SUMMER2010

No178

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Hunting Review; the external house magazine of Hunting PLC 3 Cockspur Street,London SW1Y 5BQ, UKdavid.hunting@hunting.plc.uk Edited by Victoria Bailey and Georgia Langdon, Campaign PR. info@campaignpr.comDesigned by Anthony B Ainley MCSD tony@tonyainley.com Produced and printed by Duffield Printers Ltd martyn@duffieldprinters.co.uk

4 Welltonic debutThe latest entrant to the Hunting fold, Hunting Welltonic builds the company’s presence in the well intervention market

14 Artistic achievementThe Hunting Art Prize reaches the ripe old age of 30 while announcing one of its youngest ever winners

7 Learning the ropesFor the trainee ship broker an onsite visit means practical experience of the vessels they will be broking

18 Putting the fizz into gasThe most important development in the energy sector for years? The Hunting Review charts the rise and rise of shale gas

23 Lending a handOilfield Helping Hands (OHH), which assists oilpatch workers and their families in need, is Hunting’s nominated charity this year

10 The sky’s the limitMankind is fascinated by extremes. Smaller, faster, lighter - and for buildings the taller the better

20 ShalereactionHunting continues to position itself to take advantage of the opportunities thrown up by the energy industry’s much talked about new resource - shale gas

12 North Sea changeThe ever changing tides of the North Sea bring some unexpected entrants

25 News from our community

Cover Shale gas - read the articles on pages 18-22

IN ISSUE 178 SUMMER 2010

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Staying aheadWho could have predicted, even a few years ago, the wealth in natural gas that could be unlocked from shale formations and the impact this could have on the prime consuming regions of the world? Who could have foreseen what this might do for developing options to power the next generation? It is possible that the energy market has been permanently affected by this access and the bonanza shows no signs of abating. We take a hard look at this budding market in the Review, as well as introducing Hunting’s response to this global opportunity.

The latest acquisition to the Hunting portfolio, Hunting Welltonic, is also covered in this issue; we look forward to bringing more

news on how the company is increasing the push into the higher technology end of the well intervention sector. Hunting Welltonic not only broadens our existing product and service range, it also offers a wider geographic reach than before.

In recent years it has become a feature of each summer issue that we report on our highly successful Hunting Art Prize.

This is the client facing highlight of the company calendar as well as the opportunity to engage with the artistic

and charitable communities in which we operate, to make a difference. This year we celebrated both the fifth anniversary in the United States and the 30th anniversary since launching in the UK all those years ago. As is now the established practice, the winner, Lane Hagood, was announced at the award gala. This was our most well attended and successful yet and we are proud to be able to contribute the proceeds to Oilfield Helping Hands, a fully deserving

volunteer organisation.

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Welltonicdebut Newcomer Hunting

Welltonic is poised to further strengthen Hunting’s involvement in the well intervention market

Pipe Cutter

Anchor Tri-Reamer

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Shortly before Christmas 2009, Hunting welcomed the Welltonic Group of coiled tubing and well intervention specialists

into the Hunting fold, celebrating Hogmanay with brand alteration to mark the change of ownership. Commenting at the time, Managing Director, Dave Deans, said: ‘This will allow Hunting Welltonic to expand our offering without sacrificing our position as an independent company with a total focus on Thru-Tubing Services.’

Hunting Welltonic is set to be another building block for Hunting’s well intervention segment of the upstream oil and gas industry by broadening the product offering and geographic reach of its activities. The synergies will extend the technology available for the established clientele of both entities while bringing new market presence to each for their existing business. Right from the word go both sets of management have wasted no time in pursuing the opportunities presented, with short term benefits anticipated for both management and new owners.

Reach for the mapThe original Aberdeen based company was founded soon into the new millennium. Aberdeen still boasts the largest facility, when measured by square footage, but its business preponderance is now challenged by the Dubai operation established in 2005. With Aberdeen broadly covering Europe and West Africa, Dubai has satellite operations touching many points in North Africa, the Middle East and Central Asia. This has just recently been complemented by a newly invigorated presence in Singapore to service the fast growing south east Asian, Chinese and Australasian markets. The geographic footprint marches well with the strategic aims of Hunting PLC and especially with the existing well intervention activities in northern Europe and the Americas.

More than just products To clarify its role, Hunting Welltonic provides specialised technical advice, tools and equipment that are delivered to the working area of the well bore inside the production pipe via coiled tubing - hence Thru-Tubing Services. The tubing has the capacity to be pushed into the bore where wireline and slickline operations are traditionally dependent on gravity. Typically the tubing is also used as a hydraulic conduit to operate a range of work-over or intervention procedures such as drilling, milling, cutting and descaling. It is a particular feature that company field engineers are deployed to work alongside the client’s rig based coiled tubing team, advising and supervising the specialised operations.

