30646],{"_key":30644,"_type":177,"marks":30645,"text":8934},"83c59d36ec600",[179],{"_key":30647,"_type":177,"marks":30648,"text":30649},"37b37bc0d94b",[],"\nRichard Darby\nJeremy Garcia Tel: +44 (0) 20 7466 5000\n",[],{"_key":30652,"_type":173,"children":30653,"markDefs":30658,"style":182},"dbab86ab68ee",[30654],{"_key":30655,"_type":177,"marks":30656,"text":30657},"0e6f2c52fd040",[],"OCTG - Oil Country Tubular Goods",[],{"_key":30660,"_type":173,"children":30661,"markDefs":30666,"style":182},"c26b8b2e0ec1",[30662],{"_key":30663,"_type":177,"marks":30664,"text":30665},"5eec4d46bc8c0",[],"MWD\u002FLWD - Measurement-while-drilling\u002FLogging-while-drilling",[],{"_key":30668,"_type":173,"children":30669,"markDefs":30673,"style":14843},"d8f2a5b7fda4",[30670],{"_key":30671,"_type":177,"marks":30672,"text":10958},"c2b33c6437fb0",[],[],{"_key":30675,"_type":173,"children":30676,"markDefs":30680,"style":182},"afa1c818b105",[30677],{"_key":30678,"_type":177,"marks":30679,"text":12234},"3e5aa560ecdd0",[179],[],{"_key":30682,"_type":173,"children":30683,"markDefs":30688,"style":182},"fcb999bab231",[30684],{"_key":30685,"_type":177,"marks":30686,"text":30687},"6c97e90caf9a0",[],"Hunting PLC is an international energy services provider to the world's leading upstream oil and gas companies. Established in 1874, it is a fully listed public company traded on the London Stock Exchange. The Company maintains a corporate office in Houston and is headquartered in London. As well as the United Kingdom, the Company has principal operations in Canada, China, Hong Kong, Indonesia, Mexico, Netherlands, Singapore, United Arab Emirates and the United States of America",[],[30690],{"_key":30691,"_ref":1713,"_type":141},"99d0d3d1d5e2","2012-11-01T08:22:00.000Z",{"_type":9,"current":30694},"01-11-2012",[30696],{"_key":30697,"_ref":7180,"_type":141},"9a0145832113","Interim Management Statement & Analyst Site 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2012.",[],{"_key":30720,"_type":173,"children":30721,"markDefs":30726,"style":14843},"37ba4774765d",[30722],{"_key":30723,"_type":177,"marks":30724,"text":30725},"d40e0e0456610",[],"Financial Highlights - from continuing operations*",[],{"_key":30728,"_type":173,"children":30729,"level":955,"listItem":2555,"markDefs":30734,"style":182},"b526eadfacfc",[30730],{"_key":30731,"_type":177,"marks":30732,"text":30733},"556eda3121b70",[],"Revenue increased to £406.9m (H1 2011: £251.3m) +62%",[],{"_key":30736,"_type":173,"children":30737,"level":955,"listItem":2555,"markDefs":30742,"style":182},"a0610799ac06",[30738],{"_key":30739,"_type":177,"marks":30740,"text":30741},"93b7f2f721fb0",[],"EBITDA of £78.4m (H1 2011: £35.5m) +121%",[],{"_key":30744,"_type":173,"children":30745,"level":955,"listItem":2555,"markDefs":30750,"style":182},"7f6a14d16101",[30746],{"_key":30747,"_type":177,"marks":30748,"text":30749},"9d1302b798970",[],"Profit from operations before amortisation and exceptional items of £65.4m (H1 2011: £25.8m) +153%",[],{"_key":30752,"_type":173,"children":30753,"level":955,"listItem":2555,"markDefs":30758,"style":182},"5a35f24e1bb6",[30754],{"_key":30755,"_type":177,"marks":30756,"text":30757},"39e0977f73060",[],"Reported profit from operations of £41.0m (H1 2011: £22.1m) +86%",[],{"_key":30760,"_type":173,"children":30761,"level":955,"listItem":2555,"markDefs":30766,"style":182},"58daf6e34ad0",[30762],{"_key":30763,"_type":177,"marks":30764,"text":30765},"e2e2ba97d8ab0",[],"Diluted earnings per share before amortisation and exceptional items 28.6p (H1 2011: 12.5p) +129%",[],{"_key":30768,"_type":173,"children":30769,"level":955,"listItem":2555,"markDefs":30774,"style":182},"81c730aebd94",[30770],{"_key":30771,"_type":177,"marks":30772,"text":30773},"1afd4f79b4370",[],"Reported diluted earnings per share 18.5p (H1 2011: 10.5p) +76%",[],{"_key":30776,"_type":173,"children":30777,"level":955,"listItem":2555,"markDefs":30782,"style":182},"fbf4f3d0259a",[30778],{"_key":30779,"_type":177,"marks":30780,"text":30781},"05255a5954120",[],"Interim dividend declared of 4.5p (H1 2011: 4.0p)13%",[],{"_key":30784,"_type":173,"children":30785,"level":955,"listItem":2555,"markDefs":30790,"style":182},"9fd7654ac6ab",[30786],{"_key":30787,"_type":177,"marks":30788,"text":30789},"6f76f29c53690",[],"Net debt of £191.4m (31 December 2011: £218.4m)",[],{"_key":30792,"_type":173,"children":30793,"level":955,"listItem":2555,"markDefs":30798,"style":182},"5e075fc62b33",[30794],{"_key":30795,"_type":177,"marks":30796,"text":30797},"f4fdcdfefd740",[],"Number of employees 3,754 (31 December 2011: 3,453)",[],{"_key":30800,"_type":173,"children":30801,"markDefs":30805,"style":14843},"e2551e60be71",[30802],{"_key":30803,"_type":177,"marks":30804,"text":9293},"fdc42d0273930",[],[],{"_key":30807,"_type":173,"children":30808,"level":955,"listItem":2555,"markDefs":30813,"style":182},"b20ae9527b93",[30809],{"_key":30810,"_type":177,"marks":30811,"text":30812},"c78a7b377c5c0",[],"Advanced Manufacturing Group established combining product and manufacturing expertise to deliver a single source MWD\u002FLWD product suite",[],{"_key":30815,"_type":173,"children":30816,"level":955,"listItem":2555,"markDefs":30821,"style":182},"c4010c68ce9d",[30817],{"_key":30818,"_type":177,"marks":30819,"text":30820},"dfbc6e6670790",[],"Capital expenditure in the period of £37.2m (H1 2011: £21.8m):",[],{"_key":30823,"_type":173,"children":30824,"level":3751,"listItem":2555,"markDefs":30829,"style":182},"9e3ecd4ecc3e",[30825],{"_key":30826,"_type":177,"marks":30827,"text":30828},"abe1f26c24af0",[],"Investment at Wuxi, China to commence manufacturing of Hunting Titan s products",[],{"_key":30831,"_type":173,"children":30832,"level":3751,"listItem":2555,"markDefs":30837,"style":182},"0470724cfca8",[30833],{"_key":30834,"_type":177,"marks":30835,"text":30836},"ca1615078d9c0",[],"Completion of expansion and consolidation of Scottish facilities in Q1 2012",[],{"_key":30839,"_type":173,"children":30840,"level":3751,"listItem":2555,"markDefs":30845,"style":182},"5a79a68089a2",[30841],{"_key":30842,"_type":177,"marks":30843,"text":30844},"8832606caf180",[],"Increased manufacturing capacity at HES Stafford in the 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said:",[],{"_key":30871,"_type":173,"children":30872,"markDefs":30877,"style":13454},"7da01e73ca0c",[30873],{"_key":30874,"_type":177,"marks":30875,"text":30876},"ca69c5f5d1fa0",[216],"Hunting has reported excellent results today, with our core businesses benefiting from strong momentum in shale related drilling activity and in the international offshore arena, as well as the recovering Gulf of Mexico. The 2011 acquisitions are performing well and starting to develop cross selling opportunities. Across the Company, many of our facilities have orders extending into the final quarter of 2012. 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Complemented by the acquisitions completed in 2011, Hunting remains well positioned in its global markets with a broad product offering. As a consequence of this, the Board remains confident of trading in line with its expectations.",[],{"_key":31013,"_type":173,"children":31014,"markDefs":31018,"style":14843},"f76ea326cd63",[31015],{"_key":31016,"_type":177,"marks":31017,"text":29147},"edcffcec54d40",[],[],{"_key":31020,"_type":173,"children":31021,"markDefs":31026,"style":182},"cc9e71f60fc0",[31022],{"_key":31023,"_type":177,"marks":31024,"text":31025},"3ddd03ec687f",[],"Within Well Construction, Hunting’s Drilling Tools platform has seen steady demand for its products in the reporting period. Its facilities in Conroe, Latrobe and Casper commissioned in early 2011 are now established and capturing business in the major US shale plays. Hunting’s newly branded Advanced Manufacturing Group, which brings together the Group’s product and manufacturing capabilities to offer a single source solution for MWD\u002FLWD tools is also attracting interest. At Premium Connections, the product line continues to benefit from shale activities in the US and gathering momentum in the Gulf of Mexico and South East Asia.",[],{"_key":31028,"_type":173,"children":31029,"markDefs":31033,"style":14843},"36cfbc841ee9",[31030],{"_key":31031,"_type":177,"marks":31032,"text":29187},"d6d3756bd4eb0",[],[],{"_key":31035,"_type":173,"children":31036,"markDefs":31041,"style":182},"ee5db25af948",[31037],{"_key":31038,"_type":177,"marks":31039,"text":31040},"9f41b1dc9289",[],"Hunting Titan is delivering results in line with management’s expectations with a number of initiatives underway to broaden its sales reach through the Group’s global footprint. Hunting’s US Manufacturing facilities have reported an increase in activity levels since Q4 2011 with strong year on year growth driven by shale related product demand and an increase in order flow to service the Gulf of Mexico.",[],{"_key":31043,"_type":173,"children":31044,"markDefs":31049,"style":182},"d1c328173837",[31045],{"_key":31046,"_type":177,"marks":31047,"text":31048},"7b5052a3a7970",[],"Construction of the new facility in Houma, Louisiana to service the Gulf of Mexico is nearing completion. This follows the project to expand and consolidate our Scottish facilities completed in Q1 2012 which support our customers in Europe, Middle East and Africa.",[],{"_key":31051,"_type":173,"children":31052,"markDefs":31056,"style":14843},"8aea8411646c",[31053],{"_key":31054,"_type":177,"marks":31055,"text":14866},"3ee4a8cee3b20",[],[],{"_key":31058,"_type":173,"children":31059,"markDefs":31064,"style":182},"e6192dd0d678",[31060],{"_key":31061,"_type":177,"marks":31062,"text":31063},"3700cbb73bfc",[],"Within Well Intervention, the Subsea platform at Stafford, Texas continues to be adversely affected by delays in the recertification of subsea equipment for the Gulf of Mexico. However, Hunting’s pressure control and other well intervention product lines have reported good growth in the period.",[],{"_key":31066,"_type":173,"children":31067,"markDefs":31072,"style":14843},"16a7aed0bdf2",[31068],{"_key":31069,"_type":177,"marks":31070,"text":31071},"90944c7598400",[],"Overall Outlook",[],{"_key":31074,"_type":173,"children":31075,"markDefs":31080,"style":182},"47deebccb8cc",[31076],{"_key":31077,"_type":177,"marks":31078,"text":31079},"2890502327f0",[],"Subject to continued levels of drilling activity and no further deterioration in the global macroeconomic environment, the trading outlook for the remainder of 2012 remains encouraging. Activity levels across our geographic markets reflect steady demand for the Group’s portfolio of products.",[],{"_key":31082,"_type":173,"children":31083,"markDefs":31088,"style":182},"b0c27a59afb2",[31084],{"_key":31085,"_type":177,"marks":31086,"text":31087},"889c01e45a5e0",[],"The Group remains well capitalised with a strong balance sheet and net debt as at 30 June 2012 of approximately £190 million.",[],{"_key":31090,"_type":173,"children":31091,"markDefs":31095,"style":182},"6bff468fd115",[31092],{"_key":31093,"_type":177,"marks":31094,"text":1126},"f1ccb24efbb80",[179],[],{"_key":31097,"_type":173,"children":31098,"markDefs":31102,"style":182},"a88bd9f292f0",[31099],{"_key":31100,"_type":177,"marks":31101,"text":27846},"bc0d9db5c39c0",[],[],{"_key":31104,"_type":173,"children":31105,"markDefs":31110,"style":182},"967e2d467296",[31106],{"_key":31107,"_type":177,"marks":31108,"text":31109},"cca109ef0337",[],"Buchanan Communications\nRichard Darby\nJeremy Garcia Tel: +44 (0) 20 7466 5000",[],{"_key":31112,"_type":173,"children":31113,"markDefs":31118,"style":182},"03bcd51731af",[31114],{"_key":31115,"_type":177,"marks":31116,"text":31117},"c9eff33f8bfb0",[],"MWD\u002FLWD – measurement while drilling\u002Flogging while drilling",[],{"_key":31120,"_type":173,"children":31121,"markDefs":31125,"style":14843},"7b7b09d9b9f5",[31122],{"_key":31123,"_type":177,"marks":31124,"text":10958},"7c468d064fa20",[],[],{"_key":31127,"_type":173,"children":31128,"markDefs":31132,"style":182},"2caf9328af71",[31129],{"_key":31130,"_type":177,"marks":31131,"text":12234},"5efd657c978c0",[179],[],{"_key":31134,"_type":173,"children":31135,"markDefs":31139,"style":182},"5dc0c8245f3a",[31136],{"_key":31137,"_type":177,"marks":31138,"text":30446},"c7d2f63067220",[],[],{"_key":31141,"_type":173,"children":31142,"markDefs":31146,"style":182},"fece65e6dcaf",[31143],{"_key":31144,"_type":177,"marks":31145,"text":1430},"04668ba860180",[],[],[31148],{"_key":31149,"_ref":1713,"_type":141},"19b2ce1e32d2","2012-07-04T07:26:00.000Z",{"_type":9,"current":31152},"04-07-2012",[31154,31156],{"_key":31155,"_ref":7180,"_type":141},"fc7ad5ef2950",{"_key":31157,"_ref":10968,"_type":141},"a14735258843","\u002Fnews\u002F04-07-2012",{"_createdAt":31160,"_id":31161,"_rev":13935,"_type":168,"_updatedAt":116,"body":31162,"categories":31257,"downloads":31260,"introText":31265,"publishedAt":31266,"slug":31267,"tags":31269,"title":31272,"url":31273},"2023-02-21T08:38:05Z","827af9a3-48fb-4640-b462-0a0dd1a7e60b",[31163,31171,31179,31187,31195,31203,31211,31219,31227,31235,31243,31250],{"_key":31164,"_type":173,"children":31165,"markDefs":31170,"style":182},"413f5467ce3d",[31166],{"_key":31167,"_type":177,"marks":31168,"text":31169},"5ac49866fd940",[],"Hunting PLC (LSE: HTG), the international energy services group today announces completion of the sale of Hunting Canadian Airport Holdings Ltd., and its subsidiaries including Field Aviation Company Inc. (together referred to as “Field Aviation”) for a consideration of £7.5 million (C$12.0 million), to Amavco Inc., through its subsidiary 1650614 Alberta Ltd., a group of companies owned by a consortium of North American investors assembled by the current management team. The consideration is payable in cash, subject to the adjustments noted below. ",[],{"_key":31172,"_type":173,"children":31173,"markDefs":31178,"style":182},"1b5ae68fd94e",[31174],{"_key":31175,"_type":177,"marks":31176,"text":31177},"fab568bc02a8",[],"Under the terms of the sale agreement, Hunting has agreed to defer £1.9 million (C$3.0 million) of the consideration. The deferred consideration is receivable no later than 31 December 2018, earns interest at a rate of 8% per annum, is unsecured and is subordinate to bank debt put in place by the purchaser.",[],{"_key":31180,"_type":173,"children":31181,"markDefs":31186,"style":182},"3f866bb73783",[31182],{"_key":31183,"_type":177,"marks":31184,"text":31185},"1d0594d09806",[],"In addition, Hunting and the purchaser have agreed to establish an environmental escrow account to pay for any potential environmental matters which may arise relating to Field Aviation’s hangar facilities in Calgary. The escrow account will remain in place until the property lease expires in 2027 or to a time when such environmental matters have been satisfactorily resolved. On completion of the sale, Hunting will deposit £2.5 million (C$4.0 million) into this environmental escrow account. ",[],{"_key":31188,"_type":173,"children":31189,"markDefs":31194,"style":182},"adb736105f8c",[31190],{"_key":31191,"_type":177,"marks":31192,"text":31193},"3aee77573eab",[],"As disclosed within the 2011 Hunting PLC Annual Report and Accounts, the net assets of Field Aviation excluding intercompany balances were £5.1 million as at 31 December 2011. ",[],{"_key":31196,"_type":173,"children":31197,"markDefs":31202,"style":182},"d21c9a27eeb5",[31198],{"_key":31199,"_type":177,"marks":31200,"text":31201},"292ab819f40c",[],"For further information please visit www.huntingplc.com or contact: ",[],{"_key":31204,"_type":173,"children":31205,"markDefs":31210,"style":182},"d23b5ffe34fa",[31206],{"_key":31207,"_type":177,"marks":31208,"text":31209},"822d9f8783fb",[],"Hunting PLC \nDennis Proctor, Chief Executive\nTel: +1 713 595 2950",[],{"_key":31212,"_type":173,"children":31213,"markDefs":31218,"style":182},"9ab76430d44a",[31214],{"_key":31215,"_type":177,"marks":31216,"text":31217},"b032b0c1ab9d",[],"Peter Rose, Finance Director \nTel: +44 (0) 20 7321 0123 ",[],{"_key":31220,"_type":173,"children":31221,"markDefs":31226,"style":182},"bd026a6a88bf",[31222],{"_key":31223,"_type":177,"marks":31224,"text":31225},"dc914ac0b4c1",[],"Buchanan\nTel: +44 (0) 20 7466 5000\nRichard Darby \nJeremy Garcia",[],{"_key":31228,"_type":173,"children":31229,"markDefs":31234,"style":182},"b200e30ea887",[31230],{"_key":31231,"_type":177,"marks":31232,"text":31233},"2efe3288618e",[],"DC Advisory Partners\nTel: +44 (0) 20 7856 0999\nAndrew Cunningham \nMichelle Le Merre ",[],{"_key":31236,"_type":173,"children":31237,"markDefs":31242,"style":14843},"c2d2267a4cd4",[31238],{"_key":31239,"_type":177,"marks":31240,"text":31241},"45f0b0f33879",[],"Notes to Editors: ",[],{"_key":31244,"_type":173,"children":31245,"markDefs":31249,"style":182},"3326396a7b8f",[31246],{"_key":31247,"_type":177,"marks":31248,"text":10957},"a42b7a2b0278",[179],[],{"_key":31251,"_type":173,"children":31252,"markDefs":31256,"style":182},"fddfb8037755",[31253],{"_key":31254,"_type":177,"marks":31255,"text":30446},"f3eb33d9e27e",[],[],[31258],{"_key":31259,"_ref":1713,"_type":141},"d70355761786",[31261],{"_key":31262,"_type":10023,"asset":31263,"title":15497},"dc3ab5b0b91d",{"_ref":31264,"_type":141},"file-4b33962433f689118e7401a002fe0b73b7370965-pdf","Hunting PLC (LSE: HTG), the international energy services group today announces completion of the sale of Hunting Canadian Airport Holdings Ltd.","2012-04-30T07:34:00.000Z",{"_type":9,"current":31268},"30-04-2012a",[31270],{"_key":31271,"_ref":7180,"_type":141},"26669829b1e2","Sale of Field Aviation","\u002Fnews\u002F30-04-2012a",{"_createdAt":31275,"_id":31276,"_rev":12607,"_type":168,"_updatedAt":116,"body":31277,"categories":31393,"introText":31396,"publishedAt":31397,"slug":31398,"tags":31400,"title":31405,"url":31406},"2023-02-21T08:32:54Z","015e0b0b-67bf-4258-befb-415c31264b0c",[31278,31286,31290,31298,31306,31314,31330,31338,31355,31363,31371,31378],{"_key":31279,"_type":173,"children":31280,"markDefs":31285,"style":182},"a17ec435c413",[31281],{"_key":31282,"_type":177,"marks":31283,"text":31284},"828e2fd17ec10",[],"The graphite drawing was selected from over 100 finalists in the 32nd annual award program, which is sponsored by the global oil services company and is the most generous annual art prize in North America for painting and drawing.",[],{"_key":31287,"_type":146,"asset":31288},"2e362b2d904b",{"_ref":31289,"_type":141},"image-86bd8e54e2735fa6fa48e0604779c490abfad189-2700x1810-jpg",{"_key":31291,"_type":173,"children":31292,"markDefs":31297,"style":182},"cbe40fb2b7c9",[31293],{"_key":31294,"_type":177,"marks":31295,"text":31296},"674fac3ba76e0",[],"The announcement came during an evening awards gala on Saturday, April 28, at the Friedkin Companies Campus, Gulf States Toyota, in Houston.",[],{"_key":31299,"_type":173,"children":31300,"markDefs":31305,"style":13454},"688f49c15a76",[31301],{"_key":31302,"_type":177,"marks":31303,"text":31304},"ede6f4cd766a0",[],"\"I am both honored and humbled,\" Bise said after winning the 2012 competition. \"This award not only brings recognition to the individual artists who participate and win, but also calls attention to the value and vitality of the Texas art community. I appreciate the support Hunting has shown over the years through this generous prize and am grateful to be recognized among such a strong group of artists.\" ",[],{"_key":31307,"_type":173,"children":31308,"markDefs":31313,"style":182},"64ab0f9e0eae",[31309],{"_key":31310,"_type":177,"marks":31311,"text":31312},"1c912620e2b10",[],"Bise's works have been shown in solo exhibitions throughout Texas and in Oregon, and have been included in a range of group exhibitions in galleries throughout the nation and internationally.",[],{"_key":31315,"_type":173,"children":31316,"markDefs":31329,"style":182},"2b184ee063e8",[31317,31321,31325],{"_key":31318,"_type":177,"marks":31319,"text":31320},"7c003261ece00",[],"Among his most recent shows is ",{"_key":31322,"_type":177,"marks":31323,"text":31324},"7c003261ece01",[216],"Epilogues,",{"_key":31326,"_type":177,"marks":31327,"text":31328},"7c003261ece02",[]," a solo exhibition at Fort Worth Contemporary Arts that includes large-scale, meticulous drawings of Bise's youth. ",[],{"_key":31331,"_type":173,"children":31332,"markDefs":31337,"style":182},"dc84d99395da",[31333],{"_key":31334,"_type":177,"marks":31335,"text":31336},"cd51cee0a9380",[],"Bise earned a Bachelor of Fine Arts from the University of North Texas in Denton, Texas, and a Master of Fine Arts from the University of Houston.",[],{"_key":31339,"_type":173,"children":31340,"markDefs":31353,"style":182},"b2a2a824a931",[31341,31345,31350],{"_key":31342,"_type":177,"marks":31343,"text":31344},"805c322ab8810",[],"For more information about the 2012 winner, visit ",{"_key":31346,"_type":177,"marks":31347,"text":31349},"805c322ab8811",[31348],"edaeeb4aa3ed","http:\u002F\u002Fwww.moodygallery.com\u002FArtists\u002FBise\u002FMichael.html",{"_key":31351,"_type":177,"marks":31352,"text":3208},"805c322ab8812",[],[31354],{"_key":31348,"_type":138,"href":31349},{"_key":31356,"_type":173,"children":31357,"markDefs":31362,"style":182},"5c630207c30c",[31358],{"_key":31359,"_type":177,"marks":31360,"text":31361},"9392192ddcb10",[],"The Hunting Art Prize is open to amateur, up-and-coming, and established artists in Texas who are 18 years of age or older. This year's competition saw more than 1,600 entries from a number of cities and towns throughout the state. Submissions underwent a two-tiered jury process, after which nationally respected judges from Pennsylvania, Minnesota, and New York selected Bise's work as the 2012 winner. ",[],{"_key":31364,"_type":173,"children":31365,"markDefs":31370,"style":182},"4e3d6052f2d1",[31366],{"_key":31367,"_type":177,"marks":31368,"text":31369},"8952615e313a0",[],"In 2006, the competition moved to Houston, where Hunting's North American headquarters are located, after a quarter-century in the United Kingdom.",[],{"_key":31372,"_type":173,"children":31373,"markDefs":31377,"style":182},"0c1a026c5184",[31374],{"_key":31375,"_type":177,"marks":31376,"text":12234},"5cf940fbdc360",[179],[],{"_key":31379,"_type":173,"children":31380,"markDefs":31391,"style":182},"df743993a214",[31381,31384,31388],{"_key":31382,"_type":177,"marks":31383,"text":28069},"edb43e9bd23b0",[],{"_key":31385,"_type":177,"marks":31386,"text":29941},"edb43e9bd23b1",[31387],"f79c67d52cf3",{"_key":31389,"_type":177,"marks":31390,"text":3208},"edb43e9bd23b2",[],[31392],{"_key":31387,"_type":138,"href":29947},[31394],{"_key":31395,"_ref":1713,"_type":141},"b2adcc8089a9","HOUSTON, April 30, 2012 - Hunting PLC announced that Children by Houston artist Michael Bise is the winner of the $50,000 Hunting Art Prize for 2012.","2012-04-30T07:31:00.000Z",{"_type":9,"current":31399},"30-04-2012",[31401,31403],{"_key":31402,"_ref":7180,"_type":141},"5e171b1fbba5",{"_key":31404,"_ref":28088,"_type":141},"2ab292cddf09","Hunting Art Prize","\u002Fnews\u002F30-04-2012",{"_createdAt":31408,"_id":31409,"_rev":29816,"_type":168,"_updatedAt":116,"categories":31410,"downloads":31413,"introText":31419,"publishedAt":31420,"slug":31421,"tags":31423,"title":31429,"url":31430},"2023-02-21T08:39:59Z","5aeb19b8-545b-40db-83fd-420dfc55884e",[31411],{"_key":31412,"_ref":1713,"_type":141},"8af4b760d7dd",[31414],{"_key":31415,"_type":10023,"asset":31416,"title":31418},"5e944325155e",{"_ref":31417,"_type":141},"file-3cde0c0f3b67aed94d6d1092ce767e99eba0c20c-pdf","Download AGM notice","Notice of the Annual General Meeting of the Company to be held at The Royal Automobile Club, 89 Pall Mall, London SW1Y 5HS, on Wednesday 18 April 2012 at 10.30 a.m.","2012-03-15T08:39:00.000Z",{"_type":9,"current":31422},"15-03-2012",[31424,31426],{"_key":31425,"_ref":7180,"_type":141},"bdd1465ff822",{"_key":31427,"_ref":31428,"_type":141},"2484091cf2d8","32ce01fd-70e2-4f5f-8470-75bc80cc232c","Notice of Annual General Meeting","\u002Fnews\u002F15-03-2012",{"_createdAt":31432,"_id":31433,"_rev":12607,"_type":168,"_updatedAt":116,"body":31434,"categories":31706,"downloads":31709,"introText":31448,"publishedAt":31715,"slug":31716,"tags":31718,"title":19559,"url":31723},"2023-02-21T08:44:05Z","98c5f7ef-a329-4d4a-8788-25b18bc3eac2",[31435,31442,31450,31457,31465,31473,31481,31489,31497,31505,31513,31521,31528,31536,31544,31552,31560,31568,31576,31584,31592,31600,31607,31610,31617,31625,31633,31641,31648,31655,31662,31669,31677,31685,31692,31699],{"_key":31436,"_type":173,"children":31437,"markDefs":31441,"style":182},"9419ff5ffa44",[31438],{"_key":31439,"_type":177,"marks":31440,"text":20410},"70245923ed5d0",[],[],{"_key":31443,"_type":173,"children":31444,"markDefs":31449,"style":182},"1686b33a8d69",[31445],{"_key":31446,"_type":177,"marks":31447,"text":31448},"146bbc3880110",[],"Hunting PLC (LSE:HTG), the international energy services group, today announces its full year results for the year ended 31 December 2011.",[],{"_key":31451,"_type":173,"children":31452,"markDefs":31456,"style":14843},"e24b6edbfc20",[31453],{"_key":31454,"_type":177,"marks":31455,"text":30154},"bb71d906ceab",[],[],{"_key":31458,"_type":173,"children":31459,"level":955,"listItem":2555,"markDefs":31464,"style":182},"f2a78bbeb939",[31460],{"_key":31461,"_type":177,"marks":31462,"text":31463},"fcc037f20b630",[],"Revenue £608.8m (2010 - 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Of note is Titan whose products and services extend the Hunting offering further into the well bore, broadening our customer reach and enhancing the Group's profile as a key supplier of well construction and completion products.\"",[],{"_key":31626,"_type":173,"children":31627,"markDefs":31632,"style":13454},"c453dc3b73d0",[31628],{"_key":31629,"_type":177,"marks":31630,"text":31631},"116fdc57e9ee0",[216],"\"Hunting's existing businesses have also exceeded management's expectations, with strong sales growth in the Group's premium connections and manufacturing operations, particularly in the final quarter of the year.\"",[],{"_key":31634,"_type":173,"children":31635,"markDefs":31640,"style":13454},"e1a02f898d45",[31636],{"_key":31637,"_type":177,"marks":31638,"text":31639},"9a90b62c51210",[216],"\"The Group has started 2012 on a solid footing as the demand for energy remains firm and therefore is well positioned to deliver a further year of 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2012.",[],{"_key":31766,"_type":173,"children":31767,"markDefs":31772,"style":182},"a0a8763953b9",[31768],{"_key":31769,"_type":177,"marks":31770,"text":31771},"d4ceb1b9168f0",[],"Trading since the release of our Interim Management Statement on 17 November 2011 has exceeded management's expectations particularly within our North American manufacturing and connections business units where demand continues to show strong momentum, together with excellent trading from our Asia Pacific operations.",[],{"_key":31774,"_type":173,"children":31775,"markDefs":31780,"style":182},"1a0c7c25d506",[31776],{"_key":31777,"_type":177,"marks":31778,"text":31779},"8a812a6b7e890",[],"As a consequence 2011 full year earnings, which are still subject to external audit, are now expected to be above the top end of analyst expectations.(1)",[],{"_key":31782,"_type":173,"children":31783,"markDefs":31788,"style":182},"398b3b1b3f33",[31784],{"_key":31785,"_type":177,"marks":31786,"text":31787},"03e99e92253e0",[],"Management are comfortable with the business outlook for 2012 and will provide further guidance on trading when the Annual Results are announced.",[],{"_key":31790,"_type":173,"children":31791,"markDefs":31796,"style":182},"e009bbfdcf08",[31792],{"_key":31793,"_type":177,"marks":31794,"text":31795},"ddb0a365db960",[],"(1) Note: Analysts' expectations for underlying profit before tax on continuing operations, for the year ended 31 December 2011 range from £63.8m to £72.8m with a consensus of £67.6m. Underlying profit before tax is stated before inventory fair value adjustments, amortisation of intangible assets and exceptional items.",[],{"_key":31798,"_type":173,"children":31799,"markDefs":31810,"style":182},"88b40c94d580",[31800,31803,31807],{"_key":31801,"_type":177,"marks":31802,"text":30617},"f5555e0c2e8b0",[],{"_key":31804,"_type":177,"marks":31805,"text":2296},"f5555e0c2e8b1",[31806],"4453ba4caa1f",{"_key":31808,"_type":177,"marks":31809,"text":30625},"f5555e0c2e8b2",[],[31811],{"_key":31806,"_type":138,"href":2303},{"_key":31813,"_type":173,"children":31814,"markDefs":31819,"style":182},"bbef64eda898",[31815],{"_key":31816,"_type":177,"marks":31817,"text":31818},"d26eb9ac48a90",[],"Hunting PLC\nDennis Proctor, Chief Executive\nPeter Rose, Finance Director Tel: +1 713 595 2950\nTel: +44 (0) 20 7321 0123",[],{"_key":31821,"_type":173,"children":31822,"markDefs":31826,"style":182},"6c3663b6e08c",[31823],{"_key":31824,"_type":177,"marks":31825,"text":30424},"84bb5f4a4e950",[],[],{"_key":31828,"_type":173,"children":31829,"markDefs":31833,"style":14843},"48bd98394c57",[31830],{"_key":31831,"_type":177,"marks":31832,"text":10958},"c5e6a658a0120",[],[],{"_key":31835,"_type":173,"children":31836,"markDefs":31840,"style":182},"4dcb63527059",[31837],{"_key":31838,"_type":177,"marks":31839,"text":12234},"e6a314c9b2570",[179],[],{"_key":31842,"_type":173,"children":31843,"markDefs":31847,"style":182},"b93b371957d7",[31844],{"_key":31845,"_type":177,"marks":31846,"text":30446},"d8ea315ee5730",[],[],[31849],{"_key":31850,"_ref":1713,"_type":141},"9cdd8ffff04f","2012-01-23T08:45:00.000Z",{"_type":9,"current":31853},"23-01-2012",[31855,31857],{"_key":31856,"_ref":7180,"_type":141},"edd6f252e688",{"_key":31858,"_ref":10968,"_type":141},"3ab38770b0dc","\u002Fnews\u002F23-01-2012",{"_createdAt":31861,"_id":31862,"_rev":13912,"_type":168,"_updatedAt":116,"body":31863,"categories":32110,"introText":31901,"publishedAt":32113,"slug":32114,"tags":32116,"title":32119,"url":32120},"2023-02-21T08:58:30Z","c3b126e5-9fc1-4551-bf84-b5052691a6ed",[31864,31872,31879,31887,31895,31903,31910,31918,31926,31934,31942,31950,31958,31965,31973,31981,31988,31996,32004,32011,32019,32026,32034,32042,32050,32066,32073,32081,32089,32096,32103],{"_key":31865,"_type":173,"children":31866,"markDefs":31871,"style":182},"d4ed5f8be76d",[31867],{"_key":31868,"_type":177,"marks":31869,"text":31870},"7b4e603467c80",[],"For Immediate Release 17 November 2011",[],{"_key":31873,"_type":173,"children":31874,"markDefs":31878,"style":182},"9f49da57f4d3",[31875],{"_key":31876,"_type":177,"marks":31877,"text":20410},"1a959b46748b0",[],[],{"_key":31880,"_type":173,"children":31881,"markDefs":31886,"style":182},"fb54367afa5d",[31882],{"_key":31883,"_type":177,"marks":31884,"text":31885},"be21630f559f0",[],"(\"Hunting\" or \"the Company\" or \"the Group\")",[],{"_key":31888,"_type":173,"children":31889,"markDefs":31894,"style":182},"33d16605b3cc",[31890],{"_key":31891,"_type":177,"marks":31892,"text":31893},"cc5a4a6551b20",[],"Interim Management Statement",[],{"_key":31896,"_type":173,"children":31897,"markDefs":31902,"style":182},"fc9cbedde9de",[31898],{"_key":31899,"_type":177,"marks":31900,"text":31901},"72b183d23f680",[],"Hunting PLC (LSE: HTG), the international energy services group today announces its Interim Management Statement for the period 1 July 2011 to 16 November 2011.",[],{"_key":31904,"_type":173,"children":31905,"markDefs":31909,"style":182},"eed6c5760602",[31906],{"_key":31907,"_type":177,"marks":31908,"text":30492},"fee0f25a66990",[179],[],{"_key":31911,"_type":173,"children":31912,"markDefs":31917,"style":13454},"9a1e6a360e46",[31913],{"_key":31914,"_type":177,"marks":31915,"text":31916},"86d748d2238d0",[216],"\"The economic climate in Europe and the Americas continues to have minimal impact on the demand for energy. Rig counts within the Company's various operating regions have risen with operators' drilling plans for 2012 currently remaining steady. Within this business climate, the Group continues to perform well albeit with some continuing uncertainty related to the issuing of drilling permits for deepwater drilling in the Gulf of Mexico. Group trading for the full year is therefore expected to be in line with market expectations.\"",[],{"_key":31919,"_type":173,"children":31920,"markDefs":31925,"style":14843},"fe50d470d912",[31921],{"_key":31922,"_type":177,"marks":31923,"text":31924},"92628f3a91820",[],"Acquisitions Update",[],{"_key":31927,"_type":173,"children":31928,"markDefs":31933,"style":182},"f73823ba89f2",[31929],{"_key":31930,"_type":177,"marks":31931,"text":31932},"811fb35d1bca0",[],"Since the Group's 2011 Half Year Results, Hunting has completed the acquisitions of Titan Specialties Ltd. (\"Titan\"), Dearborn Precision Tubular Products (\"Dearborn\"), W L Doffing (\"Doffing\") and Specialty Supply L.P. (\"Specialty\") absorbing an aggregate net cash consideration of approximately £570m. Integration on all of the transactions is proceeding in line with expectations.",[],{"_key":31935,"_type":173,"children":31936,"markDefs":31941,"style":182},"913c2423f836",[31937],{"_key":31938,"_type":177,"marks":31939,"text":31940},"a7db5452433f0",[],"With the acquisition of Titan, the Company has extended its product reach into the global shale drilling market. Titan's leading perforating systems and associated products increases the number of touch points on a typical shale well and broadens the Group's directional drilling product offering. The incremental revenue potential from Titan will continue to present good growth opportunities going forward.",[],{"_key":31943,"_type":173,"children":31944,"markDefs":31949,"style":182},"e296a12e030a",[31945],{"_key":31946,"_type":177,"marks":31947,"text":31948},"6c29bcd880010",[],"Dearborn, Doffing and Specialty all provide MWD\u002FLWD related products and these acquisitions further extend Hunting's manufacturing capabilities and position the Group as a leading provider of bespoke precision manufacturing services. These companies are complementary to Hunting's existing premium connections and threading activities and to Hunting's substantial technology portfolio, which includes Hunting Innova and NCC's products. Hunting can now offer a single source solution for MWD\u002FLWD tools.",[],{"_key":31951,"_type":173,"children":31952,"markDefs":31957,"style":182},"8ffec087e788",[31953],{"_key":31954,"_type":177,"marks":31955,"text":31956},"3f6e631220330",[],"Hunting offers an extensive range of technology, products and services to its clients. The Board remains confident of the outlook for energy services, and believes Hunting is well positioned for further growth as it continues to position the Company as a provider of high quality services to the global energy industry.",[],{"_key":31959,"_type":173,"children":31960,"markDefs":31964,"style":182},"66e628c91abf",[31961],{"_key":31962,"_type":177,"marks":31963,"text":29147},"a1292f33f7c80",[179],[],{"_key":31966,"_type":173,"children":31967,"markDefs":31972,"style":182},"dcbd22ead011",[31968],{"_key":31969,"_type":177,"marks":31970,"text":31971},"c078cfd40a820",[],"Hunting's Connections businesses have been driven by a strong order book in the period, supported by improving drilling activity in the Gulf of Mexico and strong customer demand in other key regions. After a subdued first quarter, the Group's Drilling Tools business has shown an improvement in the year and is now trading strongly.",[],{"_key":31974,"_type":173,"children":31975,"markDefs":31980,"style":182},"c1fb44d67e7b",[31976],{"_key":31977,"_type":177,"marks":31978,"text":31979},"ed0950211fca0",[],"The segment benefits from the acquisitions of Dearborn, Doffing and Specialty which are trading in line with management's expectations.",[],{"_key":31982,"_type":173,"children":31983,"markDefs":31987,"style":182},"4d8feb28885d",[31984],{"_key":31985,"_type":177,"marks":31986,"text":29187},"77f68352ee630",[179],[],{"_key":31989,"_type":173,"children":31990,"markDefs":31995,"style":182},"5c50fc055e4f",[31991],{"_key":31992,"_type":177,"marks":31993,"text":31994},"498a1a0e9ad90",[],"Hunting's existing Well Completion businesses have seen increased momentum in the reporting period, with strong demand seen particularly in the Group's Asia-Pacific operations. With the continued demand for shale related drilling products, the Group's premium threading businesses also remains strong.",[],{"_key":31997,"_type":173,"children":31998,"markDefs":32003,"style":182},"c674933057ca",[31999],{"_key":32000,"_type":177,"marks":32001,"text":32002},"6167c1ff5c4f0",[],"Titan, whose well completion products will be reported within this segment, continues to trade in line with management's expectations.",[],{"_key":32005,"_type":173,"children":32006,"markDefs":32010,"style":182},"744d0c56ed92",[32007],{"_key":32008,"_type":177,"marks":32009,"text":14866},"1677b9b7bbf90",[179],[],{"_key":32012,"_type":173,"children":32013,"markDefs":32018,"style":182},"bebf5144f011",[32014],{"_key":32015,"_type":177,"marks":32016,"text":32017},"f79ccb42050d0",[],"Despite a strong order book, as previously advised, National Coupling continues to experience customer delays with regulations related to drilling in the Gulf of Mexico leading to a deferral of profits into 2012. Other operations within Well Intervention are trading in line with management's expectations.",[],{"_key":32020,"_type":173,"children":32021,"markDefs":32025,"style":182},"e6eae68e57e1",[32022],{"_key":32023,"_type":177,"marks":32024,"text":30569},"32c766f1e8c00",[179],[],{"_key":32027,"_type":173,"children":32028,"markDefs":32033,"style":182},"3eb5c118c256",[32029],{"_key":32030,"_type":177,"marks":32031,"text":32032},"faabac5c16780",[],"During the reporting period the Group completed four acquisitions, absorbing approximately £570m of net cash.",[],{"_key":32035,"_type":173,"children":32036,"markDefs":32041,"style":182},"77be473dc988",[32037],{"_key":32038,"_type":177,"marks":32039,"text":32040},"94fcdce7970b0",[],"On the 5 August 2011, the Company issued 13,175,838 new ordinary shares raising net proceeds of £83.5m in support of the acquisition of Titan. 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Szescila as a non-executive Director of the Company with immediate effect.",[],{"_key":32465,"_type":173,"children":32466,"markDefs":32471,"style":182},"c82dbc9cb930",[32467],{"_key":32468,"_type":177,"marks":32469,"text":32470},"8cdde6ceddad",[],"Andrew Szescila, a US citizen, is a former executive of Baker Hughes Inc. where he held a number of senior roles including that of Chief Operating Officer between 2000 and 2003.",[],{"_key":32473,"_type":173,"children":32474,"markDefs":32479,"style":182},"e68f0523b3e5",[32475],{"_key":32476,"_type":177,"marks":32477,"text":32478},"c30b0f38ad90",[],"He will join the Audit, Remuneration and Nomination committees.",[],{"_key":32481,"_type":173,"children":32482,"markDefs":32487,"style":182},"130d5f5d70ea",[32483],{"_key":32484,"_type":177,"marks":32485,"text":32486},"b72f4eab3781",[],"Mr Szescila is currently a non-executive Director of Frontera Resources Corporation, the AIM listed exploration and production company and between 2009 and 2010 was a Director of Nova Drill, a US based drilling technology company.",[],{"_key":32489,"_type":173,"children":32490,"markDefs":32495,"style":182},"1d0a49f64293",[32491],{"_key":32492,"_type":177,"marks":32493,"text":32494},"d634840f5460",[],"On 30 September 2011, George Helland will retire from the Company after 10 years of service to Hunting. Following Mr Helland's retirement from the Board, Mr Szescila will become the Chairman of the Remuneration Committee.",[],{"_key":32497,"_type":173,"children":32498,"markDefs":32502,"style":182},"9fa510b50678",[32499],{"_key":32500,"_type":177,"marks":32501,"text":24595},"6c8a1f409261",[],[],{"_key":32504,"_type":173,"children":32505,"markDefs":32509,"style":182},"be8ccf370c32",[32506],{"_key":32507,"_type":177,"marks":32508,"text":1126},"f83333c44ec50",[179],[],{"_key":32511,"_type":173,"children":32512,"markDefs":32516,"style":182},"513b6efa9c65",[32513],{"_key":32514,"_type":177,"marks":32515,"text":28636},"700457cf26ae0",[],[],{"_key":32518,"_type":173,"children":32519,"markDefs":32523,"style":14843},"6c7113340e73",[32520],{"_key":32521,"_type":177,"marks":32522,"text":10958},"385f1579ddf20",[179],[],{"_key":32525,"_type":173,"children":32526,"markDefs":32530,"style":182},"93a52170e73a",[32527],{"_key":32528,"_type":177,"marks":32529,"text":12234},"8b88504e23450",[179],[],{"_key":32532,"_type":173,"children":32533,"markDefs":32537,"style":182},"f23a4aaee535",[32534],{"_key":32535,"_type":177,"marks":32536,"text":30446},"58fd35dbdaec0",[],[],[32539],{"_key":32540,"_ref":1713,"_type":141},"8f987994efe6","Hunting PLC (LSE:HTG), the international energy services group today announces the appointment of Andrew J. 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The Titan Group is now wholly owned by the Company.",[],{"_key":32594,"_type":173,"children":32595,"markDefs":32599,"style":182},"41c79d286e9f",[32596],{"_key":32597,"_type":177,"marks":32598,"text":1126},"22c45162b78c",[179],[],{"_key":32601,"_type":173,"children":32602,"markDefs":32607,"style":182},"df704fd57ef1",[32603],{"_key":32604,"_type":177,"marks":32605,"text":32606},"c77f55974ce00",[],"Hunting PLC\nDennis Proctor, Chief Executive\nPeter Rose, Finance Director +44 (0) 20 7321 0123",[],{"_key":32609,"_type":173,"children":32610,"markDefs":32615,"style":182},"5bef2b01bd4e",[32611],{"_key":32612,"_type":177,"marks":32613,"text":32614},"badda283caeb0",[],"DC Advisory Partners\nAndrew Cunningham\nMichelle Le Merre +44 (0) 20 7856 0999",[],{"_key":32617,"_type":173,"children":32618,"markDefs":32623,"style":182},"5a4de55a81c0",[32619],{"_key":32620,"_type":177,"marks":32621,"text":32622},"2ade1d8a56d30",[],"Buchanan\nRichard Darby\nJeremy Garcia +44 (0) 20 7466 5000",[],{"_key":32625,"_type":173,"children":32626,"markDefs":32630,"style":14843},"803cb30c8288",[32627],{"_key":32628,"_type":177,"marks":32629,"text":10958},"88990912d1580",[],[],{"_key":32632,"_type":173,"children":32633,"markDefs":32637,"style":182},"c897dec7a811",[32634],{"_key":32635,"_type":177,"marks":32636,"text":12234},"a00932bfb7b50",[179],[],{"_key":32639,"_type":173,"children":32640,"markDefs":32644,"style":182},"33de88ae6af0",[32641],{"_key":32642,"_type":177,"marks":32643,"text":30446},"247ec8ca04ec0",[],[],{"_key":32646,"_type":173,"children":32647,"markDefs":32652,"style":182},"94fa9b8dc930",[32648],{"_key":32649,"_type":177,"marks":32650,"text":32651},"5fd76a7111050",[],"This announcement has been issued by and is the sole responsibility of Hunting PLC. No representation or warranty, express or implied, is or will be made as to, or in relation to, and no responsibility or liability is or will be accepted by, DC Advisory Partners Limited or any of its respective affiliates or agents as to or in relation to, the accuracy or completeness of this announcement or any other written or oral information made available to or publicly available to any interested party or its advisers, and any liability therefor is expressly disclaimed.",[],{"_key":32654,"_type":173,"children":32655,"markDefs":32660,"style":182},"05ffe6e671f6",[32656],{"_key":32657,"_type":177,"marks":32658,"text":32659},"8a66ddfac4b80",[],"DC Advisory Partners Limited, which is authorised and regulated by the UK Financial Services Authority, is acting exclusively for Hunting and no one else and will not be responsible to any person other than Hunting for providing the protections afforded to customers of DC Advisory Partners Limited or in relation to the contents of this announcement or any other transaction, arrangement or matter referred to herein.",[],[32662],{"_key":32663,"_ref":1713,"_type":141},"8224f55c9b83","Further to the announcement on 15 September 2011, Hunting PLC (LSE:HTG), the international energy services group, is pleased to","2011-09-16T08:03:00.000Z",{"_type":9,"current":32667},"16-09-2011a",[32669,32671],{"_key":32670,"_ref":7180,"_type":141},"d59d3aac0dee",{"_key":32672,"_ref":15791,"_type":141},"53cda5a286e1","\u002Fnews\u002F16-09-2011a",{"_createdAt":32675,"_id":32676,"_rev":7809,"_type":168,"_updatedAt":116,"body":32677,"categories":32788,"introText":32791,"publishedAt":32792,"slug":32793,"tags":32795,"title":32800,"url":32801},"2023-02-21T09:07:20Z","cb8567ae-283e-44e2-9902-0cdbf10977c3",[32678,32685,32693,32700,32707,32714,32722,32733,32745,32752,32759,32767,32774,32781],{"_key":32679,"_type":173,"children":32680,"markDefs":32684,"style":182},"0b42f2ac7de1",[32681],{"_key":32682,"_type":177,"marks":32683,"text":180},"829239f96ca4",[],[],{"_key":32686,"_type":173,"children":32687,"markDefs":32692,"style":182},"f8f85bd98690",[32688],{"_key":32689,"_type":177,"marks":32690,"text":32691},"6a89fefa8fbc0",[],"For Immediate Release 02 September 2011",[],{"_key":32694,"_type":173,"children":32695,"markDefs":32699,"style":182},"ff8795897046",[32696],{"_key":32697,"_type":177,"marks":32698,"text":20410},"339edd9af49d0",[],[],{"_key":32701,"_type":173,"children":32702,"markDefs":32706,"style":182},"47901c31278b",[32703],{"_key":32704,"_type":177,"marks":32705,"text":32146},"e662e1c865390",[],[],{"_key":32708,"_type":173,"children":32709,"markDefs":32713,"style":14843},"6e195aac032a",[32710],{"_key":32711,"_type":177,"marks":32712,"text":32154},"13f86a3fedb0",[],[],{"_key":32715,"_type":173,"children":32716,"markDefs":32721,"style":182},"6c02363a5230",[32717],{"_key":32718,"_type":177,"marks":32719,"text":32720},"cb3257c973e00",[216],"Hunting acquires W L Doffing a specialist machining business for US$20.8m",[],{"_key":32723,"_type":173,"children":32724,"markDefs":32732,"style":182},"1160d7ae52a8",[32725,32729],{"_key":32726,"_type":177,"marks":32727,"text":32728},"992df49b864d0",[],"Hunting PLC (LSE:HTG), the international energy services company today announces the completion of the acquisition of the business and assets of W L Doffing, L.P. (\"Doffing\") a company that provides high precision machining services to the energy industry, for a cash consideration of US$20.8m (c.£12.8m).\n\nThe consideration paid is on a cash-free-debt-free basis and will be funded from Hunting's cash balances. An additional consideration of up to US$2.0m (c.£1.2m) is also payable on the achievement of certain performance conditions measured over a two year period. Doffing is one of the acquisitions, whose aggregate consideration amounted to around £90m, referred to in the announcement of the acquisition of Titan on 5 August 2011.\n\nDoffing is a supplier of precision machined components to the global energy services industry focusing on equipment used for measurement-while-drilling (MWD) and logging-while-drilling (LWD). The business provides critical tolerance machining, prototyping and first-pass specialist production services. The business also holds intellectual property for manufacturing other key components used in the oil and gas well bore. Doffing will add to Hunting's product offering through its Well Construction and Well Completion segments.\n\nLocated in Houston, Texas, W L Doffing was founded in 1977 and employs around 75 personnel. Key management will remain with the business after completion of the acquisition. Doffing operates from one facility totalling over 29,000 sq. ft.\n\nIn the six months to 30 June 2011 Doffing reported unaudited US GAAP revenue of US$9.2m (c.£5.7m), profit before taxation of US$2.2m (c.£1.4m) and EBITDA of US$2.4m (c.£1.5m).\n\nThe acquisition of the business and assets of Doffing is expected to be earnings enhancing in the first full financial year before acquisition costs and normal acquisition adjustments such as fair value adjustments and the amortisation of intangible assets. Doffing is owned by a group of investors, which includes two of Doffing's senior managers.\n\n",{"_key":32730,"_type":177,"marks":32731,"text":32234},"28ef9f6d6e77",[179],[],{"_key":32734,"_type":173,"children":32735,"markDefs":32744,"style":13454},"ad33cbf4e718",[32736,32740],{"_key":32737,"_type":177,"marks":32738,"text":32739},"992df49b864d1",[216],"\"Doffing's machining expertise is an excellent fit with Hunting's existing manufacturing capabilities and complements our technology offering. The delivery of products to exacting machining requirements is increasingly a feature of oil and gas drilling and the ability to complete a machining job on a first-pass will enable Hunting to participate in increasingly complex well designs, with corresponding opportunities to supply other products and services from our portfolio.