Business
IMS and AGM Statement
IMS and AGM Statement.
About this update from Hunting Plc
[{"type":"text","content":"\n RNS Number : 5123K Hunting PLC 21 April 2010 \n \n\n\n\n\n\nFor Immediate Release\n\n\n21 April 2010\n\n\n\n\n \n \n \n \n \n \nHunting PLC\n \n(\"Hunting\" or \"the Company\")\n \nAGM \n \nand\n \nInterim Management Statement\n \nHunting 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. \n \nRichard Hunting, Chairman, will be making the following statement to shareholders:\n \n\"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.\n \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. \n \nWell Completion: Activity towards more oil drilling has provided encouraging results and should continue as commodity prices increase or remain at current levels. \n \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.\n \nThere 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. \n \nOverall, 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.\"\n \nFor further information please contact:\n \n\n\n\n\nHunting PLC\nDennis Proctor, Chief Executive\nPeter Rose, Finance Director\n \n\n\n \nTel: +1 713 595 ...