Energy services group Hunting warned today that its full year earnings would be £7.3 million lower than in 2020.
Organic Oil Recovery
Oilfield service firm Hunting said today it had clinched its first sizeable order for a pioneering technology that uses microbes to increase hydrocarbon production.
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.
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 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.
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”.