\"",{"_key":32741,"_type":177,"marks":32742,"text":32743},"992df49b864d2",[],"\n\n",[],{"_key":32746,"_type":173,"children":32747,"markDefs":32751,"style":182},"1689cb348e5a",[32748],{"_key":32749,"_type":177,"marks":32750,"text":1126},"a9c9f0bcc1fb0",[179],[],{"_key":32753,"_type":173,"children":32754,"markDefs":32758,"style":182},"ba85bd63ddf1",[32755],{"_key":32756,"_type":177,"marks":32757,"text":30891},"0d2ea59e4f480",[],[],{"_key":32760,"_type":173,"children":32761,"markDefs":32766,"style":182},"8ace0416ed2a",[32762],{"_key":32763,"_type":177,"marks":32764,"text":32765},"a9252307d1f10",[],"Buchanan Communications\nRichard Darby\nJeremy Garcia Tel: 020 7466 5000",[],{"_key":32768,"_type":173,"children":32769,"markDefs":32773,"style":14843},"0ee0f3c90179",[32770],{"_key":32771,"_type":177,"marks":32772,"text":10958},"71539b8522df0",[],[],{"_key":32775,"_type":173,"children":32776,"markDefs":32780,"style":182},"21c71b8538c9",[32777],{"_key":32778,"_type":177,"marks":32779,"text":12234},"31b44a1d578b0",[216],[],{"_key":32782,"_type":173,"children":32783,"markDefs":32787,"style":182},"dff1891ef53a",[32784],{"_key":32785,"_type":177,"marks":32786,"text":30446},"4f6a66c6d0560",[],[],[32789],{"_key":32790,"_ref":1713,"_type":141},"cca8c2c66b84","Hunting PLC (LSE:HTG), the international energy services company today announces the completion of the acquisition of the business and assets of W L Doffing, L.P. (\"Doffing\")","2011-09-02T08:06:00.000Z",{"_type":9,"current":32794},"02-09-2011",[32796,32798],{"_key":32797,"_ref":7180,"_type":141},"e1c12266ae67",{"_key":32799,"_ref":15791,"_type":141},"06e2f621f08c","W L Doffing Acquisition","\u002Fnews\u002F02-09-2011",{"_createdAt":32803,"_id":32804,"_rev":7809,"_type":168,"_updatedAt":116,"body":32805,"categories":33046,"downloads":33049,"introText":32819,"publishedAt":33054,"slug":33055,"tags":33057,"title":33062,"url":33063},"2023-02-21T09:09:43Z","225aa185-f4c9-43c2-94f2-32072dc19ce3",[32806,32813,32821,32828,32836,32844,32852,32860,32868,32876,32884,32892,32899,32907,32915,32923,32931,32939,32947,32955,32963,32971,32979,32987,32994,33001,33008,33025,33032,33039],{"_key":32807,"_type":173,"children":32808,"markDefs":32812,"style":182},"1b265920dc70",[32809],{"_key":32810,"_type":177,"marks":32811,"text":20410},"a1a07a18bafa0",[],[],{"_key":32814,"_type":173,"children":32815,"markDefs":32820,"style":182},"8e7b28f3ce63",[32816],{"_key":32817,"_type":177,"marks":32818,"text":32819},"ded50c9cd0810",[],"Hunting PLC (LSE:HTG), the international energy services group, today announces its results for the six months to 30 June 2011.",[],{"_key":32822,"_type":173,"children":32823,"markDefs":32827,"style":14843},"4fc469f4e924",[32824],{"_key":32825,"_type":177,"marks":32826,"text":30725},"14e2f63797ac0",[],[],{"_key":32829,"_type":173,"children":32830,"level":955,"listItem":2555,"markDefs":32835,"style":182},"384a2c9c1e11",[32831],{"_key":32832,"_type":177,"marks":32833,"text":32834},"69c0d0f9849f0",[],"Revenue increased to £251.3m (2010: £193.3m) +30%",[],{"_key":32837,"_type":173,"children":32838,"level":955,"listItem":2555,"markDefs":32843,"style":182},"6bdce84b3ff7",[32839],{"_key":32840,"_type":177,"marks":32841,"text":32842},"d35f8528157f0",[],"Profit from operations before exceptional items of £23.0m (2010: £18.8m) +22%",[],{"_key":32845,"_type":173,"children":32846,"level":955,"listItem":2555,"markDefs":32851,"style":182},"5e6fae468d58",[32847],{"_key":32848,"_type":177,"marks":32849,"text":32850},"5c93ce34d6710",[],"Profit from operations of £22.1m (2010: £11.6m) +91%",[],{"_key":32853,"_type":173,"children":32854,"level":955,"listItem":2555,"markDefs":32859,"style":182},"6aca0b46d761",[32855],{"_key":32856,"_type":177,"marks":32857,"text":32858},"bea8995274410",[],"Basic earnings per share before exceptional items 11.3p (2010: 9.4p) +20%",[],{"_key":32861,"_type":173,"children":32862,"level":955,"listItem":2555,"markDefs":32867,"style":182},"0d5792a5dfb7",[32863],{"_key":32864,"_type":177,"marks":32865,"text":32866},"52978d3b82d50",[],"Basic earnings per share 10.7p (2010: 5.5p) +95%",[],{"_key":32869,"_type":173,"children":32870,"level":955,"listItem":2555,"markDefs":32875,"style":182},"34b11a8d1e9b",[32871],{"_key":32872,"_type":177,"marks":32873,"text":32874},"95aded724a180",[],"Interim dividend declared of 4.0p (2010: 3.7p) +8%",[],{"_key":32877,"_type":173,"children":32878,"level":955,"listItem":2555,"markDefs":32883,"style":182},"16df2d5adebb",[32879],{"_key":32880,"_type":177,"marks":32881,"text":32882},"4d6f12ceaff50",[],"Net cash of £297.1m (2010: £314.1m)",[],{"_key":32885,"_type":173,"children":32886,"markDefs":32891,"style":182},"cf0c3b49a63f",[32887],{"_key":32888,"_type":177,"marks":32889,"text":32890},"7e25947b8b930",[216],"*2010 comparatives restated following the reclassification of Field Aviation Inc. as a discontinued operation",[],{"_key":32893,"_type":173,"children":32894,"markDefs":32898,"style":14843},"3796868b94a1",[32895],{"_key":32896,"_type":177,"marks":32897,"text":9293},"2a729f2cf16a0",[],[],{"_key":32900,"_type":173,"children":32901,"level":955,"listItem":2555,"markDefs":32906,"style":182},"a3557a402ead",[32902],{"_key":32903,"_type":177,"marks":32904,"text":32905},"f9b8836f3d9d0",[],"Opening of 300,000 sq.ft. manufacturing facility in Wuxi, China",[],{"_key":32908,"_type":173,"children":32909,"level":955,"listItem":2555,"markDefs":32914,"style":182},"ae111522f89d",[32910],{"_key":32911,"_type":177,"marks":32912,"text":32913},"18491a2364830",[],"Receipt of £85.3m from the Gibson Energy Warrant",[],{"_key":32916,"_type":173,"children":32917,"level":955,"listItem":2555,"markDefs":32922,"style":182},"886cdd89796d",[32918],{"_key":32919,"_type":177,"marks":32920,"text":32921},"03b7b769afeb0",[],"Capital expenditure in the period increased to £21.8m (2010: £18.6m)",[],{"_key":32924,"_type":173,"children":32925,"markDefs":32930,"style":182},"62e95c43937a",[32926],{"_key":32927,"_type":177,"marks":32928,"text":32929},"efc04f11127a0",[179],"Post Balance Sheet Events",[],{"_key":32932,"_type":173,"children":32933,"level":955,"listItem":2555,"markDefs":32938,"style":182},"53aa79d4786d",[32934],{"_key":32935,"_type":177,"marks":32936,"text":32937},"39abc62ab29a0",[],"Proposed acquisition of the Titan Group, for a consideration of US$775 million (c.£475.5 million) announced on 5 August 2011 accompanied by:",[],{"_key":32940,"_type":173,"children":32941,"level":3751,"listItem":2555,"markDefs":32946,"style":182},"c89a7b46bfd9",[32942],{"_key":32943,"_type":177,"marks":32944,"text":32945},"6003c748b7930",[],"A placing of 13,175,838 new ordinary shares at 648p raising gross proceeds of £85.4 million",[],{"_key":32948,"_type":173,"children":32949,"level":3751,"listItem":2555,"markDefs":32954,"style":182},"02bd8f339c6c",[32950],{"_key":32951,"_type":177,"marks":32952,"text":32953},"490e1a1d1f290",[],"A new five-year £375 million multi-currency revolving credit facility agreed with lenders",[],{"_key":32956,"_type":173,"children":32957,"level":955,"listItem":2555,"markDefs":32962,"style":182},"52b7cb0ad3cc",[32958],{"_key":32959,"_type":177,"marks":32960,"text":32961},"66910fd06c570",[],"Acquisition of Dearborn Precision Tubular Products, Inc. for a consideration of US$83.5 million (c.£51.1 million) announced on 12 August 2011",[],{"_key":32964,"_type":173,"children":32965,"markDefs":32970,"style":182},"b47eba21cddc",[32966],{"_key":32967,"_type":177,"marks":32968,"text":32969},"46a7f70cac140",[179],"Commenting on the results, Dennis Proctor Chief Executive Officer of Hunting said:",[],{"_key":32972,"_type":173,"children":32973,"markDefs":32978,"style":13454},"c2674bd12b89",[32974],{"_key":32975,"_type":177,"marks":32976,"text":32977},"f87ca77cbbe70",[216],"\"Our results today demonstrate the momentum of Hunting's activities as the industry continues to increase its investment in drilling and developing new resources. Our businesses are performing well and continue to indicate good year on year growth.",[],{"_key":32980,"_type":173,"children":32981,"markDefs":32986,"style":13454},"2c9296b2824a",[32982],{"_key":32983,"_type":177,"marks":32984,"text":32985},"f5270d2c8988",[216],"With the acquisitions of Titan and Dearborn, Hunting is continuing its strategy of acquisitive growth in businesses which increases the products and services delivered to the well bore. 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(\"Dearborn\") a company that provides specialist precision machining services, for a total cash consideration of US$83.5m (c.£51.1m). The consideration paid is on a cash free debt free basis and will be funded from Hunting's existing cash and bank borrowing facilities.",[],{"_key":33114,"_type":173,"children":33115,"markDefs":33120,"style":182},"2e327573912f",[33116],{"_key":33117,"_type":177,"marks":33118,"text":33119},"0aa9fbdf84fb0",[],"Dearborn manufactures high precision tubular and rotating metal components for customers who require products with exacting tolerances and unique configurations. The components are used primarily for MWD\u002FLWD* applications in the oil and gas sector, in addition to products for the aerospace and power generation industries. The business will contribute to Hunting's Well Construction range of products and services.",[],{"_key":33122,"_type":173,"children":33123,"markDefs":33128,"style":182},"73abf433f342",[33124],{"_key":33125,"_type":177,"marks":33126,"text":33127},"c657903989540",[],"Dearborn was one of the acquisitions, whose aggregate consideration amounted to around £90m, that was referred to in the announcement of the acquisition of Titan.",[],{"_key":33130,"_type":173,"children":33131,"markDefs":33136,"style":182},"9cace62e97db",[33132],{"_key":33133,"_type":177,"marks":33134,"text":33135},"e45056d51f540",[],"Located in Fryeburg, Maine, USA, Dearborn was formed in 1977 and employs around 225 personnel. Dearborn operates from one facility providing over 140,000 sq. ft of production, storage and office accommodation.",[],{"_key":33138,"_type":173,"children":33139,"markDefs":33144,"style":182},"72d20590d863",[33140],{"_key":33141,"_type":177,"marks":33142,"text":33143},"f3af9f012f080",[],"For the year ended 31 December 2010 Dearborn's revenue was US$44.5m (£28.7m), profit before taxation was US$7.4m (£4.8m) with EBITDA of US$9.1m (£5.9m). Dearborn's net assets and gross assets as at 31 December 2010 were US$44.0m (£28.0m) and US$47.0m (£29.9m) respectively.",[],{"_key":33146,"_type":173,"children":33147,"markDefs":33152,"style":182},"37facc9b30bd",[33148],{"_key":33149,"_type":177,"marks":33150,"text":33151},"fe1229273c980",[],"Dearborn has continued to perform well for the six months ended 30 June 2011 with the unaudited US GAAP management accounts reporting revenue and EBITDA of US$24.6m (£15.2m) and US$7.8m (£4.8m) respectively.",[],{"_key":33154,"_type":173,"children":33155,"markDefs":33160,"style":182},"9f922582cdfd",[33156],{"_key":33157,"_type":177,"marks":33158,"text":33159},"e9d5db8a8ef50",[],"The acquisition of Dearborn is expected to be earnings enhancing in the first full financial year before acquisition costs and normal acquisition adjustments such as fair value adjustments and the amortisation of intangible assets.",[],{"_key":33162,"_type":173,"children":33163,"markDefs":33168,"style":182},"440d68756f29",[33164],{"_key":33165,"_type":177,"marks":33166,"text":33167},"82a194bdb2330",[],"Hunting is acquiring Dearborn from a company owned by three individual investors, one of whom is Dearborn's President who will remain with the business after the acquisition.",[],{"_key":33170,"_type":173,"children":33171,"markDefs":33175,"style":182},"4fb30b7c7461",[33172],{"_key":33173,"_type":177,"marks":33174,"text":32234},"ece6309aa7f30",[179],[],{"_key":33177,"_type":173,"children":33178,"markDefs":33183,"style":13454},"0c857f30f78d",[33179],{"_key":33180,"_type":177,"marks":33181,"text":33182},"d758e84611530",[],"\"Dearborn's expertise in manufacturing close tolerance parts for the oil and gas sector will enable Hunting to broaden our manufacturing offering and continue our drive to supply products into higher specification oil and gas wells and the increasingly challenging environments being pursued by the global energy industry.\"",[],{"_key":33185,"_type":173,"children":33186,"markDefs":33190,"style":182},"f85e024dc243",[33187],{"_key":33188,"_type":177,"marks":33189,"text":1126},"cc6be55980830",[179],[],{"_key":33192,"_type":173,"children":33193,"markDefs":33198,"style":182},"7b0c4116cc10",[33194],{"_key":33195,"_type":177,"marks":33196,"text":33197},"10036a2608fb0",[],"Hunting PLC\nDennis Proctor, Chief Executive\nPeter Rose, Finance Director Tel:+1 713 595 2950\nTel: +44 (0) 20 7321 0123",[],{"_key":33200,"_type":173,"children":33201,"markDefs":33205,"style":182},"e213a2f7868d",[33202],{"_key":33203,"_type":177,"marks":33204,"text":29469},"747f8996e6f60",[],[],{"_key":33207,"_type":173,"children":33208,"markDefs":33212,"style":14843},"f32e73ede864",[33209],{"_key":33210,"_type":177,"marks":33211,"text":10958},"e0b5cfc3be990",[],[],{"_key":33214,"_type":173,"children":33215,"markDefs":33219,"style":182},"32e404f4c818",[33216],{"_key":33217,"_type":177,"marks":33218,"text":12234},"c52b2fb143180",[216],[],{"_key":33221,"_type":173,"children":33222,"markDefs":33226,"style":182},"acfbb1602c4c",[33223],{"_key":33224,"_type":177,"marks":33225,"text":30446},"9a834440163a0",[],[],[33228],{"_key":33229,"_ref":1713,"_type":141},"69975ff88657","Hunting PLC (LSE:HTG), the international energy services company today announces the acquisition of Dearborn Precision Tubular Products, Inc. (\"Dearborn\") a","2011-08-12T08:10:00.000Z",{"_type":9,"current":33233},"12-08-2011",[33235,33237],{"_key":33236,"_ref":7180,"_type":141},"c26a6483c543",{"_key":33238,"_ref":15791,"_type":141},"d9559281b013","Dearborn Acquisition","\u002Fnews\u002F12-08-2011",{"_createdAt":33242,"_id":33243,"_rev":5417,"_type":168,"_updatedAt":116,"body":33244,"categories":33743,"introText":33746,"publishedAt":33747,"slug":33748,"tags":33750,"title":33757,"url":33758},"2023-02-21T09:12:55Z","f7bf6d6f-15da-45da-9078-a0b161a1a46c",[33245,33253,33260,33268,33276,33284,33292,33300,33308,33316,33324,33332,33340,33348,33356,33364,33372,33380,33388,33396,33404,33412,33420,33428,33436,33444,33452,33460,33468,33476,33484,33492,33500,33508,33516,33524,33532,33540,33548,33556,33564,33572,33580,33588,33596,33603,33610,33618,33626,33634,33642,33650,33658,33666,33674,33682,33690,33698,33705,33712,33719,33727],{"_key":33246,"_type":173,"children":33247,"markDefs":33252,"style":182},"ee4fc1ac8c2a",[33248],{"_key":33249,"_type":177,"marks":33250,"text":33251},"59060a63eb190",[],"Embargoed For Release 5 August 2011",[],{"_key":33254,"_type":173,"children":33255,"markDefs":33259,"style":182},"3cb3853af551",[33256],{"_key":33257,"_type":177,"marks":33258,"text":20410},"979f8b82b9130",[],[],{"_key":33261,"_type":173,"children":33262,"markDefs":33267,"style":182},"7c35ee7f4c52",[33263],{"_key":33264,"_type":177,"marks":33265,"text":33266},"4455d86c77920",[],"(\"Hunting\" or the \"Company\" or the \"Group\")",[],{"_key":33269,"_type":173,"children":33270,"markDefs":33275,"style":14843},"bddd8daf769e",[33271],{"_key":33272,"_type":177,"marks":33273,"text":33274},"35e3a3553a7e0",[],"Proposed Acquisition of the Titan Group and Trading Statement",[],{"_key":33277,"_type":173,"children":33278,"markDefs":33283,"style":182},"cace469045e5",[33279],{"_key":33280,"_type":177,"marks":33281,"text":33282},"0938894e20350",[],"Hunting PLC (LSE:HTG), the international energy services group, is pleased to announce that it has agreed to acquire TSI Acquisition Holdings LLC and its subsidiaries including Titan Specialties, Ltd. for a total consideration of US$775 million (approximately £475 million), subject to Adjustments and payable in cash. TSI Acquisition Holdings LLC is majority owned by entities affiliated with Riverstone Holdings, LLC.",[],{"_key":33285,"_type":173,"children":33286,"markDefs":33291,"style":182},"fc611ece4e79",[33287],{"_key":33288,"_type":177,"marks":33289,"text":33290},"a776a5759af70",[],"Titan is a leading provider of perforating gun systems, shaped charges, well logging instrumentation, perforating gun switches and other engineered hardware used in the drilling, completion and maintenance of oil and gas wells. The increasing complexity of horizontal wells drives demand for Titan's products coupled with positive sector dynamics which are driving an anticipated increase in on-shore shale oil and gas production and increases in US land drilling and completion spending.",[],{"_key":33293,"_type":173,"children":33294,"markDefs":33299,"style":182},"167f50f45f55",[33295],{"_key":33296,"_type":177,"marks":33297,"text":33298},"4d517524b9fa0",[],"Due to the size of the Proposed Acquisition, it is subject to, inter alia, shareholder approval, which is currently expected to be obtained in mid-September 2011 at the General Meeting. Completion is expected shortly thereafter.",[],{"_key":33301,"_type":173,"children":33302,"markDefs":33307,"style":14843},"51a75f5dd96c",[33303],{"_key":33304,"_type":177,"marks":33305,"text":33306},"0559c132c8a00",[],"TRANSACTION HIGHLIGHTS",[],{"_key":33309,"_type":173,"children":33310,"markDefs":33315,"style":182},"296c92da7dbb",[33311],{"_key":33312,"_type":177,"marks":33313,"text":33314},"c0fce931c5510",[],"The Board of Hunting believes that the Proposed Acquisition represents a highly complementary extension of the Company's existing portfolio. The combination of Hunting and Titan will better position the Enlarged Group to take advantage of growth opportunities. Key features of the Proposed Acquisition include:",[],{"_key":33317,"_type":173,"children":33318,"level":955,"listItem":2555,"markDefs":33323,"style":182},"877082ca7c29",[33319],{"_key":33320,"_type":177,"marks":33321,"text":33322},"905a3f6e9ac90",[],"Titan is a market leader with proprietary products",[],{"_key":33325,"_type":173,"children":33326,"level":3751,"listItem":2555,"markDefs":33331,"style":182},"f53168e775f3",[33327],{"_key":33328,"_type":177,"marks":33329,"text":33330},"b6f76ada165d0",[],"A market leader in North America in perforating products",[],{"_key":33333,"_type":173,"children":33334,"level":3751,"listItem":2555,"markDefs":33339,"style":182},"3da71960d4eb",[33335],{"_key":33336,"_type":177,"marks":33337,"text":33338},"793184134b730",[],"Portfolio of proprietary products",[],{"_key":33341,"_type":173,"children":33342,"level":3751,"listItem":2555,"markDefs":33347,"style":182},"3a59e3180b17",[33343],{"_key":33344,"_type":177,"marks":33345,"text":33346},"9a729208fa4d0",[],"Well invested facilities requiring minimal capital expenditure",[],{"_key":33349,"_type":173,"children":33350,"level":3751,"listItem":2555,"markDefs":33355,"style":182},"79be583bfa8b",[33351],{"_key":33352,"_type":177,"marks":33353,"text":33354},"d81bcd832edb0",[],"Highly experienced management team",[],{"_key":33357,"_type":173,"children":33358,"level":955,"listItem":2555,"markDefs":33363,"style":182},"b170d5a28aae",[33359],{"_key":33360,"_type":177,"marks":33361,"text":33362},"9636588af32b0",[],"Excellent strategic fit",[],{"_key":33365,"_type":173,"children":33366,"level":3751,"listItem":2555,"markDefs":33371,"style":182},"d69a3c05219b",[33367],{"_key":33368,"_type":177,"marks":33369,"text":33370},"f6214b5915280",[],"Further exposure to high growth unconventional resource plays",[],{"_key":33373,"_type":173,"children":33374,"level":3751,"listItem":2555,"markDefs":33379,"style":182},"6308114ae652",[33375],{"_key":33376,"_type":177,"marks":33377,"text":33378},"54b7d23608810",[],"Titan's products are complementary to Hunting's tools and equipment and enhance Hunting's suite of well construction and completion products",[],{"_key":33381,"_type":173,"children":33382,"level":3751,"listItem":2555,"markDefs":33387,"style":182},"aae2d7a49222",[33383],{"_key":33384,"_type":177,"marks":33385,"text":33386},"84ea6784166b0",[],"Titan's established US in-house distribution combined with Hunting's existing international footprint should create further opportunities",[],{"_key":33389,"_type":173,"children":33390,"level":955,"listItem":2555,"markDefs":33395,"style":182},"341ffff849b6",[33391],{"_key":33392,"_type":177,"marks":33393,"text":33394},"00ceca95557d0",[],"Continued attractive industry dynamics",[],{"_key":33397,"_type":173,"children":33398,"level":3751,"listItem":2555,"markDefs":33403,"style":182},"9af89f6fcec2",[33399],{"_key":33400,"_type":177,"marks":33401,"text":33402},"18bbac7300650",[],"US horizontal drilling grew at an average rate of circa 40 per cent. per annum from 2002 to 2010 as a result of its application in unconventional reservoirs",[],{"_key":33405,"_type":173,"children":33406,"level":3751,"listItem":2555,"markDefs":33411,"style":182},"022d771e37d7",[33407],{"_key":33408,"_type":177,"marks":33409,"text":33410},"73a3d9a010610",[],"Horizontal wells in the US have been increasing in complexity (longer lateral lengths and more frac stages), driving demand for Titan's products",[],{"_key":33413,"_type":173,"children":33414,"level":3751,"listItem":2555,"markDefs":33419,"style":182},"0a4d3c35c4fb",[33415],{"_key":33416,"_type":177,"marks":33417,"text":33418},"033c14896cfc0",[],"US on-shore shale oil production is expected to contribute 30 per cent. of total production in 2016 up from less than 5 per cent. currently",[],{"_key":33421,"_type":173,"children":33422,"level":3751,"listItem":2555,"markDefs":33427,"style":182},"849e18647c0d",[33423],{"_key":33424,"_type":177,"marks":33425,"text":33426},"479a3743524a0",[],"US land drilling and completion spending is projected to grow 60 per cent. from US$110 billion in 2010 to US$176 billion in 2016",[],{"_key":33429,"_type":173,"children":33430,"level":955,"listItem":2555,"markDefs":33435,"style":182},"ddc8eb079b43",[33431],{"_key":33432,"_type":177,"marks":33433,"text":33434},"9369aee202cb0",[],"Attractive returns",[],{"_key":33437,"_type":173,"children":33438,"level":3751,"listItem":2555,"markDefs":33443,"style":182},"2837a89f3920",[33439],{"_key":33440,"_type":177,"marks":33441,"text":33442},"d0a84d628ac40",[],"The Titan Group has strong EBITDA margins",[],{"_key":33445,"_type":173,"children":33446,"level":3751,"listItem":2555,"markDefs":33451,"style":182},"71fe9322e65f",[33447],{"_key":33448,"_type":177,"marks":33449,"text":33450},"08f79adb00b90",[],"The acquisition of the Titan Group is expected to be significantly earnings enhancing in the first full financial year on an underlying basis(1)",[],{"_key":33453,"_type":173,"children":33454,"markDefs":33459,"style":182},"ceb6c2f66e6c",[33455],{"_key":33456,"_type":177,"marks":33457,"text":33458},"6968a4ca48e80",[],"The consideration of US$775 million (£475 million) will be satisfied through Hunting's existing cash balances, the proceeds from the Placing announced separately today, as well as the New Bank Facility of £375 million. The Placing of 13,175,838 new ordinary shares in the Company is fully underwritten and represents approximately 9.9 per cent. of the Company's existing issued share capital. A separate Placing Announcement is being issued by Hunting this morning.",[],{"_key":33461,"_type":173,"children":33462,"markDefs":33467,"style":182},"6f123f51ff49",[33463],{"_key":33464,"_type":177,"marks":33465,"text":33466},"104fc9dc908b0",[],"Following completion of the Acquisition, the Board will retain the financial flexibility to pursue further organic initiatives and acquisition opportunities in line with its stated strategy. Hunting is in advanced negotiations to acquire other complementary businesses which may be secured in the near future for an estimated aggregate consideration of around £90 million. There is no certainty that one or more of these other acquisitions will complete.",[],{"_key":33469,"_type":173,"children":33470,"markDefs":33475,"style":182},"f7c731362a58",[33471],{"_key":33472,"_type":177,"marks":33473,"text":33474},"125c1e8cf7d10",[],"The Acquisition is subject to, inter alia, the approval of Hunting's shareholders at a General Meeting expected to take place in mid-September 2011 and expiration of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended. A Circular is expected to be sent to Shareholders in late August 2011 setting out further details of the Acquisition and convening the General Meeting.",[],{"_key":33477,"_type":173,"children":33478,"markDefs":33483,"style":14843},"d9b23a282bf9",[33479],{"_key":33480,"_type":177,"marks":33481,"text":33482},"f1b2d09ed47b0",[],"HUNTING TRADING UPDATE",[],{"_key":33485,"_type":173,"children":33486,"markDefs":33491,"style":182},"55744dbe0241",[33487],{"_key":33488,"_type":177,"marks":33489,"text":33490},"91f034b0f0530",[],"In advance of the publication of the Company's Half-Year Results on 25 August 2011, Hunting gives the following trading update:",[],{"_key":33493,"_type":173,"children":33494,"markDefs":33499,"style":182},"3f1306288a05",[33495],{"_key":33496,"_type":177,"marks":33497,"text":33498},"11133ff588740",[],"The Company expects to report revenue and EBITDA for the six months ended 30 June 2011 of approximately £250 million and £35 million respectively(2) and the Company anticipates paying an interim dividend of 4p per share.",[],{"_key":33501,"_type":173,"children":33502,"markDefs":33507,"style":182},"972027b33175",[33503],{"_key":33504,"_type":177,"marks":33505,"text":33506},"e8183b186d360",[],"The Board's view of the current trading and prospects for Hunting is in line with its expectations for the year as a whole. With an operational footprint of over 30 sites globally and an increasing range of products and services, Hunting remains well placed to take advantage of the increased investment in oil and gas resources globally.",[],{"_key":33509,"_type":173,"children":33510,"markDefs":33515,"style":14843},"b8fbd8465ef5",[33511],{"_key":33512,"_type":177,"marks":33513,"text":33514},"2a1d77b933050",[],"TITAN TRADING UPDATE",[],{"_key":33517,"_type":173,"children":33518,"markDefs":33523,"style":182},"57e64fee985a",[33519],{"_key":33520,"_type":177,"marks":33521,"text":33522},"50123690a0840",[],"The Titan Group has continued to perform well for the six months ended 30 June 2011 with unaudited revenue and EBITDA of US$114.7 million and US$41.7 million(3), respectively. Revenue in all divisions was higher than that achieved in the first half of 2010. The Perforating and Instruments divisions have grown significantly from the same period last year and are ahead of the management team's expectations for the year.",[],{"_key":33525,"_type":173,"children":33526,"markDefs":33531,"style":182},"f621094b863c",[33527],{"_key":33528,"_type":177,"marks":33529,"text":33530},"a926c429493c0",[],"Commenting on the Proposed Acquisition, Dennis Proctor, Chief Executive of Hunting, said:",[],{"_key":33533,"_type":173,"children":33534,"markDefs":33539,"style":182},"57b402d4e05d",[33535],{"_key":33536,"_type":177,"marks":33537,"text":33538},"08ee699f8baf0",[],"\"Titan is an excellent business and a market leader in perforating products in North America, a market which has exciting opportunities and in which we have been eager to grow. It will fit well within Hunting's Well Construction and Completion divisions offering complementary products and services and a strong US distribution footprint. I believe that Hunting can provide significant additional opportunities for the business through its geographic profile and financial and operational strength in the medium to long term, which will generate significant value for our shareholders.\"",[],{"_key":33541,"_type":173,"children":33542,"markDefs":33547,"style":182},"50a765982745",[33543],{"_key":33544,"_type":177,"marks":33545,"text":33546},"a121b7d1dd690",[],"Commenting on the Proposed Acquisition, Ken Babcock, Chief Executive of Titan, said:",[],{"_key":33549,"_type":173,"children":33550,"markDefs":33555,"style":182},"ea40745ab305",[33551],{"_key":33552,"_type":177,"marks":33553,"text":33554},"3773d6af69000",[],"\"The combination of Titan and Hunting is a great fit. Hunting's international distribution presence will enable Titan to grow much faster internationally and, in addition, Titan will be able to leverage Hunting's global manufacturing footprint.\"",[],{"_key":33557,"_type":173,"children":33558,"markDefs":33563,"style":182},"b79f00e0e81b",[33559],{"_key":33560,"_type":177,"marks":33561,"text":33562},"df8df8391cb00",[],"Commenting on the Proposed Acquisition, N. John Lancaster, Managing Director of Riverstone Holdings added:",[],{"_key":33565,"_type":173,"children":33566,"markDefs":33571,"style":182},"b4dc0ead5c99",[33567],{"_key":33568,"_type":177,"marks":33569,"text":33570},"d40bac4a944c0",[],"\"Following our acquisition of Titan in 2007, Ken and the Titan team have done an outstanding job of expanding Titan's product line and market presence while maintaining the standard of quality and customer service set by its founders over 40 years ago. It is exciting to consider the possibilities for additional growth and international expansion through this combination and the integration of Titan into Hunting's global operations.\"",[],{"_key":33573,"_type":173,"children":33574,"markDefs":33579,"style":14843},"59ad4d6b82ba",[33575],{"_key":33576,"_type":177,"marks":33577,"text":33578},"cd56373a9c0b0",[],"Analyst conference call",[],{"_key":33581,"_type":173,"children":33582,"markDefs":33587,"style":182},"7252e20b0052",[33583],{"_key":33584,"_type":177,"marks":33585,"text":33586},"599b2b9cf2130",[],"The management of Hunting will be hosting a conference call with investment analysts today commencing at 8:30 a.m. BST to discuss this announcement.",[],{"_key":33589,"_type":173,"children":33590,"markDefs":33595,"style":182},"512e987556cf",[33591],{"_key":33592,"_type":177,"marks":33593,"text":33594},"a5112f474e790",[],"Dial in details for the call can be obtained from Buchanan and the presentation accompanying the call is now available at www.huntingplc.com located in the download area of the investor section.",[],{"_key":33597,"_type":173,"children":33598,"markDefs":33602,"style":182},"44147d23f714",[33599],{"_key":33600,"_type":177,"marks":33601,"text":1126},"8a10bad19c2a0",[],[],{"_key":33604,"_type":173,"children":33605,"markDefs":33609,"style":182},"3117b0836436",[33606],{"_key":33607,"_type":177,"marks":33608,"text":32606},"6e2ee3b127800",[],[],{"_key":33611,"_type":173,"children":33612,"markDefs":33617,"style":182},"db480e510599",[33613],{"_key":33614,"_type":177,"marks":33615,"text":33616},"bc7c7f8692500",[179],"Advisors to Hunting",[],{"_key":33619,"_type":173,"children":33620,"markDefs":33625,"style":182},"48aaa566af68",[33621],{"_key":33622,"_type":177,"marks":33623,"text":33624},"37143b1629870",[],"DC Advisory Partners (Sponsor and Financial Advisor)\nAndrew Cunningham\nMichelle Le Merre +44 (0) 20 7856 0999",[],{"_key":33627,"_type":173,"children":33628,"markDefs":33633,"style":182},"cfb489c069c3",[33629],{"_key":33630,"_type":177,"marks":33631,"text":33632},"0310ddbab03e0",[],"Simmons & Company International (Financial Advisor)\nPaul Steier\nFred Charlton +1 713 236 9999",[],{"_key":33635,"_type":173,"children":33636,"markDefs":33641,"style":182},"d013cf51f573",[33637],{"_key":33638,"_type":177,"marks":33639,"text":33640},"27702ae2f81c0",[],"Barclays Capital (Joint Broker)\nAlisdair Gayne\nBertie Whitehead +44 (0) 20 7623 2323",[],{"_key":33643,"_type":173,"children":33644,"markDefs":33649,"style":182},"3809ffb6a1b8",[33645],{"_key":33646,"_type":177,"marks":33647,"text":33648},"d2a7e3af7f590",[],"RBS Hoare Govett (Joint Broker)\nStephen Bowler\nMax Jones +44 (0) 20 7678 8000",[],{"_key":33651,"_type":173,"children":33652,"markDefs":33657,"style":182},"0f8cdccbac31",[33653],{"_key":33654,"_type":177,"marks":33655,"text":33656},"e34988c9f5410",[],"CMS Cameron McKenna LLP (Legal Advisor)\nGary Green +44 (0) 20 7367 3000",[],{"_key":33659,"_type":173,"children":33660,"markDefs":33665,"style":182},"923c87cfa27e",[33661],{"_key":33662,"_type":177,"marks":33663,"text":33664},"32d404fd255e0",[],"Locke Lord (Legal Advisor) +1 713 226 1200",[],{"_key":33667,"_type":173,"children":33668,"markDefs":33673,"style":182},"86d4548fa37a",[33669],{"_key":33670,"_type":177,"marks":33671,"text":33672},"c9418042444f0",[],"Buchanan\nRichard Darby\nGabriella Clinkard +44 (0) 20 7466 5000",[],{"_key":33675,"_type":173,"children":33676,"markDefs":33681,"style":182},"6bc50ef91142",[33677],{"_key":33678,"_type":177,"marks":33679,"text":33680},"7acf95f84e0c0",[179],"Advisors to Titan",[],{"_key":33683,"_type":173,"children":33684,"markDefs":33689,"style":182},"a8c93daa97b1",[33685],{"_key":33686,"_type":177,"marks":33687,"text":33688},"1365c6c2ec4a0",[],"Goldman Sachs & Co. (Financial Advisor)\n+1 713 654 8400",[],{"_key":33691,"_type":173,"children":33692,"markDefs":33697,"style":182},"b31a056ea838",[33693],{"_key":33694,"_type":177,"marks":33695,"text":33696},"2840663ccb6f0",[],"Vinson & Elkins LLP (Legal Advisor)\n+1 214 220 7729",[],{"_key":33699,"_type":173,"children":33700,"markDefs":33704,"style":14843},"3f3ad89f847b",[33701],{"_key":33702,"_type":177,"marks":33703,"text":10958},"5593756aa1ad0",[],[],{"_key":33706,"_type":173,"children":33707,"markDefs":33711,"style":182},"04996575b32e",[33708],{"_key":33709,"_type":177,"marks":33710,"text":12234},"e0f4eacdc50a0",[216],[],{"_key":33713,"_type":173,"children":33714,"markDefs":33718,"style":182},"2ab3ffa6c7b7",[33715],{"_key":33716,"_type":177,"marks":33717,"text":30446},"771d3f2128d50",[],[],{"_key":33720,"_type":173,"children":33721,"markDefs":33726,"style":182},"2b407cafaf50",[33722],{"_key":33723,"_type":177,"marks":33724,"text":33725},"778237298e800",[216],"Forward-looking Statements",[],{"_key":33728,"_type":173,"children":33729,"markDefs":33742,"style":182},"38af1df10e89",[33730,33734,33738],{"_key":33731,"_type":177,"marks":33732,"text":33733},"fb30c2dd6f830",[],"This announcement contains (or may contain) certain forward-looking statements with respect to certain of Hunting's plans and its current goals and expectations relating to its future financial condition and performance and which involve a number of risks and uncertainties. Hunting cautions readers that no forward-looking statement is a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking statements. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements sometimes use words such as 'aim', 'anticipate', 'target', 'expect', 'estimate', 'intend', 'plan', 'goal', 'believe', or other words of similar meaning. Examples of forward-looking statements include, among others, statements regarding Hunting's future financial position, income growth, impairment charges, business strategy, projected levels of growth in its markets, projected costs, estimates of capital expenditure, and plans and objectives for future operations of Hunting and other statements that are not historical fact.\n\nBy their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances, including, but not limited to, UK domestic and global economic and business conditions, the effects of continued volatility in credit markets, market-related risks such as changes in interest rates and exchange rates, the policies and actions of governmental and regulatory authorities, changes in legislation, the further development of standards and interpretations under International Financial Reporting Standards (\"IFRS\") applicable to past, current and future periods, evolving practices with regard to the interpretation and application of standards under IFRS, the outcome of pending and future litigation, the success of future acquisitions and other strategic transactions and the impact of competition - a number of which factors are beyond Hunting's control. As a result, Hunting's actual future results may differ materially from the plans, goals, and expectations set forth in Hunting's forwardlooking statements. Any forward-looking statements made herein by or on behalf of Hunting speak only as of the date they are made. Except as required by the FSA, the London Stock Exchange or applicable law, Hunting expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained in this announcement to reflect any changes in Hunting's expectations with regard thereto or any changes in events, conditions or circumstances on which any such statement is based.\n\nThis announcement has been issued by and is the sole responsibility of Hunting. No representation or warranty, express or implied, is or will be made as to, or in relation to, and no responsibility or liability is or will be accepted by DC Advisory Partners, Barclays Capital and\u002For RBS Hoare Govett or any of their respective affiliates or agents as to or in relation to, the accuracy or completeness of this announcement or any other written or oral information made available to or publicly available (\"Publicly Available Information\") to any interested party or its advisers, and any liability therefore is expressly disclaimed.\n\nBarclays Capital, which is authorised and regulated by the FSA, is acting exclusively for Hunting and for no one else and will not be responsible to anyone other than Hunting for providing the protections afforded to the customers of Barclays Capital or in relation to the contents of this announcement or any other transaction, arrangement or matter referred to herein.\n\nRBS Hoare Govett, which is authorised and regulated by the FSA, is acting exclusively for Hunting and for no one else and will not be responsible to anyone other than Hunting for providing the protections afforded to the customers of RBS Hoare Govett or in relation to the contents of this announcement or any other transaction, arrangement or matter referred to herein.\n\nDC Advisory Partners, which is authorised and regulated by the FSA, is acting exclusively for Hunting and no one else and will not be responsible to any person other than Hunting for providing the protections afforded to the customers of DC Advisory Partners or in relation to the contents of this announcement or any other transaction, arrangement or matter referred to herein.\n\nThese written materials do not contain or constitute an offer of or the solicitation of an offer to buy or subscribe for securities to any person in Australia, Canada, Japan or the United States or in any jurisdiction in which such offer or solicitation is unlawful. The securities referred to herein may not be offered or sold in the United States absent registration under the US Securities Act of 1933, as amended or an exemption from, or in a transaction not subject to, registration. Subject to certain exceptions, the securities referred to herein may not be offered or sold in Australia, Canada or Japan or to, or for the account or benefit of, any national, resident or citizen of Australia, Canada or Japan. The offer and sale of the securities referred to herein has not been and will not be registered under the US Securities Act of 1933, as amended, or under the applicable securities laws of Australia, Canada or Japan. There will be no public offer of the securities in the United States.\n\nThis document (and the information contained herein) is not for release, publication or distribution, directly or indirectly, in or into the United States, Australia, Canada or Japan.\n\n",{"_key":33735,"_type":177,"marks":33736,"text":33737},"fb30c2dd6f831",[216],"Note regarding presentation of currencies",{"_key":33739,"_type":177,"marks":33740,"text":33741},"fb30c2dd6f832",[],"\n\nFor the purpose of this document and unless otherwise stated, a pound sterling to United States dollar exchange rate of 1:1.63 has been applied for illustrative purposes (source: Financial Times: closing midrate of exchange on 4 August 2011) to calculate the pounds sterling equivalent of the consideration for the Acquisition and any United States dollar amounts related to the Acquisition. Such translations should not be considered as a representation that such currencies could have been or could be converted into pounds sterling or United States dollars (as the case may be) at any particular rate, the rates stated above or at all.",[],[33744],{"_key":33745,"_ref":1713,"_type":141},"3f2492d1dfe0","Hunting PLC (LSE:HTG), the international energy services group, is pleased to announce that it has agreed to acquire TSI Acquisition Holdings LLC and","2011-08-05T08:11:00.000Z",{"_type":9,"current":33749},"05-08-2011",[33751,33753,33755],{"_key":33752,"_ref":7180,"_type":141},"3640c2f4e062",{"_key":33754,"_ref":10968,"_type":141},"c42350ceed42",{"_key":33756,"_ref":15791,"_type":141},"d6d5f63b0828","Proposed acquisition of the Titan Group & Trading Statement","\u002Fnews\u002F05-08-2011",{"_createdAt":33760,"_id":33761,"_rev":10063,"_type":168,"_updatedAt":116,"body":33762,"categories":33859,"introText":33862,"publishedAt":33863,"slug":33864,"tags":33866,"title":33791,"url":33871},"2023-02-21T09:14:13Z","4792648b-0a3a-4979-91a7-30299e669f38",[33763,33771,33778,33785,33793,33801,33815,33823,33831,33838,33845,33852],{"_key":33764,"_type":173,"children":33765,"markDefs":33770,"style":182},"16fdea79bf48",[33766],{"_key":33767,"_type":177,"marks":33768,"text":33769},"4a6a257a1b470",[],"For Immediate Release 30 April 2011",[],{"_key":33772,"_type":173,"children":33773,"markDefs":33777,"style":182},"507843bf6bbd",[33774],{"_key":33775,"_type":177,"marks":33776,"text":20410},"ac12d19d43750",[],[],{"_key":33779,"_type":173,"children":33780,"markDefs":33784,"style":182},"91a7027c9c52",[33781],{"_key":33782,"_type":177,"marks":33783,"text":32146},"73b79cb3fb960",[],[],{"_key":33786,"_type":173,"children":33787,"markDefs":33792,"style":14843},"029479a630dc",[33788],{"_key":33789,"_type":177,"marks":33790,"text":33791},"d88543141554",[],"Hunting Art Prize 2011",[],{"_key":33794,"_type":173,"children":33795,"markDefs":33800,"style":182},"66d327748e82",[33796],{"_key":33797,"_type":177,"marks":33798,"text":33799},"566d8b0760c70",[],"This year's $50,000 Hunting Art Prize has been awarded to Houston artist, Leigh Anne Webster for her remarkable work Mutant Spectre. Selected from a field of 113 finalists, the winning piece is a graphite drawing that combines different elements of plant life to create a hybrid species, a reflection on the far-reaching possibilities of genetic modification. The announcement was made in April at a gala evening held at Houston's Friedkin Corporate Campus, Toyota Gulf States. Plans for the Hunting Art Prize 2012 are already underway. The competition is open to all amateur, budding and established Texan artists, aged 18 or over. Proceeds from the gala event, which raised $125,000 went to Oilfield Helping Hands (OHH) - a charity established to lend a hand to those in the energy industry who involuntarily find themselves faced with serious personal and economic challenges.",[],{"_key":33802,"_type":173,"children":33803,"markDefs":33813,"style":182},"304504741c2b",[33804,33808],{"_key":33805,"_type":177,"marks":33806,"text":33807},"486b4e8e63d70",[],"For further information, please view the art prize website at ",{"_key":33809,"_type":177,"marks":33810,"text":33812},"486b4e8e63d71",[33811],"a2714d89acdd","http:\u002F\u002Fwww.huntingartprize.com",[33814],{"_key":33811,"_type":138,"href":30070},{"_key":33816,"_type":173,"children":33817,"markDefs":33822,"style":182},"1b09dbb3b5df",[33818],{"_key":33819,"_type":177,"marks":33820,"text":33821},"eb471e9663c40",[],"Or contact:",[],{"_key":33824,"_type":173,"children":33825,"markDefs":33830,"style":182},"29a3146970c6",[33826],{"_key":33827,"_type":177,"marks":33828,"text":33829},"a543c2c9a3760",[],"Hunting PLC\nTel: +44 (0) 20 7321 0123\npr@hunting.plc.uk",[],{"_key":33832,"_type":173,"children":33833,"markDefs":33837,"style":182},"f4ed40d2e0c3",[33834],{"_key":33835,"_type":177,"marks":33836,"text":180},"5201c27c5e080",[],[],{"_key":33839,"_type":173,"children":33840,"markDefs":33844,"style":14843},"1382f87399c2",[33841],{"_key":33842,"_type":177,"marks":33843,"text":10958},"52ffc0d2d1990",[],[],{"_key":33846,"_type":173,"children":33847,"markDefs":33851,"style":182},"ffaf4c8cf376",[33848],{"_key":33849,"_type":177,"marks":33850,"text":12234},"a9136dee01e70",[216],[],{"_key":33853,"_type":173,"children":33854,"markDefs":33858,"style":182},"03fd1b13a1ce",[33855],{"_key":33856,"_type":177,"marks":33857,"text":30446},"65716a633deb0",[],[],[33860],{"_key":33861,"_ref":1713,"_type":141},"b106edaee90b","This year's $50,000 Hunting Art Prize has been awarded to Houston artist, Leigh Anne Webster for","2011-04-30T08:13:00.000Z",{"_type":9,"current":33865},"30-04-2011a",[33867,33869],{"_key":33868,"_ref":7180,"_type":141},"c67f80afa7af",{"_key":33870,"_ref":28088,"_type":141},"706a085d39c7","\u002Fnews\u002F30-04-2011a",{"_createdAt":33873,"_id":33874,"_rev":12607,"_type":168,"_updatedAt":116,"body":33875,"categories":33964,"introText":33967,"publishedAt":33968,"slug":33969,"tags":33971,"title":8127,"url":33974},"2023-02-21T09:15:38Z","151eef6b-9735-42f3-9d6e-80a424a2ea26",[33876,33884,33891,33898,33905,33913,33921,33929,33936,33943,33950,33957],{"_key":33877,"_type":173,"children":33878,"markDefs":33883,"style":182},"9b3fa08375d7",[33879],{"_key":33880,"_type":177,"marks":33881,"text":33882},"9f0ba5cdab5e0",[],"For Immediate Release 11 April 2011",[],{"_key":33885,"_type":173,"children":33886,"markDefs":33890,"style":182},"76ed99ca6026",[33887],{"_key":33888,"_type":177,"marks":33889,"text":20410},"a368fa60cfe30",[],[],{"_key":33892,"_type":173,"children":33893,"markDefs":33897,"style":182},"d6f1bf0e3338",[33894],{"_key":33895,"_type":177,"marks":33896,"text":32146},"b21206567d3a0",[],[],{"_key":33899,"_type":173,"children":33900,"markDefs":33904,"style":14843},"4e4d192f6fe1",[33901],{"_key":33902,"_type":177,"marks":33903,"text":8127},"0d4d14a7c330",[],[],{"_key":33906,"_type":173,"children":33907,"markDefs":33912,"style":182},"c7dc39f9c41f",[33908],{"_key":33909,"_type":177,"marks":33910,"text":33911},"f7c7bbe5d9470",[],"Hunting PLC (LSE: HTG) the international energy services group today announces that David Barr, non executive Director, has stepped down from the Board with immediate effect. Since his appointment as a Director, Mr Barr has been appointed Chief Executive Officer of Logan International Inc. and is therefore unable to allocate sufficient time to his role as a Director of Hunting. 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In anticipation of this, during the year the Group invested heavily in new facilities and commenced a number of expansion programmes designed to position us to meet the growing demand for our products and services.\"",[],{"_key":34140,"_type":173,"children":34141,"markDefs":34146,"style":13454},"bf342a47069b",[34142],{"_key":34143,"_type":177,"marks":34144,"text":34145},"d06fbc165df30",[216],"\"We are also delighted to have completed the acquisition of Innova-Extel in the year, which increases our technology offering and IP portfolio.\"",[],{"_key":34148,"_type":173,"children":34149,"markDefs":34154,"style":13454},"c1f6f5e3e924",[34150],{"_key":34151,"_type":177,"marks":34152,"text":34153},"2648c2b0fd590",[216],"\"2011 has seen a continuation in the strong forward momentum developed throughout 2010 and we look forward to another year of growth.\"",[],{"_key":34156,"_type":173,"children":34157,"markDefs":34162,"style":182},"154983472814",[34158],{"_key":34159,"_type":177,"marks":34160,"text":34161},"12c61a3edb550",[],"An analyst presentation will be held at 11:00am. today at the offices of Buchanan Communications, 45 Moorfields, London, EC2Y 9AE.",[],{"_key":34164,"_type":173,"children":34165,"markDefs":34169,"style":182},"64627ca741ea",[34166],{"_key":34167,"_type":177,"marks":34168,"text":5318},"8bc4c23a6d9c0",[179],[],{"_key":34171,"_type":173,"children":34172,"markDefs":34176,"style":182},"289a32b95d8d",[34173],{"_key":34174,"_type":177,"marks":34175,"text":30891},"8eb39bab6a2f0",[],[],{"_key":34178,"_type":173,"children":34179,"markDefs":34183,"style":182},"840ce2688b90",[34180],{"_key":34181,"_type":177,"marks":34182,"text":30899},"c7073b92211a0",[],[],{"_key":34185,"_type":173,"children":34186,"markDefs":34197,"style":182},"3487297e44de",[34187,34190,34193],{"_key":34188,"_type":177,"marks":34189,"text":33014},"bf732e09b7900",[179],{"_key":34191,"_type":177,"marks":34192,"text":33018},"bf732e09b7901",[],{"_key":34194,"_type":177,"marks":34195,"text":2296},"bf732e09b7902",[34196],"708deba3fc3b",[34198],{"_key":34196,"_type":138,"href":2303},{"_key":34200,"_type":173,"children":34201,"markDefs":34205,"style":14843},"c1c7992a6dfb",[34202],{"_key":34203,"_type":177,"marks":34204,"text":10958},"cd32e6a4fb100",[],[],{"_key":34207,"_type":173,"children":34208,"markDefs":34212,"style":182},"9002974ad1e8",[34209],{"_key":34210,"_type":177,"marks":34211,"text":12234},"e72fc1db986e0",[216],[],{"_key":34214,"_type":173,"children":34215,"markDefs":34219,"style":182},"2ac24968df6f",[34216],{"_key":34217,"_type":177,"marks":34218,"text":30687},"e05485663c5f0",[],[],[34221],{"_key":34222,"_ref":1713,"_type":141},"72061d9cc08b",[34224],{"_key":34225,"_type":10023,"asset":34226,"title":34228},"0428bd8fc59b",{"_ref":34227,"_type":141},"file-c51e3533ddf433a5def114d79bdb012f26a7c249-pdf","Download Full Year Results 2010","Hunting PLC (LSE:HTG), the international energy services company,","2011-02-24T09:20:00.000Z",{"_type":9,"current":34232},"24-02-2011",[34234,34236],{"_key":34235,"_ref":7180,"_type":141},"b64714bc0c37",{"_key":34237,"_ref":15507,"_type":141},"2fa5322e529e","\u002Fnews\u002F24-02-2011",{"_createdAt":34240,"_id":34241,"_rev":10453,"_type":168,"_updatedAt":116,"body":34242,"categories":34331,"introText":34334,"publishedAt":34335,"slug":34336,"tags":34338,"title":32454,"url":34343},"2023-02-21T09:57:54Z","b2859aa7-954a-4a7e-9d82-9d15e2c344f1",[34243,34250,34257,34265,34273,34280,34288,34295,34302,34313,34320],{"_key":34244,"_type":173,"children":34245,"markDefs":34249,"style":182},"bf12568f6335",[34246],{"_key":34247,"_type":177,"marks":34248,"text":20410},"4686005a7e7a0",[],[],{"_key":34251,"_type":173,"children":34252,"markDefs":34256,"style":14843},"f93349a74186",[34253],{"_key":34254,"_type":177,"marks":34255,"text":32454},"d8abcaf153df",[],[],{"_key":34258,"_type":173,"children":34259,"markDefs":34264,"style":182},"c82f7bbce603",[34260],{"_key":34261,"_type":177,"marks":34262,"text":34263},"4f4f78dd6cbf0",[],"Hunting PLC (LSE:HTG), the international energy services group today announces the appointment of David Barr as a non-executive director of the Company with effect from 1 January 2011.",[],{"_key":34266,"_type":173,"children":34267,"markDefs":34272,"style":182},"902a5c6cc583",[34268],{"_key":34269,"_type":177,"marks":34270,"text":34271},"8f730a9272320",[],"David Barr (aged 61), a US citizen, is a former executive of Baker Hughes Inc., where most recently he held the position of Group President of Completion and Production. 