Prior to mobilisation a full technical proposal will be generated along with complete BHA diagrams. This will be incorporated into the offshore programmes and used throughout the duration of the operation. Technical and operational support are provided on a 24-hour basis from each regional base to address any issues that arise. The tools themselves are

Before:Dubai facilitywith original logo

After: Aberdeen facilityrebranded

Dave DeansDubai MD

WellGrippConnector

Alan ReidUK MD

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either OEM designed, in which case it is likely that all the major manufacturers are represented, or are otherwise proprietary and have been designed in house to complete the required tooling arrangement. In this way a mobile workshop set up with a full suite of managed, rented or purchased tools, uniquely specified to the job in hand, is delivered to the rig in one container.

Added servicesThe customer is the constant throughout the commercial cycle from initial enquiry to post operation reporting. The intervening stages embrace the physical management and maintenance of the complete tool inventory, which in many cases includes the client’s own stock. This incorporates inspection, dismantling, repair, re-assembly, testing and quality reporting services. To give transparency and clarity to these services they are configured together with a process based asset management system that interfaces with the client’s systems to give them the efficiencies that they require, as well as managing the company’s own business process requirements.

Due to the nature of the working model, the coiled tubing operator and oil company have a continuous relationship with the team at Hunting which allows for the development of long term planning, as evidenced in long term contracts. This stability helps to build personal confidence for innovative, quick response solutions to fix problems in the field with the assurance that the team has both the experience and intellectual capacity required to solve whatever is thrown at them.

Engineered by designFrom addressing difficult well bore needs at short notice, it was a logical step to make the decision in 2006 to set up an in house Engineering Design department. It was further decided to centralise this expertise at Aberdeen because of the office infrastructure, existing service centre and the high calibre of staff available. This expertise would then be available to support field operations on a worldwide basis in the way that local sales and service operations cannot. It is to this team that development automatically fell for dipping the company’s toes into the waters of Tool Supply, when it is appropriate to customers’ needs, as well as being a Thru-Tubing service provider.

In addition to the above, Hunting Welltonic provides bespoke engineering services for one off projects which have proved to be very successful. This builds up customer relations and ensures Hunting is at the forefront of developing technology in a well intervention market of growing complexity.

Alan Reid continues to lead the team in Aberdeen as he has done throughout both the previous management and now Hunting’s ownership, while Dave Deans leads the eastward charge from Dubai. As an attractive business that is close to, but is pushing the margins of the existing Hunting Energy Services activity, this looks set to be a significant stepping stone in future market positioning and a very suitable business to carry the Hunting profile forward.

Dubai despatch area

Barry Reid(UK FacilityManager)

UK based: Adam Gray, (Ops Manager) Tony LaPlante,(Eng Manager) Brian Ewing, (Ops Engineer)

Jetting nozzles ona tool rack

Tony LaPlante(Engineering Manager)

Mandy Lumsden(Design Engineer)

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Shipbroking has a long history. It certainly existed in Roman times, when grain was imported from Egypt to Ostia, Rome’s

ancient seaport; there shipbrokers and merchants agreed prices for the grain and the sea freight. The early shipping document was called a ‘carta partita’- it had two identical halves, which were both signed by the merchant (the charterer) and shipowner, and then ripped in half so that both parties could keep their portion. The document today is called a Charter Party, although these days it remains intact and copies are easily made. Many ancient words still live on in the industry - tons date back to a full tun, or cask of wine in the Bordeaux/UK wine trade. Fuel and diesel oil, used for ships’ propulsion at sea, are still referred to as bunkers - the coal which was once stored on the ship and burned to heat boilers.

Oil to NewcastleGibson Shipbrokers has a history going back 116 years. Originally it was the London based independent broker for the chartering requirements of Hunting & Son in Newcastle which had been active in international trade since 1874. During the 1880s, on the personal advice of Edward Aisbitt Gibson, Charles Hunting ordered one of the very first dedicated bulk oil tankers that are now such a feature of the high seas. Previously oil products had been shipped in barrels. In the 1920s Gibson was taken over by Hunting and went on to build a blue chip client base from both shipowner and chartering communities. In the 1980s, after

Learningthe ropes

An ancient profession that still flourishes today, shipbroking in the twenty first century is highly competitive. Vessel visits are an integral part of the new recruits’ training

a protracted shipping slump and an unhelpful change to the UK tax regime, the group decided to finally divest itself of its ship owning roots but maintained its shipbroking division as a standalone entity. The timing here was fortuitous and Gibson moved from strength to strength to become one of the world’s largest and most successful shipbrokers, covering markets such as Tankers, Gas, Dry Cargo, Offshore and Sale and Purchase.

The job at Gibson is now very much about managing a vast amount of shipping information, assimilating and making sense of fast moving markets. Through this, the company can work with owners or charterers who are located around the world in different time zones, and thereby provide them with the best possible service. Commission is paid on a successful ‘fixture’, where a ship is chartered either on a rate per ton loaded basis or a daily hire rate for a trip or period of time. Although London remains the world’s premier shipbroking centre, much of Gibson’s income today comes from overseas clients.

