Hunting warns of £7.3m earnings drop for 2021
Energy services group Hunting warned today that its full year earnings would be £7.3 million lower than in 2020.
Hunting
Hunting clinches ‘sizeable’ order for oil recovery procedure that relies on microbes
Oilfield service firm Hunting said today it had clinched its first sizeable order for a pioneering technology that uses microbes to increase hydrocarbon production.
‘Green shoots’: Hunting buoyed by prospect of improved 2021
Bosses at oilfield service firm Hunting said trading in early 2021 remained subdued but they predicted stronger performance across the group during the rest of the year.
Hunting reflects on ‘painful process’ after reducing headcount by more than a third in 2020
Hunting has said the group is positioned “well for the year ahead” after a strong finish to 2020, coupled with a more buoyant market outlook.
Oilfield service firms at ‘strategic crossroads’ as energy transition accelerates, PwC says
Oilfield service (OFS) companies must decide now whether they are going to stick with hydrocarbons or pivot to low-carbon, a new report said.
Hunting forms strategic partnership with Well Data Labs, gives firm £1.8m in convertible capital financing
Oilfield technology firm Hunting has formed a strategic partnership with Well Data Labs (WDL) and agreed to provide the firm with $2.5 million (£1.8m) in convertible capital financing.
Hunting reduces headcount by 34% since start of 2020
Hunting will exit 2020 with fewer than 2,000 employees, a reduction of 34% since the start of the year.
Hunting swaps subsidiary for stake in Texan oilfield equipment supplier
Hunting has sold its US drilling tools subsidiary to Rival Downhole Tools in exchange for a minority stake in the Texan oilfield equipment supplier.
EV Out Loud: Austin powers back, steroids for microbes, and heartbreak in Uganda
On this week’s episode, in association with Fasken, the team looks at the return of RockRose Energy founder Andrew Austin to the North Sea fold, after he sold up his former firm for nearly £250m earlier this year.
Motive adds international finance expert to senior team
Marine equipment fabrication and rental specialist Motive Offshore Group has hired a new chief financial officer as it targets annual earnings of £20 million by 2024.
Well-fed microbes deliver big production boost at North Sea field
A pilot test of a pioneering microbial technology has delivered a production increase of more than 25,000 barrels at a UK North Sea oilfield.
Hunting cuts global workforce by 30% since start of year in response to ‘challenging environment’
International energy services provider Hunting has made further job losses as it continues to battle the dual impact of the Covid-19 pandemic and the oil price slump.
Updated: Hunting shares up on dividend, 20 north-east jobs cut
Hunting laid off about 20 employees in the north-east during the first half of 2020 as the Covid-19 pandemic and oil price drop caused demand to falter.
Hunting reduces global workforce by 25%
Oilfield technology firm Hunting said on Monday that it was slashing its global workforce by a quarter in response to the oil price drop and Covid-19 pandemic.
Share price boost for North Sea service firms
North Sea energy services firms including Wood, Petrofac and Hunting enjoyed a share price boost in the City today.
R&D ‘vital’ for getting through a downcycle
The downturn that struck in 2014 wasn’t littered with pleasant surprises.
Oil shares massacred in London as crude price war erupts, dragging down Brent
Oil shares were decimated in London this morning after a crude price war erupted between Saudi Arabia and Russia.
Hunting shares surge on buyback call
Energy service firm Hunting said today that it was launching a share buyback programme for the first time in its history.
Hunting acquisition will ‘supercharge’ Enpro growth, former backers say
Enpro’s acquisition by Hunting will help “supercharge” the Aberdeenshire firm’s growth, its former backers said.
Updated: Hunting swoops for Enpro Subsea in £25m-plus deal
Energy services group Hunting has snapped up an Aberdeenshire subsea oil and gas production technology company for £25.6 million.
North-east man climbs career ladder at Hunting
A former pupil at Mackie Academy in Stonehaven is taking another big step up the career ladder at Hunting.
Recovery process could add decades to North Sea’s lifespan
A pioneering new microbial technology which will soon be trialled in the UK North Sea could add decades to the basin’s lifespan, saving jobs and “kicking decommissioning down the track”.
Hunting back in the black despite ‘stagnant’ North Sea
Oil service firm Hunting said yesterday that its return to the black in 2018 was driven by US onshore drilling activity.
Low North Sea activity dents performance at Hunting
Oil service firm Hunting said today that low North Sea activity levels culminated in third quarter operating losses in its European business.
Hunting back in the black, but North Sea revenues down
Rising oil prices and an improved US drilling market have helped oilfield services firm Hunting back into the black but North Sea revenues are down.