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Established in 1874, it is a fully listed public company traded on the London Stock Exchange. The Company maintains a corporate office in Houston and is headquartered in London. As well as the United Kingdom, the Company has principal operations in Canada, China, Hong Kong, Indonesia, Mexico, Netherlands, Singapore, United Arab Emirates and the United States of America.",[],[34332],{"_key":34333,"_ref":1713,"_type":141},"62861aecd855","Hunting PLC (LSE:HTG), the international energy services group today announces","2010-12-17T09:57:00.000Z",{"_type":9,"current":34337},"17-12-2010",[34339,34341],{"_key":34340,"_ref":7180,"_type":141},"15f797c70f89",{"_key":34342,"_ref":16463,"_type":141},"8f38e6a63852","\u002Fnews\u002F17-12-2010",{"_createdAt":34345,"_id":34346,"_rev":8289,"_type":168,"_updatedAt":116,"body":34347,"categories":34560,"introText":34563,"publishedAt":34564,"slug":34565,"tags":34567,"title":33062,"url":34572},"2023-02-21T09:59:42Z","0df729e9-0b39-4eda-a9de-114bc7d550d4",[34348,34356,34364,34372,34380,34388,34396,34404,34412,34420,34428,34436,34443,34451,34459,34467,34475,34483,34491,34499,34507,34515,34523,34530,34537,34545,34552],{"_key":34349,"_type":173,"children":34350,"markDefs":34355,"style":182},"f3448c264d6c",[34351],{"_key":34352,"_type":177,"marks":34353,"text":34354},"b3be74eaa3280",[],"For Immediate Release 26 August 2010",[],{"_key":34357,"_type":173,"children":34358,"markDefs":34363,"style":182},"43f243f24ecd",[34359],{"_key":34360,"_type":177,"marks":34361,"text":34362},"182841730f170",[],"Hunting PLC (\"Hunting\" or \"the Company\" or \"the Group\")\nHalf Year Results",[],{"_key":34365,"_type":173,"children":34366,"markDefs":34371,"style":182},"0abd8d36b939",[34367],{"_key":34368,"_type":177,"marks":34369,"text":34370},"c34d98de6a040",[],"Hunting PLC (LSE:HTG) the international energy services group today announces its results for the six months to 30 June 2010.",[],{"_key":34373,"_type":173,"children":34374,"markDefs":34379,"style":14843},"350bd0820114",[34375],{"_key":34376,"_type":177,"marks":34377,"text":34378},"bed1c8c7c2150",[],"Financial Highlights - from continuing operations:",[],{"_key":34381,"_type":173,"children":34382,"level":955,"listItem":2555,"markDefs":34387,"style":182},"4621846efd89",[34383],{"_key":34384,"_type":177,"marks":34385,"text":34386},"1b5f68a8a5a80",[],"Revenue increased to £214.2m (2009: £209.0m)",[],{"_key":34389,"_type":173,"children":34390,"level":955,"listItem":2555,"markDefs":34395,"style":182},"097540bfd757",[34391],{"_key":34392,"_type":177,"marks":34393,"text":34394},"14e62ad0cfce0",[],"Profit from operations before exceptional items of £22.0m (2009: £22.0m), compares with £13.8m profit from operations achieved in the second half of 2009",[],{"_key":34397,"_type":173,"children":34398,"level":955,"listItem":2555,"markDefs":34403,"style":182},"f317431b3378",[34399],{"_key":34400,"_type":177,"marks":34401,"text":34402},"93662010a2ea0",[],"Profit from operations of £14.8m (2009: £22.0m)",[],{"_key":34405,"_type":173,"children":34406,"level":955,"listItem":2555,"markDefs":34411,"style":182},"3bce20641731",[34407],{"_key":34408,"_type":177,"marks":34409,"text":34410},"3b3c46bbc9ed0",[],"Basic earnings per share before exceptional items 11.2p (2009: 11.7p)",[],{"_key":34413,"_type":173,"children":34414,"level":955,"listItem":2555,"markDefs":34419,"style":182},"0cbd4f68bae5",[34415],{"_key":34416,"_type":177,"marks":34417,"text":34418},"741adbd46cf80",[],"Basic earnings per share 7.3p (2009: 11.7p)",[],{"_key":34421,"_type":173,"children":34422,"level":955,"listItem":2555,"markDefs":34427,"style":182},"2458492818a9",[34423],{"_key":34424,"_type":177,"marks":34425,"text":34426},"781f37fa42020",[],"Interim dividend declared of 3.7p (2009: 3.5p)",[],{"_key":34429,"_type":173,"children":34430,"level":955,"listItem":2555,"markDefs":34435,"style":182},"4850efd8cb88",[34431],{"_key":34432,"_type":177,"marks":34433,"text":34434},"b69c75423a940",[],"Net cash of £314.1m (2009: £387.6m)",[],{"_key":34437,"_type":173,"children":34438,"markDefs":34442,"style":14843},"8104babaeefc",[34439],{"_key":34440,"_type":177,"marks":34441,"text":9293},"d3ddaf568c4f0",[],[],{"_key":34444,"_type":173,"children":34445,"markDefs":34450,"style":182},"977675894aa4",[34446],{"_key":34447,"_type":177,"marks":34448,"text":34449},"9eea2fdeaf430",[],"Acquisition of Innova-Extel announced on 16 August 2010 for a cash consideration of US$125 million extends the Group's product offering in Well Construction portfolio - expected to complete by the end of August",[],{"_key":34452,"_type":173,"children":34453,"markDefs":34458,"style":182},"24c584959eeb",[34454],{"_key":34455,"_type":177,"marks":34456,"text":34457},"3d442fe50acd0",[],"Capital expenditure in the period increased to £19.1m (2009: £10.9m) and includes:",[],{"_key":34460,"_type":173,"children":34461,"level":955,"listItem":2555,"markDefs":34466,"style":182},"5bbc35d453a0",[34462],{"_key":34463,"_type":177,"marks":34464,"text":34465},"2b90b0b349350",[],"Expansion of Casper, Wyoming facility",[],{"_key":34468,"_type":173,"children":34469,"level":955,"listItem":2555,"markDefs":34474,"style":182},"31124983170e",[34470],{"_key":34471,"_type":177,"marks":34472,"text":34473},"4a5e51d53fd70",[],"Completion of drilling tools facility at Conroe, Texas",[],{"_key":34476,"_type":173,"children":34477,"level":955,"listItem":2555,"markDefs":34482,"style":182},"fa12fea6d56b",[34478],{"_key":34479,"_type":177,"marks":34480,"text":34481},"780cc2f21e600",[],"Commissioning of Wuxi facility in China",[],{"_key":34484,"_type":173,"children":34485,"level":955,"listItem":2555,"markDefs":34490,"style":182},"251be76b1310",[34486],{"_key":34487,"_type":177,"marks":34488,"text":34489},"c0b4bb1f53af0",[],"Completion of pipe and tubular goods inventory and management facility in Fordoun, Scotland",[],{"_key":34492,"_type":173,"children":34493,"level":955,"listItem":2555,"markDefs":34498,"style":182},"2540dfa5296f",[34494],{"_key":34495,"_type":177,"marks":34496,"text":34497},"6df225de24a80",[],"Purchase of facility in Pennsylvania to access Marcellus shale gas play",[],{"_key":34500,"_type":173,"children":34501,"markDefs":34506,"style":182},"bac72b1aef8a",[34502],{"_key":34503,"_type":177,"marks":34504,"text":34505},"7d80d1a85cf30",[],"First commercial orders received for Chemical Injection Systems - 8 units shipped to date",[],{"_key":34508,"_type":173,"children":34509,"markDefs":34514,"style":182},"2ed6f40331ba",[34510],{"_key":34511,"_type":177,"marks":34512,"text":34513},"693fb10a109d0",[],"Sales and marketing agreement signed with ArcelorMittal for new OCTG mill in Saudi Arabia",[],{"_key":34516,"_type":173,"children":34517,"markDefs":34522,"style":182},"aef65c6ec500",[34518],{"_key":34519,"_type":177,"marks":34520,"text":34521},"c3d2a4e1bdd30",[],"Commenting on the results Dennis Proctor, Chief Executive, said: \"Despite the moratorium on deep water drilling in the Gulf of Mexico, the outlook for trading conditions in the second half of 2010 remains encouraging. Hunting remains in an enviable position, with firming end-markets, a strong balance sheet, and an active acquisition and internal investment programme, which will provide the Group with excellent opportunities for growth. We are particularly pleased to have announced the acquisition of Innova-Extel which will contribute to our ongoing performance, and increases our technology and intellectual property position.\"",[],{"_key":34524,"_type":173,"children":34525,"markDefs":34529,"style":182},"3481a4bddbbe",[34526],{"_key":34527,"_type":177,"marks":34528,"text":1126},"c0001d3232ac0",[179],[],{"_key":34531,"_type":173,"children":34532,"markDefs":34536,"style":182},"fc7122be6b20",[34533],{"_key":34534,"_type":177,"marks":34535,"text":27846},"b8949183933b0",[],[],{"_key":34538,"_type":173,"children":34539,"markDefs":34544,"style":182},"e932f03316b4",[34540],{"_key":34541,"_type":177,"marks":34542,"text":34543},"20a285f032070",[],"Buchanan Communications\nDennis Proctor, Chief Executive\nPeter Rose, Finance Director Tel: +44 (0) 20 7466 5000",[],{"_key":34546,"_type":173,"children":34547,"markDefs":34551,"style":14843},"f73f85841a5e",[34548],{"_key":34549,"_type":177,"marks":34550,"text":15491},"44782b7cbf940",[],[],{"_key":34553,"_type":173,"children":34554,"markDefs":34559,"style":182},"6c72e8a08303",[34555],{"_key":34556,"_type":177,"marks":34557,"text":34558},"50ec908d82ff0",[],"Hunting PLC is an international energy services provider to the world's leading upstream oil and gas companies. Established in 1874, it is a fully listed public company traded on the London Stock Exchange. The Company maintains a corporate office in Houston and is headquartered in London. As well as the United Kingdom, the Company has principal operations in Canada, China, Holland, Hong Kong, Indonesia, Mexico, Singapore, United Arab Emirates and the United States of America.",[],[34561],{"_key":34562,"_ref":1713,"_type":141},"2c465e8663cf","Hunting PLC today announces its results for the six months to 30 June 2010","2010-08-26T08:58:00.000Z",{"_type":9,"current":34566},"26-08-2010",[34568,34570],{"_key":34569,"_ref":7180,"_type":141},"19d7661af68c",{"_key":34571,"_ref":15507,"_type":141},"e2a89b9757ff","\u002Fnews\u002F26-08-2010",{"_createdAt":34574,"_id":34575,"_rev":8289,"_type":168,"_updatedAt":116,"body":34576,"categories":34734,"introText":34737,"publishedAt":34738,"slug":34739,"tags":34741,"title":34746,"url":34747},"2023-02-21T09:59:54Z","a2d502f8-0883-4b1f-9ba0-6b98e03d81da",[34577,34585,34592,34600,34608,34616,34624,34632,34640,34648,34656,34664,34672,34680,34687,34695,34703,34711,34719,34727],{"_key":34578,"_type":173,"children":34579,"markDefs":34584,"style":182},"f0452589117e",[34580],{"_key":34581,"_type":177,"marks":34582,"text":34583},"0074cc9fba750",[],"Hunting PLC (\"Hunting\" or \"the Company\" or \"the Group\")",[],{"_key":34586,"_type":173,"children":34587,"markDefs":34591,"style":14843},"7cc20e4ccd09",[34588],{"_key":34589,"_type":177,"marks":34590,"text":32154},"12cd225a688d",[],[],{"_key":34593,"_type":173,"children":34594,"markDefs":34599,"style":182},"00a6bd8d8e6c",[34595],{"_key":34596,"_type":177,"marks":34597,"text":34598},"101a6c547a5d0",[],"Hunting acquires Innova-Extel for US$125 million",[],{"_key":34601,"_type":173,"children":34602,"markDefs":34607,"style":182},"4afc9113229a",[34603],{"_key":34604,"_type":177,"marks":34605,"text":34606},"5a58764019df0",[],"Hunting PLC (LSE: HTG), the international energy services group today announces the acquisition of Innova-Extel Acquisition Holdings Inc. (\"Innova-Extel\"), a leading supplier of harsh environment electronics technology to the global energy industry, for a cash consideration of US$125 million. The consideration, which will be paid on completion, will be reduced or increased by any debt or cash respectively remaining in the business on the date of completion. The acquisition is subject to certain conditions which are expected to conclude by the end of August 2010, when completion will take place. Before taking account of related acquisition costs, it is expected the acquisition will be earnings enhancing in 2010(1).",[],{"_key":34609,"_type":173,"children":34610,"markDefs":34615,"style":182},"a471f3f43f8b",[34611],{"_key":34612,"_type":177,"marks":34613,"text":34614},"5a6201bde29b0",[],"Founded in 1989 and located in Houston, Texas, Innova-Extel employs approximately 300 people operating from two sites totalling 170,000 square feet. Innova Electronics, the core business, manufactures harsh environment printed circuit boards (\"PCBs\") for downhole logging tools. PCBs are part of a downhole product offering including mud motors and measurement-while-drilling (MWD) systems that are packaged with onsite services, providing a comprehensive directional drilling solution. This business also offers several proprietary products for use in downhole tools including power connectors and power supplies as well as system integration services for harsh environment computers. In addition, Extel is a precision machining facility focused on providing downhole completion tools to the oil and gas industry.",[],{"_key":34617,"_type":173,"children":34618,"markDefs":34623,"style":182},"52d38014cba1",[34619],{"_key":34620,"_type":177,"marks":34621,"text":34622},"8223c5e123090",[],"Innova-Extel's consolidated 2009 profits before tax were US$1.1 million with an EBITDA of US$13.7 million, after adjusting for non-recurring items of US$0.8 million.",[],{"_key":34625,"_type":173,"children":34626,"markDefs":34631,"style":182},"a122ddf469ac",[34627],{"_key":34628,"_type":177,"marks":34629,"text":34630},"59974d48d70e",[],"The consolidated figures comprise:",[],{"_key":34633,"_type":173,"children":34634,"level":955,"listItem":2555,"markDefs":34639,"style":182},"f90a47b4d9fc",[34635],{"_key":34636,"_type":177,"marks":34637,"text":34638},"7ba22225af990",[],"Innova Electronics generated an EBITDA in 2009 of US$14.2 million, with Hunting attributing US$110 million of the consideration to this part of the business.",[],{"_key":34641,"_type":173,"children":34642,"level":955,"listItem":2555,"markDefs":34647,"style":182},"eda230f24a7e",[34643],{"_key":34644,"_type":177,"marks":34645,"text":34646},"545dda5141120",[],"Extel generated an EBITDA loss of US$0.5 million in 2009, representing the balance of the consideration.",[],{"_key":34649,"_type":173,"children":34650,"markDefs":34655,"style":182},"0a5a57297d07",[34651],{"_key":34652,"_type":177,"marks":34653,"text":34654},"cc2bf46160ad0",[],"The net assets and gross assets of Innova-Extel at 31 December 2009 were US$55.3 million and US$119.8 million respectively. The acquisition will add a significant element to Hunting's Well Construction portfolio. The global directional drilling market grew at an annual average rate of 22% per annum from 2000 to 2008. From 2000 through 2009, annual growth of the rotary steerable market was approximately 44%. Today, approximately two-thirds of all wells drilled in the world are expected to be drilled either directionally or horizontally.",[],{"_key":34657,"_type":173,"children":34658,"markDefs":34663,"style":182},"366bdb3ce1f1",[34659],{"_key":34660,"_type":177,"marks":34661,"text":34662},"44eaeef52a8e0",[],"Hunting is acquiring Innova-Extel from American Capital, certain American Capital affiliates and senior management. American Capital is a NASDAQ listed, US private equity firm and asset manager. Following completion of the acquisition, the senior management will continue to be involved in the business.",[],{"_key":34665,"_type":173,"children":34666,"markDefs":34671,"style":182},"fba96cd15927",[34667],{"_key":34668,"_type":177,"marks":34669,"text":34670},"fe65157bb26c0",[],"Commenting on the acquisition, Dennis Proctor Chief Executive of Hunting said:",[],{"_key":34673,"_type":173,"children":34674,"markDefs":34679,"style":13454},"1458c873b186",[34675],{"_key":34676,"_type":177,"marks":34677,"text":34678},"843ed5ade44e0",[],"\"We are delighted to be announcing the acquisition of Innova-Extel which forms an important component of our stated growth strategy. Innova-Extel adds a very important part to our technology strength for high temperature, high pressure applications. Operators rely on this technology to acquire real time data in downhole measurements. Combined with the growth of directional and horizontal drilling and our existing product offering, this acquisition will further strengthen our position in complex drilling environments.\"",[],{"_key":34681,"_type":173,"children":34682,"markDefs":34686,"style":182},"0ec35dab0140",[34683],{"_key":34684,"_type":177,"marks":34685,"text":1126},"4230790712f50",[179],[],{"_key":34688,"_type":173,"children":34689,"markDefs":34694,"style":182},"30c307adf37b",[34690],{"_key":34691,"_type":177,"marks":34692,"text":34693},"66b385fa0c980",[],"Hunting PLC\nDennis Proctor, Chief Executive\nPeter Rose, Finance Director \nTel: +1 713 595 2950\nTel: +44 (0) 20 7321 0123",[],{"_key":34696,"_type":173,"children":34697,"markDefs":34702,"style":182},"9cbbfff20e63",[34698],{"_key":34699,"_type":177,"marks":34700,"text":34701},"d37edc47090f0",[],"Buchanan Communications\nRichard Darby\nJeremy Garcia \nTel: +44 (0) 20 7466 5000",[],{"_key":34704,"_type":173,"children":34705,"markDefs":34710,"style":182},"88bbe9c0f1a9",[34706],{"_key":34707,"_type":177,"marks":34708,"text":34709},"dfa56ca68b980",[],"Simmons & Company International acted as financial advisor and Locke Lord Bissell & Liddell acted as legal advisor to Hunting in this transaction.",[],{"_key":34712,"_type":173,"children":34713,"markDefs":34718,"style":182},"5e33b89ccf1a",[34714],{"_key":34715,"_type":177,"marks":34716,"text":34717},"388289f4cb420",[],"(1) This statement regarding earnings enhancement does not constitute a profit forecast nor should it be interpreted to mean that earnings per share of Hunting for the current or future years will necessarily match or exceed the historical published earnings per share of Hunting.",[],{"_key":34720,"_type":173,"children":34721,"markDefs":34726,"style":14843},"b4c5a3813bdf",[34722],{"_key":34723,"_type":177,"marks":34724,"text":34725},"684e4db674d60",[],"Notes to editors about Hunting PLC",[],{"_key":34728,"_type":173,"children":34729,"markDefs":34733,"style":182},"3203599d2ed1",[34730],{"_key":34731,"_type":177,"marks":34732,"text":34558},"fc7db0ab8a6a0",[],[],[34735],{"_key":34736,"_ref":1713,"_type":141},"f5fe031ceca6","Hunting PLC (LSE: HTG), the international energy services group today announces the acquisition of Innova-Extel","2010-08-16T09:00:00.000Z",{"_type":9,"current":34740},"16-08-2010",[34742,34744],{"_key":34743,"_ref":7180,"_type":141},"988904aca0fa",{"_key":34745,"_ref":15791,"_type":141},"7ed9b9aeb1e8","Acquisition of Innova-Extel","\u002Fnews\u002F16-08-2010",{"_createdAt":34749,"_id":34750,"_rev":10453,"_type":168,"_updatedAt":116,"body":34751,"categories":34900,"introText":34903,"publishedAt":34904,"slug":34905,"tags":34907,"title":1434,"url":34912},"2023-02-21T10:02:41Z","adeccb67-624a-404e-93a9-86b052520519",[34752,34760,34767,34774,34782,34790,34797,34805,34812,34820,34827,34835,34842,34850,34858,34865,34872,34879,34886,34893],{"_key":34753,"_type":173,"children":34754,"markDefs":34759,"style":182},"9f5beeb90042",[34755],{"_key":34756,"_type":177,"marks":34757,"text":34758},"7039d40cb2db0",[],"For Immediate Release 30 June 2010",[],{"_key":34761,"_type":173,"children":34762,"markDefs":34766,"style":182},"599bfbd38c31",[34763],{"_key":34764,"_type":177,"marks":34765,"text":34583},"68bb7209671d0",[],[],{"_key":34768,"_type":173,"children":34769,"markDefs":34773,"style":14843},"edc2af4eed7a",[34770],{"_key":34771,"_type":177,"marks":34772,"text":1434},"8e1d95a9afe3",[],[],{"_key":34775,"_type":173,"children":34776,"markDefs":34781,"style":182},"d5c86b4e2fd7",[34777],{"_key":34778,"_type":177,"marks":34779,"text":34780},"1acb556d12e10",[],"Hunting PLC (LSE:HTG) the international energy services group today provides an update on trading ahead of its Half Year Results to be announced on Thursday 26 August 2010.",[],{"_key":34783,"_type":173,"children":34784,"markDefs":34789,"style":182},"2016324d9908",[34785],{"_key":34786,"_type":177,"marks":34787,"text":34788},"4eeb93f792710",[],"Dennis Proctor, Hunting's Chief Executive said: \"Despite current events in the Gulf of Mexico (GOM) and sluggish natural gas prices, overall trading in the first half of 2010 has been very positive. With the exception of Canada, all global markets experienced much improvement over the second half of 2009 with Well Construction, Well Completion and Well Intervention reporting improved results and a strong backlog. Hunting's E&P Division experienced one dry hole resulting in a £2.9m exceptional charge. Gibson Shipbrokers saw tanker and dry cargo rates improve to levels 24% better than 2009 averages.",[],{"_key":34791,"_type":173,"children":34792,"markDefs":34796,"style":182},"3b5189abb4c3",[34793],{"_key":34794,"_type":177,"marks":34795,"text":29147},"d54550fd5f210",[179],[],{"_key":34798,"_type":173,"children":34799,"markDefs":34804,"style":182},"6de06667d257",[34800],{"_key":34801,"_type":177,"marks":34802,"text":34803},"b3f9c706d75b0",[],"Drilling tools, primarily mud motors, benefited from increased onshore oil related activity and shale gas development. Most drilling tools used in the GOM can be diverted to onshore work which may impact pricing strength. Despite the GOM deep water moratorium, this platform has benefited from the improved trading environment.",[],{"_key":34806,"_type":173,"children":34807,"markDefs":34811,"style":182},"cd2fae1bd69b",[34808],{"_key":34809,"_type":177,"marks":34810,"text":29187},"fd478c8dcc350",[179],[],{"_key":34813,"_type":173,"children":34814,"markDefs":34819,"style":182},"1f11b503c83c",[34815],{"_key":34816,"_type":177,"marks":34817,"text":34818},"0c06af28d9440",[],"Well Completion has traded strongly although some exposure to deep water GOM will have an impact during the rest of the year. Approximately 22% of the current premium connection backlog within this Division is for deep water GOM and in the first half of the year approximately 16% of production in its manufacturing facilities related to deep water GOM. The financial impact on this division of the drilling moratorium for the remainder of 2010 and beyond remains uncertain. Southeast Asia and the North Sea showed continued strength during the period as did the Middle East operations.",[],{"_key":34821,"_type":173,"children":34822,"markDefs":34826,"style":182},"8aebc592fd69",[34823],{"_key":34824,"_type":177,"marks":34825,"text":14866},"a7252a416d780",[179],[],{"_key":34828,"_type":173,"children":34829,"markDefs":34834,"style":182},"b5010f9b9603",[34830],{"_key":34831,"_type":177,"marks":34832,"text":34833},"f69fcf902d230",[],"With prior acquisitions and improved oil prices in the first half of 2010, this Division outperformed the second half of last year and has built a significant backlog, the majority of which is for international activity in Angola, Brazil, Australia and the Middle East. In the year to date the GOM has not had a material impact on results for this division.",[],{"_key":34836,"_type":173,"children":34837,"markDefs":34841,"style":182},"73baa081b77b",[34838],{"_key":34839,"_type":177,"marks":34840,"text":31071},"a1c6d9b2448f0",[179],[],{"_key":34843,"_type":173,"children":34844,"markDefs":34849,"style":182},"b5f71b13145c",[34845],{"_key":34846,"_type":177,"marks":34847,"text":34848},"17a5eb31e1860",[],"The current U.S. rig count is up 70% year over year. Much of the equipment provided for the 30 rigs currently idled in the GOM was purchased 12-24 months ago. The full financial impact regarding the moratorium may not be known for several months and is dependent on the U.S. Government's actions.",[],{"_key":34851,"_type":173,"children":34852,"markDefs":34857,"style":182},"70a5cfb951c9",[34853],{"_key":34854,"_type":177,"marks":34855,"text":34856},"b572ace0536f0",[],"Our facilities outside North America are benefiting from strong oil prices, improved drilling activity, new facilities and a good performance year-to-date. Our balance sheet remains strong with a net cash position of approximately £310m at 30 June 2010 and we continue to seek value enhancing acquisitions. The current circumstances in the GOM will inevitably have some effect on the second half of the year within the Well Completion division, but we remain confident in the outlook for the overall group in the current year. The circumstances in the GOM have not altered the global demand fundamentals for oil and gas. 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The award is for services to the Arts and to Heritage, in which he has been involved for over 30 years.",[],{"_key":34949,"_type":173,"children":34950,"markDefs":34954,"style":182},"14f002619af5",[34951],{"_key":34952,"_type":177,"marks":34953,"text":1126},"c0b2ed0e021b0",[179],[],{"_key":34956,"_type":173,"children":34957,"markDefs":34961,"style":182},"454faf22c4ee",[34958],{"_key":34959,"_type":177,"marks":34960,"text":31109},"5ada1e5567ed0",[],[],{"_key":34963,"_type":173,"children":34964,"markDefs":34968,"style":14843},"4fb188ad48f5",[34965],{"_key":34966,"_type":177,"marks":34967,"text":34725},"87798e2250440",[],[],{"_key":34970,"_type":173,"children":34971,"markDefs":34975,"style":182},"bbdff7a024e9",[34972],{"_key":34973,"_type":177,"marks":34974,"text":34558},"d1971b5b5eb10",[],[],[34977],{"_key":34978,"_ref":1713,"_type":141},"c0b20ff45d96","Richard Hunting appointed a Commander of the Order of the British Empire","2010-06-14T09:03:00.000Z",{"_type":9,"current":34982},"14-06-2010",[34984],{"_key":34985,"_ref":7180,"_type":141},"ece146431260","Richard Hunting awarded CBE","\u002Fnews\u002F14-06-2010",{"_createdAt":34989,"_id":34990,"_rev":13912,"_type":168,"_updatedAt":116,"body":34991,"categories":35072,"introText":35075,"publishedAt":35076,"slug":35077,"tags":35079,"title":8127,"url":35084},"2023-02-21T10:05:24Z","e01f9deb-744a-456e-b89d-ae9bc7a5f148",[34992,35000,35007,35014,35022,35030,35037,35044,35051,35058,35065],{"_key":34993,"_type":173,"children":34994,"markDefs":34999,"style":182},"62dcbde08434",[34995],{"_key":34996,"_type":177,"marks":34997,"text":34998},"32021d975df80",[],"For Immediate Release 8 June 2010",[],{"_key":35001,"_type":173,"children":35002,"markDefs":35006,"style":182},"9adfad339677",[35003],{"_key":35004,"_type":177,"marks":35005,"text":34583},"6d4e266a789d0",[],[],{"_key":35008,"_type":173,"children":35009,"markDefs":35013,"style":14843},"c71381dfeadd",[35010],{"_key":35011,"_type":177,"marks":35012,"text":8127},"f2ddcce76fb7",[],[],{"_key":35015,"_type":173,"children":35016,"markDefs":35021,"style":182},"1cf4c020c0a4",[35017],{"_key":35018,"_type":177,"marks":35019,"text":35020},"f685fed88f3f0",[],"Hunting PLC (LSE: HTG) the international energy services provider announces that Iain Paterson, Non-Executive Director, has today retired from the Company and stepped down from the Board after 10 years of service. Iain's role as Senior Independent Director will be assumed by John Hofmeister, currently a Non-Executive Director. Commenting on Mr Paterson's retirement, Richard Hunting, Chairman of the Company said: \"We would like to thank Iain for his valuable contribution over the past decade as Hunting has grown to become a leader in the energy services sector.\"",[],{"_key":35023,"_type":173,"children":35024,"markDefs":35029,"style":182},"77eb02f518f1",[35025],{"_key":35026,"_type":177,"marks":35027,"text":35028},"e2936efcb4f40",[],"There are no other details that require to be disclosed in respect of these directorate changes pursuant to Rule 9.6.13 of the Listing Rules.",[],{"_key":35031,"_type":173,"children":35032,"markDefs":35036,"style":182},"3fad74efcf93",[35033],{"_key":35034,"_type":177,"marks":35035,"text":1126},"e2247b72ff080",[179],[],{"_key":35038,"_type":173,"children":35039,"markDefs":35043,"style":182},"5c5487e85ad8",[35040],{"_key":35041,"_type":177,"marks":35042,"text":27846},"1081b45842ed0",[],[],{"_key":35045,"_type":173,"children":35046,"markDefs":35050,"style":182},"adece3ad25e5",[35047],{"_key":35048,"_type":177,"marks":35049,"text":34701},"e652a0cc32d40",[],[],{"_key":35052,"_type":173,"children":35053,"markDefs":35057,"style":14843},"1c032819ff4c",[35054],{"_key":35055,"_type":177,"marks":35056,"text":34725},"50bf8ecc7efb0",[],[],{"_key":35059,"_type":173,"children":35060,"markDefs":35064,"style":182},"5b36c9d9b375",[35061],{"_key":35062,"_type":177,"marks":35063,"text":34558},"5c33647f0e4d0",[],[],{"_key":35066,"_type":173,"children":35067,"markDefs":35071,"style":182},"52aca8a12f62",[35068],{"_key":35069,"_type":177,"marks":35070,"text":1430},"f9ca3d8577ca0",[],[],[35073],{"_key":35074,"_ref":1713,"_type":141},"fed99b5d3cc2","Hunting PLC announces the retirement of Iain Paterson","2010-06-08T09:04:00.000Z",{"_type":9,"current":35078},"08-06-2010",[35080,35082],{"_key":35081,"_ref":7180,"_type":141},"916876eb2df3",{"_key":35083,"_ref":16463,"_type":141},"35fb497d4c9e","\u002Fnews\u002F08-06-2010",{"_createdAt":35086,"_id":35087,"_rev":8787,"_type":168,"_updatedAt":116,"body":35088,"categories":35304,"introText":35307,"publishedAt":35308,"slug":35309,"tags":35311,"title":35316,"url":35317},"2023-02-21T10:09:42Z","a6396980-35f4-4aed-96be-e2eb71b15f89",[35089,35097,35105,35113,35121,35129,35137,35145,35153,35161,35169,35177,35185,35192,35200,35209,35217,35225,35233,35241,35248,35252,35259,35267,35274,35281,35289,35296],{"_key":35090,"_type":173,"children":35091,"markDefs":35096,"style":182},"cb1b7a5c69cd",[35092],{"_key":35093,"_type":177,"marks":35094,"text":35095},"766e5ddf2d8e0",[],"For Immediate Release 25 April 2010",[],{"_key":35098,"_type":173,"children":35099,"markDefs":35104,"style":182},"042fc245ef73",[35100],{"_key":35101,"_type":177,"marks":35102,"text":35103},"8bf34b9014820",[],"Hunting PLC (\"Hunting\" or \"the Company\" or \"the Group\")\nFull Year Results",[],{"_key":35106,"_type":173,"children":35107,"markDefs":35112,"style":182},"336d14264d0a",[35108],{"_key":35109,"_type":177,"marks":35110,"text":35111},"1c4900fae0bf0",[],"Hunting PLC (LSE:HTG), the international energy services company today announces its full year results for the year ended 31 December 2009.",[],{"_key":35114,"_type":173,"children":35115,"markDefs":35120,"style":14843},"3f8eb0ec71a4",[35116],{"_key":35117,"_type":177,"marks":35118,"text":35119},"9892bad5fe3c0",[],"Financial Highlights - 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28 facilities (2009 - 22)",[],{"_key":35234,"_type":173,"children":35235,"level":955,"listItem":2555,"markDefs":35240,"style":182},"b29584585e6e",[35236],{"_key":35237,"_type":177,"marks":35238,"text":35239},"4dea4236f8b10",[],"Disposal of Hunting Energy France for a consideration of £11.1m",[],{"_key":35242,"_type":173,"children":35243,"markDefs":35247,"style":182},"a7721cc5d744",[35244],{"_key":35245,"_type":177,"marks":35246,"text":34118},"d78b962e643c0",[179],[],{"_key":35249,"_type":146,"asset":35250},"7611838466b3",{"_ref":35251,"_type":141},"image-e3fc544c7bb186bb95eb9822865f70d0fd232744-950x785-jpg",{"_key":35253,"_type":173,"children":35254,"markDefs":35258,"style":182},"81229cd4c0c5",[35255],{"_key":35256,"_type":177,"marks":35257,"text":32969},"5c18ddbf40d60",[179],[],{"_key":35260,"_type":173,"children":35261,"markDefs":35266,"style":13454},"c760dfe0c1cc",[35262],{"_key":35263,"_type":177,"marks":35264,"text":35265},"3bab369262190",[],"\"Against the backdrop of the severe economic environment and challenging market conditions in the oil and gas industry, Hunting has delivered a robust performance during 2009. The Group continues to show good growth in its Asia Pacific markets, an area where further expansion is planned in 2010, as our other core markets recover in line with global demand for our products and services. We have also employed our cash to execute three acquisitions during the year, which consolidates our offering in a number of key regions. We look to the coming year with confidence.\"",[],{"_key":35268,"_type":173,"children":35269,"markDefs":35273,"style":182},"cdf531dc16ca",[35270],{"_key":35271,"_type":177,"marks":35272,"text":1126},"71de4ef6d1320",[179],[],{"_key":35275,"_type":173,"children":35276,"markDefs":35280,"style":182},"33ba86c99797",[35277],{"_key":35278,"_type":177,"marks":35279,"text":30891},"0981813972840",[],[],{"_key":35282,"_type":173,"children":35283,"markDefs":35288,"style":182},"708d3377efbf",[35284],{"_key":35285,"_type":177,"marks":35286,"text":35287},"e2f8988a924f0",[],"Buchanan Communications\nBen Willey\nRichard Darby Tel: 020 7466 5000",[],{"_key":35290,"_type":173,"children":35291,"markDefs":35295,"style":14843},"c84ece31da89",[35292],{"_key":35293,"_type":177,"marks":35294,"text":34725},"4100ac708af10",[],[],{"_key":35297,"_type":173,"children":35298,"markDefs":35303,"style":182},"bd56d6d3e83f",[35299],{"_key":35300,"_type":177,"marks":35301,"text":35302},"5a21c8f164f6",[],"Hunting PLC is an international energy services provider to the world's leading upstream oil and gas companies. Established in 1874, it is a fully listed public company traded on the London Stock Exchange. The Company maintains a corporate office in Houston and is headquartered in London. As well as the United Kingdom, the Company has principal operations in Canada, China, Holland, Hong Kong, Indonesia, Mexico, Singapore, United Arab Emirates and the United States of America.\n",[],[35305],{"_key":35306,"_ref":1713,"_type":141},"c5f210bacabc","Hunting PLC today announces its full year results for the year ended 31 December 2009","2010-05-25T09:07:00.000Z",{"_type":9,"current":35310},"25-03-2010",[35312,35314],{"_key":35313,"_ref":7180,"_type":141},"43a8162e029a",{"_key":35315,"_ref":15507,"_type":141},"6b1561f4ceac","2009 Full Year Results","\u002Fnews\u002F25-03-2010",{"_createdAt":35319,"_id":35320,"_rev":12752,"_type":168,"_updatedAt":116,"body":35321,"categories":35404,"introText":35407,"publishedAt":35408,"slug":35409,"tags":35411,"title":35343,"url":35417},"2023-02-21T10:06:55Z","e66348e2-026a-4772-86fe-a74264d6e39b",[35322,35330,35337,35345,35353,35361,35369,35376,35383,35390,35397],{"_key":35323,"_type":173,"children":35324,"markDefs":35329,"style":182},"a4bfeb4be2ae",[35325],{"_key":35326,"_type":177,"marks":35327,"text":35328},"b9201a387c520",[],"For Immediate Release 21 April 2010",[],{"_key":35331,"_type":173,"children":35332,"markDefs":35336,"style":182},"6707b72de366",[35333],{"_key":35334,"_type":177,"marks":35335,"text":34583},"e51b905d7c5a0",[],[],{"_key":35338,"_type":173,"children":35339,"markDefs":35344,"style":14843},"0ec13b63d334",[35340],{"_key":35341,"_type":177,"marks":35342,"text":35343},"be0a1e51f57a",[],"AGM and Interim Management Statement",[],{"_key":35346,"_type":173,"children":35347,"markDefs":35352,"style":182},"28463c7b7534",[35348],{"_key":35349,"_type":177,"marks":35350,"text":35351},"8e25b2f50f340",[],"Hunting PLC, the international energy services company, will be holding its Annual General Meeting at 10.30am today and is publishing its Interim Management Statement for the period from 1 January 2010 to 21 April 2010. Richard Hunting, Chairman, will be making the following statement to shareholders:",[],{"_key":35354,"_type":173,"children":35355,"markDefs":35360,"style":13454},"b19e3967dbfe",[35356],{"_key":35357,"_type":177,"marks":35358,"text":35359},"1985846bb0100",[],"\"With a rising oil price in the first quarter, combined with significant improvement in shale gas activity throughout North America, the Company experienced a rapid start to the new year. Activity in Southeast Asia remains strong as well. Europe is currently slow, however forecasts are for continued improvement throughout the year. Capital expenditures in 2009 are producing results and a sense of optimism prevails within the service industry with the re-hiring of staff and for some companies, the reopening of manufacturing facilities.\nWell Construction: We continue to expand our US drilling tool operations with the addition of new mud motors and a new facility in Pennsylvania added during the period, primarily focused on the Marcellus shale play.\nWell Completion: Activity towards more oil drilling has provided encouraging results and should continue as commodity prices increase or remain at current levels.\nWell Intervention: New orders have been taken for the chemical injection system and we have an improved order book for wireline and slickline tools for enhanced production of existing oil wells.",[],{"_key":35362,"_type":173,"children":35363,"markDefs":35368,"style":13454},"888c8335ff1d",[35364],{"_key":35365,"_type":177,"marks":35366,"text":35367},"2edff31d2bf80",[],"There has been no significant change in the financial position of the Group since the publication of the results for the year ended 31 December 2009. Overall, trading remains in line with the Board's expectations. The Company remains well capitalised and is well placed to take advantage of acquisition opportunities, which continue to be assessed.\"",[],{"_key":35370,"_type":173,"children":35371,"markDefs":35375,"style":182},"0c9cdfbe1002",[35372],{"_key":35373,"_type":177,"marks":35374,"text":1126},"f4be29f0117c0",[179],[],{"_key":35377,"_type":173,"children":35378,"markDefs":35382,"style":182},"d9e77e904ab2",[35379],{"_key":35380,"_type":177,"marks":35381,"text":34693},"53584a9facc00",[],[],{"_key":35384,"_type":173,"children":35385,"markDefs":35389,"style":182},"bc9c9b157950",[35386],{"_key":35387,"_type":177,"marks":35388,"text":34701},"747f72487b970",[],[],{"_key":35391,"_type":173,"children":35392,"markDefs":35396,"style":14843},"a8069b678512",[35393],{"_key":35394,"_type":177,"marks":35395,"text":34725},"e2ac33d72e9a0",[],[],{"_key":35398,"_type":173,"children":35399,"markDefs":35403,"style":182},"a6c6d7be0b9e",[35400],{"_key":35401,"_type":177,"marks":35402,"text":34558},"55c5761dfc6c0",[],[],[35405],{"_key":35406,"_ref":1713,"_type":141},"e5463057262c","The Company experienced a rapid start to the new year","2010-04-21T09:05:00.000Z",{"_type":9,"current":35410},"21-04-2010",[35412,35414],{"_key":35413,"_ref":7180,"_type":141},"a90a63fbb79a",{"_key":35415,"_ref":35416,"_type":141},"bd5882167e81","3966a915-c035-4bd8-8a8b-eb01b21eee7c","\u002Fnews\u002F21-04-2010",{"_createdAt":35419,"_id":35420,"_rev":16709,"_type":168,"_updatedAt":116,"body":35421,"categories":35548,"introText":35551,"publishedAt":35552,"slug":35553,"tags":35555,"title":35444,"url":35558},"2023-02-21T10:11:08Z","67790355-8e58-4b96-b543-6c5af61a67c2",[35422,35430,35438,35446,35454,35462,35470,35478,35486,35493,35501,35509,35517,35524,35532,35540],{"_key":35423,"_type":173,"children":35424,"markDefs":35429,"style":182},"4a5c3980d502",[35425],{"_key":35426,"_type":177,"marks":35427,"text":35428},"de7d892b152c0",[],"For Immediate Release 22 December 2009",[],{"_key":35431,"_type":173,"children":35432,"markDefs":35437,"style":182},"dce58dbe33ef",[35433],{"_key":35434,"_type":177,"marks":35435,"text":35436},"80ce4569226c0",[],"Hunting PLC (\"Hunting\" or \"the Company\")",[],{"_key":35439,"_type":173,"children":35440,"markDefs":35445,"style":14843},"7b58d5d5bcfa",[35441],{"_key":35442,"_type":177,"marks":35443,"text":35444},"626ffd2b14a9",[],"Disposal of Hunting Energy France",[],{"_key":35447,"_type":173,"children":35448,"markDefs":35453,"style":182},"5ce009fc8e8e",[35449],{"_key":35450,"_type":177,"marks":35451,"text":35452},"0416745426220",[],"Hunting PLC (LSE:HTG), the international energy services company today announces the disposal of its Hunting Energy France operations (\"HEF\") to FINERGY, a new company established by a group of French investors, including two directors of HEF, to acquire the business. The total consideration is £11.0m, of which £8.8m will be paid on completion with the balance of £2.2m to be deferred and paid in the form of bonds earning interest at an annual rate of 8%. The bonds are redeemable on 31 December 2017 however may be repaid earlier at the discretion of FINERGY.",[],{"_key":35455,"_type":173,"children":35456,"markDefs":35461,"style":182},"9031b5ce2f64",[35457],{"_key":35458,"_type":177,"marks":35459,"text":35460},"ac910a25c2ca0",[],"The book value of the gross assets and net assets of HEF as at 30 June 2009 were approximately £22.4m and £16.2m respectively. HEF declared and paid a £5.6m dividend to Hunting on 31 July 2009 which together with trading results in the year to date reduces net assets to approximately £11.0m at the end of November 2009. For the year ended 31 December 2008, the business generated a profit before taxation of £2.5m.",[],{"_key":35463,"_type":173,"children":35464,"markDefs":35469,"style":182},"0f54116019bd",[35465],{"_key":35466,"_type":177,"marks":35467,"text":35468},"a38caee8cc910",[],"After the release of historic foreign exchange translation gains to the income statement, Hunting expects to recognise a gain of approximately £3.0m on the disposal of HEF.",[],{"_key":35471,"_type":173,"children":35472,"markDefs":35477,"style":182},"c9b32c6c9a2b",[35473],{"_key":35474,"_type":177,"marks":35475,"text":35476},"c1963d1d71750",[],"Commenting on the disposal, Dennis Proctor Chief Executive Officer of Hunting said:",[],{"_key":35479,"_type":173,"children":35480,"markDefs":35485,"style":13454},"60ed9d160ecd",[35481],{"_key":35482,"_type":177,"marks":35483,"text":35484},"a9345b6671c30",[],"\"The disposal of Hunting Energy France has been anticipated for some time. This transaction represents a further step by Hunting to focus the group on its core upstream energy services activities, where we intend reinvesting the proceeds.\"",[],{"_key":35487,"_type":173,"children":35488,"markDefs":35492,"style":182},"adfde5fc1161",[35489],{"_key":35490,"_type":177,"marks":35491,"text":1126},"ee7c8841eb4a0",[179],[],{"_key":35494,"_type":173,"children":35495,"markDefs":35500,"style":182},"30c6cf6c2740",[35496],{"_key":35497,"_type":177,"marks":35498,"text":35499},"d582ed7fbbc30",[],"Hunting PLC\nDennis Proctor, Chief Executive\nPeter Rose, Finance Director\nTel: 020 7321 0123",[],{"_key":35502,"_type":173,"children":35503,"markDefs":35508,"style":182},"61bebe3c0037",[35504],{"_key":35505,"_type":177,"marks":35506,"text":35507},"d0a8ef525bb40",[],"Buchanan Communications\nBen Willey\nRichard Darby\nTel: 020 7466 5000",[],{"_key":35510,"_type":173,"children":35511,"markDefs":35516,"style":14843},"77b0cc3c31c7",[35512],{"_key":35513,"_type":177,"marks":35514,"text":35515},"c83826be2d840",[],"Notes to editors",[],{"_key":35518,"_type":173,"children":35519,"markDefs":35523,"style":182},"0b3249d11487",[35520],{"_key":35521,"_type":177,"marks":35522,"text":12234},"16e6f321602f0",[],[],{"_key":35525,"_type":173,"children":35526,"markDefs":35531,"style":182},"bd755d2ab2a0",[35527],{"_key":35528,"_type":177,"marks":35529,"text":35530},"ad90f85f0a6e0",[],"Hunting PLC is an international energy services provider to the world's leading upstream oil and gas companies. Established in 1874, it is a fully listed public company traded on the London Stock Exchange. The Company maintains a corporate office in Houston and is headquartered in London. As well as the United Kingdom, the Company has principal operations in Canada, China, France, Holland, Hong Kong, Indonesia, Mexico, Singapore, United Arab Emirates and the United States of America.",[],{"_key":35533,"_type":173,"children":35534,"markDefs":35539,"style":182},"0f57a75fbdbf",[35535],{"_key":35536,"_type":177,"marks":35537,"text":35538},"dbbdd4dee9080",[],"About Hunting Energy France",[],{"_key":35541,"_type":173,"children":35542,"markDefs":35547,"style":182},"1e3ae03183be",[35543],{"_key":35544,"_type":177,"marks":35545,"text":35546},"57be469873af0",[],"Hunting Energy France comprises four French based businesses (Interpec, Larco, Setmat and Roforge) providing petrochemical equipment and services. Interpec supplies products for a range of applications in pipelines, terminals, refineries and power plants. Larco is a manufacturer of products for liquid storage tanks and automated systems for oil and liquid petroleum gas depot management. Setmat provides oil terminal management services and Roforge manufactures and supplies high specification forged valves for the energy and associated industries.",[],[35549],{"_key":35550,"_ref":1713,"_type":141},"45f9a56cb174","Hunting PLC today announces the disposal of its Hunting Energy France operations","2009-12-22T10:10:00.000Z",{"_type":9,"current":35554},"22-12-2009",[35556],{"_key":35557,"_ref":7180,"_type":141},"db36513f288a","\u002Fnews\u002F22-12-2009",{"_createdAt":35560,"_id":35561,"_rev":16709,"_type":168,"_updatedAt":116,"body":35562,"categories":35683,"introText":35686,"publishedAt":35687,"slug":35688,"tags":35690,"title":1434,"url":35695},"2023-02-21T10:12:22Z","65a61120-7f46-42bc-9bc1-1adc7010e11e",[35563,35571,35578,35585,35593,35601,35609,35617,35625,35633,35641,35648,35655,35662,35669,35676],{"_key":35564,"_type":173,"children":35565,"markDefs":35570,"style":182},"bcf288a19735",[35566],{"_key":35567,"_type":177,"marks":35568,"text":35569},"5056130de44f0",[],"For Immediate Release 21 December 2009",[],{"_key":35572,"_type":173,"children":35573,"markDefs":35577,"style":182},"1a2f01e71da6",[35574],{"_key":35575,"_type":177,"marks":35576,"text":35436},"4f45911ce0120",[],[],{"_key":35579,"_type":173,"children":35580,"markDefs":35584,"style":14843},"6f3d3572aa0e",[35581],{"_key":35582,"_type":177,"marks":35583,"text":1434},"955f9448287a",[],[],{"_key":35586,"_type":173,"children":35587,"markDefs":35592,"style":182},"78ca8d06baf4",[35588],{"_key":35589,"_type":177,"marks":35590,"text":35591},"ef7692bad3120",[179],"Hunting PLC (LSE:HTG) today issues a trading update in advance of entering its close period.",[],{"_key":35594,"_type":173,"children":35595,"markDefs":35600,"style":182},"2bfd604dc71e",[35596],{"_key":35597,"_type":177,"marks":35598,"text":35599},"7f013b29dfd90",[179],"Dennis Proctor, Hunting's Chief Executive, said:",[],{"_key":35602,"_type":173,"children":35603,"markDefs":35608,"style":13454},"b5737455b9c8",[35604],{"_key":35605,"_type":177,"marks":35606,"text":35607},"84578ff543cd0",[],"\"The Company anticipates a trading performance for 2009 toward the high end of market expectations despite recessionary global markets, volatile commodity prices and depressed drilling activity, primarily in natural gas. Trading in the Middle East and South East Asia has remained steady with contracts in these regions continuing into 2010. Elsewhere, in Canada and the United States, drilling and exploration for natural gas remains depressed relative to prior year activity, with smaller operators continuing to experience difficulty in obtaining adequate credit to commence new projects.",[],{"_key":35610,"_type":173,"children":35611,"markDefs":35616,"style":13454},"6d900bb824a3",[35612],{"_key":35613,"_type":177,"marks":35614,"text":35615},"912b8e9d7cf40",[],"The Well Construction and Completion Divisions are both expected to experience a lower performance compared to last year, while the newly created Well Intervention Division will see an improvement as a result of acquisitions made during the year. Exploration and Production, due to commodity prices and production, will report results well below the prior year and Gibson Shipbrokers, with low pricing in global shipping markets are also expected to report results well down on the prior year. Field Aviation is having an excellent year and should report results well ahead of those in 2008.",[],{"_key":35618,"_type":173,"children":35619,"markDefs":35624,"style":13454},"5a7ac9c93267",[35620],{"_key":35621,"_type":177,"marks":35622,"text":35623},"e596675c45d80",[],"In addition to the acquisitions of PT SMB Industri in Indonesia and National Coupling Company in Houston announced earlier in the year, the acquisition of Welltonic completed on 10 December 2009, will further strengthen the Group's Well Intervention operations. We continue to review potential acquisitions and hope to make further announcements when appropriate.",[],{"_key":35626,"_type":173,"children":35627,"markDefs":35632,"style":13454},"87cc56b7e761",[35628],{"_key":35629,"_type":177,"marks":35630,"text":35631},"8dee054ab92e0",[],"Early sector forecasts anticipate an approximate 6% increase in exploration and production activities during 2010. Much of this improvement is due to oil demand growth in China, India and other South East Asian countries, while the rest of the world may see only modest, if any, growth. However, the acquisitions made in the second half of 2009 combined with completed capital projects should position the Company to take advantage of growth opportunities in 2010.