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Hunting plc

From Wikipedia, the free encyclopedia
This article is about the British petroleum company. For other companies, see Hunting (disambiguation).
Hunting plc
Company typePublic
LSE: HTG
IndustryEnergy
Founded1874
HeadquartersLondon, UK and Houston. United States
Key people
Richard Hunting, Chairman
Jim Johnson, CEO
RevenueIncrease £929.1 million (2023)[1]
Increase £61.0 million (2023)[1]
Increase £119.0 million (2023)[1]
Number of employees
1,949 (2023)[2]
Websitewww.huntingplc.com

Hunting plc is a British-based supplier to the oil and gas industry. Some 27% of the business is owned by the Hunting family.[3] It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

History

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The company was founded in 1874 by Charles Hunting, a veterinary surgeon, as a shipping business.[4] The business, originally known as Hunting & Pattison, was managed by the founder's son, Charles Samuel Hunting, and comprised two sailing ships, the Genii and the Sylvia.[5] In the 1890s the company invested in oil tankers and became a tanker broker.[6] In the 1930s and 1940s, it diversified into aircraft maintenance and manufacturing as well as air transport, establishing Hunting Aircraft in 1944 by the purchase of Percival Aircraft: this business was absorbed into the British Aircraft Corporation in 1960.[7]

At the end of 1945, Hunting entered the airline business and established Hunting Air Travel Ltd, a business headquartered at Luton Airport.[8] The new airline began commercial operations from Bovingdon Airport at the start of 1946. In 1951, Hunting Air Travel changed its name to Hunting Air Transport. Another change of name occurred in late 1953, when Hunting Air Transport became Hunting-Clan Air Transport. This change of name resulted from the Hunting family's decision to split the group and to transfer their airline business to a new holding company which they had set up together with the Scottish Clan Line, a rival shipping company owned by the Cayzer family.[9]

In June 1998, Hunting Cargo Airlines was sold to a consortium consisting of CMB (Belgium) and Safair (part of the Imperial Group) and rechristened ACL (Air Contractors Limited).[10] In the 1990s, Hunting became involved in defence contracts, notably, in 1993, being a member of the winning consortium contracted to manage the Atomic Weapons Establishment, a contract that lasted until 2003.[11] More recently, it refocused on its core oil and gas activities.[12]

In December 2008, it completed the disposal of Gibson Energy, its operation transporting and marketing crude oil in Canada, for a total consideration of £517m.[13] On 16 August 2010, Hunting PLC announces the acquisition of Innova-Extel Acquisition Holdings Inc. for a cash consideration of US$125 million.[14] On 5 August 2011 Hunting announced the acquisition of Titan Group for $775 million.[15] On 12 August 2011 Hunting announced the acquisition of Dearborn Precision Tubular Products for US83.5 million.[16]

As of 1 September 2017, Jim Johnson was promoted from the role of COO to the role of CEO to replace Dennis Proctor.[17]

Current operations

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Operations include:[18]

  • Well Construction: provides products and services for the construction phase of the wellbore development.
  • Well Completion: provides products and services that support the completion and re-completion phases of wellbore development.
  • Well Intervention: provides products and services that support the intervention and subsea support phases of wellbore production and maintenance.

See also

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References

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  1. ^ a b c "Annual Results 2023" (PDF). Hunting plc. Retrieved 29 February 2024.
  2. ^ "Hunting plc". London Stock Exchange. Retrieved 16 January 2023.
  3. ^ "cbcf.com". Archived from the original on 2 April 2015. Retrieved 28 March 2015.
  4. ^ Hunting says no to Duke Street Daily Telegraph, 15 September 2000
  5. ^ "Gibsons". gibsons.co.uk. Archived from the original on 2 April 2015. Retrieved 28 March 2015.
  6. ^ "Hunting plc: Heritage". Archived from the original on 2002-01-09. Retrieved 2009-08-16.
  7. ^ "Our Businesses - BAE Systems". baesystems.com. Retrieved 28 March 2015.
  8. ^ Dix, Barry (15 January 2009). "Fly Past: A hunting we will go". The Hounslow Chronicle.
  9. ^ "air transport - hunting air - aircraft services - 1954 - 0089 - Flight Archive". flightglobal.com. Retrieved 28 March 2015.
  10. ^ About us - History. ASL Aviation Archived 2016-02-18 at the Wayback Machine- official website
  11. ^ "Relicensing the Atomic". hse.gov.uk. Retrieved 28 March 2015.
  12. ^ What is the point of innovation in pressure regulator design? Energy International, November 2008
  13. ^ Hunting sells Gibson Energy unit for £626 million[dead link‍] Forbes, 6 August 2008
  14. ^ Hunting acquires Innova-Extel for $125m Archived 2010-08-18 at the Wayback Machine CEOWORLD Magazine, 16 August 2010
  15. ^ "Hunting Buys Titan for $775 Million to Expand in Shale Oil". Bloomberg. 5 August 2011. Retrieved 22 April 2017.
  16. ^ Hunting buys Dearborn for $85m Upstream, 15 August 2011
  17. ^ "Appointment of Chief Executive". www.huntingplc.com. Retrieved 2018-10-25.
  18. ^ "Activities". Hunting Group. Retrieved 22 April 2017.

Sources

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  • "Flight International". Flight International. Sutton, UK: Reed Business Information. ISSN 0015-3710. (various backdated issues relating to Hunting Air Travel, Hunting Air Transport and Hunting-Clan Air Transport, 1946-1960)
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