Business
Trading Update & Interim Mana
Trading Update & Interim Mana.
About this update from Hunting Plc
[{"type":"text","content":"\n RNS Number : 0520I Hunting PLC 13 November 2008 \n \n\n\n\n\nImmediate Release\n\n\n13 November 2008\n\n\n\n\n\n\n\nHunting PLC\n\n('Hunting' or 'the Company' or 'the Group')\n\nTrading Update\n\nand\n\nInterim Management Statement\n\nHunting 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.\nTrading update\n\nResults 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. \nOur 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.\nThere 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.\n\nSubject to our ability to catch up lost production, trading remains in line with the Board's expectations. We remain uniquely positioned and resourced to capitalise on the growing trends within the global oil and gas industry and continue to view the future with confidence.\n\nFor further information please contact:\n\n\n\n\n\nHunting PLC\nDennis Proctor, Chief Executive\nPeter Rose, Finance Director\n\n\nTel: 020 7321 0123\n\n\n\n\n\n\n\n\n\n\n\n\nBuchanan Communications\nBen Willey\nRichard Darby\nChris McMahon\n\n\nTel: 020 7466 5000\n\n\n\n\n\nNotes to Editors:\n\nAbout Hunting PLC\n\nHunting PLC is an international energy services provider to the world's leading upstream oil and gas companies. Established in 1874, it is a fully list...