\"",[],{"_key":35634,"_type":173,"children":35635,"markDefs":35640,"style":182},"ab0593056252",[35636],{"_key":35637,"_type":177,"marks":35638,"text":35639},"e533be94d1ef0",[],"The full year results for 2009 will be reported on Thursday 25 February 2010.",[],{"_key":35642,"_type":173,"children":35643,"markDefs":35647,"style":182},"e6cefbde8796",[35644],{"_key":35645,"_type":177,"marks":35646,"text":1126},"4423317cbb060",[],[],{"_key":35649,"_type":173,"children":35650,"markDefs":35654,"style":182},"ac9c81a250a1",[35651],{"_key":35652,"_type":177,"marks":35653,"text":30891},"a10961aa410e0",[],[],{"_key":35656,"_type":173,"children":35657,"markDefs":35661,"style":182},"105fdfdf2bef",[35658],{"_key":35659,"_type":177,"marks":35660,"text":35287},"2480d95258df0",[],[],{"_key":35663,"_type":173,"children":35664,"markDefs":35668,"style":14843},"992a3266e292",[35665],{"_key":35666,"_type":177,"marks":35667,"text":35515},"503232d6dc1d0",[],[],{"_key":35670,"_type":173,"children":35671,"markDefs":35675,"style":182},"221c8d15a055",[35672],{"_key":35673,"_type":177,"marks":35674,"text":35538},"6ffc035d13910",[],[],{"_key":35677,"_type":173,"children":35678,"markDefs":35682,"style":182},"f922c68269bf",[35679],{"_key":35680,"_type":177,"marks":35681,"text":35530},"eb8f95ce05270",[],[],[35684],{"_key":35685,"_ref":1713,"_type":141},"2c052ba026ae","The Company anticipates a trading performance for 2009 toward the high end of market expectations","2009-12-21T10:11:00.000Z",{"_type":9,"current":35689},"21-12-2009",[35691,35693],{"_key":35692,"_ref":7180,"_type":141},"21651f58d644",{"_key":35694,"_ref":10968,"_type":141},"43efae52a7e3","\u002Fnews\u002F21-12-2009",{"_createdAt":35697,"_id":35698,"_rev":14811,"_type":168,"_updatedAt":116,"body":35699,"categories":35804,"introText":35806,"publishedAt":35807,"slug":35808,"tags":35810,"title":35813,"url":35814},"2023-02-21T10:12:27Z","6aeb050d-5b87-4e1c-bb66-4f9324ad7596",[35700,35708,35715,35722,35730,35738,35746,35754,35762,35769,35776,35783,35790,35797],{"_key":35701,"_type":173,"children":35702,"markDefs":35707,"style":182},"636ddef5a53d",[35703],{"_key":35704,"_type":177,"marks":35705,"text":35706},"c167a6b5d2360",[],"For Immediate Release 10 December 2009",[],{"_key":35709,"_type":173,"children":35710,"markDefs":35714,"style":182},"19a64bcb057c",[35711],{"_key":35712,"_type":177,"marks":35713,"text":35436},"3bf9c63c6e3c0",[],[],{"_key":35716,"_type":173,"children":35717,"markDefs":35721,"style":14843},"b0be680c9dff",[35718],{"_key":35719,"_type":177,"marks":35720,"text":32154},"c432673c2f93",[],[],{"_key":35723,"_type":173,"children":35724,"markDefs":35729,"style":182},"012285cda259",[35725],{"_key":35726,"_type":177,"marks":35727,"text":35728},"ba23db8fcd400",[],"Hunting acquires the Welltonic Group of Companies for £9m",[],{"_key":35731,"_type":173,"children":35732,"markDefs":35737,"style":182},"96d7134bc9c3",[35733],{"_key":35734,"_type":177,"marks":35735,"text":35736},"ca0e213f8c640",[],"Hunting PLC (LSE:HTG), the international energy services company today announces the acquisition of the Welltonic Group of Companies (\"Welltonic\"), a provider of well intervention services.",[],{"_key":35739,"_type":173,"children":35740,"markDefs":35745,"style":182},"ea1ee64be8b0",[35741],{"_key":35742,"_type":177,"marks":35743,"text":35744},"776ade9549d30",[],"The consideration will comprise an upfront cash consideration of £7.0m payable on completion, followed by a deferred consideration of £2.0m payable on the achievement of certain performance conditions measured over an 18 month period.\nWelltonic employs around 45 personnel globally and provides well intervention services through a range of downhole tools with operations in the UK, Middle East and Asia. An in house engineering and design group allows for the further growth and development of Welltonic's product offering through established facilities in Aberdeen, Dubai and Singapore. This acquisition complements Hunting's existing well intervention wireline operations and strengthens the Company's global geographical presence in this important growth market.\nWelltonic was founded in 2001 and is privately owned by four UK businessmen, two of whom will remain with the business.\nFor the year ended 30 September 2009, Welltonic's profit before taxation was £1.2m with EBITDA of £2.0m.\nWelltonic's net assets and gross assets as at 30 September 2009 were £4.0m and £6.1m respectively.",[],{"_key":35747,"_type":173,"children":35748,"markDefs":35753,"style":182},"ccc637178dcd",[35749],{"_key":35750,"_type":177,"marks":35751,"text":35752},"e344d1c8732a0",[],"Commenting on the acquisition, Dennis Proctor, Chief Executive Officer of Hunting said:",[],{"_key":35755,"_type":173,"children":35756,"markDefs":35761,"style":13454},"3570f89e080f",[35757],{"_key":35758,"_type":177,"marks":35759,"text":35760},"041a0c7b76c4",[],"\"This acquisition is another bolt-on transaction which strengthens our international presence while providing increased exposure to the high margin well intervention market. Welltonic complements our existing activities in what management and wider market commentators believe to be a high growth sector.\"",[],{"_key":35763,"_type":173,"children":35764,"markDefs":35768,"style":182},"4461dc7f9f67",[35765],{"_key":35766,"_type":177,"marks":35767,"text":1126},"8f898dbd30700",[179],[],{"_key":35770,"_type":173,"children":35771,"markDefs":35775,"style":182},"63b434a96df7",[35772],{"_key":35773,"_type":177,"marks":35774,"text":30891},"a0e72599e2d90",[],[],{"_key":35777,"_type":173,"children":35778,"markDefs":35782,"style":182},"2d31eb991e7d",[35779],{"_key":35780,"_type":177,"marks":35781,"text":35287},"2b25dea06c710",[],[],{"_key":35784,"_type":173,"children":35785,"markDefs":35789,"style":14843},"36c4d3875d8a",[35786],{"_key":35787,"_type":177,"marks":35788,"text":35515},"ac6d15b447c50",[],[],{"_key":35791,"_type":173,"children":35792,"markDefs":35796,"style":182},"4a9244d86733",[35793],{"_key":35794,"_type":177,"marks":35795,"text":12234},"944a38a0e3380",[],[],{"_key":35798,"_type":173,"children":35799,"markDefs":35803,"style":182},"25226e67d898",[35800],{"_key":35801,"_type":177,"marks":35802,"text":35530},"0355f3110d4f0",[],[],[35805],{"_key":35685,"_ref":1713,"_type":141},"Hunting acquires the Welltonic Group","2009-12-10T10:11:00.000Z",{"_type":9,"current":35809},"10-12-2009",[35811,35812],{"_key":35692,"_ref":7180,"_type":141},{"_key":35694,"_ref":15791,"_type":141},"Acquisition of Welltonic","\u002Fnews\u002F10-12-2009",{"_createdAt":35816,"_id":35817,"_rev":16709,"_type":168,"_updatedAt":116,"body":35818,"categories":35945,"introText":35947,"publishedAt":35948,"slug":35949,"tags":35951,"title":35954,"url":35955},"2023-02-21T10:13:45Z","3ecbf4eb-c03a-45b4-86a1-afe765b017e8",[35819,35827,35834,35842,35850,35858,35866,35874,35882,35890,35898,35906,35914,35929,35937],{"_key":35820,"_type":173,"children":35821,"markDefs":35826,"style":182},"d8f48286b88f",[35822],{"_key":35823,"_type":177,"marks":35824,"text":35825},"3cc626b643910",[],"For Immediate Release 8 October 2009",[],{"_key":35828,"_type":173,"children":35829,"markDefs":35833,"style":182},"8a9b51a899ad",[35830],{"_key":35831,"_type":177,"marks":35832,"text":34583},"205eba7726000",[],[],{"_key":35835,"_type":173,"children":35836,"markDefs":35841,"style":14843},"777fea3cd57c",[35837],{"_key":35838,"_type":177,"marks":35839,"text":35840},"05bf3bbf1b59",[],"Trading update and Interim Management Statement",[],{"_key":35843,"_type":173,"children":35844,"markDefs":35849,"style":182},"3f367b0f33d7",[35845],{"_key":35846,"_type":177,"marks":35847,"text":35848},"d1d4da1af77b0",[],"Hunting PLC (LSE: HTG), the international energy services company, today announces its Interim Management Statement for the period 1 July 2009 to 8 October 2009, as required by the UK Listing Authority's Disclosure and Transparency Rules.",[],{"_key":35851,"_type":173,"children":35852,"markDefs":35857,"style":182},"7946a05dd0f3",[35853],{"_key":35854,"_type":177,"marks":35855,"text":35856},"8ebc4a0af7b70",[179],"Trading update",[],{"_key":35859,"_type":173,"children":35860,"markDefs":35865,"style":182},"cc1ff7b6e2be",[35861],{"_key":35862,"_type":177,"marks":35863,"text":35864},"8eb6c6283bfe0",[],"Hunting Energy Services began the period with lower levels of activity. However, as the period progressed, order books have improved.",[],{"_key":35867,"_type":173,"children":35868,"markDefs":35873,"style":182},"37c6e1015489",[35869],{"_key":35870,"_type":177,"marks":35871,"text":35872},"82aa28fd858e0",[],"Within Well Completion, our Asian facilities continue to have the strongest results within the Group with the expectation that those facilities will continue to perform well during the remainder of the year. North Sea facilities are performing above expectations, but the final quarter of the year may see some weaknesses due to customer delays.",[],{"_key":35875,"_type":173,"children":35876,"markDefs":35881,"style":182},"0024151ac407",[35877],{"_key":35878,"_type":177,"marks":35879,"text":35880},"010e27ed995d0",[],"In Well Construction, the US and Canadian gas markets remain challenging, impacting results for mud motors, tubulars and trenchless drilling.",[],{"_key":35883,"_type":173,"children":35884,"markDefs":35889,"style":182},"20fc5dd99465",[35885],{"_key":35886,"_type":177,"marks":35887,"text":35888},"cb5730182aa30",[],"The Exploration and Production division and Gibson Shipbrokers are also affected by lower commodity prices and shipping rates.",[],{"_key":35891,"_type":173,"children":35892,"markDefs":35897,"style":182},"704e7184b78e",[35893],{"_key":35894,"_type":177,"marks":35895,"text":35896},"781e1ce7e6770",[],"Management is pleased with the performance of Well Intervention including the first three months of earnings from the recently acquired National Coupling Company.",[],{"_key":35899,"_type":173,"children":35900,"markDefs":35905,"style":182},"0b40a3003e12",[35901],{"_key":35902,"_type":177,"marks":35903,"text":35904},"fa982eef2b3d0",[],"There has been no significant change in the financial position of the Group since the publication of the results for the six months ended 30 June 2009.",[],{"_key":35907,"_type":173,"children":35908,"markDefs":35913,"style":182},"c3f8581285d0",[35909],{"_key":35910,"_type":177,"marks":35911,"text":35912},"09f395198ba80",[],"Overall trading remains in line with the Board's expectations. We continue to seek and review opportunities for expansion within existing facilities, geographies and to build on current platforms through acquisition. As the global economies recover, our assets are uniquely positioned and combined with a strong balance sheet should maximise future earnings.",[],{"_key":35915,"_type":173,"children":35916,"markDefs":35927,"style":182},"4f9086100b70",[35917,35920,35924],{"_key":35918,"_type":177,"marks":35919,"text":30617},"11a7810766110",[179],{"_key":35921,"_type":177,"marks":35922,"text":29947},"11a7810766111",[35923,179],"630fdcfa6b92",{"_key":35925,"_type":177,"marks":35926,"text":30625},"11a7810766112",[179],[35928],{"_key":35923,"_type":138,"href":29947},{"_key":35930,"_type":173,"children":35931,"markDefs":35936,"style":182},"0bbf2507fb11",[35932],{"_key":35933,"_type":177,"marks":35934,"text":35935},"a0d8496339430",[],"Hunting PLC\nDennis Proctor, Chief Executive\nPeter Rose, Finance Director \nTel: +1 713 595 2950\nTel: 020 7321 0123",[],{"_key":35938,"_type":173,"children":35939,"markDefs":35944,"style":182},"d511f3e5fbff",[35940],{"_key":35941,"_type":177,"marks":35942,"text":35943},"5097609fbb910",[],"Buchanan Communications\nBen Willey\nRichard Darby \nTel: 020 7466 5000",[],[35946],{"_key":35685,"_ref":1713,"_type":141},"Hunting PLC, today announces its Interim Management Statement for the period 1 July 2009 to 8 October 2009","2009-10-08T09:11:00.000Z",{"_type":9,"current":35950},"08-10-2009",[35952,35953],{"_key":35692,"_ref":7180,"_type":141},{"_key":35694,"_ref":10968,"_type":141},"Update on trading and IMS","\u002Fnews\u002F08-10-2009",{"_createdAt":35957,"_id":35958,"_rev":16359,"_type":168,"_updatedAt":116,"body":35959,"categories":36205,"introText":36207,"publishedAt":36208,"slug":36209,"tags":36211,"title":33062,"url":36214},"2023-02-21T10:15:17Z","9378e867-e877-44e4-b9d3-115e4d194b30",[35960,35968,35975,35982,35990,35997,36005,36013,36021,36029,36037,36045,36053,36060,36068,36076,36083,36091,36099,36107,36115,36123,36131,36139,36147,36155,36163,36170,36177,36184,36191,36198],{"_key":35961,"_type":173,"children":35962,"markDefs":35967,"style":182},"e696146f2262",[35963],{"_key":35964,"_type":177,"marks":35965,"text":35966},"74a8d0e26add0",[],"For Immediate Release 27 August 2009",[],{"_key":35969,"_type":173,"children":35970,"markDefs":35974,"style":182},"845b6759ccf2",[35971],{"_key":35972,"_type":177,"marks":35973,"text":35436},"109ec271d49c0",[],[],{"_key":35976,"_type":173,"children":35977,"markDefs":35981,"style":14843},"bbb80657e08a",[35978],{"_key":35979,"_type":177,"marks":35980,"text":20065},"b51d8c4bec20",[],[],{"_key":35983,"_type":173,"children":35984,"markDefs":35989,"style":182},"7b7f1e7f64f0",[35985],{"_key":35986,"_type":177,"marks":35987,"text":35988},"432782c659a90",[],"Hunting PLC (LSE:HTG), the international energy services company today announces its Half Year Results for the six months ended 30 June 2009.",[],{"_key":35991,"_type":173,"children":35992,"markDefs":35996,"style":14843},"fa5aa8e7d262",[35993],{"_key":35994,"_type":177,"marks":35995,"text":28109},"09f5adeb3c230",[],[],{"_key":35998,"_type":173,"children":35999,"level":955,"listItem":2555,"markDefs":36004,"style":182},"6fae0fa2b558",[36000],{"_key":36001,"_type":177,"marks":36002,"text":36003},"46e9094a00de0",[],"Revenue from continuing operations increased to £219.8m (2008: £201.2m) +9%",[],{"_key":36006,"_type":173,"children":36007,"level":955,"listItem":2555,"markDefs":36012,"style":182},"483f50680822",[36008],{"_key":36009,"_type":177,"marks":36010,"text":36011},"7967126a5ea1",[],"Profit from continuing operations decreased to £23.0m (2008: £24.0m)-4%",[],{"_key":36014,"_type":173,"children":36015,"level":955,"listItem":2555,"markDefs":36020,"style":182},"aed414835e8e",[36016],{"_key":36017,"_type":177,"marks":36018,"text":36019},"385e9b60c438",[],"Profit before tax from continuing operations increased to £26.5m (2008: £21.4m)+24%",[],{"_key":36022,"_type":173,"children":36023,"level":955,"listItem":2555,"markDefs":36028,"style":182},"77bb9d934a31",[36024],{"_key":36025,"_type":177,"marks":36026,"text":36027},"00f03bacc2bf",[],"Basic earnings per share from continuing operations 12.3p (2008: 9.7p)+27%",[],{"_key":36030,"_type":173,"children":36031,"level":955,"listItem":2555,"markDefs":36036,"style":182},"7bbad23e961d",[36032],{"_key":36033,"_type":177,"marks":36034,"text":36035},"b19548e31922",[],"Interim dividend of 3.5p (2008: 2.9p)+21%",[],{"_key":36038,"_type":173,"children":36039,"level":955,"listItem":2555,"markDefs":36044,"style":182},"fa445e6ef1ef",[36040],{"_key":36041,"_type":177,"marks":36042,"text":36043},"89b3d1dba88e",[],"Net cash inflow from operating activities £36.2m (2008: £15.4m) Net cash of £387.6m",[],{"_key":36046,"_type":173,"children":36047,"markDefs":36052,"style":182},"21092c4648af",[36048],{"_key":36049,"_type":177,"marks":36050,"text":36051},"d4c55e7cc8790",[],"* all figures stated before exceptional items and for continuing operations only",[],{"_key":36054,"_type":173,"children":36055,"markDefs":36059,"style":14843},"1ad76f626abe",[36056],{"_key":36057,"_type":177,"marks":36058,"text":9293},"cf3ea0c823ff0",[],[],{"_key":36061,"_type":173,"children":36062,"level":955,"listItem":2555,"markDefs":36067,"style":182},"be92256e1ce3",[36063],{"_key":36064,"_type":177,"marks":36065,"text":36066},"7f063c8bc63a0",[],"Two acquisitions completed:\n1. National Coupling Company for a consideration of US$53.8m in June 2009\n2. PT SMB Industri for a consideration of US$10.7m in July 2009",[],{"_key":36069,"_type":173,"children":36070,"level":955,"listItem":2555,"markDefs":36075,"style":182},"6bc23bdd6eef",[36071],{"_key":36072,"_type":177,"marks":36073,"text":36074},"2549295389e70",[],"Appointment of John Nicholas and John Hofmeister as non-executive directors.",[],{"_key":36077,"_type":173,"children":36078,"markDefs":36082,"style":14843},"5404d9925d75",[36079],{"_key":36080,"_type":177,"marks":36081,"text":21538},"4c5127f02b100",[],[],{"_key":36084,"_type":173,"children":36085,"level":955,"listItem":2555,"markDefs":36090,"style":182},"69181a423305",[36086],{"_key":36087,"_type":177,"marks":36088,"text":36089},"74b7f42e0f6c0",[],"Revenue in Well Construction decreased by 1% to £48.9m (2008: £49.5m)\nProfit from operations of £3.5m (2008: £5.8m)",[],{"_key":36092,"_type":173,"children":36093,"level":955,"listItem":2555,"markDefs":36098,"style":182},"5eb2ed3a721a",[36094],{"_key":36095,"_type":177,"marks":36096,"text":36097},"171022866d4d0",[],"Revenue in Well Completion increased by 17% to £105.2m (2008: £89.6m)\nProfit from operations of £12.9m (2008: £11.8m)",[],{"_key":36100,"_type":173,"children":36101,"level":955,"listItem":2555,"markDefs":36106,"style":182},"8f1801e32be7",[36102],{"_key":36103,"_type":177,"marks":36104,"text":36105},"6c6ee7633da90",[],"Revenue in Well Intervention increased by 10% to £12.3m (2008: £11.2m)\nProfit from operations of £1.8m (2008: £1.9m)",[],{"_key":36108,"_type":173,"children":36109,"level":955,"listItem":2555,"markDefs":36114,"style":182},"a8785c1cdd19",[36110],{"_key":36111,"_type":177,"marks":36112,"text":36113},"f68ad05e4c850",[],"Exploration and Production breakeven in the period (2008: profit £3.0m)",[],{"_key":36116,"_type":173,"children":36117,"level":955,"listItem":2555,"markDefs":36122,"style":182},"d0aaaa828e31",[36118],{"_key":36119,"_type":177,"marks":36120,"text":36121},"c4c030819d480",[],"Hunting Energy France profit from operations increased to £0.9m (2008: £0.8m)",[],{"_key":36124,"_type":173,"children":36125,"level":955,"listItem":2555,"markDefs":36130,"style":182},"63a877e57c49",[36126],{"_key":36127,"_type":177,"marks":36128,"text":36129},"df133f00d3560",[],"Gibson Shipbrokers profit from operations of £0.3m (2008: £1.6m)",[],{"_key":36132,"_type":173,"children":36133,"level":955,"listItem":2555,"markDefs":36138,"style":182},"7065386db4f0",[36134],{"_key":36135,"_type":177,"marks":36136,"text":36137},"9b8dd253dcc80",[],"Field Aviation profit from operations of £3.6m (2008: loss £0.9m)",[],{"_key":36140,"_type":173,"children":36141,"markDefs":36146,"style":182},"9c5f03f9fbac",[36142],{"_key":36143,"_type":177,"marks":36144,"text":36145},"71bf580ba1cf0",[179],"Commenting on the results, Dennis Proctor Chief Executive of Hunting PLC said:",[],{"_key":36148,"_type":173,"children":36149,"markDefs":36154,"style":13454},"647c88beeb4b",[36150],{"_key":36151,"_type":177,"marks":36152,"text":36153},"c21053d37ab50",[],"\"Despite the continuing uncertainty in the economic environment, Hunting remains well positioned for the inevitable global recovery, with a diversified product offering and geographic revenue mix. We have successfully executed two acquisitions which are already contributing to our results.",[],{"_key":36156,"_type":173,"children":36157,"markDefs":36162,"style":13454},"eb212a708d83",[36158],{"_key":36159,"_type":177,"marks":36160,"text":36161},"db40acc4105d0",[],"\"With an extremely robust balance sheet we continue to evaluate further acquisition opportunities, whilst also focusing on costs and production efficiencies. These combined efforts provide us with a confident long term outlook, which is reflected in our significantly increased interim dividend.\"",[],{"_key":36164,"_type":173,"children":36165,"markDefs":36169,"style":182},"7e38815d7f37",[36166],{"_key":36167,"_type":177,"marks":36168,"text":1126},"49e46ce2f50a0",[179],[],{"_key":36171,"_type":173,"children":36172,"markDefs":36176,"style":182},"92bdd4e97fbe",[36173],{"_key":36174,"_type":177,"marks":36175,"text":30891},"4e9fc8bc02220",[],[],{"_key":36178,"_type":173,"children":36179,"markDefs":36183,"style":182},"b08a47bc074b",[36180],{"_key":36181,"_type":177,"marks":36182,"text":35287},"d9d501e29a980",[],[],{"_key":36185,"_type":173,"children":36186,"markDefs":36190,"style":14843},"efda137c6e74",[36187],{"_key":36188,"_type":177,"marks":36189,"text":35515},"9d6a6df17c810",[],[],{"_key":36192,"_type":173,"children":36193,"markDefs":36197,"style":182},"d79bc37cdf26",[36194],{"_key":36195,"_type":177,"marks":36196,"text":12234},"b84ee8e190710",[],[],{"_key":36199,"_type":173,"children":36200,"markDefs":36204,"style":182},"6b076797dbc9",[36201],{"_key":36202,"_type":177,"marks":36203,"text":35530},"f43861c12fc00",[],[],[36206],{"_key":35685,"_ref":1713,"_type":141},"Despite the continuing uncertainty in the economic environment, Hunting remains well positioned for the inevitable global recovery","2009-08-27T09:11:00.000Z",{"_type":9,"current":36210},"27-08-2009a",[36212,36213],{"_key":35692,"_ref":7180,"_type":141},{"_key":35694,"_ref":15507,"_type":141},"\u002Fnews\u002F27-08-2009a",{"_createdAt":36216,"_id":36217,"_rev":12752,"_type":168,"_updatedAt":116,"body":36218,"categories":36339,"introText":36247,"publishedAt":36208,"slug":36341,"tags":36343,"title":36346,"url":36347},"2023-02-21T10:17:23Z","e5d83b68-95ed-48f3-bd7b-cce172099879",[36219,36226,36233,36241,36249,36257,36265,36273,36281,36289,36297,36304,36311,36318,36325,36332],{"_key":36220,"_type":173,"children":36221,"markDefs":36225,"style":182},"15e78ba478d7",[36222],{"_key":36223,"_type":177,"marks":36224,"text":35966},"986f3055a2180",[],[],{"_key":36227,"_type":173,"children":36228,"markDefs":36232,"style":182},"87f453ff674f",[36229],{"_key":36230,"_type":177,"marks":36231,"text":35436},"ecd451818a220",[],[],{"_key":36234,"_type":173,"children":36235,"markDefs":36240,"style":14843},"c45c121a299b",[36236],{"_key":36237,"_type":177,"marks":36238,"text":36239},"1087987eab0e",[],"Appointment of Non Executive Directors",[],{"_key":36242,"_type":173,"children":36243,"markDefs":36248,"style":182},"5f9d2c50e443",[36244],{"_key":36245,"_type":177,"marks":36246,"text":36247},"133b41fe51d50",[],"Hunting appoints John Nicholas and John Hofmeister as new Non Executive Directors",[],{"_key":36250,"_type":173,"children":36251,"markDefs":36256,"style":182},"ed2887d71cf9",[36252],{"_key":36253,"_type":177,"marks":36254,"text":36255},"ec7ee80465f00",[],"Hunting PLC the international energy services company is pleased to announce the appointment on Wednesday 26 August, 2009 of John Nicholas and John Hofmeister as Non Executive Directors.",[],{"_key":36258,"_type":173,"children":36259,"markDefs":36264,"style":182},"b248172acd6f",[36260],{"_key":36261,"_type":177,"marks":36262,"text":36263},"5031061b49970",[],"John Nicholas, aged 53, is a British citizen and Fellow of the Association of Chartered Certified Accountants. He is currently a non executive director of Ceres Power Holdings plc and Rotork PLC and a member of the Financial Reporting Review Panel. He was formerly the Group Finance Director at Tate & Lyle plc and prior to that Group Finance Director at Kidde plc.",[],{"_key":36266,"_type":173,"children":36267,"markDefs":36272,"style":182},"f2fd53d2a418",[36268],{"_key":36269,"_type":177,"marks":36270,"text":36271},"325d39d2a77b0",[],"John Hofmeister, aged 61, is a US citizen resident in Houston, Texas. He is the founder and chief executive officer of the Washington D.C. registered not-for-profit Citizens for Affordable Energy, Inc. He is the former President of Shell Oil Company US and a former Group Director of Royal Dutch Shell PLC in The Hague, Netherlands.",[],{"_key":36274,"_type":173,"children":36275,"markDefs":36280,"style":182},"4dc9e8563db8",[36276],{"_key":36277,"_type":177,"marks":36278,"text":36279},"b3277a6059c30",[],"Both Directors will join the Audit, Remuneration and Nomination Committees with immediate effect.",[],{"_key":36282,"_type":173,"children":36283,"markDefs":36288,"style":182},"90f9eeb073e5",[36284],{"_key":36285,"_type":177,"marks":36286,"text":36287},"551e0208eaf80",[],"Hector McFadyen who has been an Independent Non Executive Director since 2002 will retire from the board on 3 September 2009. The Board thank Hector for his valuable contribution and wish him well for the future.",[],{"_key":36290,"_type":173,"children":36291,"markDefs":36296,"style":182},"ec86a345cb9d",[36292],{"_key":36293,"_type":177,"marks":36294,"text":36295},"9d3d2d2be9a60",[],"There are no other details that require to be disclosed in respect of those directorate changes pursuant to Rule 9.6.13 of the Listing Rules.",[],{"_key":36298,"_type":173,"children":36299,"markDefs":36303,"style":182},"9798934f1679",[36300],{"_key":36301,"_type":177,"marks":36302,"text":1126},"586da8ba02c20",[],[],{"_key":36305,"_type":173,"children":36306,"markDefs":36310,"style":182},"56d31b25bc72",[36307],{"_key":36308,"_type":177,"marks":36309,"text":30891},"b45ab75e1ce00",[],[],{"_key":36312,"_type":173,"children":36313,"markDefs":36317,"style":182},"ea464fb4bc2e",[36314],{"_key":36315,"_type":177,"marks":36316,"text":35287},"ca37f75f80890",[],[],{"_key":36319,"_type":173,"children":36320,"markDefs":36324,"style":14843},"3790724e0f4b",[36321],{"_key":36322,"_type":177,"marks":36323,"text":35515},"4c71bb0be6210",[],[],{"_key":36326,"_type":173,"children":36327,"markDefs":36331,"style":182},"b60e7ea08546",[36328],{"_key":36329,"_type":177,"marks":36330,"text":12234},"8276622bab2a0",[],[],{"_key":36333,"_type":173,"children":36334,"markDefs":36338,"style":182},"980c4b86eb32",[36335],{"_key":36336,"_type":177,"marks":36337,"text":35530},"652991eaa16f0",[],[],[36340],{"_key":35685,"_ref":1713,"_type":141},{"_type":9,"current":36342},"27-08-2009",[36344,36345],{"_key":35692,"_ref":7180,"_type":141},{"_key":35694,"_ref":16463,"_type":141},"Appointment of new Non Executive Directors","\u002Fnews\u002F27-08-2009",{"_createdAt":36349,"_id":36350,"_rev":16709,"_type":168,"_updatedAt":116,"body":36351,"categories":36465,"introText":36467,"publishedAt":36468,"slug":36469,"tags":36471,"title":36474,"url":36475},"2023-02-21T10:19:26Z","da1cf0d6-0279-4f29-93a0-ee9f8a4d45b7",[36352,36360,36367,36374,36382,36389,36397,36405,36413,36421,36428,36436,36444,36451,36458],{"_key":36353,"_type":173,"children":36354,"markDefs":36359,"style":182},"257b7c699f65",[36355],{"_key":36356,"_type":177,"marks":36357,"text":36358},"b7211ef8736a0",[],"For Immediate Release 1 July 2009",[],{"_key":36361,"_type":173,"children":36362,"markDefs":36366,"style":182},"21f9fbb211f5",[36363],{"_key":36364,"_type":177,"marks":36365,"text":35436},"ea596e2f64f70",[],[],{"_key":36368,"_type":173,"children":36369,"markDefs":36373,"style":14843},"cfd3e0f1006f",[36370],{"_key":36371,"_type":177,"marks":36372,"text":1434},"9b381457642c",[],[],{"_key":36375,"_type":173,"children":36376,"markDefs":36381,"style":182},"0eb6bf16cc05",[36377],{"_key":36378,"_type":177,"marks":36379,"text":36380},"7a69050491e50",[],"Hunting PLC (LSE:HTG) the international energy services company today provides an update on trading ahead of its Half Year Results to be announced on the Thursday 27 August 2009.",[],{"_key":36383,"_type":173,"children":36384,"markDefs":36388,"style":182},"23bbe32b9268",[36385],{"_key":36386,"_type":177,"marks":36387,"text":35599},"b3b17cd0e0380",[179],[],{"_key":36390,"_type":173,"children":36391,"markDefs":36396,"style":13454},"147e85b0ee25",[36392],{"_key":36393,"_type":177,"marks":36394,"text":36395},"0cb2cefa2ef60",[],"\"Given global financial developments combined with the significant decline in commodity prices, overall trading in the first half of 2009 has been satisfactory. Trading in the Middle East and Southeast Asia is good with earnings from contracts in these regions expected to improve further throughout 2009. Conversely, the rapid decline of drilling activity in North America to 57% of the high level in August 2008 has impacted certain operations in the region. The primary impact of this decline on Well Construction has been felt in HDD trenchless drilling products and the mud motor product line. In Well Completion, premium tubing sales began to decline in the later part of the second quarter. Within these divisions, normal steps of cost containment, including a 16% reduction in staff numbers, have been initiated and will partly mitigate the financial impact. Despite the doubling of the oil price in the last few months providing encouraging signs for the remainder of the year, natural gas is the primary driver of North American rig activity and most likely will remain flat.\"",[],{"_key":36398,"_type":173,"children":36399,"markDefs":36404,"style":13454},"877453da98bd",[36400],{"_key":36401,"_type":177,"marks":36402,"text":36403},"ff02abe1a8fb0",[],"\"Two acquisitions were announced in the period, PT SMB in Indonesia and National Coupling Company in Houston, Texas. Others remain under review and we hope to make further announcements in the second half of the year. New capital projects for plant enhancement and expansion have been approved and initiated.\"",[],{"_key":36406,"_type":173,"children":36407,"markDefs":36412,"style":13454},"f7b8caa0a9fb",[36408],{"_key":36409,"_type":177,"marks":36410,"text":36411},"9674f552ffab0",[],"\"Our liquidity remains strong with a net cash position of approximately £380m at 30 June 2009 anticipated.\"",[],{"_key":36414,"_type":173,"children":36415,"markDefs":36420,"style":13454},"bbda8ca8393a",[36416],{"_key":36417,"_type":177,"marks":36418,"text":36419},"4193cc09c32f0",[],"\"Should current market conditions and commodity prices prevail, trading throughout the remainder of the year will be challenging, however we remain confident that the long term fundamentals are solid and that any recovery in global economies will improve demand for oil and natural gas. With further acquisitions and completed capital projects, the Company will be in a strong position to capitalise on the recovery and return to the excellent earnings previously experienced.\"",[],{"_key":36422,"_type":173,"children":36423,"markDefs":36427,"style":182},"6d0810e59782",[36424],{"_key":36425,"_type":177,"marks":36426,"text":1126},"f305965caa620",[],[],{"_key":36429,"_type":173,"children":36430,"markDefs":36435,"style":182},"d1c777903e67",[36431],{"_key":36432,"_type":177,"marks":36433,"text":36434},"4b212d210ad10",[],"Hunting PLC\nDennis Proctor, Chief Executive\nPeter Rose, Finance Director \nTel 001 713 595 2950\nTel: 020 7321 0123",[],{"_key":36437,"_type":173,"children":36438,"markDefs":36443,"style":182},"e93ea634635a",[36439],{"_key":36440,"_type":177,"marks":36441,"text":36442},"9e68e5ae296b0",[],"Buchanan Communications\nBen Willey\nRichard Darby \n\nTel: 020 7466 5000",[],{"_key":36445,"_type":173,"children":36446,"markDefs":36450,"style":14843},"123ab04fad9f",[36447],{"_key":36448,"_type":177,"marks":36449,"text":35515},"6ff7efd5f5d20",[],[],{"_key":36452,"_type":173,"children":36453,"markDefs":36457,"style":182},"75bea2b57760",[36454],{"_key":36455,"_type":177,"marks":36456,"text":12234},"ef7bb70052ac0",[],[],{"_key":36459,"_type":173,"children":36460,"markDefs":36464,"style":182},"cae590b04b69",[36461],{"_key":36462,"_type":177,"marks":36463,"text":35530},"c304ef07940c0",[],[],[36466],{"_key":35685,"_ref":1713,"_type":141},"Hunting PLC today provides an update on trading ahead of its Half Year Results to be announced on the Thursday 27 August 2009","2009-07-01T09:11:00.000Z",{"_type":9,"current":36470},"01-07-2009",[36472,36473],{"_key":35692,"_ref":7180,"_type":141},{"_key":35694,"_ref":10968,"_type":141},"Update on trading","\u002Fnews\u002F01-07-2009",{"_createdAt":36477,"_id":36478,"_rev":29816,"_type":168,"_updatedAt":116,"body":36479,"categories":36577,"introText":36579,"publishedAt":36580,"slug":36581,"tags":36583,"title":36586,"url":36587},"2023-02-21T10:20:45Z","5938825d-f881-410b-b13e-8c5dca5581c3",[36480,36488,36495,36503,36511,36519,36527,36535,36542,36549,36556,36563,36570],{"_key":36481,"_type":173,"children":36482,"markDefs":36487,"style":182},"2efb396e1dd6",[36483],{"_key":36484,"_type":177,"marks":36485,"text":36486},"0817acbb038e0",[],"8 June 2009 For immediate release\nHunting PLC (\"Hunting\" or \"the Company\")",[],{"_key":36489,"_type":173,"children":36490,"markDefs":36494,"style":14843},"a4718d6b9c08",[36491],{"_key":36492,"_type":177,"marks":36493,"text":32154},"cbd0425bee34",[],[],{"_key":36496,"_type":173,"children":36497,"markDefs":36502,"style":182},"8db2c49ad18e",[36498],{"_key":36499,"_type":177,"marks":36500,"text":36501},"44e2a29a287d0",[],"Hunting acquires PT SMB Industri, a premium threading operation in Indonesia for US$10.5m",[],{"_key":36504,"_type":173,"children":36505,"markDefs":36510,"style":182},"763bb9fa8b05",[36506],{"_key":36507,"_type":177,"marks":36508,"text":36509},"20de5b3e4c960",[],"Hunting PLC (LSE:HTG), the international energy services company today announces the acquisition of PT SMB Industri (\"PTSMB\"), a premium threading operation located in Batam, Indonesia for a cash consideration of US$10.5m.",[],{"_key":36512,"_type":173,"children":36513,"markDefs":36518,"style":182},"c7f3f9617425",[36514],{"_key":36515,"_type":177,"marks":36516,"text":36517},"e6cd9bfb37e50",[],"The consideration is payable on completion which is conditional upon the receipt of regulatory clearances from the Indonesian authorities. Clearance is expected to be obtained by the end of July 2009. PTSMB employs around 190 personnel and currently provides premium threading and machining services to Hunting's regional operations in Singapore. This acquisition will therefore strengthen Hunting's geographical presence in the market place with much needed capacity and increased reliability of supply.PTSMB was founded in 2007 and is privately owned by two Malaysian businessmen, one of whom will be retained in the business for a period of up to 12 months.PTSMB's 2008 profit before tax was US$1.9m with an EBITDA of US$2.4m. The net assets and gross assets as at 31 December 2008 were US$6.5m and US$6.7m respectively.",[],{"_key":36520,"_type":173,"children":36521,"markDefs":36526,"style":182},"9ffaf7080c1d",[36522],{"_key":36523,"_type":177,"marks":36524,"text":36525},"9bb799066fcf0",[179],"Commenting on the acquisition, Dennis Proctor Chief Executive Officer of Hunting said:",[],{"_key":36528,"_type":173,"children":36529,"markDefs":36534,"style":13454},"40d9b99dcc18",[36530],{"_key":36531,"_type":177,"marks":36532,"text":36533},"1793dd1ec11d0",[],"\"This acquisition secures essential manufacturing and threading capacity for our growing Asia Pacific regional activities. PTSMB are well known to Hunting and operate to our exacting standards of quality assurance\".",[],{"_key":36536,"_type":173,"children":36537,"markDefs":36541,"style":182},"6df4c3d0e36b",[36538],{"_key":36539,"_type":177,"marks":36540,"text":1126},"505064f0ff300",[179],[],{"_key":36543,"_type":173,"children":36544,"markDefs":36548,"style":182},"ef0cdd8ec9fb",[36545],{"_key":36546,"_type":177,"marks":36547,"text":30891},"3c2bc5e6343b0",[],[],{"_key":36550,"_type":173,"children":36551,"markDefs":36555,"style":182},"7e15cc65f2fe",[36552],{"_key":36553,"_type":177,"marks":36554,"text":35287},"27499b95f9750",[],[],{"_key":36557,"_type":173,"children":36558,"markDefs":36562,"style":14843},"1ae280cd06a3",[36559],{"_key":36560,"_type":177,"marks":36561,"text":35515},"2b7e6c51665d0",[],[],{"_key":36564,"_type":173,"children":36565,"markDefs":36569,"style":182},"20624860eeb7",[36566],{"_key":36567,"_type":177,"marks":36568,"text":12234},"a4be566229b80",[],[],{"_key":36571,"_type":173,"children":36572,"markDefs":36576,"style":182},"a72a20981e69",[36573],{"_key":36574,"_type":177,"marks":36575,"text":35530},"8ecde6374b7d0",[],[],[36578],{"_key":35685,"_ref":1713,"_type":141},"Hunting PLC announces the acquisition of PT SMB Industri, a premium threading operation located in Batam, Indonesia for a cash consideration of US$10.5m","2009-06-08T09:11:00.000Z",{"_type":9,"current":36582},"08-06-2009a",[36584,36585],{"_key":35692,"_ref":7180,"_type":141},{"_key":35694,"_ref":15791,"_type":141},"Acquisition of PT SMB Industri","\u002Fnews\u002F08-06-2009a",{"_createdAt":36589,"_id":36590,"_rev":12752,"_type":168,"_updatedAt":116,"body":36591,"categories":36691,"introText":36693,"publishedAt":36694,"slug":36695,"tags":36697,"title":36700,"url":36701},"2023-02-21T10:21:53Z","fb675b2a-80d8-4138-8101-816ac22ee1b3",[36592,36600,36608,36615,36623,36631,36639,36647,36655,36662,36669,36676,36681,36686],{"_key":36593,"_type":173,"children":36594,"markDefs":36599,"style":182},"ebd417dd259b",[36595],{"_key":36596,"_type":177,"marks":36597,"text":36598},"1f7f44bec9d00",[],"For Immediate Release 22 April 2009",[],{"_key":36601,"_type":173,"children":36602,"markDefs":36607,"style":182},"4b670d4e5c21",[36603],{"_key":36604,"_type":177,"marks":36605,"text":36606},"b52200c455e50",[],"Hunting PLC\n(\"Hunting\" or \"the Company\")",[],{"_key":36609,"_type":173,"children":36610,"markDefs":36614,"style":14843},"9814528abcc6",[36611],{"_key":36612,"_type":177,"marks":36613,"text":35343},"2cfd67f86f160",[],[],{"_key":36616,"_type":173,"children":36617,"markDefs":36622,"style":182},"f610f7973003",[36618],{"_key":36619,"_type":177,"marks":36620,"text":36621},"2c1f2acaca540",[],"Hunting PLC, the international energy services company, will be holding its AGM at 10.30am today and is publishing its Interim Management Statement for the period from 1 January 2009 to 22 April 2009. Richard Hunting, Chairman, will be making the following statement to shareholders.",[],{"_key":36624,"_type":173,"children":36625,"markDefs":36630,"style":13454},"fe64aaf031b2",[36626],{"_key":36627,"_type":177,"marks":36628,"text":36629},"f166343d58000",[],"\"For the period January through March 2009 the Company has traded in line with the Board's expectations. Hunting Energy has seen record throughput from its proprietary connections for South East Asia, Canada and accessory manufacturing divisions. Activity in the US has experienced a 40% decline in rig activity during the period or 49% since the peak of last summer resulting in a decline in our mud motor utilisation. While performance from our North Sea plants has been very good and should remain so through the first half, the balance of the year is less visible. Following a very slow start, our trenchless product line is experiencing a rebound in activity and inquiries. The new Monterrey, Mexico facility became operational in March 2009 with a healthy backlog for a full one-shift start up.",[],{"_key":36632,"_type":173,"children":36633,"markDefs":36638,"style":13454},"d9745787d867",[36634],{"_key":36635,"_type":177,"marks":36636,"text":36637},"3b024c38efbb0",[],"The Exploration and Production division has been impacted by lower oil and gas prices, while Gibson Shipbrokers has also seen lower results due to lower shipping rates.",[],{"_key":36640,"_type":173,"children":36641,"markDefs":36646,"style":13454},"427e290435ea",[36642],{"_key":36643,"_type":177,"marks":36644,"text":36645},"964652e272e00",[],"The rapid decline in North America, primarily gas drilling, combined with reduced margins will impact the Company in the months ahead, however the first half of the year remains positive with good visibility and robust trading in certain businesses. Our performance in the Middle East and South East Asia has offset the declines in North America. Recovery in the US will ultimately depend on a rebound in natural gas prices. With lower industrial demand due to the recession, coupled with high storage levels, a recovery in gas drilling appears unlikely in the short term.",[],{"_key":36648,"_type":173,"children":36649,"markDefs":36654,"style":13454},"1a6eac8d0a97",[36650],{"_key":36651,"_type":177,"marks":36652,"text":36653},"331a39ad5c490",[],"Under the terms of the sale of Gibson Energy, the consideration payable by the purchaser was subject to the preparation and agreement of completion accounts. These have now been prepared and agreed and result in a further cash consideration payable by the purchaser of £17.5m, which was received on Monday 20 April 2009.\"",[],{"_key":36656,"_type":173,"children":36657,"markDefs":36661,"style":182},"02a2aa1bda46",[36658],{"_key":36659,"_type":177,"marks":36660,"text":1126},"1a31fc90a41d0",[179],[],{"_key":36663,"_type":173,"children":36664,"markDefs":36668,"style":182},"277185506692",[36665],{"_key":36666,"_type":177,"marks":36667,"text":30891},"14ed40df22d10",[],[],{"_key":36670,"_type":173,"children":36671,"markDefs":36675,"style":182},"681ff9ca8bfa",[36672],{"_key":36673,"_type":177,"marks":36674,"text":35287},"fbf5f3f31dc30",[],[],{"_key":36557,"_type":173,"children":36677,"markDefs":36680,"style":14843},[36678],{"_key":36560,"_type":177,"marks":36679,"text":35515},[],[],{"_key":36564,"_type":173,"children":36682,"markDefs":36685,"style":182},[36683],{"_key":36567,"_type":177,"marks":36684,"text":12234},[],[],{"_key":36571,"_type":173,"children":36687,"markDefs":36690,"style":182},[36688],{"_key":36574,"_type":177,"marks":36689,"text":35530},[],[],[36692],{"_key":35685,"_ref":1713,"_type":141},"For the period January through March 2009 the Company has traded in line with the Board's expectations","2009-04-22T09:11:00.000Z",{"_type":9,"current":36696},"22-04-2009b",[36698,36699],{"_key":35692,"_ref":7180,"_type":141},{"_key":35694,"_ref":35416,"_type":141},"IMS and AGM Statement","\u002Fnews\u002F22-04-2009b",{"_createdAt":36703,"_id":36704,"_rev":12752,"_type":168,"_updatedAt":116,"body":36705,"categories":36929,"introText":36931,"publishedAt":36932,"slug":36933,"tags":36935,"title":36938,"url":36939},"2023-02-21T10:23:05Z","e8945e92-985f-49cd-a095-e5be37d0621a",[36706,36713,36720,36728,36736,36744,36752,36760,36768,36776,36783,36791,36799,36807,36815,36823,36831,36839,36847,36855,36863,36870,36878,36886,36893,36900,36907,36914,36921],{"_key":36707,"_type":173,"children":36708,"markDefs":36712,"style":182},"cea0312f96aa",[36709],{"_key":36710,"_type":177,"marks":36711,"text":36606},"324b86a47b600",[],[],{"_key":36714,"_type":173,"children":36715,"markDefs":36719,"style":182},"9569cfabffd6",[36716],{"_key":36717,"_type":177,"marks":36718,"text":19559},"88bcdc18f15f0",[],[],{"_key":36721,"_type":173,"children":36722,"markDefs":36727,"style":182},"ab5b7e43dbd3",[36723],{"_key":36724,"_type":177,"marks":36725,"text":36726},"ca1d0adc18a80",[],"Hunting PLC (LSE:HTG), the international energy services company today announces its Full Year Results for the year ended 31 December 2008.",[],{"_key":36729,"_type":173,"children":36730,"markDefs":36735,"style":14843},"19eac1adbdb4",[36731],{"_key":36732,"_type":177,"marks":36733,"text":36734},"c8f0adbc3dfc0",[],"Financial Highlights - all pre-exceptional items",[],{"_key":36737,"_type":173,"children":36738,"level":955,"listItem":2555,"markDefs":36743,"style":182},"1f1d6aa83727",[36739],{"_key":36740,"_type":177,"marks":36741,"text":36742},"b39bbac571640",[],"Revenue on continuing operations increased to £440.0m (2007: £398.7m)+10%",[],{"_key":36745,"_type":173,"children":36746,"level":955,"listItem":2555,"markDefs":36751,"style":182},"fd50bacae13b",[36747],{"_key":36748,"_type":177,"marks":36749,"text":36750},"7627a99295cb0",[],"Profit before taxation from continuing operations increased to £58.9m(2007: £47.3m) +25%",[],{"_key":36753,"_type":173,"children":36754,"level":955,"listItem":2555,"markDefs":36759,"style":182},"5e1bec448ef0",[36755],{"_key":36756,"_type":177,"marks":36757,"text":36758},"7f54094e28d80",[],"Earnings per share up to 27.5p (2007: 18.5p) +49%",[],{"_key":36761,"_type":173,"children":36762,"level":955,"listItem":2555,"markDefs":36767,"style":182},"9b3c77e1a4ad",[36763],{"_key":36764,"_type":177,"marks":36765,"text":36766},"2466ee8cc6df0",[],"Final dividend of 7.0p recommended - total for 2008: 9.9p (2007: 8.25p) +20%",[],{"_key":36769,"_type":173,"children":36770,"level":955,"listItem":2555,"markDefs":36775,"style":182},"992e4d035409",[36771],{"_key":36772,"_type":177,"marks":36773,"text":36774},"06a78bcd57210",[],"Net cash of £372.3m following the elimination of net borrowings",[],{"_key":36777,"_type":173,"children":36778,"markDefs":36782,"style":14843},"6fc731ca4dd0",[36779],{"_key":36780,"_type":177,"marks":36781,"text":9293},"bfa25c0489720",[],[],{"_key":36784,"_type":173,"children":36785,"level":955,"listItem":2555,"markDefs":36790,"style":182},"15b81a63e7fe",[36786],{"_key":36787,"_type":177,"marks":36788,"text":36789},"f8f35db41c810",[],"Disposal of Gibson Energy completed in December 2008 for total consideration of £517m",[],{"_key":36792,"_type":173,"children":36793,"level":955,"listItem":2555,"markDefs":36798,"style":182},"0e117f1ac6c0",[36794],{"_key":36795,"_type":177,"marks":36796,"text":36797},"f0cd936b3fa40",[],"Due diligence commenced on a number of acquisition opportunities",[],{"_key":36800,"_type":173,"children":36801,"markDefs":36806,"style":14843},"21751d85f808",[36802],{"_key":36803,"_type":177,"marks":36804,"text":36805},"a4d8266cf2660",[],"Operational Highlights - all pre-exceptional items",[],{"_key":36808,"_type":173,"children":36809,"level":955,"listItem":2555,"markDefs":36814,"style":182},"8723d84c9ec5",[36810],{"_key":36811,"_type":177,"marks":36812,"text":36813},"cea190b47e180",[],"Strong revenue growth in Well Construction of 54% at £112.0m (2007: £72.8m)",[],{"_key":36816,"_type":173,"children":36817,"level":955,"listItem":2555,"markDefs":36822,"style":182},"d155e21b494e",[36818],{"_key":36819,"_type":177,"marks":36820,"text":36821},"32fcbf90f9fb0",[],"Profit from operations of £13.4m (2007: £8.2m)",[],{"_key":36824,"_type":173,"children":36825,"level":955,"listItem":2555,"markDefs":36830,"style":182},"7aa14e2d8b45",[36826],{"_key":36827,"_type":177,"marks":36828,"text":36829},"3bfebdc89e9e0",[],"Revenue growth of 3% in Well Completion at £213.1m (2007: £207.5m)",[],{"_key":36832,"_type":173,"children":36833,"level":955,"listItem":2555,"markDefs":36838,"style":182},"5d8a156e13cf",[36834],{"_key":36835,"_type":177,"marks":36836,"text":36837},"2cab4038624d0",[],"Profit from operations of £31.4m (2007: £34.1m)",[],{"_key":36840,"_type":173,"children":36841,"level":955,"listItem":2555,"markDefs":36846,"style":182},"f8a131202d9c",[36842],{"_key":36843,"_type":177,"marks":36844,"text":36845},"9971d987a7a20",[],"Exploration and Production profits up 34% to £5.9m (2007: £4.4m) despite 10% decrease in production due to hurricanes",[],{"_key":36848,"_type":173,"children":36849,"level":955,"listItem":2555,"markDefs":36854,"style":182},"6af17b88e458",[36850],{"_key":36851,"_type":177,"marks":36852,"text":36853},"73f6b8a8cfc50",[],"Gibson Shipbrokers record year, record profit of £6.9m (2007: £2.9m)",[],{"_key":36856,"_type":173,"children":36857,"level":955,"listItem":2555,"markDefs":36862,"style":182},"ba2a1833f605",[36858],{"_key":36859,"_type":177,"marks":36860,"text":36861},"aa4a0b1edac70",[],"Hunting Energy France profit from operations of £2.0m (2007: £2.6m)",[],{"_key":36864,"_type":173,"children":36865,"markDefs":36869,"style":182},"20e6611ae771",[36866],{"_key":36867,"_type":177,"marks":36868,"text":32969},"1d052c4b9aa60",[179],[],{"_key":36871,"_type":173,"children":36872,"markDefs":36877,"style":13454},"4ba1075ac0f0",[36873],{"_key":36874,"_type":177,"marks":36875,"text":36876},"9e6c72b8fe850",[],"\"2008 was another year of good growth in our core Hunting Energy Services operations, which reflects our excellent product and services offering to the global energy industry. With the successful completion of the Gibson disposal, we will deploy this significant capital to acquiring complementary businesses, which will be earnings enhancing for our shareholders.\"",[],{"_key":36879,"_type":173,"children":36880,"markDefs":36885,"style":13454},"a03bb9c8887b",[36881],{"_key":36882,"_type":177,"marks":36883,"text":36884},"1beb483451bf0",[],"\"The global economic environment is now impacting the energy industry and although Hunting is exceptionally well placed to weather this turbulence our short term focus is on cash containment, investment in more efficient plants and introducing new products to customers.