"Just a quick comment on LSE:HTG:Hunting today following its trading statement, which reads as well as can be expected under the circumstances. 2016 will finish in line with expectations; the market is improving, with conditions particularly ..."
Read VSA Capital's note on HUNTING PLC (HTG), out this morning, by visiting https://www.research-tree.com/company/GB0004478896
"Yesterday afternoon Hunting (HTG) released a particularly negative trading update further to its downbeat trading statement earlier in April, which painted an uncertain outlook for the company. In this update HTG confirmed that weak performance in Q1 has continued throughout April and May, which does not come as a surprise. Indeed its share price fell 12% yesterday..."
Read VSA's note on Hunting (HTG), out this morning, by visiting www.research-tree.com
Following its weak FY 2015 results Hunting (HTG) has released its Q1 2016 trading update which continues to paint an uncertain outlook for the company. Revenue is c50% lower in the quarter versus a year ago and the US rig count has continued to fall in recent weeks which now stands at below 450 compared to over 1,800 at the start of 2015. Net debt is US$132m
" WTI $34.66 +26c, Brent $36.93 +97c, Diff $2.27 +71c, NG $1.68 -6cA very quick word on LSE:HTG:Hunting this morning; I will comment at length after this morning's analyst meeting.At first glance, the figures look slightly better than expected, ..."
"The FTSE 100 (UKX) was supposed to experience an up day on Thursday, something it gloriously failed at. In fairness, it was truly odd watching London drift to 1% down while the rest of the civilised world was anywhere from flat to 1.5% up. We ..."
"THE FTSE and HUNTING GROUP (FTSE:UKX LSE:HTG) The FTSE was supposed to experience an UP day on Thursday, something it gloriously failed at. In fairness, it was truly odd watching London drift to 1% down while the rest of the civilised world ..."
"More beavering away at Goldman Sachs HQ has generated another six shares tipped to generate alpha - returns that beat the benchmark index - in 2016. The ideas, based on the investment themes of either European recovery, technology disruption or ..."
Thanks Goldman Sachs. Never thought I'd hear myself say that!
This, plus the fact that growing instability in the Middle East is going to make oil security an increasing concern. To mitigate against that risk will need home-grown oil.
Oh what a time to be an oil services company in good shape to benefit.
I'm in big time (well, big for me anyway) first thing tomorrow.
" The oil industry has stumbled like a drunk from one disaster to the next. But while it's still too early for investors to get excited about a Santa rally, the sector does at least appear to be sobering up. And Goldman Sachs may have just handed ..."
Is that what's going on here today?
Looks like greater instability is coming to the Arab world and there is renewed interest in developing home grown supplies.
Would be welcome for someone who bought this at its peak and is still holding.
" WTI $41.75 -$1.18, Brent $44.06 -$1.75, Diff $2.31 -57c, NG $2.26 n/cAnother bad day at the office for oil market bulls; the prices are now well back through the longer-term moving averages and looking vulnerable to more weakness. December Brent ..."
Would you like to expand? So far this year they have held a floor at around 380. Twice in fact. I don't dispute that there are big structural problems with the oil price so low but even in 2009 thry held around 340.
"Low oil prices may no longer be front page news, but the industry's problems haven't gone away. After clawing back over half last year's share price plunge since January - bid speculation accounts for some of that - LSE:HTG:Hunting brought ..."
Peer Hunting <HTG.L> 4th top UK midcap riser, up 3.7% at 7-mth high, also in volume, building on 5.6% rise seen Monday (when FT market report flagged takeover speculation as catalyst:http://on.ft.com/1SFKAvj)
This has had a bit of a rally recently but now that Opec have stuck to their strategy and are profucing 1m+ bpd surplus to demand, will this fizzle out or is demand catching up? I'm still down on my holding. D
"After admitting it didn't have a clue how 2015 would play out back in February, LSE:HTG:Hunting is being rewarded on Wednesday for shedding a little more light on this year's trading performance.First-quarter operating profit is down 60%, as ..."
Hunting PLC (LSE:HTG), the international energy services group, which will today be holding its Annual General Meeting commencing at 10.30a.m., issues a 2015 Q1 trading update.
During Q1 2015 market conditions across the oil and gas sector continued to be volatile, with global rig counts continuing to decrease, particularly in North America where data indicates a 46% decline since the start of the year. WTI oil prices averaged $49 per barrel during the first quarter of 2015, and capital expenditures across the industry have continued to reduce or be placed on review. This market environment has resulted in operating profits across Hunting's business being approximately 60% lower during Q1 2015 compared to Q1 2014.
Only the Subsea, Electronics and Dearborn divisions performed above their Q1 2014 levels. However, as expected, Canada and US Drilling Tools experienced losses during the period.
While US oil inventory growth and rig count decline has slowed, further cost reductions in the Group have occurred with employee levels down approximately 20% since the beginning of the year.
The Group's capital investment program remains on schedule for completion during the year, with new facilities construction continuing at AmeriPort, Texas; Fryeburg, Maine; and Cape Town, South Africa.
The Company continues to report a strong balance sheet, with no significant change to the financial position of the Group since the publication of the results for the year ended 31 December 2014.The Group's net debt position as at 3 April 2015 was approximately $164 million.
While the current outlook for trading in the remainder of 2015 and into 2016 continues to be unclear, the Board remains of the opinion that capital investment and activity levels in the industry will recover, as and when the supply/demand balance across the industry is resolved. The Group's strategy of supplying a broad range of high value products to all major global regions remains unchanged as investment in South Africa, the Middle East and Singapore position the Group to capitalise on the market recovery as and when it occurs."
"LSE:HTG:Hunting famously broke the reporting mould in February, being the first oil services company to admit it had no idea how the year ahead would play out. It was a risky move, but the City admired its honesty. A month on and visibility ..."
From a "seeking alpha" article, an indication of the margin pressures oil services companies will be facing:
"CEO of Halliburton, Dave Lesar, warned investors against the tough year ahead for the company, in the company's fourth quarter conference call. Lesar could very well be right about the pains that Halliburton might see in the year ahead. To begin with, there are definite signs of a slowdown in activity in the industry as oil companies have revised their capital expenditure budgets downward. The risk of further reductions in capital expenditures is also possible, especially if oil prices plummet to lower levels. Additionally, the rig count in the industry has also declined dramatically in the past few weeks, according to a Baker Hughes reports. Though the rig count in the industry held up during the company's fourth quarter, we could see the decline in the rig count dent the company's first quarter earnings for the year. The company confirmed that it is in discussion with customers about price discount on it services, with many companies unwilling to execute contracts until service prices are lowered by at least 40%. Since oil companies clearly have the upper hand in this case, and as Halliburton could eventually be seen making concessions for customers, margin contraction could be a prominent feature of the year. In fact, margin weakness could prevail until oil prices rebound and capital budgets are increased, allowing new contracts to be negotiated at relatively better rates in the future."
Down 5% on a RNS that said little most people did not know, and up near 5% at the close - so where next I think the results will not be as bad as expected a week or so ago
Waiting on another chance for 465 but i may have to wait a long time
"Most were hoping the uncertainty clouding oil prices would start to lift this year, but oil services group LSE:HTG:Hunting has just confirmed the opposite, saying it is unable to set guidance for its future earnings as rig numbers continue to ..."
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