Hunting plc (lon:htg)
Hunting plc


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Title: Hunting plc
Company: HTG - Hunting plc
Share Price Then: 417p
Author: Ian Smith
Date: Wed 23 Aug 2017
Comments: Hunting PLC's segments include Well Construction, Well Completion, Well Intervention, and Exploration and Production.

Like all oil support services Hunting is reporting difficult trading conditions and promising that when oil prices recover things will get better. Up until last year they have paid dividends for the last 16 years so this is clearly a company that knows what it is doing.

Normally negative, they did a share issue last year, but debt has been almost eliminated by this.

For many years people have been predicting the end of the oil industry and we appear to be a long way from that, but there are a lot of companies in the oil production process most of which are in difficulty.

I am getting very cautious as the oil price has remained low for longer than expected and more and more exploration and production equipment is becoming available as projects complete and new ones are not started.

So a small upturn in the oil price may very well see new contracts being drawn up but on desperation terms, to the detriment of those looking for sustainable business.
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