\"",[],{"_key":36887,"_type":173,"children":36888,"markDefs":36892,"style":182},"0f84c3468dc3",[36889],{"_key":36890,"_type":177,"marks":36891,"text":1126},"ecaba6a29a750",[179],[],{"_key":36894,"_type":173,"children":36895,"markDefs":36899,"style":182},"76383749507a",[36896],{"_key":36897,"_type":177,"marks":36898,"text":30891},"f1ddda29fcff0",[],[],{"_key":36901,"_type":173,"children":36902,"markDefs":36906,"style":182},"7fb955ab74be",[36903],{"_key":36904,"_type":177,"marks":36905,"text":35287},"e4f1ff9356a40",[],[],{"_key":36908,"_type":173,"children":36909,"markDefs":36913,"style":14843},"34fe9d8b51f0",[36910],{"_key":36911,"_type":177,"marks":36912,"text":10958},"acabf5d9391b0",[],[],{"_key":36915,"_type":173,"children":36916,"markDefs":36920,"style":182},"b29b657aa178",[36917],{"_key":36918,"_type":177,"marks":36919,"text":12234},"c40ae993329f0",[],[],{"_key":36922,"_type":173,"children":36923,"markDefs":36928,"style":182},"c7c2aabcf6a2",[36924],{"_key":36925,"_type":177,"marks":36926,"text":36927},"1a7aa6dba91d0",[],"Hunting PLC is an international energy services provider to the world's leading upstream oil and gas companies. Established in 1874, it is a fully listed public company traded on the London Stock Exchange. The Company maintains a corporate office in Houston and is headquartered in London. As well as the United Kingdom, the Company has principal operations in Canada, China, France, Holland, Hong Kong, Singapore, United Arab Emirates and the United States of America.",[],[36930],{"_key":35685,"_ref":1713,"_type":141},"Hunting PLC today announces its Full Year Results for the year ended 31 December 2008","2009-02-26T10:11:00.000Z",{"_type":9,"current":36934},"26-02-2009",[36936,36937],{"_key":35692,"_ref":7180,"_type":141},{"_key":35694,"_ref":15507,"_type":141},"2008 Finals statement","\u002Fnews\u002F26-02-2009",{"_createdAt":36941,"_id":36942,"_rev":11949,"_type":168,"_updatedAt":116,"body":36943,"categories":37073,"introText":37075,"publishedAt":37076,"slug":37077,"tags":37079,"title":37082,"url":37083},"2023-02-21T10:25:08Z","105c4aa7-2fea-46db-9268-f93385eb54b8",[36944,36951,36958,36966,36974,36982,36990,36998,37006,37014,37022,37027,37034,37042,37050,37058,37063,37068],{"_key":36945,"_type":173,"children":36946,"markDefs":36950,"style":182},"5e92d09a6406",[36947],{"_key":36948,"_type":177,"marks":36949,"text":1134},"90e30a6e27530",[],[],{"_key":36952,"_type":173,"children":36953,"markDefs":36957,"style":14843},"221f6563d43f",[36954],{"_key":36955,"_type":177,"marks":36956,"text":1434},"f358adda1856",[],[],{"_key":36959,"_type":173,"children":36960,"markDefs":36965,"style":182},"d6fb448ce996",[36961],{"_key":36962,"_type":177,"marks":36963,"text":36964},"f56cbd6b9011",[],"19 December 2008",[],{"_key":36967,"_type":173,"children":36968,"markDefs":36973,"style":182},"542d59b5aef5",[36969],{"_key":36970,"_type":177,"marks":36971,"text":36972},"35ba3c4b80dc0",[],"Hunting (LSE:HTG) today issues a trading update in advance of entering its close period.",[],{"_key":36975,"_type":173,"children":36976,"markDefs":36981,"style":182},"83a0b4afe93a",[36977],{"_key":36978,"_type":177,"marks":36979,"text":36980},"626dca13b3810",[179],"Dennis Proctor, Hunting's Chief Executive, said",[],{"_key":36983,"_type":173,"children":36984,"markDefs":36989,"style":13454},"9c50baa83623",[36985],{"_key":36986,"_type":177,"marks":36987,"text":36988},"260ec42a0b7a0",[],"\"The Group's current trading is good with an order book for some operations extending into the first half of next year. Despite the recent hurricane in the Gulf of Mexico that interrupted production for two weeks, the collapse of oil and gas prices and the global financial crisis, we expect year end results to be in line with market expectations.",[],{"_key":36991,"_type":173,"children":36992,"markDefs":36997,"style":13454},"f5d8cb19bf0e",[36993],{"_key":36994,"_type":177,"marks":36995,"text":36996},"7fc23d069cca0",[],"Hunting Energy Services' Well Construction Division will see a significant year over year improvement in earnings due to continued shale oil and gas drilling throughout the United States and as a result of additional capital expenditure within the division. The Well Completion Division will have a year over year modest growth primarily due to delays in North Sea completion activity. The Exploration and Production Division of Hunting Energy will see a year over year growth, however, minimized due to the fourth quarter lower commodity prices. Hunting Energy France will do a slightly lower year over year performance due to slippage in the delivery of orders into 2009. Gibson Shipbrokers has experienced a record year performance and therefore achieved greater results than 2007.",[],{"_key":36999,"_type":173,"children":37000,"markDefs":37005,"style":13454},"a0123a276de7",[37001],{"_key":37002,"_type":177,"marks":37003,"text":37004},"a83b79d1b04c0",[],"Clearly, oil and gas company capital expenditures are expected to decline in 2009, due to both commodity price decreases and global financial market conditions. It would be implausible to suggest how long and to what extent the expected decline will be. Any second half improvement in 2009 will be dependent on weather conditions in North America and the draw down of gas storage as well as oil price stability.",[],{"_key":37007,"_type":173,"children":37008,"markDefs":37013,"style":13454},"69e4fc2834fa",[37009],{"_key":37010,"_type":177,"marks":37011,"text":37012},"51daecbc25cb0",[],"At this juncture, many of our operators have yet to announce their budgeted capital expenditure for 2009. Our North American facilities will be more impacted by the decline in natural gas drilling. Contracts in Southeast Asia and the Middle East should remain solid through the first half of 2009.",[],{"_key":37015,"_type":173,"children":37016,"markDefs":37021,"style":13454},"13da2516ba18",[37017],{"_key":37018,"_type":177,"marks":37019,"text":37020},"fc30a24125480",[],"Following the sale of Gibson Energy as announced on December 12, the Company is strongly positioned financially to manage the declining industry, and more importantly, seize opportunities that will arise for investment of the capital. The longer-term industry fundamentals remain solid and upon recovery of the global market demand, the Company's assets are well positioned to regain strong earnings growth.\"",[],{"_key":36887,"_type":173,"children":37023,"markDefs":37026,"style":182},[37024],{"_key":36890,"_type":177,"marks":37025,"text":1126},[179],[],{"_key":37028,"_type":173,"children":37029,"markDefs":37033,"style":182},"7d16001d6f5c",[37030],{"_key":37031,"_type":177,"marks":37032,"text":30891},"ba09ef34f85f",[],[],{"_key":37035,"_type":173,"children":37036,"markDefs":37041,"style":182},"c03f1ebf64ec",[37037],{"_key":37038,"_type":177,"marks":37039,"text":37040},"ad7967bd1cf5",[],"Close Brothers Corporate Finance Limited\nAndrew Cunningham\nMichelle Le Merre Tel: 020 7655 3100",[],{"_key":37043,"_type":173,"children":37044,"markDefs":37049,"style":182},"ecd9b00ce2ca",[37045],{"_key":37046,"_type":177,"marks":37047,"text":37048},"03444fab2215",[],"RBS Hoare Govett Limited\nAndrew Foster\nTom Perry Tel: 020 7678 8000",[],{"_key":37051,"_type":173,"children":37052,"markDefs":37057,"style":182},"2dfa439e0e04",[37053],{"_key":37054,"_type":177,"marks":37055,"text":37056},"1e77e7579aef",[],"Buchanan Communications\nBen Willey\nRichard Darby\nChris McMahon Tel: 020 7466 5000",[],{"_key":36908,"_type":173,"children":37059,"markDefs":37062,"style":14843},[37060],{"_key":36911,"_type":177,"marks":37061,"text":10958},[],[],{"_key":36915,"_type":173,"children":37064,"markDefs":37067,"style":182},[37065],{"_key":36918,"_type":177,"marks":37066,"text":12234},[],[],{"_key":36922,"_type":173,"children":37069,"markDefs":37072,"style":182},[37070],{"_key":36925,"_type":177,"marks":37071,"text":36927},[],[],[37074],{"_key":35685,"_ref":1713,"_type":141},"Hunting PLC's current trading is good with an order book for some operations extending into the first half of next year","2008-12-19T10:11:00.000Z",{"_type":9,"current":37078},"19-12-2008",[37080,37081],{"_key":35692,"_ref":7180,"_type":141},{"_key":35694,"_ref":10968,"_type":141},"Pre close trading Update","\u002Fnews\u002F19-12-2008",{"_createdAt":37085,"_id":37086,"_rev":13935,"_type":168,"_updatedAt":116,"body":37087,"categories":37296,"introText":37298,"publishedAt":37299,"slug":37300,"tags":37302,"title":37304,"url":37305},"2023-02-21T10:26:51Z","86e315a2-f963-4508-85f4-f74ddc3113f5",[37088,37095,37103,37111,37119,37127,37135,37143,37151,37159,37167,37175,37183,37191,37198,37206,37214,37222,37230,37238,37243,37250,37257,37264,37272,37280,37288],{"_key":37089,"_type":173,"children":37090,"markDefs":37094,"style":182},"c869460c7cb2",[37091],{"_key":37092,"_type":177,"marks":37093,"text":36606},"77504ca9fcce0",[],[],{"_key":37096,"_type":173,"children":37097,"markDefs":37102,"style":14843},"c8df6d7e49d7",[37098],{"_key":37099,"_type":177,"marks":37100,"text":37101},"c9fe798d8050",[],"Completion of disposal of Gibson Energy.",[],{"_key":37104,"_type":173,"children":37105,"markDefs":37110,"style":182},"5c362b93bfa7",[37106],{"_key":37107,"_type":177,"marks":37108,"text":37109},"5bb8f353713d0",[],"Hunting PLC (LSE:HTG), the international energy services company, is pleased to announce the completion (\"Completion\") on 12 December 2008 of the disposal of Gibson Energy Holdings Inc. (Gibson\") to Gibson Acquisition ULC (formerly named 1413281 Alberta ULC), (\"the Purchaser\") a company ultimately owned by the Riverstone\u002FCarlyle Global Energy and Power Fund, an energy focused private equity fund managed by Riverstone Holdings LLC.",[],{"_key":37112,"_type":173,"children":37113,"markDefs":37118,"style":182},"43837b6e8798",[37114],{"_key":37115,"_type":177,"marks":37116,"text":37117},"4a649055b4320",[],"The total consideration for Gibson is CAN$1,258 million (approximately £617 million) of which CAN$1,158 million (approximately £568 million) was paid in cash on Completion. Under the original terms of the transaction as announced to shareholders on 6 August 2008, the total consideration was payable in cash on Completion. To assist the Purchaser with its financing, Hunting has agreed to defer payment of CAN$100 million (approximately £49 million) of the consideration through the receipt of a warrant (the \"Warrant\") entitling Hunting to CAN$100 million Preferred Equity Shares (\"Preferred Equity\") in the parent company of the Purchaser on exercise of the Warrant. The Preferred Equity will carry an annual dividend which is cumulative and compounding at a rate of 12%. After two years the Preferred Equity automatically converts into a separate class of common shares. The value of the common shares will equal CAN$100 million plus the amount of any accrued but unpaid dividends on the Preferred Equity at the date of conversion. The Purchaser (or an affiliate of the Purchaser) may purchase the Warrant from Hunting for cash plus a sum equal to any cumulative dividends on the Preferred Equity from the date that the Warrant has been issued.",[],{"_key":37120,"_type":173,"children":37121,"markDefs":37126,"style":182},"5039261f5881",[37122],{"_key":37123,"_type":177,"marks":37124,"text":37125},"fe5e39f66d6c0",[],"The total consideration for Gibson is subject to a deduction for estimated debt within Gibson of CAN$215 million (approximately £105 million) as at Completion and includes estimated net working capital in Gibson of CAN$158 million (approximately £77 million) at Completion. These estimates for debt and net working capital are subject to audit.",[],{"_key":37128,"_type":173,"children":37129,"markDefs":37134,"style":182},"de7ee7ddc490",[37130],{"_key":37131,"_type":177,"marks":37132,"text":37133},"6e16e7adc4fd0",[179],"Strategy and Use of Proceeds",[],{"_key":37136,"_type":173,"children":37137,"markDefs":37142,"style":182},"8346426893bc",[37138],{"_key":37139,"_type":177,"marks":37140,"text":37141},"f9f1935c78cb0",[],"As outlined on 6 August 2008, Hunting expects to use the proceeds from the disposal to invest in Hunting Energy Services, make earnings enhancing acquisitions and to eliminate net borrowings.",[],{"_key":37144,"_type":173,"children":37145,"markDefs":37150,"style":182},"e61144d50e3e",[37146],{"_key":37147,"_type":177,"marks":37148,"text":37149},"0eca8bab369a0",[],"The Board of Hunting has to date reviewed a number of acquisition opportunities and with the funds now in place will progress these discussions. Further announcements will be made when appropriate.",[],{"_key":37152,"_type":173,"children":37153,"markDefs":37158,"style":182},"a199c5571003",[37154],{"_key":37155,"_type":177,"marks":37156,"text":37157},"22811736697b0",[179],"Board Change",[],{"_key":37160,"_type":173,"children":37161,"markDefs":37166,"style":182},"9149e621e845",[37162],{"_key":37163,"_type":177,"marks":37164,"text":37165},"066524bab5dc0",[],"The Company also announces that Terry Gomke, the President and Chief Executive of Gibson, steps down from the Board of Hunting with effect from 12 December 2008. The Board would like to thank Terry for all his work with Gibson over the years and extend their best wishes to him and his team as Gibson enters a new phase of its development.",[],{"_key":37168,"_type":173,"children":37169,"markDefs":37174,"style":182},"9225d979d8a0",[37170],{"_key":37171,"_type":177,"marks":37172,"text":37173},"5954a8c9ae820",[],"Commenting on the Completion of the disposal, Dennis Proctor, Chief Executive of Hunting said:",[],{"_key":37176,"_type":173,"children":37177,"markDefs":37182,"style":13454},"443556fea3d9",[37178],{"_key":37179,"_type":177,"marks":37180,"text":37181},"aaf3b4ddec930",[],"\"We are delighted to have completed the disposal of Gibson, in what has been a challenging time for global markets. With the proceeds of the transaction in place, I am confident that the Board will successfully conclude a number of acquisitions which will enable Hunting to continue its impressive growth.",[],{"_key":37184,"_type":173,"children":37185,"markDefs":37190,"style":13454},"69ec5f4ddde4",[37186],{"_key":37187,"_type":177,"marks":37188,"text":37189},"82c5436c72690",[],"We now turn to the future with a strong capital structure, poised to grow further as the energy sector continues to demand Hunting's excellent products and technologies.\"",[],{"_key":37192,"_type":173,"children":37193,"markDefs":37197,"style":182},"bcb938f99501",[37194],{"_key":37195,"_type":177,"marks":37196,"text":1126},"f26c1f538e370",[179],[],{"_key":37199,"_type":173,"children":37200,"markDefs":37205,"style":182},"21065673eba3",[37201],{"_key":37202,"_type":177,"marks":37203,"text":37204},"31f2bf7f545a0",[],"Hunting PLC\nDennis Proctor, Chief Executive\nPeter Rose, Finance Director Tel: +44 20 7321 0123\n+1 713 595 2950",[],{"_key":37207,"_type":173,"children":37208,"markDefs":37213,"style":182},"809e8c9eab3c",[37209],{"_key":37210,"_type":177,"marks":37211,"text":37212},"e17cd90fd86f0",[],"Close Brothers Corporate Finance Limited\nAndrew Cunningham\nMichelle Le Merre Tel: +44 20 7655 3100",[],{"_key":37215,"_type":173,"children":37216,"markDefs":37221,"style":182},"b1ddc80af59b",[37217],{"_key":37218,"_type":177,"marks":37219,"text":37220},"ff4e3238705e0",[],"Simmons & Company International\nJames Baker\nSpencer Rippstein Tel: +1 713 236 9999",[],{"_key":37223,"_type":173,"children":37224,"markDefs":37229,"style":182},"00e0c9ff2c40",[37225],{"_key":37226,"_type":177,"marks":37227,"text":37228},"8b3a379c3aac0",[],"RBS Hoare Govett Limited\nAndrew Foster\nTom Perry Tel: +44 20 7678 8000",[],{"_key":37231,"_type":173,"children":37232,"markDefs":37237,"style":182},"62aa0696aeac",[37233],{"_key":37234,"_type":177,"marks":37235,"text":37236},"4bddf2a31a340",[],"Buchanan Communication\nBen Willey\nRichard Darby\nChris McMahon\nCatherine Breen Tel: +44 20 7466 5000\n+44 7718 771513\n+44 7970 799176\n+44 7793 076867\n+44 7981 921513",[],{"_key":36908,"_type":173,"children":37239,"markDefs":37242,"style":14843},[37240],{"_key":36911,"_type":177,"marks":37241,"text":10958},[],[],{"_key":37244,"_type":173,"children":37245,"markDefs":37249,"style":182},"950b8ef69154",[37246],{"_key":37247,"_type":177,"marks":37248,"text":12234},"dd507fce15670",[179],[],{"_key":37251,"_type":173,"children":37252,"markDefs":37256,"style":182},"7ad563f0dc1a",[37253],{"_key":37254,"_type":177,"marks":37255,"text":36927},"1a3e073e1b6f0",[],[],{"_key":37258,"_type":173,"children":37259,"markDefs":37263,"style":182},"20bfdb345e3f",[37260],{"_key":37261,"_type":177,"marks":37262,"text":14764},"9ad8ee7b8fe10",[179],[],{"_key":37265,"_type":173,"children":37266,"markDefs":37271,"style":182},"54a0f10f7f7d",[37267],{"_key":37268,"_type":177,"marks":37269,"text":37270},"2bc86bb8b0840",[],"Hunting Energy Services is a global provider of upstream oil and gas equipment. Sales and service operations are located in the major oil centres of the world including 20 company owned facilities and a network of more than 60 licensed partners. The division has approximately 1,500 employees under four business platforms: well construction, well completion, exploration and production and Hunting Energy France, a provider of petrochemical equipment.",[],{"_key":37273,"_type":173,"children":37274,"markDefs":37279,"style":182},"cf4180679206",[37275],{"_key":37276,"_type":177,"marks":37277,"text":37278},"801fc0c9f9930",[179],"Information on Gibson Acquisition ULC (formerly 1413281 Alberta ULC)",[],{"_key":37281,"_type":173,"children":37282,"markDefs":37287,"style":182},"903eade110d1",[37283],{"_key":37284,"_type":177,"marks":37285,"text":37286},"baafca6d81fd0",[],"Gibson Acquisition ULC is a company formed for the purposes of the acquisition of Gibson and ultimately owned by the Riverstone\u002FCarlyle Global Energy and Power Funds, a group of energy focused private equity funds managed by Riverstone. Riverstone is a New York-based energy and power focused private equity firm founded in 2000 with approximately US$16 billion under management. Riverstone conducts buyout and growth capital investments in the midstream, upstream, power, oilfield services and renewable sectors of the energy industry. To date, the firm has committed more than US$10.8 billion to 58 investments across these five sectors.",[],{"_key":37289,"_type":173,"children":37290,"markDefs":37295,"style":182},"dfec2d4c8d33",[37291],{"_key":37292,"_type":177,"marks":37293,"text":37294},"894cb094a00f0",[],"Ends",[],[37297],{"_key":35685,"_ref":1713,"_type":141},"Hunting PLC is pleased to announce the completion on 12 December 2008 of the disposal of Gibson Energy Holdings Inc. (Gibson\")","2008-12-15T10:11:00.000Z",{"_type":9,"current":37301},"15-12-2008",[37303],{"_key":35692,"_ref":7180,"_type":141},"Completion of sale of Gibson Energy","\u002Fnews\u002F15-12-2008",{"_createdAt":37307,"_id":37308,"_rev":10063,"_type":168,"_updatedAt":116,"body":37309,"categories":37409,"introText":37411,"publishedAt":37412,"slug":37413,"tags":37415,"title":37324,"url":37419},"2023-02-21T10:28:40Z","950762ac-7742-416d-8a09-9aca811fb4f5",[37310,37318,37326,37334,37341,37349,37357,37365,37373,37380,37387,37394,37399,37404],{"_key":37311,"_type":173,"children":37312,"markDefs":37317,"style":182},"b1ac21d5de5e",[37313],{"_key":37314,"_type":177,"marks":37315,"text":37316},"8ebdee5bf4a60",[],"Hunting PLC\n(\"Hunting\" or \"the Company\" or \"the Group\")",[],{"_key":37319,"_type":173,"children":37320,"markDefs":37325,"style":14843},"c9c9e1ee4534",[37321],{"_key":37322,"_type":177,"marks":37323,"text":37324},"b6605267260c",[],"Trading Update and Interim Management Statement",[],{"_key":37327,"_type":173,"children":37328,"markDefs":37333,"style":182},"114b007b93c9",[37329],{"_key":37330,"_type":177,"marks":37331,"text":37332},"01aad5c0a5fc0",[],"Hunting PLC (LSE:HTG), the international energy services company, today published its second half Interim Management Statement for the period 1 July 2008 to 13 November 2008, as required by the UK Listing Authority's Disclosure and Transparency Rules.",[],{"_key":37335,"_type":173,"children":37336,"markDefs":37340,"style":182},"c27379e59104",[37337],{"_key":37338,"_type":177,"marks":37339,"text":35856},"da46f9c5f26f0",[179],[],{"_key":37342,"_type":173,"children":37343,"markDefs":37348,"style":182},"f9f2dc8a2fdc",[37344],{"_key":37345,"_type":177,"marks":37346,"text":37347},"6c695a14878a0",[],"Results from operations within Hunting Energy Services remain strong against excellent order book positions. Within Well Completion, North Sea facilities are reporting stronger results compared to the first half of 2008 and in Well Construction demand for our mud motors continues to increase on the back of the new Shale discoveries in the USA. The recent hurricane activity in the Gulf of Mexico impacted our US operations with a number of facilities shutting down for several weeks due to the absence of power. In addition, production from our oil and gas facilities within our E&P business were shut-in while the pipeline infrastructure was checked. At this stage we expect to be able to catch up lost production by the year end.",[],{"_key":37350,"_type":173,"children":37351,"markDefs":37356,"style":182},"4bf331e8fde1",[37352],{"_key":37353,"_type":177,"marks":37354,"text":37355},"24452e5bf7ca0",[],"Our new manufacturing facility in Mexico is on schedule to be commissioned by the end of the year and additional production facilities are targeted for the Middle and Far East.",[],{"_key":37358,"_type":173,"children":37359,"markDefs":37364,"style":182},"498cdeb3fa5b",[37360],{"_key":37361,"_type":177,"marks":37362,"text":37363},"15475839f54e0",[],"There has been no significant change in the financial position of the Group since the publication of the results for the six months ended 30 June 2008.",[],{"_key":37366,"_type":173,"children":37367,"markDefs":37372,"style":182},"5b869d831958",[37368],{"_key":37369,"_type":177,"marks":37370,"text":37371},"a9c93e1ba5170",[],"Subject to our ability to catch up lost production, trading remains in line with the Board's expectations. 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The delay is due to the timing of receipt of the Canadian Transportation Act, Investment Canada Act and competition regulatory clearances. The Company does not anticipate any issues in obtaining these clearances. Hunting shareholders approved the disposal of Gibson Energy at the Extraordinary General Meeting held on 26 August 2008. All other conditions relating to the completion process are either complete or remain on schedule.",[],{"_key":37448,"_type":173,"children":37449,"markDefs":37453,"style":182},"cc89533c4d54",[37450],{"_key":37451,"_type":177,"marks":37452,"text":1126},"2d9f4083ea670",[179],[],{"_key":37455,"_type":173,"children":37456,"markDefs":37460,"style":182},"295d3d3c6a58",[37457],{"_key":37458,"_type":177,"marks":37459,"text":30891},"7fd10f8faabf0",[],[],{"_key":37462,"_type":173,"children":37463,"markDefs":37468,"style":182},"06f6128fb2d5",[37464],{"_key":37465,"_type":177,"marks":37466,"text":37467},"2955325663ed0",[],"Buchanan Communications\nBen Willey\nCatherine Breen Tel: 020 7466 5000",[],{"_key":36908,"_type":173,"children":37470,"markDefs":37473,"style":14843},[37471],{"_key":36911,"_type":177,"marks":37472,"text":10958},[],[],{"_key":37244,"_type":173,"children":37475,"markDefs":37478,"style":182},[37476],{"_key":37247,"_type":177,"marks":37477,"text":12234},[179],[],{"_key":37480,"_type":173,"children":37481,"markDefs":37485,"style":182},"9ddf8d83e9a4",[37482],{"_key":37483,"_type":177,"marks":37484,"text":36927},"688b9179bbb60",[],[],{"_key":37487,"_type":173,"children":37488,"markDefs":37493,"style":182},"71189c65682a",[37489],{"_key":37490,"_type":177,"marks":37491,"text":37492},"c007c72e5ecc0",[],"This information is provided by RNS The company news service from the London Stock Exchange.",[],{"_key":37495,"_type":173,"children":37496,"markDefs":37501,"style":182},"32b5c6a543c6",[37497],{"_key":37498,"_type":177,"marks":37499,"text":37500},"979c8f1625530",[],"RNS news service provided by Hemscott Group Limited.",[],[37503],{"_key":35685,"_ref":1713,"_type":141},"The disposal of Gibson Energy announced on 6 August 2008 is now expected to complete at the end of October 2008 or early November.","2008-09-29T09:11:00.000Z",{"_type":9,"current":37507},"29-09-2008",[37509],{"_key":35692,"_ref":7180,"_type":141},"\u002Fnews\u002F29-09-2008",{"_createdAt":37512,"_id":37513,"_rev":16709,"_type":168,"_updatedAt":116,"body":37514,"categories":37702,"introText":37704,"publishedAt":37705,"slug":37706,"tags":37708,"title":37712,"url":37713},"2023-02-21T10:31:35Z","dfc4a545-2440-40fb-984d-c9e71a6c3082",[37515,37522,37529,37537,37544,37552,37560,37568,37576,37584,37591,37599,37607,37615,37623,37631,37639,37646,37654,37662,37669,37676,37684,37689,37694],{"_key":37516,"_type":173,"children":37517,"markDefs":37521,"style":182},"5d87b4bcfd87",[37518],{"_key":37519,"_type":177,"marks":37520,"text":36606},"fd0bfae4a0d70",[],[],{"_key":37523,"_type":173,"children":37524,"markDefs":37528,"style":182},"05c03aa54db6",[37525],{"_key":37526,"_type":177,"marks":37527,"text":20065},"ac7b3e1d9e69",[],[],{"_key":37530,"_type":173,"children":37531,"markDefs":37536,"style":182},"450306da2dc7",[37532],{"_key":37533,"_type":177,"marks":37534,"text":37535},"76518b70868f0",[],"Hunting PLC, the international energy services company today announces its Half Year Results for the six month period ended 30 June 2008.",[],{"_key":37538,"_type":173,"children":37539,"markDefs":37543,"style":14843},"7ee6f5d27544",[37540],{"_key":37541,"_type":177,"marks":37542,"text":21538},"56479089f6e30",[],[],{"_key":37545,"_type":173,"children":37546,"level":955,"listItem":2555,"markDefs":37551,"style":182},"0bd72bc6a36d",[37547],{"_key":37548,"_type":177,"marks":37549,"text":37550},"5552ec7c53780",[],"Shareholder approval obtained on 26 August for the disposal of Gibson Energy - for a total consideration of CAN$1,270m subject to adjustments",[],{"_key":37553,"_type":173,"children":37554,"level":955,"listItem":2555,"markDefs":37559,"style":182},"e75a8e04df29",[37555],{"_key":37556,"_type":177,"marks":37557,"text":37558},"fe6a0669fbbd0",[],"Hunting Energy Services division (\"HES\") to acquire complementary businesses as demand for products and technical expertise continues to outpace industry supply",[],{"_key":37561,"_type":173,"children":37562,"level":955,"listItem":2555,"markDefs":37567,"style":182},"4cc111023273",[37563],{"_key":37564,"_type":177,"marks":37565,"text":37566},"b82acf23bfb90",[],"Strong performance in HES' division",[],{"_key":37569,"_type":173,"children":37570,"level":955,"listItem":2555,"markDefs":37575,"style":182},"ea41dff69f2c",[37571],{"_key":37572,"_type":177,"marks":37573,"text":37574},"dd3429d5d5cc0",[],"Strong order visibility in certain of HES' units into 2009",[],{"_key":37577,"_type":173,"children":37578,"level":955,"listItem":2555,"markDefs":37583,"style":182},"e6788d0ac92c",[37579],{"_key":37580,"_type":177,"marks":37581,"text":37582},"68382336c3600",[],"Other Hunting businesses remain in line with management expectations",[],{"_key":37585,"_type":173,"children":37586,"markDefs":37590,"style":14843},"7420755efd0f",[37587],{"_key":37588,"_type":177,"marks":37589,"text":262},"3a7c123981aa0",[],[],{"_key":37592,"_type":173,"children":37593,"level":955,"listItem":2555,"markDefs":37598,"style":182},"cc23ad1a71d6",[37594],{"_key":37595,"_type":177,"marks":37596,"text":37597},"b2e42b259f3c0",[],"Revenue in period £201.2m (2007: £214.5m)",[],{"_key":37600,"_type":173,"children":37601,"level":955,"listItem":2555,"markDefs":37606,"style":182},"c56eaceb6543",[37602],{"_key":37603,"_type":177,"marks":37604,"text":37605},"525932c24cca0",[],"EBITDA pre-exceptional items for continuing operations increased 14% to £32.1m (2007: £28.2m)",[],{"_key":37608,"_type":173,"children":37609,"level":955,"listItem":2555,"markDefs":37614,"style":182},"734f7ff7d36b",[37610],{"_key":37611,"_type":177,"marks":37612,"text":37613},"9ff52e4bcfe80",[],"Profit from continuing operations before exceptional items increased 11% to £23.9m (2007: £21.5m)",[],{"_key":37616,"_type":173,"children":37617,"level":955,"listItem":2555,"markDefs":37622,"style":182},"a0866ad58fd9",[37618],{"_key":37619,"_type":177,"marks":37620,"text":37621},"402f624664930",[],"Basic EPS before exceptional items increased 32% in the period to 9.6p (2007: 7.3p)",[],{"_key":37624,"_type":173,"children":37625,"level":955,"listItem":2555,"markDefs":37630,"style":182},"8214def8eade",[37626],{"_key":37627,"_type":177,"marks":37628,"text":37629},"a96b27bdfdda0",[],"Interim Dividend increased 14% to 2.9p (2007 : 2.55p)",[],{"_key":37632,"_type":173,"children":37633,"markDefs":37638,"style":182},"b19472dfd99f",[37634],{"_key":37635,"_type":177,"marks":37636,"text":37637},"c548629481810",[],"(* - 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The Hunting Energy Services division is well placed to continue its growth from the Well Construction and Completion businesses as hydrocarbon exploration requires more complex and innovative solutions to secure resources and reserves.",[],{"_key":37655,"_type":173,"children":37656,"markDefs":37661,"style":13454},"809b90b0d197",[37657],{"_key":37658,"_type":177,"marks":37659,"text":37660},"4a976c6f38dc0",[],"\"With the proceeds of the sale of Gibson Energy, we are confident of adding complementary and earnings enhancing businesses.\"",[],{"_key":37663,"_type":173,"children":37664,"markDefs":37668,"style":182},"d5e2a1a58bfc",[37665],{"_key":37666,"_type":177,"marks":37667,"text":1126},"257023983a0c0",[179],[],{"_key":37670,"_type":173,"children":37671,"markDefs":37675,"style":182},"f96b863b0ef4",[37672],{"_key":37673,"_type":177,"marks":37674,"text":30891},"492fd5b421c30",[],[],{"_key":37677,"_type":173,"children":37678,"markDefs":37683,"style":182},"9ed7bc9c246f",[37679],{"_key":37680,"_type":177,"marks":37681,"text":37682},"bb4c9f422cdb0",[],"Buchanan Communications\nBen Willey\nCatherine Breen\nChris McMahon Tel: 020 7466 5000",[],{"_key":36908,"_type":173,"children":37685,"markDefs":37688,"style":14843},[37686],{"_key":36911,"_type":177,"marks":37687,"text":10958},[],[],{"_key":37244,"_type":173,"children":37690,"markDefs":37693,"style":182},[37691],{"_key":37247,"_type":177,"marks":37692,"text":12234},[179],[],{"_key":37695,"_type":173,"children":37696,"markDefs":37701,"style":182},"e722fe71bc89",[37697],{"_key":37698,"_type":177,"marks":37699,"text":37700},"1d0458a1274e0",[],"Hunting PLC is an international energy services provider to the world's leading oil and gas companies in the upstream and midstream sectors. Established in 1874, it is a fully listed public company traded on the London Stock Exchange. The Company maintains a corporate office in Houston and is headquartered in London. As well as the United Kingdom, the Company has principal operations in Canada, China, France, Holland, Hong Kong, Singapore, United Arab Emirates and the United States of America.",[],[37703],{"_key":35685,"_ref":1713,"_type":141},"Hunting PLC today announces its Half Year Results for the six month period ended 30 June 2008","2008-08-28T09:11:00.000Z",{"_type":9,"current":37707},"28-08-2008",[37709,37710],{"_key":35692,"_ref":7180,"_type":141},{"_key":37711,"_ref":15507,"_type":141},"3f7dd9a165f4","Hunting PLC 2008 Half Year Results","\u002Fnews\u002F28-08-2008",{"_createdAt":37715,"_id":37716,"_rev":16709,"_type":168,"_updatedAt":116,"body":37717,"categories":37859,"introText":37861,"publishedAt":37862,"slug":37863,"tags":37865,"title":37867,"url":37868},"2023-02-21T10:33:21Z","d176fbc6-86e1-462c-bd7c-dbe9d0945573",[37718,37726,37734,37742,37750,37758,37766,37774,37782,37790,37798,37806,37814,37822,37830,37837,37844,37852],{"_key":37719,"_type":173,"children":37720,"markDefs":37725,"style":182},"9aa510a753ae",[37721],{"_key":37722,"_type":177,"marks":37723,"text":37724},"a3749f7727380",[],"For Immediate Release 26 August 2008",[],{"_key":37727,"_type":173,"children":37728,"markDefs":37733,"style":182},"ad629a2cc38c",[37729],{"_key":37730,"_type":177,"marks":37731,"text":37732},"cc0ba89f3c9f0",[],"Hunting PLC (\"Hunting\") - ",[],{"_key":37735,"_type":173,"children":37736,"markDefs":37741,"style":14843},"6d7de1a715c5",[37737],{"_key":37738,"_type":177,"marks":37739,"text":37740},"671d92c6d818",[],"Result of EGM\nProposed Disposal of Gibson Energy approved by Hunting Shareholders",[],{"_key":37743,"_type":173,"children":37744,"markDefs":37749,"style":182},"bffbbacd191f",[37745],{"_key":37746,"_type":177,"marks":37747,"text":37748},"8a5ab4cdfdfb0",[],"Hunting is pleased to announce that the Resolution in respect of the Disposal of Gibson Energy was duly passed at the EGM of Hunting held today, notice of which was contained in Hunting's circular to Shareholders dated 6 August 2008 (the \"Circular\").",[],{"_key":37751,"_type":173,"children":37752,"markDefs":37757,"style":182},"22101770637d",[37753],{"_key":37754,"_type":177,"marks":37755,"text":37756},"dbecd7b1f9460",[],"The Disposal remains subject to the satisfaction or waiver of the other conditions to Completion described in the Circular, including obtaining certain North American regulatory clearances. It is expected that Completion of the Disposal will take place on 1 October 2008.",[],{"_key":37759,"_type":173,"children":37760,"markDefs":37765,"style":182},"a0939b3746d4",[37761],{"_key":37762,"_type":177,"marks":37763,"text":37764},"74c662d2c1f30",[],"Two copies of the Resolution passed at the EGM have been submitted to the UK Listing Authority, and will shortly be available for inspection at its Document Viewing Facility, which is situated at:",[],{"_key":37767,"_type":173,"children":37768,"markDefs":37773,"style":182},"57f0d6b13064",[37769],{"_key":37770,"_type":177,"marks":37771,"text":37772},"0a3d4da6a2ae0",[],"UK Listing Authority\n25 The North Colonnade\nCanary Wharf\nLondon\nE14 5HS",[],{"_key":37775,"_type":173,"children":37776,"markDefs":37781,"style":182},"270210518299",[37777],{"_key":37778,"_type":177,"marks":37779,"text":37780},"3496ce916332",[],"Details of the proxy votes on the Resolution received by 10.00 a.m. on 24 August 2008 are set out below. The number of ordinary shares of 25 pence each in issue at that date was 131,967,705.",[],{"_key":37783,"_type":173,"children":37784,"markDefs":37789,"style":182},"d9c6e30d54ee",[37785],{"_key":37786,"_type":177,"marks":37787,"text":37788},"5eec695130370",[],"VOTES FOR\n96,689,584",[],{"_key":37791,"_type":173,"children":37792,"markDefs":37797,"style":182},"1cc94264f70f",[37793],{"_key":37794,"_type":177,"marks":37795,"text":37796},"5d5c48d38ede",[],"VOTES CAST AT DISCRETION\n6,299,132",[],{"_key":37799,"_type":173,"children":37800,"markDefs":37805,"style":182},"bba47fe58a7e",[37801],{"_key":37802,"_type":177,"marks":37803,"text":37804},"b4965bffb984",[],"VOTES AGAINST\n24,869",[],{"_key":37807,"_type":173,"children":37808,"markDefs":37813,"style":182},"2f2cb1545fcd",[37809],{"_key":37810,"_type":177,"marks":37811,"text":37812},"b39995675844",[],"VOTES WITHHELD\n173,647",[],{"_key":37815,"_type":173,"children":37816,"markDefs":37821,"style":182},"fec19d7dc997",[37817],{"_key":37818,"_type":177,"marks":37819,"text":37820},"b67bad193e9b",[],"TOTAL PROXY VOTE\n103,187,232",[],{"_key":37823,"_type":173,"children":37824,"markDefs":37829,"style":182},"27402c76891c",[37825],{"_key":37826,"_type":177,"marks":37827,"text":37828},"f0452bd450600",[],"Terms defined in the Circular have the same meaning herein, unless the context requires otherwise.",[],{"_key":37831,"_type":173,"children":37832,"markDefs":37836,"style":182},"911505e3674c",[37833],{"_key":37834,"_type":177,"marks":37835,"text":1126},"251cbc1926640",[179],[],{"_key":37838,"_type":173,"children":37839,"markDefs":37843,"style":182},"b09363365786",[37840],{"_key":37841,"_type":177,"marks":37842,"text":30891},"4eb3f85a179b0",[],[],{"_key":37845,"_type":173,"children":37846,"markDefs":37851,"style":182},"db0c74bcf2c2",[37847],{"_key":37848,"_type":177,"marks":37849,"text":37850},"5a2fd2fe71990",[],"Close Brothers Corporate Finance Limited\nAndrew Cunningham\nDafydd Evans Tel: 020 7655 3100",[],{"_key":37853,"_type":173,"children":37854,"markDefs":37858,"style":182},"20d25d9db927",[37855],{"_key":37856,"_type":177,"marks":37857,"text":37467},"7f8340f432740",[],[],[37860],{"_key":35685,"_ref":1713,"_type":141},"Hunting is pleased to announce that the Resolution in respect of the disposal of Gibson Energy was duly passed at the EGM of Hunting held today","2008-08-26T09:11:00.000Z",{"_type":9,"current":37864},"26-08-2008",[37866],{"_key":35692,"_ref":7180,"_type":141},"Proposed Disposal of Gibson Energy approved by shareholders","\u002Fnews\u002F26-08-2008",{"_createdAt":37870,"_id":37871,"_rev":12752,"_type":168,"_updatedAt":116,"body":37872,"categories":39077,"introText":39079,"publishedAt":37862,"slug":39080,"tags":39082,"title":37886,"url":39084},"2023-02-21T10:36:31Z","fc3cc028-8f6c-4fdb-94bd-e33787d0b4c3",[37873,37880,37888,37896,37904,37912,37920,37928,37936,37944,37952,37960,37968,37976,37984,37992,38000,38008,38015,38022,38029,38037,38045,38052,38059,38066,38073,38080,38087,38095,38103,38111,38119,38127,38134,38142,38150,38158,38166,38174,38182,38190,38198,38206,38214,38222,38230,38238,38246,38254,38262,38270,38278,38286,38294,38302,38310,38318,38326,38334,38342,38350,38358,38366,38374,38382,38390,38398,38406,38414,38422,38430,38438,38446,38454,38461,38469,38476,38480,38488,38496,38504,38512,38520,38528,38536,38543,38547,38554,38562,38569,38577,38585,38593,38601,38609,38617,38625,38633,38641,38649,38657,38665,38673,38681,38689,38697,38705,38713,38721,38729,38737,38749,38761,38773,38785,38797,38809,38821,38833,38845,38857,38869,38881,38893,38905,38917,38929,38945,38957,38969,38981,38993,39005,39017,39029,39041,39053,39065],{"_key":37874,"_type":173,"children":37875,"markDefs":37879,"style":182},"f86fadcb0ae5",[37876],{"_key":37877,"_type":177,"marks":37878,"text":37316},"c8c7e3e3f2840",[],[],{"_key":37881,"_type":173,"children":37882,"markDefs":37887,"style":14843},"28ef1658c055",[37883],{"_key":37884,"_type":177,"marks":37885,"text":37886},"4fb668fe65e4",[],"Proposed Disposal of Gibson Energy",[],{"_key":37889,"_type":173,"children":37890,"markDefs":37895,"style":182},"8319cc230da0",[37891],{"_key":37892,"_type":177,"marks":37893,"text":37894},"d7b2ad9af2810",[],"Hunting PLC (LSE:HTG), the international energy services group, announces the Proposed Disposal of Gibson Energy, its midstream oil and gas group based in Alberta, Canada, to 1413281 Alberta ULC, a company formed for the purposes of the Disposal and ultimately owned by the Riverstone\u002FCarlyle Global Energy and Power Funds, a group of energy focused private equity funds managed by Riverstone. The transaction is subject to shareholder approval and certain regulatory clearances.",[],{"_key":37897,"_type":173,"children":37898,"markDefs":37903,"style":14843},"0fa3fcfc2367",[37899],{"_key":37900,"_type":177,"marks":37901,"text":37902},"ea1564efd8a2",[],"Transaction Highlights",[],{"_key":37905,"_type":173,"children":37906,"level":955,"listItem":2555,"markDefs":37911,"style":182},"8f6b61e4259e",[37907],{"_key":37908,"_type":177,"marks":37909,"text":37910},"e4aa9af650640",[],"The total consideration for Gibson Energy is CAN$1,270 million (approximately £626 million), subject to the Adjustments. The total consideration includes payment for the net working capital in the Gibson Energy Group as at Completion, which is estimated to be CAN$170 million (approximately £84 million);",[],{"_key":37913,"_type":173,"children":37914,"level":955,"listItem":2555,"markDefs":37919,"style":182},"45c22b7dc53f",[37915],{"_key":37916,"_type":177,"marks":37917,"text":37918},"de3cc70b0e640",[],"The total consideration represents a multiple of 13x Gibson Energy's profit from operations in 2007. Hunting will record a profit on Disposal of approximately £305 million in the current year;",[],{"_key":37921,"_type":173,"children":37922,"level":955,"listItem":2555,"markDefs":37927,"style":182},"aba29dcfaffa",[37923],{"_key":37924,"_type":177,"marks":37925,"text":37926},"940afa5197370",[],"The Purchaser has paid a deposit of CAN$100 million (approximately £49 million) and the balance of the total consideration is payable in cash on Completion, subject to the Adjustments and subject to the receipt of an appropriate tax certificate from the Minister of National Revenue in Canada;",[],{"_key":37929,"_type":173,"children":37930,"level":955,"listItem":2555,"markDefs":37935,"style":182},"e40f78b6f833",[37931],{"_key":37932,"_type":177,"marks":37933,"text":37934},"c7b32c8935a00",[],"Following Completion, the Continuing Group's operations will be focused on the Hunting Energy Services division, the vertically integrated supplier of well construction and well completion equipment, exploration and production services and petrochemical equipment. Hunting Energy Services has been the fastest growing division of the Group, recording 57 per cent. compounded annual growth in profit from operations over the last five years;",[],{"_key":37937,"_type":173,"children":37938,"level":955,"listItem":2555,"markDefs":37943,"style":182},"038dfe2020de",[37939],{"_key":37940,"_type":177,"marks":37941,"text":37942},"a8120a3d59720",[],"The net proceeds from the Disposal will be used to invest in Hunting Energy Services, make earnings enhancing acquisitions and to eliminate net borrowings. The Board remains committed to pursuing an efficient capital structure for the Group and will continue to review its strategy in this regard in the context of the available acquisition opportunities; and",[],{"_key":37945,"_type":173,"children":37946,"level":955,"listItem":2555,"markDefs":37951,"style":182},"8aaedb6fc28b",[37947],{"_key":37948,"_type":177,"marks":37949,"text":37950},"07505d75f4c20",[],"The Proposed Disposal is conditional upon, inter alia, Hunting obtaining the approval of its Shareholders at the EGM which will be held at 10.00a.m on 26 August 2008 and obtaining certain North American regulatory clearances.",[],{"_key":37953,"_type":173,"children":37954,"markDefs":37959,"style":182},"80cd88ef68a0",[37955],{"_key":37956,"_type":177,"marks":37957,"text":37958},"ea2401b856c50",[179],"Commenting on the Proposed Disposal of Gibson Energy, Dennis Proctor, Chief Executive Officer of Hunting said:",[],{"_key":37961,"_type":173,"children":37962,"markDefs":37967,"style":13454},"5a91f1dd9d8b",[37963],{"_key":37964,"_type":177,"marks":37965,"text":37966},"0b8982e6af880",[],"\"Gibson Energy has grown to be the largest independent midstream energy company in Canada and has added significant shareholder value. We believe that now is the right time to dispose of the business and the consideration fairly reflects the value in the business. Its disposal comes at a point in the Company's development where we believe resources dedicated towards our upstream, technology-driven, Hunting Energy Services division will enhance shareholder value beyond the potential of the combined entity. Further, we are confident that earnings enhancing acquisitions and further organic growth can be achieved to expand the Continuing Group within a reasonable time frame. With Hunting Energy Services' global footprint, there are significant opportunities for acquisitions and regional expansion. Discussions are currently underway with several targets which, if successful, will enhance the existing platforms or expand capacity.