Hunting’s Organic Oil Recovery Pilot Doubles Output at Texas Field

Hunting ( (GB:HTG) ) has shared an announcement.

Hunting PLC reported that a pilot project using its Organic Oil Recovery enhanced oil recovery solution at Buccaneer Energy’s Pine Mills field in East Texas delivered a 100% uplift in oil production from the test wells and, in one case, reduced water cut to zero. Buccaneer plans to roll out the technology across other wells in its portfolio, underscoring the commercial potential of Hunting’s OOR solution to improve well economics and strengthen the company’s position in low-cost recovery technologies.

Management said the result reinforces confidence in OOR as a lower-cost enhanced oil recovery option that can be deployed in many oil wells globally, potentially broadening Hunting’s addressable market within the oilfield services sector. The successful pilot highlights how the company’s technology could support clients in boosting production efficiency, which may enhance Hunting’s competitiveness and growth prospects in key energy markets.

The most recent analyst rating on (GB:HTG) stock is a Hold with a £483.00 price target. To see the full list of analyst forecasts on Hunting stock, see the GB:HTG Stock Forecast page.

Spark’s Take on GB:HTG Stock

According to Spark, TipRanks’ AI Analyst, GB:HTG is a Neutral.

The score is primarily supported by strong 2024 cash flow and a low-leverage balance sheet, plus shareholder-friendly corporate actions (expanded buybacks) and positive strategic developments. Offsetting these strengths are volatile profitability (2024 loss after 2023 profit) and currently soft technical momentum (negative MACD, RSI below 50).

To see Spark’s full report on GB:HTG stock, click here.

More about Hunting

Hunting PLC is a London-listed global precision engineering group that provides precision-manufactured equipment and premium services, primarily to energy and industrial clients. Founded in 1874, the company is headquartered in London with a corporate office in Houston and operates across the U.K., U.S., China, India, Indonesia, Mexico, Saudi Arabia, Singapore and the UAE. It reports in five operating segments and focuses on product groups including OCTG, perforating systems, subsea and advanced manufacturing.

Average Trading Volume: 477,743

Technical Sentiment Signal: Buy

Current Market Cap: £710.5M

See more insights into HTG stock on TipRanks’ Stock Analysis page.