Just a quick comment on Hunting today following their 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 benefiting the perforating business in West Texas. Elsewhere conditions remain ‘subdued’ but with the money from the recent raise supporting the balance sheet and my expectations that the recent Opec deal helping the rig count I remain positive. It may be too early to suggest that the worst is behind Hunting but I would still back the company even after the strong recent share price performance particularly as the company is tentatively predicting a return to growth and for EBITDA to move into positive territory in 2017.
Leave A Comment