\"",[],{"_key":37969,"_type":173,"children":37970,"markDefs":37975,"style":182},"268ab9286232",[37971],{"_key":37972,"_type":177,"marks":37973,"text":37974},"b24bb64916eb0",[],"A Circular containing further details relating to the Proposed Disposal and the convening of the Extraordinary General Meeting is being posted to Shareholders today.",[],{"_key":37977,"_type":173,"children":37978,"markDefs":37983,"style":182},"410854ccbd5c",[37979],{"_key":37980,"_type":177,"marks":37981,"text":37982},"1ad5a0e112680",[179],"Newswire conference call and analyst call",[],{"_key":37985,"_type":173,"children":37986,"markDefs":37991,"style":182},"7b6f65385bcf",[37987],{"_key":37988,"_type":177,"marks":37989,"text":37990},"29751ee1d39a0",[],"The management of Hunting will be hosting a newswire conference call today commencing at 8.00a.m. (BST) to discuss today's announcement.",[],{"_key":37993,"_type":173,"children":37994,"markDefs":37999,"style":182},"f867e0052125",[37995],{"_key":37996,"_type":177,"marks":37997,"text":37998},"3dd6186f3df40",[],"In addition, a further conference call with investment analysts will be held today at 9:00a.m. (BST).",[],{"_key":38001,"_type":173,"children":38002,"markDefs":38007,"style":182},"c48b876c2f19",[38003],{"_key":38004,"_type":177,"marks":38005,"text":38006},"dbf135ac95d60",[],"Dial in details for both calls can be obtained from Buchanan Communications and a presentation accompanying these calls is now available at www.hunting.plc.uk and www.buchanan.uk.com.",[],{"_key":38009,"_type":173,"children":38010,"markDefs":38014,"style":182},"f3a6a4a2e8d4",[38011],{"_key":38012,"_type":177,"marks":38013,"text":1126},"814d120b2cf30",[179],[],{"_key":38016,"_type":173,"children":38017,"markDefs":38021,"style":182},"94cc64e23a7a",[38018],{"_key":38019,"_type":177,"marks":38020,"text":30891},"33cf91c311c00",[],[],{"_key":38023,"_type":173,"children":38024,"markDefs":38028,"style":182},"d6f9a2eb9927",[38025],{"_key":38026,"_type":177,"marks":38027,"text":37040},"f34c2badc7800",[],[],{"_key":38030,"_type":173,"children":38031,"markDefs":38036,"style":182},"71ddb96169c3",[38032],{"_key":38033,"_type":177,"marks":38034,"text":38035},"4a554567a0650",[],"Simmons & Company International\nJames Baker\nSpencer Rippstein Tel: 00 1 713 236 9999",[],{"_key":38038,"_type":173,"children":38039,"markDefs":38044,"style":182},"1fb0cdf38ccf",[38040],{"_key":38041,"_type":177,"marks":38042,"text":38043},"855afdb20cf20",[],"Hoare Govett Limited\nAndrew Foster\nTom Perry Tel: 020 7678 8000",[],{"_key":38046,"_type":173,"children":38047,"markDefs":38051,"style":182},"37c051f7fc63",[38048],{"_key":38049,"_type":177,"marks":38050,"text":37467},"bb98f951d0130",[],[],{"_key":38053,"_type":173,"children":38054,"markDefs":38058,"style":14843},"262406854387",[38055],{"_key":38056,"_type":177,"marks":38057,"text":35515},"bbda7b2099ac0",[],[],{"_key":38060,"_type":173,"children":38061,"markDefs":38065,"style":182},"6abee0655002",[38062],{"_key":38063,"_type":177,"marks":38064,"text":12234},"68712b72890f0",[179],[],{"_key":38067,"_type":173,"children":38068,"markDefs":38072,"style":182},"b628a11b9c14",[38069],{"_key":38070,"_type":177,"marks":38071,"text":37700},"f5554329f588",[],[],{"_key":38074,"_type":173,"children":38075,"markDefs":38079,"style":182},"fe91dca75585",[38076],{"_key":38077,"_type":177,"marks":38078,"text":14764},"d9dc62fb10240",[179],[],{"_key":38081,"_type":173,"children":38082,"markDefs":38086,"style":182},"d517fba782ca",[38083],{"_key":38084,"_type":177,"marks":38085,"text":37270},"1b286832b644",[],[],{"_key":38088,"_type":173,"children":38089,"markDefs":38094,"style":182},"4b358530cdfd",[38090],{"_key":38091,"_type":177,"marks":38092,"text":38093},"97381b3236a20",[],"For the year ended 31 December 2007, Hunting Energy Services produced revenue of £314.5 million and profit from operations of £50.4 million.",[],{"_key":38096,"_type":173,"children":38097,"markDefs":38102,"style":182},"950b8bf345ab",[38098],{"_key":38099,"_type":177,"marks":38100,"text":38101},"39cf26fb5a280",[179],"About Gibson Energy",[],{"_key":38104,"_type":173,"children":38105,"markDefs":38110,"style":182},"a2ccbbfbad1b",[38106],{"_key":38107,"_type":177,"marks":38108,"text":38109},"525c9d258fc1",[],"Gibson Energy is a leader in the movement of oil and gas in Canada, offering transportation, marketing, processing and storage of hydrocarbons. Gibson Energy owns and operates 11 oil and 49 propane distribution terminals, a natural gas liquid fractionation plant for independent producers, 290 miles of pipelines, 3.4 million barrels of tank storage and operates a fleet of over 1,180 trailers moving over 205 million barrels of crude oil, gas and other energy products through its facilities annually. Gibson Energy also owns Moose Jaw Refinery, which processes approximately 3.9 million barrels of heavy crude each year.",[],{"_key":38112,"_type":173,"children":38113,"markDefs":38118,"style":182},"7841bf7cb1d2",[38114],{"_key":38115,"_type":177,"marks":38116,"text":38117},"d2ac8fa4d10e0",[],"For the year ended 31 December 2007, the Gibson Energy Group produced revenue of £1,550.8 million and profit from operations of £48.4 million.",[],{"_key":38120,"_type":173,"children":38121,"markDefs":38126,"style":182},"610f1d0588ea",[38122],{"_key":38123,"_type":177,"marks":38124,"text":38125},"09e6d9b310ad0",[],"Hunting PLC\n(\"Hunting\" or \"the Company\" or \"the Group\")\nProposed Disposal of Gibson Energy",[],{"_key":38128,"_type":173,"children":38129,"markDefs":38133,"style":14843},"2b79d56b4759",[38130],{"_key":38131,"_type":177,"marks":38132,"text":8174},"a72412dc14bf0",[],[],{"_key":38135,"_type":173,"children":38136,"markDefs":38141,"style":182},"226248b6646d",[38137],{"_key":38138,"_type":177,"marks":38139,"text":38140},"b633b92fe5fa0",[],"Hunting has entered into a conditional agreement to dispose of Gibson Energy to the Purchaser for a total consideration of CAN$1,270 million (approximately £626 million), subject to the Adjustments. The total consideration includes payment for the net working capital in the Gibson Energy Group as at Completion, which is estimated to be CAN$170 million (approximately £84 million).",[],{"_key":38143,"_type":173,"children":38144,"markDefs":38149,"style":182},"ce0ba08f20ed",[38145],{"_key":38146,"_type":177,"marks":38147,"text":38148},"8eea085fd4700",[],"The Purchaser has paid a deposit of CAN$100 million (approximately £49 million) and the balance of the total consideration is payable in cash on Completion, subject to the Adjustments and receipt of an appropriate tax certificate from the Minister of National Revenue in Canada.",[],{"_key":38151,"_type":173,"children":38152,"markDefs":38157,"style":182},"be4b18679734",[38153],{"_key":38154,"_type":177,"marks":38155,"text":38156},"69d6e9572f8a0",[],"Gibson Energy is focused on the movement of oil and gas in Canada, offering transportation, marketing, processing and storage of oil and gas and the Board believes the Proposed Disposal represents a compelling opportunity for the Company to crystallise value from this division. Following the Proposed Disposal, the Continuing Group will principally comprise Hunting Energy Services, a vertically integrated supplier of well construction and well completion equipment, exploration and production services and petrochemical equipment.",[],{"_key":38159,"_type":173,"children":38160,"markDefs":38165,"style":182},"9c9b7f4fbf6b",[38161],{"_key":38162,"_type":177,"marks":38163,"text":38164},"a563c5fe7e5f0",[],"Due to the size of the Proposed Disposal relative to the size of the Company, the Proposed Disposal constitutes a Class 1 transaction under the Listing Rules and as such Completion is conditional upon, amongst other things, the approval of Shareholders.",[],{"_key":38167,"_type":173,"children":38168,"markDefs":38173,"style":182},"4b2fa4da33ea",[38169],{"_key":38170,"_type":177,"marks":38171,"text":38172},"753f2df182260",[],"The Board is committed to growing its core operations in Hunting Energy Services. Accordingly, the Board expects that the net proceeds from the Disposal will be used to invest in Hunting Energy Services, make earnings enhancing acquisitions and to eliminate net borrowings. The Board remains committed to pursuing an efficient capital structure for the Group and will continue to review its strategy in this regard in the context of the available acquisition opportunities.",[],{"_key":38175,"_type":173,"children":38176,"markDefs":38181,"style":182},"53b8ab59d7bf",[38177],{"_key":38178,"_type":177,"marks":38179,"text":38180},"2689f77e4db80",[],"Pursuant to the Disposal Agreement, Completion is required to take place on the first business day of the calendar month immediately following the calendar month in which, amongst other things, the conditions to Completion are satisfied or waived. Completion of the Disposal is expected to take place on 1 October 2008.",[],{"_key":38183,"_type":173,"children":38184,"markDefs":38189,"style":14843},"82ee08ab6e9e",[38185],{"_key":38186,"_type":177,"marks":38187,"text":38188},"c06da48862730",[],"Background to, and reasons for, the Disposal",[],{"_key":38191,"_type":173,"children":38192,"markDefs":38197,"style":182},"a7b31b9ce455",[38193],{"_key":38194,"_type":177,"marks":38195,"text":38196},"e8abf57fd6bb0",[],"Following a thorough review of the Group's strategy, the Board concluded that there is limited strategic rationale for Hunting Energy Services and Gibson Energy being part of the same group. The Board concluded that the value of the Group does not fully reflect the aggregate value of the constituent parts of the Group and that significant shareholder value would be generated by disposing of Gibson Energy. Accordingly, the Board appointed advisers to manage a competitive process that has culminated in the Proposed Disposal.",[],{"_key":38199,"_type":173,"children":38200,"markDefs":38205,"style":182},"cb073bbb131e",[38201],{"_key":38202,"_type":177,"marks":38203,"text":38204},"32c2019dedfd0",[],"The Board believes that the consideration for Gibson Energy fairly reflects the prospects of Gibson Energy's business and that the Proposed Disposal will benefit both Hunting and its Shareholders by providing Hunting with the finance to continue to invest in and to take advantage of the opportunities within the Continuing Group's Hunting Energy Services division.",[],{"_key":38207,"_type":173,"children":38208,"markDefs":38213,"style":14843},"37ffb6eef16a",[38209],{"_key":38210,"_type":177,"marks":38211,"text":38212},"e53544e38a700",[],"Information on Gibson Energy",[],{"_key":38215,"_type":173,"children":38216,"markDefs":38221,"style":182},"3ecac8d84c33",[38217],{"_key":38218,"_type":177,"marks":38219,"text":38220},"d52f9c29ffbf0",[],"Gibson Energy is a leader in the movement of oil and gas in Canada, offering transportation, marketing processing and storage of hydro-carbons. Gibson Energy owns and operates 11 oil and 49 propane distribution terminals, a natural gas liquid fractionation plant for independent producers, 290 miles of pipelines, 3.4 million barrels of tank storage and operates a fleet of over 1,180 trailers moving over 205 million barrels of crude oil, gas and other energy products through its facilities annually. Gibson Energy also owns Moose Jaw Refinery, which processes approximately 3.9 million barrels of heavy crude each year.",[],{"_key":38223,"_type":173,"children":38224,"markDefs":38229,"style":182},"282641fbe5c4",[38225],{"_key":38226,"_type":177,"marks":38227,"text":38228},"f7923d5be09e0",[],"In the financial year ended 31 December 2007, the Gibson Energy Group generated profit from operations of £48.4 million on revenue of £1,550.8 million. The gross assets of the Gibson Energy Group, as at 31 December 2007 were £496.4 million.",[],{"_key":38231,"_type":173,"children":38232,"markDefs":38237,"style":182},"b2bd04abc917",[38233],{"_key":38234,"_type":177,"marks":38235,"text":38236},"b873db75329b0",[],"The numbers set out above have been extracted without material adjustment from the consolidation schedules which support the audited financial statements for the Hunting Group for the year ended 31 December 2007.",[],{"_key":38239,"_type":173,"children":38240,"markDefs":38245,"style":14843},"66ba4fb67656",[38241],{"_key":38242,"_type":177,"marks":38243,"text":38244},"fb064238d4030",[],"Information on the Purchaser",[],{"_key":38247,"_type":173,"children":38248,"markDefs":38253,"style":182},"7330e6c2c32e",[38249],{"_key":38250,"_type":177,"marks":38251,"text":38252},"d78ed4eed6ee0",[],"The Purchaser, 1413281 Alberta ULC, is a company formed for the purposes of the Disposal and ultimately owned by the Riverstone\u002FCarlyle Global Energy and Power Funds, a group of energy focused private equity funds managed by Riverstone. Riverstone is a New York-based energy and power focused private equity firm founded in 2000 with approximately US$14.8 billion under management. Riverstone conducts buyout and growth capital investments in the midstream, upstream, power, oilfield services and renewable sectors of the energy industry. To date, the firm has committed more than US$8.5 billion to more than 50 investments across these five sectors.",[],{"_key":38255,"_type":173,"children":38256,"markDefs":38261,"style":182},"22ffe7be36d9",[38257],{"_key":38258,"_type":177,"marks":38259,"text":38260},"529727877fd20",[],"Terry Gomke, the President and Chief Executive of Gibson Energy, is expected to have an ongoing role with Gibson Energy under the ownership of the Purchaser and has not, as a result, participated in the Board's recommendation of the Proposed Disposal. It is expected that the Gibson Energy management team led by Terry Gomke will be offered an equity participation in the Purchaser's investment structure. The amount of equity offered to the management team has yet to be agreed, however the Purchaser has confirmed that the level of the management team's participation will be such that they are not classified as a related party under the Listing Rules for the purposes of the Disposal.",[],{"_key":38263,"_type":173,"children":38264,"markDefs":38269,"style":14843},"e4dd95c9725e",[38265],{"_key":38266,"_type":177,"marks":38267,"text":38268},"d35eafa97ad50",[],"Principal terms and conditions of the Proposed Disposal",[],{"_key":38271,"_type":173,"children":38272,"markDefs":38277,"style":182},"f9170729884a",[38273],{"_key":38274,"_type":177,"marks":38275,"text":38276},"be5f948724940",[],"Under the terms of the Disposal Agreement, the total consideration for the Disposal is CAN$1,270 million (approximately £626 million), subject to the Adjustments. The total consideration includes payment for the net working capital in the Gibson Energy Group as at Completion, which is estimated to be CAN$170 million (approximately £84 million). The Purchaser has paid a deposit of CAN$100 million (approximately £49 million) and the balance of the total consideration is payable in cash on Completion, subject to the Adjustments and subject to the receipt of an appropriate tax certificate from the Minister of National Revenue in Canada at or prior to Completion. Should Hunting Energy Holdings not receive an appropriate tax certificate by such date, an amount equal to 25 per cent. of the purchase price (prior to the Adjustments) will be paid by the Purchaser to an escrow agent to hold in trust in an interest bearing account pending receipt of an appropriate tax certificate from the Minister of National Revenue in Canada.",[],{"_key":38279,"_type":173,"children":38280,"markDefs":38285,"style":182},"bc7f182393f8",[38281],{"_key":38282,"_type":177,"marks":38283,"text":38284},"dbd3c7ea66a70",[],"The Disposal Agreement contains certain representations, warranties and indemnities given by Hunting Energy Holdings to the Purchaser.",[],{"_key":38287,"_type":173,"children":38288,"markDefs":38293,"style":182},"ffe85bf9d940",[38289],{"_key":38290,"_type":177,"marks":38291,"text":38292},"457106eb6ba60",[],"The Proposed Disposal is conditional upon, inter alia, Hunting obtaining the approval of its Shareholders at the EGM, Canada Transportation Act Approval, Investment Canada Act Approval, Canadian Competition Clearance and any required waiting period under the Hart-Scott-Rodino anti-trust legislation in the United States having expired or having been terminated. Pursuant to the Disposal Agreement, Completion is required to take place on the first business day of the calendar month immediately following the calendar month in which, amongst other things, the conditions to Completion are satisfied or waived. Completion is expected to take place on 1 October 2008.",[],{"_key":38295,"_type":173,"children":38296,"markDefs":38301,"style":182},"690c9296696f",[38297],{"_key":38298,"_type":177,"marks":38299,"text":38300},"879e633139c00",[],"The Disposal Agreement may be terminated prior to Completion by Hunting Energy Holdings or the Purchaser in certain circumstances, including the following:",[],{"_key":38303,"_type":173,"children":38304,"level":955,"listItem":2555,"markDefs":38309,"style":182},"b695adea8421",[38305],{"_key":38306,"_type":177,"marks":38307,"text":38308},"fc38f0dbdec90",[],"by either Hunting Energy Holdings or the Purchaser if the Resolution is not approved by Shareholders at the EGM. In these circumstances, the deposit, together with all interest accrued thereon, would be returned to the Purchaser and in addition, Hunting Energy Holdings will be required to pay a break fee to the Purchaser of an amount equal to 1 per cent. of Hunting's market capitalisation (in US dollars) as at close of business on 5 August 2008, provided that the amount of such break fee shall not exceed US$30 million;",[],{"_key":38311,"_type":173,"children":38312,"level":955,"listItem":2555,"markDefs":38317,"style":182},"830c9259f44b",[38313],{"_key":38314,"_type":177,"marks":38315,"text":38316},"7661a64fb3ae0",[],"by Hunting Energy Holdings if, amongst other things, the Purchaser (i) breaches its representations and warranties or material covenants under the Disposal Agreement in any material respect and such breach is not remedied within a period of 30 days of notice; or (ii) is unwilling or unable to pay the balance of the purchase price on Completion. In these circumstances Hunting Energy Holdings would be paid the deposit together with all interest accrued thereon; and",[],{"_key":38319,"_type":173,"children":38320,"level":955,"listItem":2555,"markDefs":38325,"style":182},"789e65774620",[38321],{"_key":38322,"_type":177,"marks":38323,"text":38324},"1692358d558e0",[],"by the Purchaser if, amongst other things, (A) an event occurs or Hunting Energy Holdings breaches its representations and warranties under the Disposal Agreement, which event or breach would cause a reduction in the value of the shares of Gibson Energy in excess of 10 per cent. of the purchase price (except where this reduction is caused by certain events, such as global economic changes, various general changes affecting the industry in which the Gibson Energy Group operates or changes in applicable laws) as agreed between the parties or determined by an independent expert arbitrator (a \"Material Adverse Effect\"); or (B) Hunting or Hunting Energy Holdings breaches certain material covenants of the Disposal Agreement in any material respect in certain circumstances, and such breach is not remedied within a period of 30 days of notice. In these circumstances, the deposit, together with all interest accrued thereon, would be returned to the Purchaser, which would also be entitled to claim against Hunting Energy Holdings for damages for breach of contract.",[],{"_key":38327,"_type":173,"children":38328,"level":955,"listItem":2555,"markDefs":38333,"style":182},"f5b87955fedb",[38329],{"_key":38330,"_type":177,"marks":38331,"text":38332},"a285f35d961f0",[],"The Purchaser intends to fund the consideration for the Disposal through a combination of debt and equity financing. With respect to the Purchaser's debt financing, the Purchaser has secured a commitment letter from UBS Loan Finance LLC and UBS Securities, which have committed to provide or arrange such financing. The debt financing commitments are conditional upon the satisfaction of certain conditions, including there not having occurred a Material Adverse Effect since the date of the Disposal Agreement, the Purchaser having received a minimum level of equity financing and the Purchaser's direct holding parent company satisfying a prescribed debt to EBITDA ratio on the date of Completion, after giving effect to the Disposal.",[],{"_key":38335,"_type":173,"children":38336,"level":955,"listItem":2555,"markDefs":38341,"style":182},"049103bbb9af",[38337],{"_key":38338,"_type":177,"marks":38339,"text":38340},"be4a476b6ee50",[],"To the extent that the Purchaser is unable or unwilling to pay the consideration due on Completion, Hunting Energy Holdings would be entitled to the deposit, together with all interest accrued thereon, provided that Hunting Energy Holdings is not in material breach of its obligations under the terms and conditions of the Disposal Agreement.",[],{"_key":38343,"_type":173,"children":38344,"level":955,"listItem":2555,"markDefs":38349,"style":182},"e6161a09894e",[38345],{"_key":38346,"_type":177,"marks":38347,"text":38348},"40d391dd4f510",[],"In the period prior to Completion, Hunting Energy Holdings has agreed to provide such reasonable co-operation as may be reasonably requested by the Purchaser in connection with the syndication of the Purchaser's committed debt financing, provided that such co-operation does not unreasonably or materially interfere with or prejudice the operation of the businesses of the Gibson Energy Group. Such syndication is not a condition to the Purchaser's committed debt financing.",[],{"_key":38351,"_type":173,"children":38352,"markDefs":38357,"style":14843},"0bf0ac37c631",[38353],{"_key":38354,"_type":177,"marks":38355,"text":38356},"acdc5d6474690",[],"Financial effects of the Disposal",[],{"_key":38359,"_type":173,"children":38360,"markDefs":38365,"style":182},"15bc095eaeb1",[38361],{"_key":38362,"_type":177,"marks":38363,"text":38364},"85aeac2ffdb20",[],"The total consideration for the Disposal is CAN$1,270 million (approximately £626 million), subject to the Adjustments. The total consideration includes payment for the net working capital in the Gibson Energy Group as at Completion, which is estimated to be CAN$170 million (approximately £84 million). The net proceeds of the Disposal after expenses are expected to be CAN$1,223 million (approximately £602 million), subject to the Adjustments.",[],{"_key":38367,"_type":173,"children":38368,"markDefs":38373,"style":182},"64fa16257021",[38369],{"_key":38370,"_type":177,"marks":38371,"text":38372},"4f3ccfa602740",[],"The Board expects that Hunting will record a profit on Disposal of approximately £305 million in the current year. Taking into account the profit on Disposal, the Board expects the Proposed Disposal to be earnings enhancing for the Continuing Group, for the year ending 31 December 2008.",[],{"_key":38375,"_type":173,"children":38376,"markDefs":38381,"style":14843},"92b3cdc2b4c1",[38377],{"_key":38378,"_type":177,"marks":38379,"text":38380},"9712c4ed4a4b0",[],"Use of proceeds",[],{"_key":38383,"_type":173,"children":38384,"markDefs":38389,"style":182},"bfed4db5a07e",[38385],{"_key":38386,"_type":177,"marks":38387,"text":38388},"39b6be7bec3d0",[],"The Board expects that the net proceeds from the Disposal will be used to invest in Hunting Energy Services, make earnings enhancing acquisitions and to eliminate net borrowings. The Board remains committed to pursuing an efficient capital structure for the Group and will continue to review its strategy in this regard in the context of the available acquisition opportunities.",[],{"_key":38391,"_type":173,"children":38392,"markDefs":38397,"style":182},"6e7abcd18dfe",[38393],{"_key":38394,"_type":177,"marks":38395,"text":38396},"880a712237d80",[],"Subject to, inter alia, the above, it is the current intention of the Board to use approximately 24 per cent. of the net proceeds to eliminate net borrowings, with the remainder to be used to invest in Hunting Energy Services and to make earnings enhancing acquisitions.",[],{"_key":38399,"_type":173,"children":38400,"markDefs":38405,"style":14843},"0bac236120f1",[38401],{"_key":38402,"_type":177,"marks":38403,"text":38404},"ee955a074b730",[],"Information on the Continuing Group",[],{"_key":38407,"_type":173,"children":38408,"markDefs":38413,"style":182},"27e66467325f",[38409],{"_key":38410,"_type":177,"marks":38411,"text":38412},"b0c1d590585e0",[179],"Overview",[],{"_key":38415,"_type":173,"children":38416,"markDefs":38421,"style":182},"b32fd36d97db",[38417],{"_key":38418,"_type":177,"marks":38419,"text":38420},"dad5cc5344180",[],"Following Completion, the Continuing Group's operations will be focused on the Hunting Energy Services division, the vertically integrated supplier of well construction and well completion equipment, exploration and production services and petrochemical equipment. The Continuing Group also has other divisions including shipbroking and aircraft maintenance. The Continuing Group employs approximately 2,050 people and is headquartered in London, England.",[],{"_key":38423,"_type":173,"children":38424,"markDefs":38429,"style":182},"df7274aa1951",[38425],{"_key":38426,"_type":177,"marks":38427,"text":38428},"0d4e040a54fd0",[],"Hunting Energy Services has operations in 30 locations across North America, Europe and Asia and has been the fastest growing division of the Group, recording 57 per cent. compounded annual growth in profit from operations over the last five years. As at 31 December 2007, the division had 1,476 employees under four business platforms: well construction, well completion, exploration and production and Hunting Energy France, a provider of petrochemical equipment.",[],{"_key":38431,"_type":173,"children":38432,"markDefs":38437,"style":182},"91d96b0aa3bd",[38433],{"_key":38434,"_type":177,"marks":38435,"text":38436},"002d9ad076220",[],"The well construction platform provides manufactured products and engineering expertise and services used in the drilling phase of oil and gas wells along with associated trenchless boring applications used by the underground construction industry for telecommunication infrastructure build out. Products within the division include mud motors and non-magnetic drill collars and premium connections for oil country tubular goods. Products are processed and\u002For manufactured at Hunting Energy Services' facilities that are strategically located throughout the world.",[],{"_key":38439,"_type":173,"children":38440,"markDefs":38445,"style":182},"84829da6b284",[38441],{"_key":38442,"_type":177,"marks":38443,"text":38444},"7f837b635e450",[],"The well completion platform provides manufactured products, proprietary technology and engineering services for the completion and intervention phases of oil and gas wells. Manufactured products include accessories and completion equipment for oil and gas wells, including speciality threading, oil country tubular goods casing and thread protectors, well intervention down hole tools, pressure control equipment and coiled tubing tools. In the year ended 31 December 2007, the platform reported record revenues and profits driven by new technologies, additional capacity and higher margins.",[],{"_key":38447,"_type":173,"children":38448,"markDefs":38453,"style":182},"8fcfe3a2f5d2",[38449],{"_key":38450,"_type":177,"marks":38451,"text":38452},"0d21de1871a60",[],"The exploration and production platform includes oil and gas exploration and production activities in the Southern US and offshore Gulf of Mexico. The platform is based in Texas and has minority non-operating equity holdings in over 80 oil and gas production facilities. The platform also provides products and services to operators. In the year ended 31 December 2007, the platform participated in the drilling of 16 wells, with eight successes - five in gas, two in oil and one in oil and gas. Full year output was 457,449 net equivalent barrels in 2007 compared to 380,628 net equivalent barrels in 2006 as a result of higher natural gas production from new wells.",[],{"_key":38455,"_type":173,"children":38456,"markDefs":38460,"style":182},"8a9ad4b58854",[38457],{"_key":38458,"_type":177,"marks":38459,"text":35546},"68da71490b580",[],[],{"_key":38462,"_type":173,"children":38463,"markDefs":38468,"style":182},"f8e623edaaec",[38464],{"_key":38465,"_type":177,"marks":38466,"text":38467},"bf5cd8bdfc930",[],"A summary of the trading results of Hunting Energy Services for the three years ended 31 December 2007 is set out below.",[],{"_key":38470,"_type":173,"children":38471,"markDefs":38475,"style":182},"2eea4b75e51c",[38472],{"_key":38473,"_type":177,"marks":38474,"text":180},"556b2052ac29",[],[],{"_key":38477,"_type":146,"asset":38478},"a77136a0b396",{"_ref":38479,"_type":141},"image-6e203d935622d3960462a20e2ceb32fa23b0fdd2-949x866-jpg",{"_key":38481,"_type":173,"children":38482,"markDefs":38487,"style":182},"6b634b54e058",[38483],{"_key":38484,"_type":177,"marks":38485,"text":38486},"4447900836030",[],"Source: Revenue and profit from operations have been extracted, without material adjustment, from Hunting's audited accounts for the years ended 31 December 2005, 2006 and 2007, subject to the notes below.",[],{"_key":38489,"_type":173,"children":38490,"markDefs":38495,"style":182},"18562fafe637",[38491],{"_key":38492,"_type":177,"marks":38493,"text":38494},"79a482c1793b0",[],"Note: The results of Hunting Energy France were originally consolidated within Hunting's other operating divisions for the year ended 31 December 2005. However, for consistency with Hunting's reported results for the years ended 31 December 2006 and 2007, the results for Hunting Energy France have been separately disclosed above for the year ended 31 December 2005 within Hunting Energy Services. All figures have been extracted without material adjustment from consolidation schedules which support the audited financial statements.",[],{"_key":38497,"_type":173,"children":38498,"markDefs":38503,"style":182},"dba4c7424f8b",[38499],{"_key":38500,"_type":177,"marks":38501,"text":38502},"212cec0de4f70",[],"Note: The results of Hunting Specialized Products were originally consolidated within Hunting's other operating divisions for the year ended 31 December 2005 and have been extracted without material adjustment from consolidation schedules which support the audited financial statements. Subsequently, for the years ended 31 December 2006 and 2007, the results of Hunting Specialized Products were consolidated within Hunting's well completion segment within Hunting Energy Services. For consistency with Hunting's reported results for the years ended 31 December 2006 and 2007, the results for Hunting Specialized Products have been consolidated within Hunting's well completion segment for the year ended 31 December 2005. All figures have been extracted without material adjustment from consolidation schedules which support the audited financial statements.",[],{"_key":38505,"_type":173,"children":38506,"markDefs":38511,"style":14843},"915f1d244064",[38507],{"_key":38508,"_type":177,"marks":38509,"text":38510},"aa079d87c55c0",[],"Other operating divisions",[],{"_key":38513,"_type":173,"children":38514,"markDefs":38519,"style":182},"cab7055335ad",[38515],{"_key":38516,"_type":177,"marks":38517,"text":38518},"43cd750f9d850",[],"Gibson Shipbrokers is an international London based shipbroker primarily engaged in the transportation of crude oil and other liquefied natural and petroleum gas, as well as providing sale and purchase, offshore, dry cargo and related shipping services. In addition, Gibson Shipbrokers has a research consultancy providing market and technical analysis and a speciality product brokerage, primarily in liquefied petroleum gas, with offices in London and Asia. Challenging trading conditions in 2007 were offset by improved results from gas and specialised tankers. Further expansion for Gibson Shipbrokers is planned during 2008 to take advantage of identified opportunities.",[],{"_key":38521,"_type":173,"children":38522,"markDefs":38527,"style":182},"ee0aa84008cc",[38523],{"_key":38524,"_type":177,"marks":38525,"text":38526},"0be8387736260",[],"Field Aviation Canada modifies, repairs and overhauls regional aircraft for international customers from facilities in Canada.",[],{"_key":38529,"_type":173,"children":38530,"markDefs":38535,"style":182},"5d206a0c8ff3",[38531],{"_key":38532,"_type":177,"marks":38533,"text":38534},"1e76dddedb160",[],"A summary of the trading results of Hunting's other operating divisions for the three years ended 31 December 2007 is set out below.",[],{"_key":38537,"_type":173,"children":38538,"markDefs":38542,"style":182},"5a4ed78de0d5",[38539],{"_key":38540,"_type":177,"marks":38541,"text":180},"0853edf029e0",[],[],{"_key":38544,"_type":146,"asset":38545},"f4d139a602f1",{"_ref":38546,"_type":141},"image-93625f046146d83aaedb8faf776c102dab7d36d0-944x209-jpg",{"_key":38548,"_type":173,"children":38549,"markDefs":38553,"style":182},"46cc81520380",[38550],{"_key":38551,"_type":177,"marks":38552,"text":38486},"db46fe9125d80",[],[],{"_key":38555,"_type":173,"children":38556,"markDefs":38561,"style":182},"3e3275fb24aa",[38557],{"_key":38558,"_type":177,"marks":38559,"text":38560},"f1ec820910720",[],"Note: The results of Hunting Energy France were originally consolidated within Hunting's other operating divisions for the year ended 31 December 2005. However, for consistency with Hunting's reported results for the years ended 31 December 2006 and 2007, the results for Hunting Energy France have been separately disclosed for the year ended 31 December 2005 within Hunting Energy Services. All figures have been extracted without material adjustment from consolidation schedules which support the audited financial statements.",[],{"_key":38563,"_type":173,"children":38564,"markDefs":38568,"style":182},"bd608c9ee66b",[38565],{"_key":38566,"_type":177,"marks":38567,"text":38502},"67ea3a1473990",[],[],{"_key":38570,"_type":173,"children":38571,"markDefs":38576,"style":14843},"a334cee1cdb8",[38572],{"_key":38573,"_type":177,"marks":38574,"text":38575},"ce4b6c98c71d0",[],"Hunting's future strategy",[],{"_key":38578,"_type":173,"children":38579,"markDefs":38584,"style":182},"ca9b5160c480",[38580],{"_key":38581,"_type":177,"marks":38582,"text":38583},"63227214f6e90",[],"Following Completion, Hunting will continue to be focused on North America but with an increasing contribution expected from the international arena. Energy and the demand for it continues to dominate global macro economic issues. Drilling for oil and natural gas in the United States reached a 22 year high in 2007, while producers expanded their search for new reserves in the onshore basins and the Gulf of Mexico. Although the rig count declined in Canada, primarily as a result of lower gas prices and higher costs for shallow well exploration and production, demand has continued for the more complex, technology driven, deeper applications on which Hunting focuses. Internationally, there has been continued expansion due to commodity price increases. These favourable market conditions have historically enabled significant margin improvement from price increases, equipment utilisation and manpower efficiencies for Hunting.",[],{"_key":38586,"_type":173,"children":38587,"markDefs":38592,"style":182},"97179738750f",[38588],{"_key":38589,"_type":177,"marks":38590,"text":38591},"b133934a67b00",[],"As a result of these demand factors, exploration budgets for oil and gas companies worldwide are expected to increase by 20 per cent. in 2008, supporting further growth for Hunting's products and services. At current commodity price levels, oil and gas producers are again increasing their investment to boost reserves and production capabilities. The 20 per cent. investment growth will place additional pressure on the existing and over stretched manpower resources and hence is expected to continue to provide excellent growth opportunities for the oil service industry. Accordingly, the Company sees heightened activity levels for the foreseeable future.",[],{"_key":38594,"_type":173,"children":38595,"markDefs":38600,"style":182},"576cb15d352b",[38596],{"_key":38597,"_type":177,"marks":38598,"text":38599},"615cbf33dc210",[],"Following Completion, Hunting's ongoing strategy will be focused on taking advantage of the following opportunities for growth:",[],{"_key":38602,"_type":173,"children":38603,"level":955,"listItem":2555,"markDefs":38608,"style":182},"841a202cf01f",[38604],{"_key":38605,"_type":177,"marks":38606,"text":38607},"d00ce8edaa880",[],"Organic growth in core markets - Hunting will develop its markets organically through investment in new product development on a global basis, including the use of titanium in well completion tubing and growth in technology above the wellhead in addition to continued investment in recruiting and retaining highly skilled employees. Building on strong positions globally, these new products will be channelled to new and existing customers; and",[],{"_key":38610,"_type":173,"children":38611,"level":955,"listItem":2555,"markDefs":38616,"style":182},"0ea097ce69d3",[38612],{"_key":38613,"_type":177,"marks":38614,"text":38615},"bff6e130a23f0",[],"Acquisitions - Hunting will continue its positive and proactive acquisition policy identifying companies that can potentially be acquired to provide new technologies, develop local footprints in key markets and complement existing activities.",[],{"_key":38618,"_type":173,"children":38619,"markDefs":38624,"style":182},"6047102a3b94",[38620],{"_key":38621,"_type":177,"marks":38622,"text":38623},"b946be8b29930",[],"A key objective for all of Hunting's activities will be to continue to increase the overall exposure of the Continuing Group's activities to Europe, Asia and in particular China and other developing geographic regions.",[],{"_key":38626,"_type":173,"children":38627,"markDefs":38632,"style":14843},"93adc9feae4b",[38628],{"_key":38629,"_type":177,"marks":38630,"text":38631},"be240c4085ab0",[],"Current trading and prospects for the Continuing Group",[],{"_key":38634,"_type":173,"children":38635,"markDefs":38640,"style":182},"5651484de7e0",[38636],{"_key":38637,"_type":177,"marks":38638,"text":38639},"7fe585be44e40",[],"The Board's view of the current trading and prospects for the Continuing Group remains in line with the statement made on 1 July 2008, extracts (without material adjustment) of which are set out below:",[],{"_key":38642,"_type":173,"children":38643,"markDefs":38648,"style":182},"2224def9f70f",[38644],{"_key":38645,"_type":177,"marks":38646,"text":38647},"ed766ed32d790",[],"\"Trading conditions continue to be robust. The Board remains confident on the outlook for the year as performance is in line with internal expectations.",[],{"_key":38650,"_type":173,"children":38651,"markDefs":38656,"style":182},"ca9ad59c6591",[38652],{"_key":38653,"_type":177,"marks":38654,"text":38655},"645abf6bd0e60",[],"Energy, and the demand for it, continues to dominate the media, political agendas and public awareness. The result is a continuing challenge for the oil and gas industry to provide increased production from worldwide exploration with assistance from a capacity constrained service industry. Therefore, Hunting's strategically located assets in the Canadian tar sands and the global drilling arena continue to see excellent growth opportunities.",[],{"_key":38658,"_type":173,"children":38659,"markDefs":38664,"style":182},"e847fa7ef528",[38660],{"_key":38661,"_type":177,"marks":38662,"text":38663},"2eda9dcc8ab10",[],"In Hunting Energy Services, all 14 global facilities have seen an improvement over the prior period. Exploration and production spending forecasts have risen from an 11 per cent. increase over 2007 to 20 per cent. Order books remain strong, especially in the North Sea, Asia and the United States. Expectations are for a strong second half in upstream activity due to new rigs being delivered and the increase in natural gas drilling in Canada and the United States. Expansion plans developed late last year should also benefit the division primarily in well completion. Exploration and production activities are strong due to the increase in oil and gas prices.",[],{"_key":38666,"_type":173,"children":38667,"markDefs":38672,"style":182},"8c6046b48c8a",[38668],{"_key":38669,"_type":177,"marks":38670,"text":38671},"5f76dc797cd40",[],"Capital expenditure will once again exceed prior year levels as customer demand is providing new opportunities.",[],{"_key":38674,"_type":173,"children":38675,"markDefs":38680,"style":182},"60bc0a32d481",[38676],{"_key":38677,"_type":177,"marks":38678,"text":38679},"ab2a8b7a7d2e0",[],"Hunting's Half-Year Results for the six months to 30 June 2008 are expected to be announced on Thursday 28 August 2008.\"",[],{"_key":38682,"_type":173,"children":38683,"markDefs":38688,"style":182},"c0fe23a89174",[38684],{"_key":38685,"_type":177,"marks":38686,"text":38687},"45737ce0aadc0",[],"Current trading and prospects for Gibson Energy",[],{"_key":38690,"_type":173,"children":38691,"markDefs":38696,"style":182},"9aeb7040d168",[38692],{"_key":38693,"_type":177,"marks":38694,"text":38695},"e599c31f1b550",[],"The Board's view of the current trading and prospects of Gibson Energy remains in line with the statement made on 1 July 2008, extracts (without material adjustment) of which are set out below:",[],{"_key":38698,"_type":173,"children":38699,"markDefs":38704,"style":182},"2c9bbf02d6d2",[38700],{"_key":38701,"_type":177,"marks":38702,"text":38703},"d68d4d0aed880",[],"\"In Gibson Energy, the Truck Transportation division has experienced strong demand as a result of the high levels of heavy oil project activity in Canada. The recent acquisition of Chief Hauling for approximately £7.4m will add additional capacity to the fleet especially in sulphur hauling. With the increasing price of crude, the Marketing division has benefited from the volatility and has captured further gains at its Edmonton North facility. Terminals and Pipelines have seen a continuation of excellent results due to increased volumes and rates. Due to higher feed stock prices, Moose Jaw is behind expectations but should see improvement as the year progresses. Canwest Propane is performing to expectations.\"",[],{"_key":38706,"_type":173,"children":38707,"markDefs":38712,"style":14843},"e9627aba8fec",[38708],{"_key":38709,"_type":177,"marks":38710,"text":38711},"dc7257ca6aff0",[],"Circular to Shareholders",[],{"_key":38714,"_type":173,"children":38715,"markDefs":38720,"style":182},"34e86656ab79",[38716],{"_key":38717,"_type":177,"marks":38718,"text":38719},"eb953f5ee3480",[],"The Circular containing the Board's recommendation (other than in relation to Terry Gomke for the reasons described above) that Shareholders vote in favour of the Resolution and a notice convening the Extraordinary General Meeting will be posted to Shareholders later today.",[],{"_key":38722,"_type":173,"children":38723,"markDefs":38728,"style":14843},"7a9a62d54916",[38724],{"_key":38725,"_type":177,"marks":38726,"text":38727},"0f4bc2f6349a0",[],"DEFINITIONS",[],{"_key":38730,"_type":173,"children":38731,"markDefs":38736,"style":182},"ff43777a4d40",[38732],{"_key":38733,"_type":177,"marks":38734,"text":38735},"c89b3b3797cf0",[],"The following definitions apply throughout this announcement:",[],{"_key":38738,"_type":173,"children":38739,"markDefs":38748,"style":182},"ab595f7b5cd2",[38740,38744],{"_key":38741,"_type":177,"marks":38742,"text":38743},"4749cfdba2390",[179],"\"Adjustments\"",{"_key":38745,"_type":177,"marks":38746,"text":38747},"bacd092e214a",[],"\nthe adjustments to the purchase price of Gibson Energy to be made pursuant to the Disposal Agreement and relating to the amounts of net working capital, bank debt, cash and intercompany debt in the Gibson Energy Group at Completion;",[],{"_key":38750,"_type":173,"children":38751,"markDefs":38760,"style":182},"e602ed7b8ad4",[38752,38756],{"_key":38753,"_type":177,"marks":38754,"text":38755},"6a8e086dcddd0",[179],"\"Board\" or \"Directors\"",{"_key":38757,"_type":177,"marks":38758,"text":38759},"68201832e5d0",[],"\nthe board of directors of Hunting;",[],{"_key":38762,"_type":173,"children":38763,"markDefs":38772,"style":182},"5c467419a39e",[38764,38768],{"_key":38765,"_type":177,"marks":38766,"text":38767},"9ff254949ecf0",[179],"\"CAN$\"",{"_key":38769,"_type":177,"marks":38770,"text":38771},"665fe79704ca",[],"\nCanadian dollar;",[],{"_key":38774,"_type":173,"children":38775,"markDefs":38784,"style":182},"cc545488669f",[38776,38780],{"_key":38777,"_type":177,"marks":38778,"text":38779},"7777cd33803c0",[179],"\"Canadian Competition Clearance\"",{"_key":38781,"_type":177,"marks":38782,"text":38783},"4a7ff9a61c0b",[],"\nclearance to be obtained in connection with the Proposed Disposal from the Canadian Competition Bureau under the Canadian Competition Act;",[],{"_key":38786,"_type":173,"children":38787,"markDefs":38796,"style":182},"da43b8b42dd8",[38788,38792],{"_key":38789,"_type":177,"marks":38790,"text":38791},"8a12ffb9b8ff0",[179],"\"Circular\"\n",{"_key":38793,"_type":177,"marks":38794,"text":38795},"0ff4b6f0e111",[],"the Circular containing details of the Proposed Disposal;",[],{"_key":38798,"_type":173,"children":38799,"markDefs":38808,"style":182},"a27bc3b60c92",[38800,38804],{"_key":38801,"_type":177,"marks":38802,"text":38803},"a6b45e2372670",[179],"\"Completion\"\n",{"_key":38805,"_type":177,"marks":38806,"text":38807},"99678a4018c6",[],"completion of the Proposed Disposal in accordance with the terms of the Disposal Agreement;",[],{"_key":38810,"_type":173,"children":38811,"markDefs":38820,"style":182},"d994eafb70a4",[38812,38816],{"_key":38813,"_type":177,"marks":38814,"text":38815},"fe9fccd3000c0",[179],"\"Continuing Group\"\n",{"_key":38817,"_type":177,"marks":38818,"text":38819},"e51e8a76e853",[],"the Hunting Group following Completion;",[],{"_key":38822,"_type":173,"children":38823,"markDefs":38832,"style":182},"fd74b3d23537",[38824,38828],{"_key":38825,"_type":177,"marks":38826,"text":38827},"abf59463f6000",[179],"\"Disposal\" or \"Proposed Disposal\"\n",{"_key":38829,"_type":177,"marks":38830,"text":38831},"50aef7a0a0d5",[],"the proposed disposal of Gibson Energy pursuant to the Disposal Agreement;",[],{"_key":38834,"_type":173,"children":38835,"markDefs":38844,"style":182},"2c482430c098",[38836,38840],{"_key":38837,"_type":177,"marks":38838,"text":38839},"0f67445308ca0",[179],"\"Disposal Agreement\"\n",{"_key":38841,"_type":177,"marks":38842,"text":38843},"47b4518fa18c",[],"the conditional sale and purchase agreement relating to the Disposal dated 5 August 2008 between Hunting, Hunting Energy Holdings Limited and the Purchaser;",[],{"_key":38846,"_type":173,"children":38847,"markDefs":38856,"style":182},"0b52da67b9b0",[38848,38852],{"_key":38849,"_type":177,"marks":38850,"text":38851},"1fb68551aa5b0",[179],"\"EBITDA\"\n",{"_key":38853,"_type":177,"marks":38854,"text":38855},"133788b0e09d",[],"earnings before interest, tax, depreciation and amortisation;",[],{"_key":38858,"_type":173,"children":38859,"markDefs":38868,"style":182},"3d7281a64f7c",[38860,38864],{"_key":38861,"_type":177,"marks":38862,"text":38863},"fec32de22b370",[179],"\"EGM\" or \"Extraordinary General Meeting\"\n",{"_key":38865,"_type":177,"marks":38866,"text":38867},"fe4a8561d264",[],"the general meeting of Hunting in relation to the Proposed Disposal to be held at the offices of CMS Cameron McKenna LLP, Mitre House, 160 Aldersgate Street, London EC1A 4DD at 10.00a.m. on 26 August 2008, notice of which will be set out at the end of the Circular (or any adjournment of such meeting);",[],{"_key":38870,"_type":173,"children":38871,"markDefs":38880,"style":182},"db47b0ae1748",[38872,38876],{"_key":38873,"_type":177,"marks":38874,"text":38875},"50bc809ee8b20",[179],"\"Financial Services Authority\"\n",{"_key":38877,"_type":177,"marks":38878,"text":38879},"1b3563221fd3",[],"the Financial Services Authority of the United Kingdom;",[],{"_key":38882,"_type":173,"children":38883,"markDefs":38892,"style":182},"b07a7ad84c3f",[38884,38888],{"_key":38885,"_type":177,"marks":38886,"text":38887},"4cd96ee4c1a40",[179],"\"FSMA\"\n",{"_key":38889,"_type":177,"marks":38890,"text":38891},"73b62d684fe6",[],"the Financial Services and Markets Act 2000 (as amended);",[],{"_key":38894,"_type":173,"children":38895,"markDefs":38904,"style":182},"a620a71822f1",[38896,38900],{"_key":38897,"_type":177,"marks":38898,"text":38899},"d47ca2f4476a0",[179],"\"Gibson Energy\"\n",{"_key":38901,"_type":177,"marks":38902,"text":38903},"a5583b6d96fb",[],"Gibson Energy Holdings Inc.;",[],{"_key":38906,"_type":173,"children":38907,"markDefs":38916,"style":182},"cd1392d0137f",[38908,38912],{"_key":38909,"_type":177,"marks":38910,"text":38911},"586fdb3fe4400",[179],"\"Gibson Energy Group\"\n",{"_key":38913,"_type":177,"marks":38914,"text":38915},"522cd84a94c4",[],"Gibson Energy and its subsidiaries and subsidiary undertakings;",[],{"_key":38918,"_type":173,"children":38919,"markDefs":38928,"style":182},"bc4f7fe79a50",[38920,38924],{"_key":38921,"_type":177,"marks":38922,"text":38923},"1b899e32fd660",[179],"\"Hunting\" or \"Company\"\n",{"_key":38925,"_type":177,"marks":38926,"text":38927},"14ec61fa4562",[],"Hunting PLC;",[],{"_key":38930,"_type":173,"children":38931,"markDefs":38944,"style":182},"8aa4d86d6d71",[38932,38936,38940],{"_key":38933,"_type":177,"marks":38934,"text":38935},"571c0bc1018a0",[],"\"",{"_key":38937,"_type":177,"marks":38938,"text":38939},"455315987381",[179],"Hunting Energy Holdings\"\n",{"_key":38941,"_type":177,"marks":38942,"text":38943},"da0cfd406b63",[],"Hunting Energy Holdings Limited, the sole shareholder of Gibson Energy and the vendor under the Disposal Agreement;",[],{"_key":38946,"_type":173,"children":38947,"markDefs":38956,"style":182},"cf11622c726a",[38948,38952],{"_key":38949,"_type":177,"marks":38950,"text":38951},"ff35a771a6640",[179],"\"Hunting Group\" or \"Group\"\n",{"_key":38953,"_type":177,"marks":38954,"text":38955},"081c1b1862e9",[],"Hunting and its subsidiaries and subsidiary undertakings;",[],{"_key":38958,"_type":173,"children":38959,"markDefs":38968,"style":182},"92b237874177",[38960,38964],{"_key":38961,"_type":177,"marks":38962,"text":38963},"3669e871e8fc0",[179],"\"Investment Canada Act Approval\"\n",{"_key":38965,"_type":177,"marks":38966,"text":38967},"ba1e89586a96",[],"approval to be sought by the Purchaser under the Investment Canada Act in connection with the Proposed Disposal;",[],{"_key":38970,"_type":173,"children":38971,"markDefs":38980,"style":182},"6a87155a4ea6",[38972,38976],{"_key":38973,"_type":177,"marks":38974,"text":38975},"462c45e373c90",[179],"\"Listing Rules\"\n",{"_key":38977,"_type":177,"marks":38978,"text":38979},"79c0bc016a95",[],"the listing rules made by the UKLA under FSMA;",[],{"_key":38982,"_type":173,"children":38983,"markDefs":38992,"style":182},"c813ec0a787e",[38984,38988],{"_key":38985,"_type":177,"marks":38986,"text":38987},"b2d0861ea7610",[179],"\"Purchaser\"\n",{"_key":38989,"_type":177,"marks":38990,"text":38991},"6d1d8a251178",[],"1413281 Alberta ULC, a company formed for the purposes of the Disposal and ultimately owned by the Riverstone\u002FCarlyle Global Energy and Power Funds, a group of energy focused private equity funds managed by Riverstone;",[],{"_key":38994,"_type":173,"children":38995,"markDefs":39004,"style":182},"130e4b2e9916",[38996,39000],{"_key":38997,"_type":177,"marks":38998,"text":38999},"0fe0f408f7e00",[179],"\"Resolution\"\n",{"_key":39001,"_type":177,"marks":39002,"text":39003},"5ab48ccff6fa",[],"the ordinary resolution relating to the Disposal to be set out in the notice of the EGM to be contained at the end of the Circular;",[],{"_key":39006,"_type":173,"children":39007,"markDefs":39016,"style":182},"fd7ff4a78e24",[39008,39012],{"_key":39009,"_type":177,"marks":39010,"text":39011},"2a269a9e5bb10",[179],"\"Riverstone\"\n",{"_key":39013,"_type":177,"marks":39014,"text":39015},"d2240356af54",[],"Riverstone Holdings LLC;",[],{"_key":39018,"_type":173,"children":39019,"markDefs":39028,"style":182},"4808a7872abf",[39020,39024],{"_key":39021,"_type":177,"marks":39022,"text":39023},"c91752e8f8100",[179],"\"Shareholders\"\n",{"_key":39025,"_type":177,"marks":39026,"text":39027},"fbafa5b81e09",[],"holders of Shares;",[],{"_key":39030,"_type":173,"children":39031,"markDefs":39040,"style":182},"89f8fcd3bac9",[39032,39036],{"_key":39033,"_type":177,"marks":39034,"text":39035},"d89e162d05850",[179],"\"Shares\"\n",{"_key":39037,"_type":177,"marks":39038,"text":39039},"ce680e6f90b9",[],"the existing issued and fully paid ordinary shares of 25 pence each in the share capital of Hunting and \"Share\" means any of them;",[],{"_key":39042,"_type":173,"children":39043,"markDefs":39052,"style":182},"d5b3ee991318",[39044,39048],{"_key":39045,"_type":177,"marks":39046,"text":39047},"59d7fb1e17cf0",[179],"\"subsidiary\"\n",{"_key":39049,"_type":177,"marks":39050,"text":39051},"ce7f479b6519",[],"has the meaning ascribed to it in sections 1159 and 1162 of the Companies Act 2006;",[],{"_key":39054,"_type":173,"children":39055,"markDefs":39064,"style":182},"0ec235bcba58",[39056,39060],{"_key":39057,"_type":177,"marks":39058,"text":39059},"0666006ba5740",[179],"\"subsidiary undertaking\"\n",{"_key":39061,"_type":177,"marks":39062,"text":39063},"98498aaac24d",[],"has the meaning ascribed to it in sections 1161, 1162 and Schedule 7 of the Companies Act 2006; and",[],{"_key":39066,"_type":173,"children":39067,"markDefs":39076,"style":182},"4f88492393d1",[39068,39072],{"_key":39069,"_type":177,"marks":39070,"text":39071},"b0bff15ceede0",[179],"\"UKLA\"\n",{"_key":39073,"_type":177,"marks":39074,"text":39075},"b819297c8fb5",[],"the Financial Services Authority acting in its capacity as the\ncompetent authority for the purposes of Part VI of the FSMA.",[],[39078],{"_key":35685,"_ref":1713,"_type":141},"Hunting PLC (LSE:HTG), the international energy services group, announces the Proposed Disposal of Gibson Energy, its midstream oil and gas group based in Alberta, Canada, to 1413281 Alberta ULC, a",{"_type":9,"current":39081},"06-08-2008",[39083],{"_key":35692,"_ref":7180,"_type":141},"\u002Fnews\u002F06-08-2008",{"_createdAt":39086,"_id":39087,"_rev":12752,"_type":168,"_updatedAt":116,"body":39088,"categories":39181,"introText":39103,"publishedAt":39184,"slug":39185,"tags":39187,"title":39192,"url":39193},"2023-02-21T10:49:40Z","faed850c-3d75-488f-9c2b-96965979e6ff",[39089,39097,39105,39112,39120,39128,39136,39144,39152,39159,39166,39173],{"_key":39090,"_type":173,"children":39091,"markDefs":39096,"style":182},"82e444edf40a",[39092],{"_key":39093,"_type":177,"marks":39094,"text":39095},"3126f88daa3f0",[],"Hunting PLC (\"Hunting\" or \"the Company\")\nTrading Update",[],{"_key":39098,"_type":173,"children":39099,"markDefs":39104,"style":182},"e1afc592e043",[39100],{"_key":39101,"_type":177,"marks":39102,"text":39103},"565bd0135dfb0",[],"Trading conditions continue to be robust. The Board remains confident on the outlook for the year as performance is in line with internal expectations.",[],{"_key":39106,"_type":173,"children":39107,"markDefs":39111,"style":182},"961f7799229f",[39108],{"_key":39109,"_type":177,"marks":39110,"text":35599},"f0cf9bab807d0",[],[],{"_key":39113,"_type":173,"children":39114,"markDefs":39119,"style":182},"45567953ef17",[39115],{"_key":39116,"_type":177,"marks":39117,"text":39118},"2bf4ca702b2d0",[],"\"Energy, and the demand for it, continues to dominate the media, political agendas and public awareness. The result is a continuing challenge for the oil and gas industry to provide increased production from worldwide exploration with assistance from a capacity constrained service industry. Therefore, Hunting's strategically located assets in the Canadian tar sands and the global drilling arena continue to see excellent growth opportunities.",[],{"_key":39121,"_type":173,"children":39122,"markDefs":39127,"style":182},"a25acfd8a884",[39123],{"_key":39124,"_type":177,"marks":39125,"text":39126},"bed33d8892ce0",[],"In Gibson Energy, the Truck Transportation division has experienced strong demand as a result of the high levels of heavy oil project activity in Canada. The recent acquisition of Chief Hauling for approximately £7.4m will add additional capacity to the fleet especially in sulphur hauling. With the increasing price of crude, the Marketing division has benefited from the volatility and has captured further gains at its Edmonton North facility. Terminals and Pipelines have seen a continuation of excellent results due to increased volumes and rates. Due to higher feed stock prices, Moose Jaw is behind expectations but should see improvement as the year progresses. Canwest Propane is performing to expectations.",[],{"_key":39129,"_type":173,"children":39130,"markDefs":39135,"style":182},"3f0a69bdf5b2",[39131],{"_key":39132,"_type":177,"marks":39133,"text":39134},"caa39a23aaa80",[],"In Hunting Energy, all 14 global facilities have seen improvement over the prior period. Exploration and production spending forecasts have risen from an 11% increase over 2007 to 20%. Order books remain strong, especially in the North Sea, Asia and the United States. Expectations are for a strong second half in upstream activity due to new rigs being delivered and the increase in natural gas drilling in Canada and the United States. Expansion plans developed late last year should also benefit the division primarily in well completion. Exploration and production activities are strong due to the increase in oil and gas prices.",[],{"_key":39137,"_type":173,"children":39138,"markDefs":39143,"style":182},"ab2e61d8d494",[39139],{"_key":39140,"_type":177,"marks":39141,"text":39142},"0d45b5536c930",[],"Capital expenditure will once again exceed prior year levels as customer demand is providing new opportunities.