INTERNATIONAL energy service company Hunting said yesterday that trading conditions continued to be robust and the board remained confident on the outlook for 2008.
Chief executive Dennis Proctor said: “Energy, and the demand for it, continues to dominate the media, political agendas and public awareness. The result is a continuing challenge for the oil and gas industry to provide increased production from worldwide exploration with assistance from a capacity constrained service industry.
“Therefore, Hunting’s strategically located assets in the Canadian tar sands and the global drilling arena continue to see excellent growth opportunities.”
The company said that, in its Hunting Energy operation, all 14 global facilities had seen improvement.
It added: “Order books remain strong, especially in the North Sea, Asia and the United States. Expectations are for a strong second half in upstream activity due to new rigs being delivered and the increase in natural gas drilling in Canada and the United States.
“Expansion plans developed late last year should also benefit the division primarily in well completion.
“Exploration and production activities are strong due to the increase in oil and gas prices. Capital expenditure will once again exceed prior year levels as customer demand is providing new opportunities.”
Hunting, which has operations at Portlethen and in Aberdeen, is due to announce its results for the six months to June 30 on August 28.
Recommended for you
