Executive Summary
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, Singapore, United Arab Emirates and the United States of America.
Company History
Hunting’s history can be traced back to the 1890s, when Charles Samuel Hunting entered the oil business, expanding on a successful ship owning firm set up by his father. Key milestones in the company’s history are as follows:
- The company diversified into aviation following the First World War, creating an airline business and a range of military and civil aircraft
- The company diversified further following the Second World War into a number of different fields, including the creation of a defence company whose precision engineering gave rise to the formation of an oil services company, an aerial survey and geophysical business and substantial investments in the Canadian oil sector
- The company expanded further into petroleum retailing, lubricants and specialised products, and the business began to bring in outside capital to fund expansion during the sixties and seventies
- The company initially went public as three separate but inter-related companies that were then merged in 1989 as Hunting plc
- The company now operates as an upstream Energy Services company
Current Events
The company recently announced its half year results for the six months ended 30 June 2009, the highlights of which are provided below: [1]
- Revenue increased by 9% to £219.8m
- Profit from continuing operations declined by 4% to £23.0m
- The company completed two acquisitions – National Coupling Company for US$53.8m in June 2009 and PT SMB for US$10.7m
- It has also recently appointed John Nicolas and John Hofmeister as non-executive directors
Business Model
Hunting operates in the following areas:
- Proprietary Technology: it owns and develops patented products including premium connections, burst discs, make up processes, coating of threads and mud-motors
- Geographic footprint: it owns plants, properties and equipment in strategic locations around the world
- Market share strength: Hunting Energy Services it is the leading independent premium connection company, and several of its other subsidiaries are leaders in their fields of…