\"",[],{"_key":39145,"_type":173,"children":39146,"markDefs":39151,"style":182},"f7c815a82e94",[39147],{"_key":39148,"_type":177,"marks":39149,"text":39150},"d3a6578da22c0",[],"Hunting's Half Year Results for the six months to 30th June 2008 will be announced on Thursday 28th August 2008.",[],{"_key":39153,"_type":173,"children":39154,"markDefs":39158,"style":182},"4ef56a672918",[39155],{"_key":39156,"_type":177,"marks":39157,"text":1126},"dc53667f1e130",[179],[],{"_key":39160,"_type":173,"children":39161,"markDefs":39165,"style":182},"b46153e0e961",[39162],{"_key":39163,"_type":177,"marks":39164,"text":30891},"f2bc90980bf80",[],[],{"_key":39167,"_type":173,"children":39168,"markDefs":39172,"style":182},"ee3ca1663e76",[39169],{"_key":39170,"_type":177,"marks":39171,"text":37850},"2f8de3d3cb810",[],[],{"_key":39174,"_type":173,"children":39175,"markDefs":39180,"style":182},"9c481ede18a2",[39176],{"_key":39177,"_type":177,"marks":39178,"text":39179},"8ea70ee7af8d0",[],"Buchanan Communications\nBen Willey\nNick Melson\nCatherine Breen Tel: 020 7466 5000",[],[39182],{"_key":39183,"_ref":1713,"_type":141},"022c7ace3ecd","2008-07-01T09:49:00.000Z",{"_type":9,"current":39186},"01-07-2008",[39188,39190],{"_key":39189,"_ref":7180,"_type":141},"e62f4bd70211",{"_key":39191,"_ref":10968,"_type":141},"acc386a364b8","Hunting PLC Trading Update","\u002Fnews\u002F01-07-2008",{"_createdAt":39195,"_id":39196,"_rev":16709,"_type":168,"_updatedAt":116,"body":39197,"categories":39284,"introText":39286,"publishedAt":39287,"slug":39288,"tags":39290,"title":39293,"url":39294},"2023-02-21T10:49:47Z","8d0e1349-3b79-4960-9f82-902abd6b6636",[39198,39206,39214,39222,39230,39238,39246,39254,39262,39269,39276],{"_key":39199,"_type":173,"children":39200,"markDefs":39205,"style":182},"69110b19ef38",[39201],{"_key":39202,"_type":177,"marks":39203,"text":39204},"f658d33d69f10",[],"23 April 2008 - Hunting PLC appointment of Finance Director",[],{"_key":39207,"_type":173,"children":39208,"markDefs":39213,"style":182},"be7d774fbdfe",[39209],{"_key":39210,"_type":177,"marks":39211,"text":39212},"edddf5baf5ef0",[],"Hunting PLC, the international energy services company, is pleased to announce that at the Annual General Meeting held on 23 April 2008, Peter Rose was appointed Finance Director of the Company following the retirement of Dennis Clark.",[],{"_key":39215,"_type":173,"children":39216,"markDefs":39221,"style":182},"e0f5e65d3bfd",[39217],{"_key":39218,"_type":177,"marks":39219,"text":39220},"8b50c6c9852a0",[],"Peter Rose, a Chartered Accountant, has been with the Company since July 1997. He previously held senior financial positions with Babcock International having joined that company from PricewaterhouseCoopers. He also remains as Company Secretary.",[],{"_key":39223,"_type":173,"children":39224,"markDefs":39229,"style":182},"a0d14b2324cf",[39225],{"_key":39226,"_type":177,"marks":39227,"text":39228},"8adcf59235de0",[],"Dennis Clark, who retires today, has been with the Company since its formation in 1989. He has had a distinguished career, culminating in his active involvement in the remarkable growth of the Company over the past few years.",[],{"_key":39231,"_type":173,"children":39232,"markDefs":39237,"style":182},"f144af6b2916",[39233],{"_key":39234,"_type":177,"marks":39235,"text":39236},"19296977c2e70",[],"Dennis Proctor, Chief Executive of Hunting said:",[],{"_key":39239,"_type":173,"children":39240,"markDefs":39245,"style":182},"ce7ea129e570",[39241],{"_key":39242,"_type":177,"marks":39243,"text":39244},"065942b550a40",[],"\"We are delighted to announce Peter's appointment as Finance Director, his in depth knowledge of the business gained at a senior level will be vital as we continue to grow through our sound positioning in a strong and growing marketplace.",[],{"_key":39247,"_type":173,"children":39248,"markDefs":39253,"style":182},"a689b8cce25c",[39249],{"_key":39250,"_type":177,"marks":39251,"text":39252},"a2fa56f88b2e0",[],"\"The Board also wishes to extend its appreciation to Dennis Clark for his outstanding achievements as Finance Director, particularly during our extremely strong growth over the past few years.\"",[],{"_key":39255,"_type":173,"children":39256,"markDefs":39261,"style":182},"c737f30875af",[39257],{"_key":39258,"_type":177,"marks":39259,"text":39260},"ddc051f6d2e30",[],"- ends -",[],{"_key":39263,"_type":173,"children":39264,"markDefs":39268,"style":182},"e8cde5e8a21e",[39265],{"_key":39266,"_type":177,"marks":39267,"text":1126},"f8438fbdfe990",[179],[],{"_key":39270,"_type":173,"children":39271,"markDefs":39275,"style":182},"90dc625992e5",[39272],{"_key":39273,"_type":177,"marks":39274,"text":30891},"d68b0b2a5b5c0",[],[],{"_key":39277,"_type":173,"children":39278,"markDefs":39283,"style":182},"375690e4f8b5",[39279],{"_key":39280,"_type":177,"marks":39281,"text":39282},"77ae4caf8b380",[],"Hogarth Partnership\nAndrew Jaques \u002F Anthony Arthur Tel: 020 7357 9477",[],[39285],{"_key":39183,"_ref":1713,"_type":141},"Hunting PLC is pleased to announce that at the Annual General Meeting held on 23 April 2008, Peter Rose was appointed Finance Director of the Company following the retirement of Dennis Clark","2008-04-23T09:49:00.000Z",{"_type":9,"current":39289},"23-04-2008",[39291,39292],{"_key":39189,"_ref":7180,"_type":141},{"_key":39191,"_ref":16463,"_type":141},"Hunting PLC appointment of Finance Director","\u002Fnews\u002F23-04-2008",{"_createdAt":39296,"_id":39297,"_rev":16709,"_type":168,"_updatedAt":116,"body":39298,"categories":39398,"introText":39286,"publishedAt":39287,"slug":39400,"tags":39402,"title":39404,"url":39405},"2023-02-21T10:50:50Z","f482e89c-a942-4916-a51a-0b7bd4cfeefa",[39299,39306,39314,39322,39330,39338,39346,39354,39361,39368,39376,39383,39391],{"_key":39300,"_type":173,"children":39301,"markDefs":39305,"style":182},"83ad5f3da370",[39302],{"_key":39303,"_type":177,"marks":39304,"text":1134},"9dbc12b7a2480",[],[],{"_key":39307,"_type":173,"children":39308,"markDefs":39313,"style":14843},"9633ee6b51e5",[39309],{"_key":39310,"_type":177,"marks":39311,"text":39312},"22f117869302",[],"AGM Interim Management Statement",[],{"_key":39315,"_type":173,"children":39316,"markDefs":39321,"style":182},"283dd963ffdc",[39317],{"_key":39318,"_type":177,"marks":39319,"text":39320},"0c5d8d44b2190",[],"Hunting PLC (\"Hunting\"), the international energy services company, will be holding its AGM at 0.30 am today and is publishing its first Interim Management Statement for the period from 1 January 2008 to 23 April 2008, as required by the UK Listing Authority's Disclosure and Transparency Rules. Richard Hunting, Chairman, will be making the following statement to shareholders.",[],{"_key":39323,"_type":173,"children":39324,"markDefs":39329,"style":182},"29e4dc3ffc6a",[39325],{"_key":39326,"_type":177,"marks":39327,"text":39328},"4051a344663f0",[],"\"Rising energy prices have escalated the efforts of global oil and gas companies to find new developments and replace declining production. The scope of these efforts continues to provide xcellent opportunities for new business and support the recently added capacity within the Group.",[],{"_key":39331,"_type":173,"children":39332,"markDefs":39337,"style":182},"86633013a240",[39333],{"_key":39334,"_type":177,"marks":39335,"text":39336},"013a640839700",[],"Gibson Energy continues to perform well in the robust Canadian oil and gas industry. Higher volumes and a late 2007 trucking acquisition will provide additional growth in Gibson's Truck transportation division. Marketing has seen a reversal of the poor Q4 trading environment. Its Canwest division has seen immediate results from the three prior year acquisitions. Moose Jaw Refinery, as usual, starts slowly in the winter months with improved activity expected in the remainder of the year. High margins are being sustained in Gibson's Terminal and Pipeline facilities.",[],{"_key":39339,"_type":173,"children":39340,"markDefs":39345,"style":182},"bef357b3bcd9",[39341],{"_key":39342,"_type":177,"marks":39343,"text":39344},"7ed035a4bb040",[],"Hunting Energy is benefiting from the global efforts underway in deep water development. New iddle East contracts, new manufacturing capacity along the Gulf coast in the US and recently tested and approved patented products will extend this division's growth potential this year and beyond. Its Exploration and Production division began the year with successful completions and is enjoying the higher oil and gas prices.",[],{"_key":39347,"_type":173,"children":39348,"markDefs":39353,"style":182},"b2c8eb0f440a",[39349],{"_key":39350,"_type":177,"marks":39351,"text":39352},"c3d1ef4049b50",[],"Trading is in line with the Board's expectations. We have uniquely positioned ourselves to capitalise on the growing trends within the global oil and gas industry. Combined with our organic growth capabilities and disciplined financial execution, we view the future with confidence\".",[],{"_key":39355,"_type":173,"children":39356,"markDefs":39360,"style":182},"d10d6e881b19",[39357],{"_key":39358,"_type":177,"marks":39359,"text":1126},"9643c8ae69870",[179],[],{"_key":39362,"_type":173,"children":39363,"markDefs":39367,"style":182},"b269f9b39006",[39364],{"_key":39365,"_type":177,"marks":39366,"text":30891},"0eb8483e30c00",[],[],{"_key":39369,"_type":173,"children":39370,"markDefs":39375,"style":182},"7ed4102f260d",[39371],{"_key":39372,"_type":177,"marks":39373,"text":39374},"9819a033861c0",[],"Hogarth Partnership Limited\nAndrew Jaques \u002F Anthony Arthur Tel: 020 7357 9477",[],{"_key":39377,"_type":173,"children":39378,"markDefs":39382,"style":14843},"216ef2fbbe00",[39379],{"_key":39380,"_type":177,"marks":39381,"text":35515},"ab3ae0d35fcc0",[],[],{"_key":39384,"_type":173,"children":39385,"markDefs":39390,"style":182},"a6d36abccce8",[39386],{"_key":39387,"_type":177,"marks":39388,"text":39389},"3854b04590860",[],"Hunting PLC is an international energy services company providing support solutions to the worlds leading oil and gas companies.",[],{"_key":39392,"_type":173,"children":39393,"markDefs":39397,"style":182},"cbb060cd6e02",[39394],{"_key":39395,"_type":177,"marks":39396,"text":1430},"95940f6da33a0",[],[],[39399],{"_key":39183,"_ref":1713,"_type":141},{"_type":9,"current":39401},"23-04-2008a",[39403],{"_key":39189,"_ref":7180,"_type":141},"Hunting PLC Interim Management Statement","\u002Fnews\u002F23-04-2008a",{"_createdAt":39407,"_id":39408,"_rev":13935,"_type":168,"_updatedAt":116,"body":39409,"categories":39527,"introText":39529,"publishedAt":39530,"slug":39531,"tags":39533,"title":39537,"url":39538},"2023-02-21T10:51:55Z","89edf8f6-1685-4ca4-933e-2983f6c63ed3",[39410,39418,39426,39434,39442,39450,39458,39466,39474,39482,39490,39497,39504,39512,39519],{"_key":39411,"_type":173,"children":39412,"markDefs":39417,"style":182},"63193ec00a28",[39413],{"_key":39414,"_type":177,"marks":39415,"text":39416},"bce06fb5f0c30",[],"Hunting PLC 2007 Final results\nYear ended 31 December 2007",[],{"_key":39419,"_type":173,"children":39420,"markDefs":39425,"style":182},"c7f1a8d067bf",[39421],{"_key":39422,"_type":177,"marks":39423,"text":39424},"be4a55e00b4c0",[],"Hunting PLC ('Hunting', the 'Group' or the 'Company'), the international energy services company, today announces its preliminary results for the year ended 31 December 2007.",[],{"_key":39427,"_type":173,"children":39428,"level":955,"listItem":2555,"markDefs":39433,"style":182},"c15ed10ca6df",[39429],{"_key":39430,"_type":177,"marks":39431,"text":39432},"395f6d4dc5f70",[],"Revenue £1,949.5m (2006: £1,810.4m) +8%",[],{"_key":39435,"_type":173,"children":39436,"level":955,"listItem":2555,"markDefs":39441,"style":182},"897bd1ef4190",[39437],{"_key":39438,"_type":177,"marks":39439,"text":39440},"a1bb8c159d620",[],"Profit from operations £98.5m (2006: £86.3m) +14%",[],{"_key":39443,"_type":173,"children":39444,"level":955,"listItem":2555,"markDefs":39449,"style":182},"c2330d420d44",[39445],{"_key":39446,"_type":177,"marks":39447,"text":39448},"7968fa7286760",[],"Profit before tax and exceptional items £93.0m (2006:£85.8m)+8%",[],{"_key":39451,"_type":173,"children":39452,"level":955,"listItem":2555,"markDefs":39457,"style":182},"63fed7b9d6b2",[39453],{"_key":39454,"_type":177,"marks":39455,"text":39456},"ca6b069c54980",[],"Profit before tax £90.7m (2006: £80.8m)+12%",[],{"_key":39459,"_type":173,"children":39460,"level":955,"listItem":2555,"markDefs":39465,"style":182},"fea2bf0b6f2e",[39461],{"_key":39462,"_type":177,"marks":39463,"text":39464},"91ea4b29c89a0",[],"Basic earnings per share 44.0p per share (2006: 37.6p)+17%",[],{"_key":39467,"_type":173,"children":39468,"level":955,"listItem":2555,"markDefs":39473,"style":182},"08ec96307844",[39469],{"_key":39470,"_type":177,"marks":39471,"text":39472},"dce3fb0c53580",[],"Total Ordinary dividend per share 8.25p (2006: 7.5p)+10%",[],{"_key":39475,"_type":173,"children":39476,"markDefs":39481,"style":182},"4b2ce493fb5b",[39477],{"_key":39478,"_type":177,"marks":39479,"text":39480},"15bd9c0099d90",[179],"Commenting on the outlook for the Group, Dennis Proctor, Hunting's Chief Executive, said:",[],{"_key":39483,"_type":173,"children":39484,"markDefs":39489,"style":13454},"f295e8521872",[39485],{"_key":39486,"_type":177,"marks":39487,"text":39488},"b6d4e0db38620",[179],"'The Company sees heightened oil and gas activity for the foreseeable future and is uniquely positioned to serve the global market of nationals and oil majors and provide sustained growth. With a strong balance sheet, a tested strategy and dedicated employees, Hunting PLC will continue delivering excellent value to its shareholders.'",[],{"_key":39491,"_type":173,"children":39492,"markDefs":39496,"style":182},"355e294d8cb7",[39493],{"_key":39494,"_type":177,"marks":39495,"text":1126},"640dccb7a5cc0",[179],[],{"_key":39498,"_type":173,"children":39499,"markDefs":39503,"style":182},"f6071e344660",[39500],{"_key":39501,"_type":177,"marks":39502,"text":30891},"0371683f218a0",[],[],{"_key":39505,"_type":173,"children":39506,"markDefs":39511,"style":182},"8f707d3335a9",[39507],{"_key":39508,"_type":177,"marks":39509,"text":39510},"d4d2799a4a090",[],"Hogarth Partnership Limited\nAndrew Jaques\nAnthony Arthur Tel: 020 7357 9477",[],{"_key":39513,"_type":173,"children":39514,"markDefs":39518,"style":14843},"f59a4b71df69",[39515],{"_key":39516,"_type":177,"marks":39517,"text":35515},"ff92bee4f28b0",[],[],{"_key":39520,"_type":173,"children":39521,"markDefs":39526,"style":182},"94b935b15efc",[39522],{"_key":39523,"_type":177,"marks":39524,"text":39525},"3497dde92dc50",[],"Hunting PLC is an international oil services company providing support solutions to the world's largest oil and gas companies.",[],[39528],{"_key":39183,"_ref":1713,"_type":141},"Hunting PLC, today announces its final results for the year ended 31 December 2007","2008-02-28T10:49:00.000Z",{"_type":9,"current":39532},"28-01-2008a",[39534,39535],{"_key":39189,"_ref":7180,"_type":141},{"_key":39536,"_ref":15507,"_type":141},"0ed6fa94be0f","Hunting PLC 2007 Annual Results","\u002Fnews\u002F28-01-2008a",{"_createdAt":39540,"_id":39541,"_rev":16709,"_type":168,"_updatedAt":116,"body":39542,"categories":39636,"introText":39639,"publishedAt":39640,"slug":39641,"tags":39643,"title":39192,"url":39648},"2023-02-21T11:03:05Z","99dca32a-a587-442a-8df5-27e638ac6c93",[39543,39551,39559,39567,39575,39583,39591,39599,39606,39614,39621,39628],{"_key":39544,"_type":173,"children":39545,"markDefs":39550,"style":182},"13062d218495",[39546],{"_key":39547,"_type":177,"marks":39548,"text":39549},"4c631d7937bf0",[],"Hunting PLC Pre-Close Trading Update",[],{"_key":39552,"_type":173,"children":39553,"markDefs":39558,"style":182},"a474854a9e26",[39554],{"_key":39555,"_type":177,"marks":39556,"text":39557},"0aa658e2dae80",[],"Hunting's preliminary results for the full year to 31 December 2007 will be announced on 28 February 2008.",[],{"_key":39560,"_type":173,"children":39561,"markDefs":39566,"style":182},"0c99828fba6f",[39562],{"_key":39563,"_type":177,"marks":39564,"text":39565},"492d2e73a5330",[],"Dennis Proctor, Hunting's Chief Executive, said;",[],{"_key":39568,"_type":173,"children":39569,"markDefs":39574,"style":182},"343a9020359c",[39570],{"_key":39571,"_type":177,"marks":39572,"text":39573},"5b09d8c74ec90",[],"'The Group's current trading is strong with an order book running well into next year, and despite the US Dollar weakness, we expect year end results to be in line with market expectations. On a constant currency basis, our pre-tax profits would be significantly exceeding expectations.",[],{"_key":39576,"_type":173,"children":39577,"markDefs":39582,"style":182},"72467a52753a",[39578],{"_key":39579,"_type":177,"marks":39580,"text":39581},"50f4dc3296c50",[],"The majority of Hunting's growth this year will be from Hunting Energy. The Well Completion division will see a material increase in operating profit due to additional capacity and client rig activity. Well Construction and Exploration & Production should see very significant improvements over last year.",[],{"_key":39584,"_type":173,"children":39585,"markDefs":39590,"style":182},"39d537ebdd5b",[39586],{"_key":39587,"_type":177,"marks":39588,"text":39589},"b5d735c0332a0",[],"In Gibson Energy, most divisions are expecting year-on-year increases with the exception of our Marketing group. Due to the rapid increase in the oil price in the second half of this year, the Canadian oil market moved into backwardation which removed incentives for storage and added additional cost factors. Further, heavy and sour oil differentials have risen in lock step with the West Texas Intermediate price. We have taken the necessary steps to adjust to this extreme volatility and are confident the Marketing group will remain a significant contributor to Gibson's earnings. Truck Transportation is experiencing another record year due to the increased volumes of crude oil activity. Moose Jaw Refinery should deliver results similar to those of 2006 following a slow start in the first half. Canwest Propane continues to benefit from prior acquisitions and expanded operations.",[],{"_key":39592,"_type":173,"children":39593,"markDefs":39598,"style":182},"44da5b087f91",[39594],{"_key":39595,"_type":177,"marks":39596,"text":39597},"ef836aa741730",[],"Oil and gas company capital expenditure is expected to be around 7% above 2006 levels. Early indications suggest an 11% improvement in 2008. Accordingly, we expect continued growth from our acquisitions, capital expenditure and additional market share gains from increased capacity in Asia, Europe and the United States.'",[],{"_key":39600,"_type":173,"children":39601,"markDefs":39605,"style":182},"f72ba2a33ca2",[39602],{"_key":39603,"_type":177,"marks":39604,"text":1126},"74cea8c170140",[],[],{"_key":39607,"_type":173,"children":39608,"markDefs":39613,"style":182},"df39522cd573",[39609],{"_key":39610,"_type":177,"marks":39611,"text":39612},"928ded718ac50",[],"Hunting PLC\nDennis Proctor, Chief Executive\nDennis Clark, Finance Director Tel: 020 7321 0123",[],{"_key":39615,"_type":173,"children":39616,"markDefs":39620,"style":182},"e2a377adef5f",[39617],{"_key":39618,"_type":177,"marks":39619,"text":39510},"cb7c13daefd00",[],[],{"_key":39622,"_type":173,"children":39623,"markDefs":39627,"style":182},"a898f5656b8a",[39624],{"_key":39625,"_type":177,"marks":39626,"text":35515},"f826025007400",[],[],{"_key":39629,"_type":173,"children":39630,"markDefs":39635,"style":182},"201d3b09cc61",[39631],{"_key":39632,"_type":177,"marks":39633,"text":39634},"5ad6c35c90710",[],"Hunting PLC is an international oil services company providing solutions to the world's oil and gas companies.",[],[39637],{"_key":39638,"_ref":1713,"_type":141},"87ccf1dff219","Hunting's preliminary results for the full year to 31 December 2007 will be announced on 28 February 2008","2007-12-13T11:02:00.000Z",{"_type":9,"current":39642},"13-12-2007",[39644,39646],{"_key":39645,"_ref":7180,"_type":141},"4fbee1cc4d7f",{"_key":39647,"_ref":10968,"_type":141},"692ce52bd8cf","\u002Fnews\u002F13-12-2007",{"_createdAt":39650,"_id":39651,"_rev":16709,"_type":168,"_updatedAt":116,"body":39652,"categories":39767,"introText":39769,"publishedAt":39770,"slug":39771,"tags":39773,"title":39776,"url":39777},"2023-02-21T11:03:10Z","026d1534-f82b-4748-95d8-3904e40fb064",[39653,39661,39669,39677,39685,39693,39701,39709,39717,39724,39732,39739,39746,39753,39760],{"_key":39654,"_type":173,"children":39655,"markDefs":39660,"style":182},"40f68c29a642",[39656],{"_key":39657,"_type":177,"marks":39658,"text":39659},"76c4c41f378d0",[],"Half year results\nFor the six months ended 30 June 2007",[],{"_key":39662,"_type":173,"children":39663,"markDefs":39668,"style":182},"aefc7fe16f4f",[39664],{"_key":39665,"_type":177,"marks":39666,"text":39667},"699b9e1394670",[],"Hunting PLC ('Hunting', the 'Group' or the 'Company'), the international energy services company, today announces its half year results for the six months ended 30 June 2007.",[],{"_key":39670,"_type":173,"children":39671,"level":955,"listItem":2555,"markDefs":39676,"style":182},"aa55de670d37",[39672],{"_key":39673,"_type":177,"marks":39674,"text":39675},"9663965a98120",[],"Revenue of £877.2m (2006: £885.8m) -1%",[],{"_key":39678,"_type":173,"children":39679,"level":955,"listItem":2555,"markDefs":39684,"style":182},"23fceba59b3a",[39680],{"_key":39681,"_type":177,"marks":39682,"text":39683},"8b4af6ce7bc40",[],"Profit from operations before exceptional items of £42.5m (2006: £38.5m) +10%",[],{"_key":39686,"_type":173,"children":39687,"level":955,"listItem":2555,"markDefs":39692,"style":182},"e228ed97107a",[39688],{"_key":39689,"_type":177,"marks":39690,"text":39691},"0b8b102095b30",[],"Pre-tax profit before exceptional items of £38.9m (2006: £35.3m)+10%",[],{"_key":39694,"_type":173,"children":39695,"level":955,"listItem":2555,"markDefs":39700,"style":182},"e5019c71c457",[39696],{"_key":39697,"_type":177,"marks":39698,"text":39699},"e87eaa0bc6330",[],"Basic earnings per share before exceptional items of 18.1p per share (2006: 16.6p)+9%",[],{"_key":39702,"_type":173,"children":39703,"level":955,"listItem":2555,"markDefs":39708,"style":182},"8c1c2c77c7df",[39704],{"_key":39705,"_type":177,"marks":39706,"text":39707},"59da624a9fee0",[],"Interim dividend of 2.55p per share (2006: 2.3p)+11%",[],{"_key":39710,"_type":173,"children":39711,"markDefs":39716,"style":182},"48c2caf7fa99",[39712],{"_key":39713,"_type":177,"marks":39714,"text":39715},"b5d2ac67bf6e0",[],"Pre-tax profits reported in US Dollars, as opposed to £-Sterling, showed an increase of 21% over the prior period reflecting Hunting's strong growth and the impact of currency fluctuations on the first half results.",[],{"_key":39718,"_type":173,"children":39719,"markDefs":39723,"style":182},"fc1a4e8fec10",[39720],{"_key":39721,"_type":177,"marks":39722,"text":39480},"e982e1348e5e0",[],[],{"_key":39725,"_type":173,"children":39726,"markDefs":39731,"style":182},"40ee2c19651d",[39727],{"_key":39728,"_type":177,"marks":39729,"text":39730},"72e2fa5da2b80",[],"'For 2007, the oil and gas industry did not expect as dramatic a growth as experienced in 2005 and 2006 due to labour constraints and project timing. We are pleased with our first half results and improvement should continue for the second half. Weather, currency fluctuations, gas prices, light and heavy crude price differentials and geopolitical dynamics can and will influence future performance. However, the fundamentals of diminishing reserves against growing demand will provide your Company with the opportunity to utilise its excellent and strategically located assets for future benefit.'",[],{"_key":39733,"_type":173,"children":39734,"markDefs":39738,"style":182},"5e87e5b17518",[39735],{"_key":39736,"_type":177,"marks":39737,"text":1126},"8bb7d2fb24b20",[],[],{"_key":39740,"_type":173,"children":39741,"markDefs":39745,"style":182},"2e3f67c4f239",[39742],{"_key":39743,"_type":177,"marks":39744,"text":39612},"0b6b6a021a010",[],[],{"_key":39747,"_type":173,"children":39748,"markDefs":39752,"style":182},"475ae103ed63",[39749],{"_key":39750,"_type":177,"marks":39751,"text":39510},"448d500ecdac0",[],[],{"_key":39754,"_type":173,"children":39755,"markDefs":39759,"style":182},"a289d5b5d4bd",[39756],{"_key":39757,"_type":177,"marks":39758,"text":35515},"713f14989e7c0",[],[],{"_key":39761,"_type":173,"children":39762,"markDefs":39766,"style":182},"7e11d57a89c7",[39763],{"_key":39764,"_type":177,"marks":39765,"text":39525},"56acfe08a2af0",[],[],[39768],{"_key":39638,"_ref":1713,"_type":141},"Hunting PLC, the international energy services company, today announces its half year results for the six months ended 30 June 2007","2007-08-30T10:02:00.000Z",{"_type":9,"current":39772},"30-08-2007",[39774,39775],{"_key":39645,"_ref":7180,"_type":141},{"_key":39647,"_ref":15507,"_type":141},"Hunting PLC half year results","\u002Fnews\u002F30-08-2007",{"_createdAt":39779,"_id":39780,"_rev":10453,"_type":168,"_updatedAt":116,"body":39781,"categories":39858,"introText":39860,"publishedAt":39861,"slug":39862,"tags":39864,"title":39192,"url":39867},"2023-02-21T11:06:11Z","bdbd052d-3859-4a1c-b0bf-6986cd1191eb",[39782,39790,39797,39804,39812,39820,39827,39835,39843,39850],{"_key":39783,"_type":173,"children":39784,"markDefs":39789,"style":182},"c73abfe75cc2",[39785],{"_key":39786,"_type":177,"marks":39787,"text":39788},"7da842e2de540",[],"Hunting PLC (\"Hunting\", the \"Company\")\nTrading Update - 26 June 2007",[],{"_key":39791,"_type":173,"children":39792,"markDefs":39796,"style":182},"b3a11df362d7",[39793],{"_key":39794,"_type":177,"marks":39795,"text":39103},"c8079fb070850",[],[],{"_key":39798,"_type":173,"children":39799,"markDefs":39803,"style":182},"4afa31a8db64",[39800],{"_key":39801,"_type":177,"marks":39802,"text":35599},"4aa0c0d835570",[],[],{"_key":39805,"_type":173,"children":39806,"markDefs":39811,"style":182},"0c2fb69270ac",[39807],{"_key":39808,"_type":177,"marks":39809,"text":39810},"81e716086b970",[],"\"The global thirst for energy continues to provide growth opportunities for the Group. Gibson Energy's truck transportation business continues to enjoy strong demand as a result of the high levels of heavy oil project activity in Canada. The recent acquisition of Boychuk Energy on lst June 2007 for £6.3m has added 5 per cent of additional capacity to our fleet. Marketing continues to benefit from the volatile commodity prices and the increasing utilisation of its Edmonton North facility. Due to a slow start in drilling activity and unusually wet weather, Moose Jaw Refinery is marginally behind expectations. Asphalt prices are up year-on-year and well site fluid deliveries should catch up in the second half. Canwest Propane has had an excellent start to the year with higher margins.\nIn Hunting Energy, global drilling increases have benefited all products and services, especially in the North Sea and Asia. Exploration and Production spending forecasts have risen from a 7 per cent increase over 2006 to 13 per cent. Order books remain strong and contracts received in 2006 are now being delivered. Its 14 global manufacturing facilities are nearing full capacity, however, expansion plans are in place to provide for future volume growth.\nCapital expenditure is forecast to exceed 2006 levels by approximately 50% to take advantage of the opportunities from the increase in customer demand.\nWe remain mindful of the potential impact of exchange rates on our results.\"",[],{"_key":39813,"_type":173,"children":39814,"markDefs":39819,"style":182},"412e81e9a4a8",[39815],{"_key":39816,"_type":177,"marks":39817,"text":39818},"da5fc4cc13f30",[],"Hunting's Interim Results for the six months to 30th June 2007 will be announced on Thursday, 30th August 2007.",[],{"_key":39821,"_type":173,"children":39822,"markDefs":39826,"style":182},"54a211999140",[39823],{"_key":39824,"_type":177,"marks":39825,"text":1126},"f14704610f890",[],[],{"_key":39828,"_type":173,"children":39829,"markDefs":39834,"style":182},"e785541a0053",[39830],{"_key":39831,"_type":177,"marks":39832,"text":39833},"6f33907920b60",[],"Hunting PLC\nDennis Proctor, Chief Executive\nDennis Clark, Finance Director\nTel: 001 281 442 7382\nTel: 020 7321 0123",[],{"_key":39836,"_type":173,"children":39837,"markDefs":39842,"style":182},"2613fb8ce20d",[39838],{"_key":39839,"_type":177,"marks":39840,"text":39841},"44a0be3596a80",[],"Hogarth Partnership Limited\nAndrew Jaques\nJohn Olsen\nAnthony Arthur\nTel: 020 7357 9477",[],{"_key":39844,"_type":173,"children":39845,"markDefs":39849,"style":182},"fc75c45291d5",[39846],{"_key":39847,"_type":177,"marks":39848,"text":35515},"198fe5ff45b20",[],[],{"_key":39851,"_type":173,"children":39852,"markDefs":39857,"style":182},"244e98cb7258",[39853],{"_key":39854,"_type":177,"marks":39855,"text":39856},"b22b65156ce90",[],"Hunting PLC is an international oil services company providing solutions to the world's oil and gas companies",[],[39859],{"_key":39638,"_ref":1713,"_type":141},"Trading conditions continue to be robust. The Board remains confident on the outlook for the year as performance is in line with internal expectations","2007-06-26T10:02:00.000Z",{"_type":9,"current":39863},"26-06-2007",[39865,39866],{"_key":39645,"_ref":7180,"_type":141},{"_key":39647,"_ref":10968,"_type":141},"\u002Fnews\u002F26-06-2007",{"_createdAt":39869,"_id":39870,"_rev":16709,"_type":168,"_updatedAt":116,"body":39871,"categories":39949,"introText":39951,"publishedAt":39952,"slug":39953,"tags":39955,"title":39958,"url":39959},"2023-02-21T11:07:03Z","013e8e9b-45f1-45ba-9c35-8ab9ca504ad3",[39872,39880,39888,39896,39904,39912,39919,39927,39935,39942],{"_key":39873,"_type":173,"children":39874,"markDefs":39879,"style":182},"7c4b5c9b8088",[39875],{"_key":39876,"_type":177,"marks":39877,"text":39878},"858dba400d900",[],"Hunting PLC (\"Hunting\"), the international energy services company, will be holding its AGM at 10.30 am today. Richard Hunting, Chairman, will be making the following statement to shareholders:",[],{"_key":39881,"_type":173,"children":39882,"markDefs":39887,"style":182},"280eda12ff0d",[39883],{"_key":39884,"_type":177,"marks":39885,"text":39886},"a8d1f328e5470",[],"\"Performance throughout the Group continues to reflect a strong marketplace enhanced by capital expenditure decisions made in prior years. Oil and gas companies persist in their urgent quest for new developments and reserve replacements, thereby providing excellent opportunities for Hunting.",[],{"_key":39889,"_type":173,"children":39890,"markDefs":39895,"style":182},"7748b54442de",[39891],{"_key":39892,"_type":177,"marks":39893,"text":39894},"7a0d357c6ce20",[],"Gibson Energy's truck transportation, with additional trailer capacity, continues to benefit from Canadian heavy oil projects. Its Canwest Propane division has seen immediate results from prior year acquisitions and margin management. The Marketing and Moose Jaw Refinery divisions are continuing to capitalise on the volatility in the various grades of heavy oil and diluent availability.",[],{"_key":39897,"_type":173,"children":39898,"markDefs":39903,"style":182},"01a6b48c98a8",[39899],{"_key":39900,"_type":177,"marks":39901,"text":39902},"2246544676d00",[],"Hunting Energy has experienced new and further growth throughout its global facilities. Our Asian Group has benefited strongly from Middle East and Far East contracts. The European market remains steady for products and services. In spite of a stabilised North American rig count, all facilities have improved order books. The Exploration and Production division has improved year on year volumes.",[],{"_key":39905,"_type":173,"children":39906,"markDefs":39911,"style":182},"0854079a5c21",[39907],{"_key":39908,"_type":177,"marks":39909,"text":39910},"ef755aed66ed0",[],"Overall, trading is in line with the Board's expectations. However, currency fluctuations will impact the final result. We have uniquely positioned ourselves to capitalise on the growing trends within the global oil and gas industry. Combined with our organic growth capabilities and disciplined financial execution, we view the future with confidence.\"",[],{"_key":39913,"_type":173,"children":39914,"markDefs":39918,"style":182},"2bb0e72bbeec",[39915],{"_key":39916,"_type":177,"marks":39917,"text":5318},"c7f9338771720",[],[],{"_key":39920,"_type":173,"children":39921,"markDefs":39926,"style":182},"f4583af0dec1",[39922],{"_key":39923,"_type":177,"marks":39924,"text":39925},"84d6bff60e9c0",[],"Hunting PLC\nDennis Proctor, Group Chief Executive\nDennis Clark, Group Finance Director Telephone: 020 7321 0123",[],{"_key":39928,"_type":173,"children":39929,"markDefs":39934,"style":182},"dfe6ba659a7a",[39930],{"_key":39931,"_type":177,"marks":39932,"text":39933},"9e7cb4a261350",[],"Hogarth Partnership Limited\nAndrew Jaques\nJohn Olsen\nAnthony Arthur Tel: 020 7357 9477",[],{"_key":39936,"_type":173,"children":39937,"markDefs":39941,"style":182},"5a41955efc68",[39938],{"_key":39939,"_type":177,"marks":39940,"text":10958},"2e8c4902a9c80",[],[],{"_key":39943,"_type":173,"children":39944,"markDefs":39948,"style":182},"81673eb1ae79",[39945],{"_key":39946,"_type":177,"marks":39947,"text":39525},"699d500a995f0",[],[],[39950],{"_key":39638,"_ref":1713,"_type":141},"Hunting PLC will be holding its AGM at 10.30 am today. Richard Hunting, Chairman, will be making the following statement to shareholders","2007-04-25T10:02:00.000Z",{"_type":9,"current":39954},"25-04-2007a",[39956,39957],{"_key":39645,"_ref":7180,"_type":141},{"_key":39647,"_ref":10968,"_type":141},"Hunting PLC AGM Trading Statement","\u002Fnews\u002F25-04-2007a",{"_createdAt":39961,"_id":39962,"_rev":16709,"_type":168,"_updatedAt":116,"body":39963,"categories":40163,"introText":40165,"publishedAt":39952,"slug":40166,"tags":40168,"title":40171,"url":40172},"2023-02-21T11:07:43Z","1afab284-36bc-46d7-940f-878c140a927a",[39964,39971,39979,39987,39995,40003,40011,40019,40027,40035,40043,40051,40059,40067,40075,40083,40091,40099,40107,40115,40123,40131,40139,40147,40155],{"_key":39965,"_type":173,"children":39966,"markDefs":39970,"style":182},"703887dff3ff",[39967],{"_key":39968,"_type":177,"marks":39969,"text":20410},"df13b19fdf960",[],[],{"_key":39972,"_type":173,"children":39973,"markDefs":39978,"style":182},"01e6033f758b",[39974],{"_key":39975,"_type":177,"marks":39976,"text":39977},"e1dfc7ee7f980",[],"The results of the votes on the Resolutions before the Annual General Meeting of Hunting PLC on 25th April 2007 are:-",[],{"_key":39980,"_type":173,"children":39981,"markDefs":39986,"style":182},"0992e0fcbfa9",[39982],{"_key":39983,"_type":177,"marks":39984,"text":39985},"9094a3dae5db0",[],"Resolution 1",[],{"_key":39988,"_type":173,"children":39989,"markDefs":39994,"style":182},"b0f38ffd02a1",[39990],{"_key":39991,"_type":177,"marks":39992,"text":39993},"2f5296559bf90",[],"To receive the Directors' Report and Accounts\nFor\u002FDiscretion 95,747,102 Against 364 Vote withheld 1,501,928",[],{"_key":39996,"_type":173,"children":39997,"markDefs":40002,"style":182},"3a0abffcc2bf",[39998],{"_key":39999,"_type":177,"marks":40000,"text":40001},"939ee0c74f4b0",[],"Resolution 2",[],{"_key":40004,"_type":173,"children":40005,"markDefs":40010,"style":182},"1b9b032ea45e",[40006],{"_key":40007,"_type":177,"marks":40008,"text":40009},"869670c5e6bf0",[],"To approve the Remuneration Committee's Report\nFor\u002FDiscretion 67,169,735 Against 8,789,548 Vote withheld 21,290,111",[],{"_key":40012,"_type":173,"children":40013,"markDefs":40018,"style":182},"34c25cdd8c6e",[40014],{"_key":40015,"_type":177,"marks":40016,"text":40017},"49f1edc73d880",[],"Resolution 3",[],{"_key":40020,"_type":173,"children":40021,"markDefs":40026,"style":182},"cd2bea723e9e",[40022],{"_key":40023,"_type":177,"marks":40024,"text":40025},"056bc33d369e0",[],"To declare a final dividend of 5.2p per share\nFor\u002FDiscretion 97,063,176 Against 0 Vote withheld 186,218",[],{"_key":40028,"_type":173,"children":40029,"markDefs":40034,"style":182},"26232b2e5c56",[40030],{"_key":40031,"_type":177,"marks":40032,"text":40033},"de9a8744f24c0",[],"Resolution 4",[],{"_key":40036,"_type":173,"children":40037,"markDefs":40042,"style":182},"2b803d028283",[40038],{"_key":40039,"_type":177,"marks":40040,"text":40041},"4d145ac9d4440",[],"To re-elect Terry Gomke as a Director\nFor\u002FDiscretion 90,311,921 Against 1,766,266 Vote withheld 5,171,207",[],{"_key":40044,"_type":173,"children":40045,"markDefs":40050,"style":182},"4c1bbf58d8e1",[40046],{"_key":40047,"_type":177,"marks":40048,"text":40049},"628850a16daa0",[],"Resolution 5",[],{"_key":40052,"_type":173,"children":40053,"markDefs":40058,"style":182},"e0d7745704f6",[40054],{"_key":40055,"_type":177,"marks":40056,"text":40057},"b0320adadea00",[],"To re-elect Iain Paterson as a Director\nFor\u002FDiscretion 96,691,299 Against 373,485 Vote withheld 184,610",[],{"_key":40060,"_type":173,"children":40061,"markDefs":40066,"style":182},"269c7a5aa1ba",[40062],{"_key":40063,"_type":177,"marks":40064,"text":40065},"5c7915b25b2d0",[],"Resolution 6",[],{"_key":40068,"_type":173,"children":40069,"markDefs":40074,"style":182},"a44d227dc163",[40070],{"_key":40071,"_type":177,"marks":40072,"text":40073},"7f56e7d3df7f0",[],"To reappoint PricewaterhouseCoopers LLP as Auditors and authorise the Directors to determine their remuneration\nFor\u002FDiscretion 96,004,683 Against 196,882 Vote withheld 1,047,829",[],{"_key":40076,"_type":173,"children":40077,"markDefs":40082,"style":182},"12a335293bfc",[40078],{"_key":40079,"_type":177,"marks":40080,"text":40081},"96499efd0f7c0",[],"Resolution 7",[],{"_key":40084,"_type":173,"children":40085,"markDefs":40090,"style":182},"d4428fbda645",[40086],{"_key":40087,"_type":177,"marks":40088,"text":40089},"18180782c8300",[],"To authorise the Directors to allot shares\nFor\u002FDiscretion 96,359,571 Against 700,100 Vote withheld 189,723",[],{"_key":40092,"_type":173,"children":40093,"markDefs":40098,"style":182},"d0250f016e60",[40094],{"_key":40095,"_type":177,"marks":40096,"text":40097},"83cefcd2eb570",[],"Resolution 8",[],{"_key":40100,"_type":173,"children":40101,"markDefs":40106,"style":182},"7c966e485f3e",[40102],{"_key":40103,"_type":177,"marks":40104,"text":40105},"5b5c36b9e87a0",[],"To approve use of electronic communication\nFor\u002FDiscretion 97,010,121 Against 50,193 Vote withheld 189,080",[],{"_key":40108,"_type":173,"children":40109,"markDefs":40114,"style":182},"a8f12fbe8aff",[40110],{"_key":40111,"_type":177,"marks":40112,"text":40113},"4641d17dae940",[],"Resolution 9",[],{"_key":40116,"_type":173,"children":40117,"markDefs":40122,"style":182},"a7d427b3d7cb",[40118],{"_key":40119,"_type":177,"marks":40120,"text":40121},"a529a6e5082c0",[],"Special resolution: To authorise the Directors to disapply statutory pre-emption rights\nFor\u002FDiscretion 97,044,737 Against 10,776 Vote withheld 193,881",[],{"_key":40124,"_type":173,"children":40125,"markDefs":40130,"style":182},"23393b3743fc",[40126],{"_key":40127,"_type":177,"marks":40128,"text":40129},"4097c035bdc20",[],"Resolution 10",[],{"_key":40132,"_type":173,"children":40133,"markDefs":40138,"style":182},"308f852d5526",[40134],{"_key":40135,"_type":177,"marks":40136,"text":40137},"a5b6ff88329a0",[],"Special resolution: To authorise the Company to purchase its own shares\nFor\u002FDiscretion 97,047,354 Against 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While such levels of growth are unsustainable, management expects that the continued strength in the market will provide excellent growth opportunities. The balance sheet of Hunting PLC is strong. Its assets are well positioned globally. Its commitment to shareholder value is solid.'",[],{"_key":40258,"_type":173,"children":40259,"markDefs":40263,"style":182},"47fd0c90ab04",[40260],{"_key":40261,"_type":177,"marks":40262,"text":5318},"7199bc2b1a940",[],[],{"_key":40265,"_type":173,"children":40266,"markDefs":40270,"style":182},"26f2577dc8c9",[40267],{"_key":40268,"_type":177,"marks":40269,"text":39612},"3ec1e8c6313a0",[],[],{"_key":40272,"_type":173,"children":40273,"markDefs":40277,"style":182},"47a98badf5ef",[40274],{"_key":40275,"_type":177,"marks":40276,"text":39510},"bcedad06b4040",[],[],[40279],{"_key":39638,"_ref":1713,"_type":141},"Hunting PLC the international energy services company, today announces its preliminary results for the year ended 31 December 2006.","2007-03-01T11:02:00.000Z",{"_type":9,"current":40283},"01-03-2007",[40285,40286],{"_key":39645,"_ref":7180,"_type":141},{"_key":39647,"_ref":15507,"_type":141},"Hunting PLC 2006 Annual results.","\u002Fnews\u002F01-03-2007",{"_createdAt":40290,"_id":40291,"_rev":14811,"_type":168,"_updatedAt":116,"body":40292,"categories":40380,"introText":40382,"publishedAt":40383,"slug":40384,"tags":40386,"title":40382,"url":40389},"2023-02-21T11:10:01Z","0ddce91d-b21e-413a-992f-fc41b4e3ed40",[40293,40301,40308,40316,40324,40332,40340,40348,40356,40364,40372],{"_key":40294,"_type":173,"children":40295,"markDefs":40300,"style":182},"523583c0c771",[40296],{"_key":40297,"_type":177,"marks":40298,"text":40299},"85af59cabed30",[],"FOR IMMEDIATE RELEASE 6th FEBRUARY 2007",[],{"_key":40302,"_type":173,"children":40303,"markDefs":40307,"style":182},"767acf55356a",[40304],{"_key":40305,"_type":177,"marks":40306,"text":20410},"faead8ece7730",[],[],{"_key":40309,"_type":173,"children":40310,"markDefs":40315,"style":182},"f48858970661",[40311],{"_key":40312,"_type":177,"marks":40313,"text":40314},"105c0e3af6510",[],"Nigel Richardson to succeed Peter Lilley as Managing Director at Gibson Shipbrokers",[],{"_key":40317,"_type":173,"children":40318,"markDefs":40323,"style":182},"a6a16d38905d",[40319],{"_key":40320,"_type":177,"marks":40321,"text":40322},"33a5177967a50",[],"Dennis Proctor, Hunting PLC's Chief Executive, announced today that Nigel Richardson will become the new managing director at Gibson Shipbrokers when Peter Lilley retires at the end of 2007.",[],{"_key":40325,"_type":173,"children":40326,"markDefs":40331,"style":182},"4e7dfe66dbb1",[40327],{"_key":40328,"_type":177,"marks":40329,"text":40330},"4c680d85002c0",[],"Dennis Proctor said \"Gibson is a very important part of Hunting's business. Nigel Richardson's appointment to succeed Peter Lilley as managing director will continue the company's future development.\"",[],{"_key":40333,"_type":173,"children":40334,"markDefs":40339,"style":182},"435f6b65da06",[40335],{"_key":40336,"_type":177,"marks":40337,"text":40338},"1607b5e0ce780",[],"Nigel Richardson has over 30 years experience in shipbroking and has spent 25 years with Gibson. He has been a director of the company for 15 years, with key responsibility for a dedicated team of shipbrokers, covering the clean and dirty petroleum products' markets.",[],{"_key":40341,"_type":173,"children":40342,"markDefs":40347,"style":182},"3824aafef14d",[40343],{"_key":40344,"_type":177,"marks":40345,"text":40346},"f858eeac6e0a0",[],"John Hale, Gibson's current director of crude oil tankers, will be appointed Deputy Managing Director.",[],{"_key":40349,"_type":173,"children":40350,"markDefs":40355,"style":182},"bed9870e4957",[40351],{"_key":40352,"_type":177,"marks":40353,"text":40354},"5c18705f8edb0",[],"For further information contact:",[],{"_key":40357,"_type":173,"children":40358,"markDefs":40363,"style":182},"88d33c2cff92",[40359],{"_key":40360,"_type":177,"marks":40361,"text":40362},"a6d4541a79390",[],"Dennis Clark +44 (0) 20 7321 0123",[],{"_key":40365,"_type":173,"children":40366,"markDefs":40371,"style":182},"ca90e4a73443",[40367],{"_key":40368,"_type":177,"marks":40369,"text":40370},"e08a01e066c80",[],"Peter Lilley +44 (0) 20 7667 1170",[],{"_key":40373,"_type":173,"children":40374,"markDefs":40379,"style":182},"a4a5bf458677",[40375],{"_key":40376,"_type":177,"marks":40377,"text":40378},"103c41bbf9c10",[],"Brendan Martin +44 (0) 20 7667 1231",[],[40381],{"_key":39638,"_ref":1713,"_type":141},"Hunting PLC appointments at Gibson Shipbrokers","2007-02-06T11:02:00.000Z",{"_type":9,"current":40385},"06-02-2007",[40387,40388],{"_key":39645,"_ref":7180,"_type":141},{"_key":39647,"_ref":16463,"_type":141},"\u002Fnews\u002F06-02-2007",{"_createdAt":40391,"_id":40392,"_rev":29816,"_type":168,"_updatedAt":116,"body":40393,"categories":40487,"introText":40489,"publishedAt":40490,"slug":40491,"tags":40493,"title":39192,"url":40496},"2023-02-21T11:10:54Z","5fea528d-44ec-44c4-8335-92726e0be0d4",[40394,40402,40410,40418,40426,40434,40442,40450,40457,40465,40473,40480],{"_key":40395,"_type":173,"children":40396,"markDefs":40401,"style":182},"f4a704642ed1",[40397],{"_key":40398,"_type":177,"marks":40399,"text":40400},"15454ab668e50",[],"14 December 2006",[],{"_key":40403,"_type":173,"children":40404,"markDefs":40409,"style":182},"8746e942f6c2",[40405],{"_key":40406,"_type":177,"marks":40407,"text":40408},"847c81b7d3770",[],"Hunting PLC\n(\"Hunting\", the \"Company\")\nPre-Close Trading Update",[],{"_key":40411,"_type":173,"children":40412,"markDefs":40417,"style":182},"9dd523e781c9",[40413],{"_key":40414,"_type":177,"marks":40415,"text":40416},"7ff3eac5302a0",[],"Hunting's preliminary results for the full year to 31 December 2006 will be announced on 1 March 2007.",[],{"_key":40419,"_type":173,"children":40420,"markDefs":40425,"style":182},"349ee767899c",[40421],{"_key":40422,"_type":177,"marks":40423,"text":40424},"df3e207117fa0",[],"Dennis Proctor, Hunting's Chief Executive, said: \"Current trading is strong and our year end results are expected to be ahead of current market expectations. Because commodity prices remain strong relative to historical levels, the recent declines have not adversely impacted the Company's order books and production backlogs.",[],{"_key":40427,"_type":173,"children":40428,"markDefs":40433,"style":182},"59a4cdbc143d",[40429],{"_key":40430,"_type":177,"marks":40431,"text":40432},"3a718891e31d0",[],"In Gibson Energy, all divisions have seen growth through the year with Moose Jaw Asphalt providing a significant contribution from wellsite fluids, lower throughput costs and production efficiencies.",[],{"_key":40435,"_type":173,"children":40436,"markDefs":40441,"style":182},"528de81df118",[40437],{"_key":40438,"_type":177,"marks":40439,"text":40440},"df37ab0de64e0",[],"In Hunting Energy, the increased rig activity world wide has benefited all products and services in well construction and well completion. Exploration and production in the Gulf of Mexico has seen a recovery following the 2005 hurricane activity to levels at or near 100%.",[],{"_key":40443,"_type":173,"children":40444,"markDefs":40449,"style":182},"f2392f537369",[40445],{"_key":40446,"_type":177,"marks":40447,"text":40448},"9184ee02cab40",[],"Capital expenditure, committed in prior periods as well as the current year, will provide additional opportunities for growth in 2007, following the benefits received in 2006. For 2007, global activity is forecast to improve by approximately 9% in drilling and production. However, exchange rates, oil company capital expenditure increases and manpower will determine the year over year growth level. The assets of Hunting are well positioned with long term contracts, new more efficient equipment and strong order books to enter 2007.\"",[],{"_key":40451,"_type":173,"children":40452,"markDefs":40456,"style":182},"99e161847485",[40453],{"_key":40454,"_type":177,"marks":40455,"text":5318},"db0609daba290",[],[],{"_key":40458,"_type":173,"children":40459,"markDefs":40464,"style":182},"3dd598258445",[40460],{"_key":40461,"_type":177,"marks":40462,"text":40463},"29cd3f4060c60",[],"Hunting PLC\nDennis Proctor, Chief Executive\nDennis Clark, Finance Director\nTel: 020 7321 0123 \u002F Tel: 001 281 442 7382\nTel: 020 7321 0123",[],{"_key":40466,"_type":173,"children":40467,"markDefs":40472,"style":182},"252ad17cddf3",[40468],{"_key":40469,"_type":177,"marks":40470,"text":40471},"61159ef84dc60",[],"Hogarth Partnership Limited\nAndrew Jaques\nAnthony Arthur\nTel: 020 7357 9477",[],{"_key":40474,"_type":173,"children":40475,"markDefs":40479,"style":182},"67eb670a86c6",[40476],{"_key":40477,"_type":177,"marks":40478,"text":10958},"782f98e070a20",[],[],{"_key":40481,"_type":173,"children":40482,"markDefs":40486,"style":182},"4e889d8e7c44",[40483],{"_key":40484,"_type":177,"marks":40485,"text":39634},"8b7b782eaaf50",[],[],[40488],{"_key":39638,"_ref":1713,"_type":141},"Dennis Proctor, Hunting's Chief Executive, said: \"Current trading is strong and our year end results are expected to be ahead of current market expectations.\"","2006-12-14T11:02:00.000Z",{"_type":9,"current":40492},"14-12-2006",[40494,40495],{"_key":39645,"_ref":7180,"_type":141},{"_key":39647,"_ref":10968,"_type":141},"\u002Fnews\u002F14-12-2006",{"_createdAt":40498,"_id":40499,"_rev":16709,"_type":168,"_updatedAt":116,"body":40500,"categories":40911,"introText":40913,"publishedAt":40914,"slug":40915,"tags":40917,"title":40920,"url":40921},"2023-02-21T11:12:00Z","df9084fb-c6e1-459e-ab84-7af5a677fa1c",[40501,40509,40517,40525,40533,40541,40549,40557,40564,40572,40579,40586,40593,40600,40607,40615,40623,40631,40639,40647,40655,40663,40671,40679,40687,40695,40703,40711,40719,40727,40735,40743,40751,40759,40767,40775,40783,40791,40799,40807,40815,40823,40831,40839,40847,40855,40863,40871,40879,40887,40895,40903],{"_key":40502,"_type":173,"children":40503,"markDefs":40508,"style":182},"432e630a4837",[40504],{"_key":40505,"_type":177,"marks":40506,"text":40507},"d74676da07af0",[],"HUNTING PLC\nInterim results\nFor the six months to 30 June 2006",[],{"_key":40510,"_type":173,"children":40511,"markDefs":40516,"style":182},"1e9c0e5444a1",[40512],{"_key":40513,"_type":177,"marks":40514,"text":40515},"5f173e829d4e0",[],"Hunting PLC ('Hunting', the 'Group' or the 'Company'), the international energy services company, today announces its interim results for the six months to 30 June 2006.",[],{"_key":40518,"_type":173,"children":40519,"level":955,"listItem":2555,"markDefs":40524,"style":182},"b4145252c4f9",[40520],{"_key":40521,"_type":177,"marks":40522,"text":40523},"f16ebd65322e0",[],"Revenue of £885.8m (2005: £668.2m)+33%",[],{"_key":40526,"_type":173,"children":40527,"level":955,"listItem":2555,"markDefs":40532,"style":182},"1b09df24b7a3",[40528],{"_key":40529,"_type":177,"marks":40530,"text":40531},"8dfa2b060ec60",[],"Profit from operations of £38.5m (2005: £22.4m) +72%",[],{"_key":40534,"_type":173,"children":40535,"level":955,"listItem":2555,"markDefs":40540,"style":182},"9c43096096f3",[40536],{"_key":40537,"_type":177,"marks":40538,"text":40539},"155797438d440",[],"Pre-tax profit of £35.3m (2005: £19.1m) +85%",[],{"_key":40542,"_type":173,"children":40543,"level":955,"listItem":2555,"markDefs":40548,"style":182},"9b89324e0353",[40544],{"_key":40545,"_type":177,"marks":40546,"text":40547},"3aa0322d83ea0",[],"Basic earnings per share of 16.6p (2005: 10.9p) +52%",[],{"_key":40550,"_type":173,"children":40551,"level":955,"listItem":2555,"markDefs":40556,"style":182},"4049278fe5f0",[40552],{"_key":40553,"_type":177,"marks":40554,"text":40555},"92541c826fbd0",[],"Ordinary dividend per share of 2.3p (2005: 2.0p) +15%",[],{"_key":40558,"_type":173,"children":40559,"markDefs":40563,"style":182},"1dec674410fb",[40560],{"_key":40561,"_type":177,"marks":40562,"text":39480},"3ac7281067010",[],[],{"_key":40565,"_type":173,"children":40566,"markDefs":40571,"style":182},"ee3a632b272f",[40567],{"_key":40568,"_type":177,"marks":40569,"text":40570},"98c113b5825c0",[],"'We are delighted to report a strong set of results for the first half and the improvement should continue for the remainder of the year. Our strategy, global position, proprietary products and improved capacities will enable us to benefit from the supply and demand, as well as the geopolitical dynamics of the oil and gas industry.'",[],{"_key":40573,"_type":173,"children":40574,"markDefs":40578,"style":182},"718dc665580f",[40575],{"_key":40576,"_type":177,"marks":40577,"text":5318},"84ce7520738a0",[],[],{"_key":40580,"_type":173,"children":40581,"markDefs":40585,"style":182},"895f1bb403a3",[40582],{"_key":40583,"_type":177,"marks":40584,"text":39612},"c9138c1e9f4a0",[],[],{"_key":40587,"_type":173,"children":40588,"markDefs":40592,"style":182},"f85057e74d95",[40589],{"_key":40590,"_type":177,"marks":40591,"text":39510},"3c3bcee5794b0",[],[],{"_key":40594,"_type":173,"children":40595,"markDefs":40599,"style":182},"fb10a18176da",[40596],{"_key":40597,"_type":177,"marks":40598,"text":10958},"ad8d436593700",[],[],{"_key":40601,"_type":173,"children":40602,"markDefs":40606,"style":182},"fa1b7541721f",[40603],{"_key":40604,"_type":177,"marks":40605,"text":39525},"09a259e8a7f50",[],[],{"_key":40608,"_type":173,"children":40609,"markDefs":40614,"style":182},"195315580b7f",[40610],{"_key":40611,"_type":177,"marks":40612,"text":40613},"05c228fcf08f0",[],"INTERIM REPORT",[],{"_key":40616,"_type":173,"children":40617,"markDefs":40622,"style":182},"643e1d6a1fad",[40618],{"_key":40619,"_type":177,"marks":40620,"text":40621},"fd6a28b4a8ee0",[],"Hunting PLC ('Hunting'), the international energy services company, announces its interim results for the six months to 30 June 2006.",[],{"_key":40624,"_type":173,"children":40625,"markDefs":40630,"style":182},"aaf390e9b647",[40626],{"_key":40627,"_type":177,"marks":40628,"text":40629},"3a4d81e613050",[],"INTRODUCTION",[],{"_key":40632,"_type":173,"children":40633,"markDefs":40638,"style":182},"07fb823fe245",[40634],{"_key":40635,"_type":177,"marks":40636,"text":40637},"c674a0bd23fe0",[],"As highlighted in the trading update issued on 21 June 2006 these interim results reflect a robust oil and gas market driven by increased drilling activity from high commodity prices, Canadian oil sands investment, global demand and reserve replacement. Furthermore, prior period capital expenditures for additional capacity and machine tool productivity enhanced the current earnings. Labour constraints remain, but price increases have offset the higher cost of staff and materials. Order books continue to improve as operators place orders well into 2007.",[],{"_key":40640,"_type":173,"children":40641,"markDefs":40646,"style":182},"9ab4d04c0018",[40642],{"_key":40643,"_type":177,"marks":40644,"text":40645},"ed52c85761560",[],"RESULTS SUMMARY",[],{"_key":40648,"_type":173,"children":40649,"markDefs":40654,"style":182},"fe4ca748ce42",[40650],{"_key":40651,"_type":177,"marks":40652,"text":40653},"d26b0e63c0f40",[],"Revenue for the six months to 30 June 2006 increased from £668.2m to £885.8m. Profit from operations increased by 72% to £38.5m (2005 - £22.4m). Profit before tax increased 85% to £35.3m (2005 - £19.1m). Basic earnings per share of 16.6p were 52% higher (2005 - 10.9p). An interim dividend of 2.3p per share (2005 - 2.0p) will be paid on 22 November 2006 to shareholders on the register at the close of business on 3 November 2006.",[],{"_key":40656,"_type":173,"children":40657,"markDefs":40662,"style":182},"48334258e2de",[40658],{"_key":40659,"_type":177,"marks":40660,"text":40661},"b650d952ebbb0",[],"OPERATIONAL OVERVIEW",[],{"_key":40664,"_type":173,"children":40665,"markDefs":40670,"style":182},"5f88edc21c25",[40666],{"_key":40667,"_type":177,"marks":40668,"text":40669},"1dabc21a87000",[],"The revenue and operating results of each division are included in the financial analysis in note 2.",[],{"_key":40672,"_type":173,"children":40673,"markDefs":40678,"style":182},"0e3d2f22c287",[40674],{"_key":40675,"_type":177,"marks":40676,"text":40677},"166ff3c216a90",[],"GIBSON ENERGY",[],{"_key":40680,"_type":173,"children":40681,"markDefs":40686,"style":182},"af3d4d1e2788",[40682],{"_key":40683,"_type":177,"marks":40684,"text":40685},"3c51ed6235b10",[],"Gibson Energy, based in Alberta, Canada and one of Canada's premier mid-stream energy service companies providing marketing services, truck transportation, processing and distribution achieved an excellent result with profit from operations for the six months increasing by 74% from £12.7m to £22.1m. The Canadian oil and gas industry continues to attract further investment due to expanded activities in the tar sands as well as conventional exploration and production. Accordingly, larger olumes are available for truck transport, pipelines and terminals. In addition, the Moose Jaw assets have seen a significant turnaround as asphalt prices have improved year on year and the growing segments of tops and wellsite fluids are now 50% of the refinery's output. The differentials between heavy\u002Fsour and light crude oil pricing, as well as diluent, have enabled Gibson to utilise the synergies of its terminals, pipelines and storage assets. With an additional 310,000 barrels of crude storage commissioned in January 2006, the company is well positioned to capitalise on growing volumes from the tar sands.",[],{"_key":40688,"_type":173,"children":40689,"markDefs":40694,"style":182},"1ee2ea76152d",[40690],{"_key":40691,"_type":177,"marks":40692,"text":40693},"c640575d16c10",[],"Marketing achieved an excellent result for the period due to continued volatility in the oil price markets and its quality management of the 20-plus crude streams produced in Alberta. In addition, it has xpertly managed its inventories through volatile price swings. However, profit from operations did not match the record result in the corresponding period in 2005 and were lower by 11% at £7.8m (2005 - £8.8m).",[],{"_key":40696,"_type":173,"children":40697,"markDefs":40702,"style":182},"853e5df99e2b",[40698],{"_key":40699,"_type":177,"marks":40700,"text":40701},"4a4ccbd3d8f30",[],"Truck Transportation had exceptional improvement from operations increased by 128% to £4.1m (2005 - £1.8m).",[],{"_key":40704,"_type":173,"children":40705,"markDefs":40710,"style":182},"79fd190e330c",[40706],{"_key":40707,"_type":177,"marks":40708,"text":40709},"f0232ae3ce960",[],"Terminals and Pipelines have continued to see increased overall activity in the region. Profit from operations were down 8% to £2.2m (2005 - £2.4m).",[],{"_key":40712,"_type":173,"children":40713,"markDefs":40718,"style":182},"f33ed29f80f2",[40714],{"_key":40715,"_type":177,"marks":40716,"text":40717},"7c82219ab53a0",[],"Canwest Propane and Natural Gas Liquids ('NGL') benefited from a further acquisition and saw an increase of 20% in profit from operations to £1.8m (2005 - £1.5m). Plans include expansion into the Northern U.S.",[],{"_key":40720,"_type":173,"children":40721,"markDefs":40726,"style":182},"5e8f914a2034",[40722],{"_key":40723,"_type":177,"marks":40724,"text":40725},"4ae02eb458a50",[],"Moose Jaw Asphalt's results from operations significantly improved from a loss of £1.8m to a profit of £6.2m in the current period.",[],{"_key":40728,"_type":173,"children":40729,"markDefs":40734,"style":182},"8434537fdd78",[40730],{"_key":40731,"_type":177,"marks":40732,"text":40733},"3676afd9320e0",[],"Gibson Energy is strategically positioned with its geographic assets and additional capacities to experience further growth in an area which the heavy oil production is expected to triple in the next seven years. The performance of its marketing division will continue to remain dependent upon crude differentials and blending opportunities throughout the period.",[],{"_key":40736,"_type":173,"children":40737,"markDefs":40742,"style":182},"22b4c0c32ab1",[40738],{"_key":40739,"_type":177,"marks":40740,"text":40741},"1b792a5cc0520",[],"HUNTING ENERGY SERVICES",[],{"_key":40744,"_type":173,"children":40745,"markDefs":40750,"style":182},"64f167eb685b",[40746],{"_key":40747,"_type":177,"marks":40748,"text":40749},"b85da134dc130",[],"Hunting Energy Services, with its global footprint, is a supplier of products and services to the upstream oil and gas companies. Profit from operations in the first half increased 75% from £9.2m to £16.1m.",[],{"_key":40752,"_type":173,"children":40753,"markDefs":40758,"style":182},"6540fd477c87",[40754],{"_key":40755,"_type":177,"marks":40756,"text":40757},"c0d2df43ba7d0",[],"The U.S. rig count at the end of the first half was at a 20 year high of 1,665 and the international rig count at a 15 year high of 906. Activity in Canada remained strong during the period concluding with 408 rigs. Hunting Energy Services' well construction and well completion products and services have a continued strong demand due to higher consumption per rig as a result of increased drilling efficiencies on top of improvement in rig numbers. The near and long term demand forecasts by independent agencies for oil, natural gas and electricity predict sustained demand growth. Several drilling contractors and E&P companies have indicated commitments to refurbish or build new rigs to be in service over the next 18 to 24 months. These are both land and offshore units, U.S. and international. Well completions are also deeper year on year in more complex proprietary and higher cost products. While costs have risen for oil and gas exploration companies, so too have their capital expenditure budgets to replace dwindling reserves and to locate new reservoirs of hydrocarbons.",[],{"_key":40760,"_type":173,"children":40761,"markDefs":40766,"style":182},"65b7bd602123",[40762],{"_key":40763,"_type":177,"marks":40764,"text":40765},"06320a55237f0",[],"Well Completion - Profit from operations increased 140% to £10.3m (2005 - £4.3m).",[],{"_key":40768,"_type":173,"children":40769,"markDefs":40774,"style":182},"3465b08e5d74",[40770],{"_key":40771,"_type":177,"marks":40772,"text":40773},"b849895fb7ee0",[],"Well Construction - Profit from operations increased 54% to £4.0m (2005 - £2.6m).",[],{"_key":40776,"_type":173,"children":40777,"markDefs":40782,"style":182},"d976c363d33f",[40778],{"_key":40779,"_type":177,"marks":40780,"text":40781},"d7c96caa7bfc0",[],"Exploration and Production - There were 10 out of 13 wells successfully completed during the period. Due to the effects of Hurricane Katrina, full production capacity is not expected until the second half of 2006. Profit from operations was £1.8m (2005 - £2.3m).",[],{"_key":40784,"_type":173,"children":40785,"markDefs":40790,"style":182},"fb3e8fd5999b",[40786],{"_key":40787,"_type":177,"marks":40788,"text":40789},"24bf3e0d65ad0",[],"New facilities, which were completed in January for Singapore, combined with new offices in Russia and the Middle East, plus production capacity added in the Gulf coast will provide the continuing growth potential for Hunting Energy Services for the remainder of the year.",[],{"_key":40792,"_type":173,"children":40793,"markDefs":40798,"style":182},"46369d2c2cc9",[40794],{"_key":40795,"_type":177,"marks":40796,"text":40797},"2960ca5d9fa80",[],"OTHERS",[],{"_key":40800,"_type":173,"children":40801,"markDefs":40806,"style":182},"446e75806d5e",[40802],{"_key":40803,"_type":177,"marks":40804,"text":40805},"076714a4e9890",[],"Other operating divisions, including Gibson Shipbrokers and Hunting Energy France experienced a decline in profit from operations from £0.5m in 2005 to £0.3m in the current period.",[],{"_key":40808,"_type":173,"children":40809,"markDefs":40814,"style":182},"9e01b27b902e",[40810],{"_key":40811,"_type":177,"marks":40812,"text":40813},"802123a848360",[],"KEY FINANCIAL POINTS",[],{"_key":40816,"_type":173,"children":40817,"level":955,"listItem":2555,"markDefs":40822,"style":182},"114c5346f270",[40818],{"_key":40819,"_type":177,"marks":40820,"text":40821},"d1998a2445710",[],"EBITDA £51.5m (2005 - £32.9m)",[],{"_key":40824,"_type":173,"children":40825,"level":955,"listItem":2555,"markDefs":40830,"style":182},"b0025aa2e213",[40826],{"_key":40827,"_type":177,"marks":40828,"text":40829},"7cad1f131d770",[],"Capital expenditure for the six month period to 30 June 2006 was £25.8m (2005 - £16.6m)",[],{"_key":40832,"_type":173,"children":40833,"level":955,"listItem":2555,"markDefs":40838,"style":182},"38e115d79a76",[40834],{"_key":40835,"_type":177,"marks":40836,"text":40837},"f52d1f196c7f0",[],"Depreciation and amortisation £12.5m (2005 - £10.5m)",[],{"_key":40840,"_type":173,"children":40841,"level":955,"listItem":2555,"markDefs":40846,"style":182},"0bd8eda7a434",[40842],{"_key":40843,"_type":177,"marks":40844,"text":40845},"c5dd9f13fde70",[],"Net debt £109.6m (2005 - £137.8m)",[],{"_key":40848,"_type":173,"children":40849,"level":955,"listItem":2555,"markDefs":40854,"style":182},"3c1ca79fad1e",[40850],{"_key":40851,"_type":177,"marks":40852,"text":40853},"2aa87dd320d90",[],"Gearing 55% (2005 - 108%)",[],{"_key":40856,"_type":173,"children":40857,"level":955,"listItem":2555,"markDefs":40862,"style":182},"c863dce5ae00",[40858],{"_key":40859,"_type":177,"marks":40860,"text":40861},"181c22a4f6690",[],"Total assets £725.3m (2005 - £580.1m)",[],{"_key":40864,"_type":173,"children":40865,"level":955,"listItem":2555,"markDefs":40870,"style":182},"584d370e00e7",[40866],{"_key":40867,"_type":177,"marks":40868,"text":40869},"1a857cf14c9f0",[],"Total equity £197.5m (2005 - £127.8m)",[],{"_key":40872,"_type":173,"children":40873,"markDefs":40878,"style":182},"8cc0be47a25e",[40874],{"_key":40875,"_type":177,"marks":40876,"text":40877},"5495400383ac0",[],"OUTLOOK",[],{"_key":40880,"_type":173,"children":40881,"markDefs":40886,"style":182},"95537cac3f78",[40882],{"_key":40883,"_type":177,"marks":40884,"text":40885},"0897806c89720",[],"We are delighted to report a strong set of results for the first half and the improvement should continue for the remainder of the year. For Hunting Energy Services, manufacturing schedules and tubular deliveries are in place with known margins. Rig activity is forecast to grow and operators are committed to their capital expenditure plans. Gibson Energy also has a measured view of confidence towards its year end results. The marketing division, however, will remain dependent upon light and heavy crude price differentials as well as diluent prices and availability. Our strategy, global position, proprietary products and improved capacities will enable us to benefit from the supply and demand, as well as the geopolitical dynamics of the oil and gas industry.",[],{"_key":40888,"_type":173,"children":40889,"markDefs":40894,"style":182},"ff18036c202f",[40890],{"_key":40891,"_type":177,"marks":40892,"text":40893},"7e0b1647ed2c0",[],"Richard Hunting\nChairman",[],{"_key":40896,"_type":173,"children":40897,"markDefs":40902,"style":182},"dabed08fb273",[40898],{"_key":40899,"_type":177,"marks":40900,"text":40901},"93a5aff3bd010",[],"Dennis Proctor\nChief Executive",[],{"_key":40904,"_type":173,"children":40905,"markDefs":40910,"style":182},"7b675a1161d5",[40906],{"_key":40907,"_type":177,"marks":40908,"text":40909},"e6664bcca7f50",[],"31 August 2006",[],[40912],{"_key":39638,"_ref":1713,"_type":141},"Hunting PLC, the international energy services company, today announces its interim results for the six months to 30 June 2006.","2006-08-31T10:02:00.000Z",{"_type":9,"current":40916},"31-08-2006",[40918,40919],{"_key":39645,"_ref":7180,"_type":141},{"_key":39647,"_ref":15507,"_type":141},"Hunting PLC Interim results","\u002Fnews\u002F31-08-2006",{"_createdAt":40923,"_id":40924,"_rev":13935,"_type":168,"_updatedAt":116,"body":40925,"categories":41002,"introText":40932,"publishedAt":41004,"slug":41005,"tags":41007,"title":39192,"url":41010},"2023-02-21T11:13:19Z","1e862f4f-32cd-46e6-92e9-1cbb653a7534",[40926,40934,40942,40950,40958,40966,40973,40981,40988,40995],{"_key":40927,"_type":173,"children":40928,"markDefs":40933,"style":182},"e14c4b9ee507",[40929],{"_key":40930,"_type":177,"marks":40931,"text":40932},"a0f2b977641b0",[],"The favourable trading conditions highlighted in the recent AGM Trading Statement have continued. As a result, the Board now expects the Group's profit for the full year to exceed current market expectations.",[],{"_key":40935,"_type":173,"children":40936,"markDefs":40941,"style":182},"d4ed68eeb0ea",[40937],{"_key":40938,"_type":177,"marks":40939,"text":40940},"74703d7f675a0",[],"Dennis Proctor, Hunting's Chief Executive, said: \"Global drilling activity, Canadian heavy oil deliveries, oil and gas prices continue to be strong due to world energy demand and reserve replacement. In Gibson Energy, Truck Transportation is benefiting from heavy oil production growth. Marketing, as always, has increasing opportunities in a volatile market. The new Edmonton North Terminal is now fully operational. Moose Jaw Asphalt has made a significant contribution to Gibson earnings due to improving well site fluids margin and rising asphalt prices.",[],{"_key":40943,"_type":173,"children":40944,"markDefs":40949,"style":182},"47f4c6d5cb4d",[40945],{"_key":40946,"_type":177,"marks":40947,"text":40948},"143f65777d3b0",[],"In Hunting Energy, increased drilling activity throughout the world has benefited all products and services in both well construction and well completion divisions. Price increases continue as operators view delivery as a higher priority. Order books remain strong with some deliveries extending into 2007.",[],{"_key":40951,"_type":173,"children":40952,"markDefs":40957,"style":182},"1499e12f6d68",[40953],{"_key":40954,"_type":177,"marks":40955,"text":40956},"8016c4c115330",[],"Capital expenditure for new business committed in prior months combined with a robust market is providing confidence in our outlook for 2006 and into 2007.\"",[],{"_key":40959,"_type":173,"children":40960,"markDefs":40965,"style":182},"7beb1989afa9",[40961],{"_key":40962,"_type":177,"marks":40963,"text":40964},"e4584d39b9280",[],"The Interim Results for the six months to 30 June 2006 will be announced on Thursday, 31 August 2006.",[],{"_key":40967,"_type":173,"children":40968,"markDefs":40972,"style":182},"916c2892e215",[40969],{"_key":40970,"_type":177,"marks":40971,"text":5318},"ea59f06341190",[],[],{"_key":40974,"_type":173,"children":40975,"markDefs":40980,"style":182},"005466a72725",[40976],{"_key":40977,"_type":177,"marks":40978,"text":40979},"3c9422ff63530",[],"Hunting PLC\nDennis Proctor, Group Chief Executive\nDennis Clark, Group Finance Director Tel: 020 7321 0123",[],{"_key":40982,"_type":173,"children":40983,"markDefs":40987,"style":182},"8740b1974f35",[40984],{"_key":40985,"_type":177,"marks":40986,"text":39510},"b35905b5a5f30",[],[],{"_key":40989,"_type":173,"children":40990,"markDefs":40994,"style":182},"3e44319494ca",[40991],{"_key":40992,"_type":177,"marks":40993,"text":10958},"3596d01889290",[],[],{"_key":40996,"_type":173,"children":40997,"markDefs":41001,"style":182},"e84713347692",[40998],{"_key":40999,"_type":177,"marks":41000,"text":39525},"175e1320325f0",[],[],[41003],{"_key":39638,"_ref":1713,"_type":141},"2006-06-21T10:02:00.000Z",{"_type":9,"current":41006},"21-06-2006",[41008,41009],{"_key":39645,"_ref":7180,"_type":141},{"_key":39647,"_ref":10968,"_type":141},"\u002Fnews\u002F21-06-2006",{"_createdAt":41012,"_id":41013,"_rev":12752,"_type":168,"_updatedAt":116,"body":41014,"categories":41140,"introText":41143,"publishedAt":41144,"slug":41145,"tags":41147,"title":41150,"url":41151},"2023-02-20T15:11:49Z","e60d8d72-45d4-4e16-b252-2ff4a2bf5a8b",[41015,41023,41039,41047,41054,41058,41076,41083,41099,41107,41125,41132],{"_key":41016,"_type":173,"children":41017,"markDefs":41022,"style":14843},"e5c1857b15c8",[41018],{"_key":41019,"_type":177,"marks":41020,"text":41021},"f1074341b6150",[],"Houston May 2, 2016 - Padaric Kolander wins 2016 Hunting Art Prize",[],{"_key":41024,"_type":173,"children":41025,"markDefs":41038,"style":182},"67a203d4ef7b",[41026,41030,41034],{"_key":41027,"_type":177,"marks":41028,"text":41029},"13ab3884356a0",[],"Hunting PLC announces that ",{"_key":41031,"_type":177,"marks":41032,"text":41033},"13ab3884356a1",[216],"You Step In",{"_key":41035,"_type":177,"marks":41036,"text":41037},"13ab3884356a2",[]," by Houston artist Padaric Kolander is the winner of the $50,000 Hunting Art Prize for 2016. The 42\" by 64\" drawing was made with graphite, charcoal, and acrylic on paper. It was selected from over 100 finalists in the 36th annual award program, which is sponsored by the global oil services company and is the most generous annual art prize in North America for painting and drawing.",[],{"_key":41040,"_type":173,"children":41041,"markDefs":41046,"style":182},"6912ba5a4db4",[41042],{"_key":41043,"_type":177,"marks":41044,"text":41045},"4090e846cf620",[],"Kolander has been a finalist of the competition for the last three consecutive years. The announcement of his win was made during an evening awards gala on Saturday, April 30, at the Friedkin Corporate Campus, Gulf States Toyota, in Houston. \"Words cannot express how honoured and humbled I am to be chosen as the winner of the 2016 Hunting Art Prize,\" said Kolander. \"Having been a finalist for the last few years makes this moment all the more rewarding. It's a true privilege to be selected from such a remarkably talented group of artists.\"",[],{"_key":41048,"_type":173,"children":41049,"markDefs":41053,"style":182},"ff8107832eb1",[41050],{"_key":41051,"_type":177,"marks":41052,"text":180},"b8b9a0f1b51f",[],[],{"_key":41055,"_type":146,"asset":41056},"8c53bdc4157c",{"_ref":41057,"_type":141},"image-f775845460fddb048a50c9fb5abbc70eb7e82631-323x211-png",{"_key":41059,"_type":173,"children":41060,"markDefs":41073,"style":182},"a947ad4c654a",[41061,41065,41070],{"_key":41062,"_type":177,"marks":41063,"text":41064},"8025512c67570",[],"Dennis Proctor, CEO of Hunting, said, \"I couldn't be more pleased to see a long-time finalist like Padaric win this year's competition. He is a remarkably talented individual, and his creative contributions certainly speak for themselves.\" Kolander's drawings have been described as \"intense\" and \"thoughtful look[s] toward the future.\" His works explore open-ended themes of ignorance, contradiction, and cynicism, and they often include text that is purposefully juxtaposed, but typically out of context, to be freely interpreted by the viewer. Kolander has participated in a number of group exhibitions in Texas, Louisiana, and Georgia. He earned a Bachelor of Fine Arts from Eastern New Mexico University in Portales. For more information on Kolander, visit ",{"_key":41066,"_type":177,"marks":41067,"text":41069},"8025512c67571",[41068],"199bfcfa6739","www.padarickolander.com",{"_key":41071,"_type":177,"marks":41072,"text":3208},"8025512c67572",[],[41074],{"_key":41068,"_type":138,"href":41075},"http:\u002F\u002Fwww.padarickolander.com\u002F",{"_key":41077,"_type":173,"children":41078,"markDefs":41082,"style":14843},"74033cbf03a8",[41079],{"_key":41080,"_type":177,"marks":41081,"text":31405},"26240074ce1d0",[],[],{"_key":41084,"_type":173,"children":41085,"markDefs":41097,"style":182},"1a87be43c8e8",[41086,41090,41094],{"_key":41087,"_type":177,"marks":41088,"text":41089},"c0f1eb20516d0",[],"The Hunting Art Prize is open to artists throughout Texas who are 18 years of age or older. This year's competition saw nearly 1,600 entries from a number of cities and towns throughout the state. Submissions underwent a two-tiered jury process, after which nationally respected judges from Florida, New York, and Texas selected Kolander's work as the winner. For more information on the prize, visit ",{"_key":41091,"_type":177,"marks":41092,"text":30067},"c0f1eb20516d1",[41093],"46a5dd1ee08f",{"_key":41095,"_type":177,"marks":41096,"text":3208},"c0f1eb20516d2",[],[41098],{"_key":41093,"_type":138,"href":30070},{"_key":41100,"_type":173,"children":41101,"markDefs":41106,"style":14843},"510df48d6550",[41102],{"_key":41103,"_type":177,"marks":41104,"text":41105},"230433c634d70",[],"Hunting Art Prize Charity",[],{"_key":41108,"_type":173,"children":41109,"markDefs":41122,"style":182},"d6329d5934ec",[41110,41114,41119],{"_key":41111,"_type":177,"marks":41112,"text":41113},"ff07e9cacb860",[],"On behalf of the 2016 competition, Hunting PLC will present a charitable contribution at an upcoming event to Patriot PAWS Service Dogs. The non-profit organisation is dedicated to inspiring and restoring the physical and emotional independence of disabled veterans and others with mobile disabilities by providing service dogs at no cost. Depending on the needs of each individual, service dogs complete a customised training programme and learn to perform a variety of functions, including supporting patients with post-traumatic stress disorder. For further information, visit ",{"_key":41115,"_type":177,"marks":41116,"text":41118},"ff07e9cacb861",[41117],"8321ae204844","http:\u002F\u002Fpatriotpaws.org",{"_key":41120,"_type":177,"marks":41121,"text":3208},"ff07e9cacb862",[],[41123],{"_key":41117,"_type":138,"href":41124},"http:\u002F\u002Fpatriotpaws.org\u002F",{"_key":41126,"_type":173,"children":41127,"markDefs":41131,"style":14843},"4078f4bed121",[41128],{"_key":41129,"_type":177,"marks":41130,"text":12234},"e6439eaf29b10",[],[],{"_key":41133,"_type":173,"children":41134,"markDefs":41139,"style":182},"7a66848163d1",[41135],{"_key":41136,"_type":177,"marks":41137,"text":41138},"44c4183fb7510",[],"Hunting PLC is an international energy services provider to the world's leading upstream oil and gas companies. Established in 1874, it is a premium listed public company traded on the London Stock Exchange. The Company maintains a corporate office in Houston and is headquartered in London. As well as the United Kingdom, the Company has principal operations in Canada, China, Indonesia, Kenya, Mexico, the Netherlands, Saudi Arabia South Africa, Singapore, the United Arab Emirates, and the United States of America.",[],[41141],{"_key":41142,"_ref":1713,"_type":141},"66553d7f9b62","Hunting PLC announced that You Step In by Houston artist Padaric Kolander is the winner of the $50,000 Hunting Art Prize for 2016.","2006-05-02T10:13:00.000Z",{"_type":9,"current":41146},"02-05-2016",[41148],{"_key":41149,"_ref":28088,"_type":141},"57f2f250a575","Padaric Kolander wins 2016 Hunting Art Prize","\u002Fnews\u002F02-05-2016",{"_createdAt":41153,"_id":41154,"_rev":13935,"_type":168,"_updatedAt":116,"body":41155,"categories":41323,"introText":41325,"publishedAt":41326,"slug":41327,"tags":41329,"title":41332,"url":41333},"2023-02-21T11:14:32Z","8adf1caa-f0e7-4e99-9d00-aa012d4e9130",[41156,41164,41171,41179,41186,41194,41201,41209,41216,41224,41231,41239,41246,41254,41261,41269,41276,41284,41291,41299,41307,41315],{"_key":41157,"_type":173,"children":41158,"markDefs":41163,"style":182},"3e849628d68b",[41159],{"_key":41160,"_type":177,"marks":41161,"text":41162},"59b6b075c7810",[],"The results from the poll on the resolutions set before the Annual General Meeting of Hunting PLC on 26 April 2006 were:",[],{"_key":41165,"_type":173,"children":41166,"markDefs":41170,"style":182},"24c0ef633875",[41167],{"_key":41168,"_type":177,"marks":41169,"text":39985},"1d41ab95f9b30",[],[],{"_key":41172,"_type":173,"children":41173,"markDefs":41178,"style":182},"b55c5e1b8a70",[41174],{"_key":41175,"_type":177,"marks":41176,"text":41177},"74f7fef2dcbb0",[],"To receive the Directors' Report and Accounts\nFor\u002FDiscretion 91,956,474 Against 1,627 Abstain 197,638",[],{"_key":41180,"_type":173,"children":41181,"markDefs":41185,"style":182},"4d31716ac9ee",[41182],{"_key":41183,"_type":177,"marks":41184,"text":40001},"2892a42db8fd0",[],[],{"_key":41187,"_type":173,"children":41188,"markDefs":41193,"style":182},"34fb8c1b5a45",[41189],{"_key":41190,"_type":177,"marks":41191,"text":41192},"7ce54e95808e0",[],"To approve the Remuneration Committee's Report\nFor\u002FDiscretion 73,504,947 Against 16,804,967 Abstain 1,845,825",[],{"_key":41195,"_type":173,"children":41196,"markDefs":41200,"style":182},"5daac612b9a7",[41197],{"_key":41198,"_type":177,"marks":41199,"text":40017},"22bd960c6aa50",[],[],{"_key":41202,"_type":173,"children":41203,"markDefs":41208,"style":182},"5e673e2e386c",[41204],{"_key":41205,"_type":177,"marks":41206,"text":41207},"124b14924b2c0",[],"To declare a final dividend of 4.0p per share\nFor\u002FDiscretion 92,153,116 Against 1,623 Abstain 1,000",[],{"_key":41210,"_type":173,"children":41211,"markDefs":41215,"style":182},"e32c371cf1fa",[41212],{"_key":41213,"_type":177,"marks":41214,"text":40033},"9a996fd65c080",[],[],{"_key":41217,"_type":173,"children":41218,"markDefs":41223,"style":182},"10108de3eef4",[41219],{"_key":41220,"_type":177,"marks":41221,"text":41222},"dc3d78589d830",[],"To re-elect Dennis Clark as a Director\nFor\u002FDiscretion 92,049,336 Against 106,099 Abstain 304",[],{"_key":41225,"_type":173,"children":41226,"markDefs":41230,"style":182},"13c75885dfc2",[41227],{"_key":41228,"_type":177,"marks":41229,"text":40049},"304243da2db00",[],[],{"_key":41232,"_type":173,"children":41233,"markDefs":41238,"style":182},"fa093f4a9fce",[41234],{"_key":41235,"_type":177,"marks":41236,"text":41237},"07a0f917cfa20",[],"To re-elect Hector McFadyen as a Director\nFor\u002FDiscretion 90,272,675 Against 1,882,760 Abstain 304",[],{"_key":41240,"_type":173,"children":41241,"markDefs":41245,"style":182},"a6bfccfcae0f",[41242],{"_key":41243,"_type":177,"marks":41244,"text":40065},"fd509629dd300",[],[],{"_key":41247,"_type":173,"children":41248,"markDefs":41253,"style":182},"a9c7df41b6b2",[41249],{"_key":41250,"_type":177,"marks":41251,"text":41252},"88c51f3c4b940",[],"To reappoint PricewaterhouseCoopers LLP as Auditors and authorise the Directors to determine their remuneration\nFor\u002FDiscretion 91,703,438 Against 266,395 Abstain 185,906",[],{"_key":41255,"_type":173,"children":41256,"markDefs":41260,"style":182},"f0fbdc96d543",[41257],{"_key":41258,"_type":177,"marks":41259,"text":40081},"126be52d58580",[],[],{"_key":41262,"_type":173,"children":41263,"markDefs":41268,"style":182},"71c55150d891",[41264],{"_key":41265,"_type":177,"marks":41266,"text":41267},"393e2b38335a0",[],"To authorise the Directors to allot shares\nFor\u002FDiscretion 91,523,654 Against 616,218 Abstain 15,867",[],{"_key":41270,"_type":173,"children":41271,"markDefs":41275,"style":182},"a7a595ee6aa7",[41272],{"_key":41273,"_type":177,"marks":41274,"text":40097},"db31d99ab67d0",[],[],{"_key":41277,"_type":173,"children":41278,"markDefs":41283,"style":182},"53be76b09f4d",[41279],{"_key":41280,"_type":177,"marks":41281,"text":41282},"4dd127c1660e0",[],"Special resolution: To authorise the Directors to disapply statutory pre-emption rights\nFor\u002FDiscretion 90,974,475 Against 48,358 Abstain 1,132,906",[],{"_key":41285,"_type":173,"children":41286,"markDefs":41290,"style":182},"8ca68e44a365",[41287],{"_key":41288,"_type":177,"marks":41289,"text":40113},"6781c345b2fc0",[],[],{"_key":41292,"_type":173,"children":41293,"markDefs":41298,"style":182},"013b32221616",[41294],{"_key":41295,"_type":177,"marks":41296,"text":41297},"e41fca930de70",[],"Special resolution to authorise the Company to purchase its own shares\nFor\u002FDiscretion 92,118,149 Against 6,409 Abstain 31,181",[],{"_key":41300,"_type":173,"children":41301,"markDefs":41306,"style":182},"5970fad915c4",[41302],{"_key":41303,"_type":177,"marks":41304,"text":41305},"b94d2c3ec40b0",[],"Resolutions 1 - 9 were carried.",[],{"_key":41308,"_type":173,"children":41309,"markDefs":41314,"style":182},"fc9118d914c7",[41310],{"_key":41311,"_type":177,"marks":41312,"text":41313},"0f731a31d6910",[],"Shares in Issue 129,951,092",[],{"_key":41316,"_type":173,"children":41317,"markDefs":41322,"style":182},"8fe68c4c3ce4",[41318],{"_key":41319,"_type":177,"marks":41320,"text":41321},"968c878ba3a10",[],"Peter Rose\nCompany Secretary\n26 April 2006",[],[41324],{"_key":39638,"_ref":1713,"_type":141},"The results from the poll on the resolutions set before the Annual General Meeting of Hunting PLC on 26 April 2006 were","2006-04-26T10:02:00.000Z",{"_type":9,"current":41328},"26-04-2006",[41330,41331],{"_key":39645,"_ref":7180,"_type":141},{"_key":39647,"_ref":35416,"_type":141},"Hunting PLC AGM Poll Result","\u002Fnews\u002F26-04-2006",{"_createdAt":41335,"_id":41336,"_rev":27898,"_type":168,"_updatedAt":27899,"body":41337,"categories":41405,"introText":41407,"publishedAt":41326,"slug":41408,"tags":41410,"title":39958,"url":41413},"2023-02-21T11:16:25Z","d0aadb39-7cfe-4378-bbce-29f01a608c05",[41338,41346,41354,41362,41370,41377,41384,41391,41398],{"_key":41339,"_type":173,"children":41340,"markDefs":41345,"style":182},"a2021b8433b1",[41341],{"_key":41342,"_type":177,"marks":41343,"text":41344},"1641229849f90",[],"Hunting PLC, the international energy services company, will be holding its AGM today. Richard Hunting, Chairman of Hunting, will be making the following statement:",[],{"_key":41347,"_type":173,"children":41348,"markDefs":41353,"style":182},"033e16a426b8",[41349],{"_key":41350,"_type":177,"marks":41351,"text":41352},"278d1667c2fc0",[],"\"Hunting's first quarter results reflect a continuation of the strong activity experienced throughout 2005. Oil and gas companies have increased their capital expenditure to offset weak reserve replacement resulting in additional growth opportunities for the oil service industry. Our order books are strong, profit margins are increasing and the current year will see a full year of the benefits from the investments in additional capacity made in 2005.",[],{"_key":41355,"_type":173,"children":41356,"markDefs":41361,"style":182},"5289cda7e75b",[41357],{"_key":41358,"_type":177,"marks":41359,"text":41360},"6136c5bec3160",[],"Gibson Energy's truck transportation continues to profit from the heavy oil expansion projects in Alberta, Canada. Its marketing activities, including Moose Jaw Asphalt, are benefiting from the continued volatility in the differentials between heavy and light crude oil prices. Hunting Energy's performance is being driven by increased drilling activities worldwide. Tenkay has high commodity prices and is fully operational following the hurricane disruption last year.",[],{"_key":41363,"_type":173,"children":41364,"markDefs":41369,"style":182},"7646687c70f5",[41365],{"_key":41366,"_type":177,"marks":41367,"text":41368},"f5827952b5ba0",[],"Overall, trading is in line with the Board's expectations. We expect the strong trading conditions will continue for the remainder of 2006 and the Board continues to view the future with confidence.\"",[],{"_key":41371,"_type":173,"children":41372,"markDefs":41376,"style":182},"66caafc2e9e0",[41373],{"_key":41374,"_type":177,"marks":41375,"text":5318},"cfa9cc15ae750",[],[],{"_key":41378,"_type":173,"children":41379,"markDefs":41383,"style":182},"80827ffb4fe7",[41380],{"_key":41381,"_type":177,"marks":41382,"text":39833},"c43fcfb822c50",[],[],{"_key":41385,"_type":173,"children":41386,"markDefs":41390,"style":182},"1103122924a4",[41387],{"_key":41388,"_type":177,"marks":41389,"text":39510},"dca2227c48020",[],[],{"_key":41392,"_type":173,"children":41393,"markDefs":41397,"style":182},"a38fe6424473",[41394],{"_key":41395,"_type":177,"marks":41396,"text":10958},"67488c507c0d0",[],[],{"_key":41399,"_type":173,"children":41400,"markDefs":41404,"style":182},"d1979ad044e7",[41401],{"_key":41402,"_type":177,"marks":41403,"text":39525},"36e8158041d40",[],[],[41406],{"_key":39638,"_ref":1713,"_type":141},"Hunting PLC, the international energy services company, will be holding its AGM today. Richard Hunting, Chairman of Hunting, will be making the following statement.",{"_type":9,"current":41409},"26-04-2006a",[41411,41412],{"_key":39645,"_ref":7180,"_type":141},{"_key":39647,"_ref":10968,"_type":141},"\u002Fnews\u002F26-04-2006a",{"_createdAt":41415,"_id":41416,"_rev":10453,"_type":168,"_updatedAt":116,"body":41417,"categories":41531,"introText":41533,"publishedAt":41534,"slug":41535,"tags":41537,"title":41540,"url":41541},"2023-02-21T11:17:09Z","bc820318-2319-47c7-a572-6741b9a3b449",[41418,41425,41433,41441,41449,41457,41465,41473,41480,41488,41496,41503,41510,41517,41524],{"_key":41419,"_type":173,"children":41420,"markDefs":41424,"style":182},"599a38688a0f",[41421],{"_key":41422,"_type":177,"marks":41423,"text":20410},"7c3fe8b95b800",[],[],{"_key":41426,"_type":173,"children":41427,"markDefs":41432,"style":182},"266982152882",[41428],{"_key":41429,"_type":177,"marks":41430,"text":41431},"9f640197762f0",[],"Hunting PLC ('Hunting', the 'Group' or the 'Company'), the international energy services company, today announces its preliminary results for the year ended 31 December 2005.",[],{"_key":41434,"_type":173,"children":41435,"level":955,"listItem":2555,"markDefs":41440,"style":182},"ec9558b71c47",[41436],{"_key":41437,"_type":177,"marks":41438,"text":41439},"e32d83df8a540",[],"Turnover £1,521.9m (2004: £1,159.4m) +31%",[],{"_key":41442,"_type":173,"children":41443,"level":955,"listItem":2555,"markDefs":41448,"style":182},"532092a392bc",[41444],{"_key":41445,"_type":177,"marks":41446,"text":41447},"6118fa7a40540",[],"Total operating profit £44.9m (2004: £20.8m) +116%",[],{"_key":41450,"_type":173,"children":41451,"level":955,"listItem":2555,"markDefs":41456,"style":182},"4d398bb7f2e3",[41452],{"_key":41453,"_type":177,"marks":41454,"text":41455},"77d015d5a8a40",[],"Pre-tax profit £40.9m (2004: £16.5m) +148%",[],{"_key":41458,"_type":173,"children":41459,"level":955,"listItem":2555,"markDefs":41464,"style":182},"fd06d07471ee",[41460],{"_key":41461,"_type":177,"marks":41462,"text":41463},"8197a2ea0fd10",[],"Basic earnings per share 21.2p per share (2004: 7.9p) +168%",[],{"_key":41466,"_type":173,"children":41467,"level":955,"listItem":2555,"markDefs":41472,"style":182},"848ff394932e",[41468],{"_key":41469,"_type":177,"marks":41470,"text":41471},"f2193001666c0",[],"Final Dividend Per Share 4.0p (2004 : 3.0p) payable on 29th June 2006 +33%",[],{"_key":41474,"_type":173,"children":41475,"markDefs":41479,"style":182},"ae7bf2e0bd89",[41476],{"_key":41477,"_type":177,"marks":41478,"text":39480},"63e7377d2d730",[],[],{"_key":41481,"_type":173,"children":41482,"markDefs":41487,"style":182},"3ed9519ce52c",[41483],{"_key":41484,"_type":177,"marks":41485,"text":41486},"97afe9f1d9410",[],"'The industry forecasts a continuation of 2005 activity certainly through 2006. Major oil and gas operators have raised their expenditures to levels higher thanprevious years not only for cost increases in drilling and related services, but also for additional investment in well completions and heavy oil projects. Our investment in new projects in 2005 will enable us to meet the customers' growing demands. We believe our timing and execution of a distinctive business strategy has been excellent and will continue to deliver shareholder value.",[],{"_key":41489,"_type":173,"children":41490,"markDefs":41495,"style":182},"0c6be12cc673",[41491],{"_key":41492,"_type":177,"marks":41493,"text":41494},"f6b207ef1ec20",[],"With a strengthened balance sheet, well positioned assets, additional capacity and successful performance trend, Hunting PLC looks forward to the growth opportunities available in 2006.'",[],{"_key":41497,"_type":173,"children":41498,"markDefs":41502,"style":182},"afff2bee357b",[41499],{"_key":41500,"_type":177,"marks":41501,"text":5318},"b0c2158954d00",[],[],{"_key":41504,"_type":173,"children":41505,"markDefs":41509,"style":182},"dcd6caa55195",[41506],{"_key":41507,"_type":177,"marks":41508,"text":39612},"4635fee043a80",[],[],{"_key":41511,"_type":173,"children":41512,"markDefs":41516,"style":182},"bca196ea7993",[41513],{"_key":41514,"_type":177,"marks":41515,"text":39510},"36f3fbf644e10",[],[],{"_key":41518,"_type":173,"children":41519,"markDefs":41523,"style":182},"ccc2e4b5f65e",[41520],{"_key":41521,"_type":177,"marks":41522,"text":10958},"97c38063f5d80",[],[],{"_key":41525,"_type":173,"children":41526,"markDefs":41530,"style":182},"019b87b7c8f4",[41527],{"_key":41528,"_type":177,"marks":41529,"text":39525},"dccb7d23aab30",[],[],[41532],{"_key":39638,"_ref":1713,"_type":141},"Hunting PLC, today announces its preliminary results for the year ended 31 December 2005.","2006-03-02T11:02:00.000Z",{"_type":9,"current":41536},"02-03-2006",[41538,41539],{"_key":39645,"_ref":7180,"_type":141},{"_key":39647,"_ref":15507,"_type":141},"Hunting PLC 2005 Annual Results","\u002Fnews\u002F02-03-2006",{"_createdAt":41543,"_id":41544,"_rev":16709,"_type":168,"_updatedAt":116,"body":41545,"categories":41615,"introText":41617,"publishedAt":41618,"slug":41619,"tags":41621,"title":41624,"url":41625},"2023-02-21T11:18:03Z","d781731c-59d1-4f79-8615-1d257429f31e",[41546,41554,41562,41570,41578,41585,41593,41601,41608],{"_key":41547,"_type":173,"children":41548,"markDefs":41553,"style":182},"9feca60e716d",[41549],{"_key":41550,"_type":177,"marks":41551,"text":41552},"26821af28a6d0",[],"20th December 2005",[],{"_key":41555,"_type":173,"children":41556,"markDefs":41561,"style":182},"4c0635c03fb3",[41557],{"_key":41558,"_type":177,"marks":41559,"text":41560},"2e5c9f20143a0",[],"Hunting PLC\n(\"Hunting\" or \"the Company\" or \"the Group\")\nPre-close trading update",[],{"_key":41563,"_type":173,"children":41564,"markDefs":41569,"style":182},"ea62b9aa2e57",[41565],{"_key":41566,"_type":177,"marks":41567,"text":41568},"128fe33c38c70",[],"Hunting's results for the full year to 31 December 2005 will be announced on 2 March 2006.",[],{"_key":41571,"_type":173,"children":41572,"markDefs":41577,"style":182},"8014dc3b877d",[41573],{"_key":41574,"_type":177,"marks":41575,"text":41576},"0bddb4fe42ee0",[],"Dennis Proctor, Hunting's Chief Executive, said: \"Current trading is strong. Our results will be ahead of current market expectations and with strong commodity prices, a healthy order book and production backlog, we expect the momentum to continue in 2006. 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