Understanding the lingoLike many industries shipbroking itself has its fair share of jargon, technical detail and legal principles all of which has to be absorbed en route to becoming a professional shipbroker. At Gibson on-site training is considered to be a vital experience as part of the overall professional development of young shipbrokers. Technical aspects of vessels, that can seem quite puzzling and academic when sitting at a desk, often

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become clearer with the physical experience when seen aboard ship. It is important to appreciate what other participants involved in the shipping industry actually do such as the master (captain) and crew, ship’s agents, stevedores, surveyors and tugboat operators to indicate a few.

One of the recent intakes of budding shipbrokers were taken by Senior Analyst David Ventham to visit the port of Immingham, which is situated at the mouth of the river Humber, in the UK to see the bulk carrier Battersea. This newly built vessel from the Daehan shipyard in South Korea was on her maiden voyage from Australia to the UK.

The LOA, or length of the vessel, is a massive 290.5m - the equivalent of nearly three soccer pitches laid end to end. The height from the bridge to the lowest part of the engine room is the equivalent of 13 floors. Battersea is a Capesize vessel, which means she is too large to navigate through the Panama or Suez canals. Capesize vessels earned their name from the plan developed 40 years ago to route these types of vessels, carrying coal from the US Atlantic coast to Japan, via the Cape of Good Hope.

Boasting a deadweight of 169,391mt and a vessel’s draft (the depth under the waterline) of 17.82m, Battersea’s master and all 24 crew hailed from the Philippines. A full cargo of coking coal (155,000mt) was loaded from Haypoint, Queensland destined for Redcar, in the UK, where 75,000t was discharged with the balance of the cargo going to Immingham.

Duties discharged

The laden leg from Australia to Redcar took 43 days with no stops en route with the exception of a few hours for one bunkering call. One of Gibson Shipbrokers’ major clients, BHPB was responsible for the freight and safe delivery of the coal to the UK. The vessel itself is on long term charter to one of Gibson’s regular owners - Sanko Kisen, which is based in Tokyo. The coal’s buyer, steel giant Corus Group, is another significant Gibson customer. Important relationships are built over time and relied upon to bring the ventures to successful conclusions. After discharge ashore, the coal was transported to Scunthorpe by rail for use in Corus’s blast furnaces to make steel.

Walking the talkWhile on the vessel the group walked the main deck to study the discharge pattern from the holds. On the bridge they studied the vessel’s state of the art technology which included: sophisticated radar (to ensure the crew is aware of all other traffic movements in the vicinity), depth sounding system (to ascertain and monitor clearance below the vessel), a computerised cargo load/discharge programme (to avoid stress on the vessel’s hull by uneven load/discharge) and the vast array of the vessel’s communication equipment. Everyone had the chance to talk to the Master about the Battersea’s maiden voyage and the tour ended with a visit to the engine room where the chief engineer proudly showed off the spotlessly

clean MANB&W 25,370 horse power engine; to put this in context this is equivalent to the maximum output from 275 family saloon cars.

Even experienced brokers on the visit benefitted from seeing at first hand some of the industry’s latest improvements by reviewing the vessel’s technology and contemporary features. Battersea is one of the new design Capesize vessels which have a high forecastle above the bow. This limits potential wave damage to the hatch covers on the main deck in very rough seas - which are more vulnerable on a conventionally flared prow.

Being ‘out in the field’ is always a beneficial experience for the new recruits as well as the old timers. Visiting Battersea was highly educational and stimulating. Similar visits will remain a key part of Gibson’s training and development programme.

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Rising more than 160 stories high into the Dubai skyline, the Burj Khalifa defied all precedents this January by securing

the title of the world’s tallest building - a bold statement to stamp Dubai’s commercial and economic importance on the international stage. The opening ceremony which took place in January, 1,325 days after excavation work started, was attended by 6,000 guests and officially presided over by Dubai’s ruler, Sheikh Mohammed Bin Rashid Al Maktoum.

The exact height of the building, which had previously been kept a closely guarded secret, was revealed at the event on display screens, marked with a dramatic fireworks display and light show that took place around the tower. Standing at 828m (2,717ft) tall, Burj Khalifa dwarfs the 553.3m achieved by the previous record holder, the CN Tower in Toronto, Canada.

Situated on part of a 500 acre development, the modern design for the Burj Khalifa’s base was inspired by the petals of a desert flower, while incorporating ideas from traditional Islamic architecture - including the world’s highest mosque on the 158th floor.

Although originally named the ‘Burj Dubai’, Sheikh Mohammed’s last minute renaming of ‘the tallest building ever created by the hand of man’ came as a surprise nod to the President of the United Arab Emirates, Sheikh Khalifa bin Zayed Al Nahayan. Sheikh Nahayan is also the Emir of Dubai’s neighbour, and the largest oil producer of the UAE, Abu Dhabi - which recently gave $10bn to Dubai to help it complete construction of the tower and pay off its debts.

This bailing out demonstrates the continuing importance of petro dollars to the growth of the Middle East. Hunting has been steadily increasing its presence in the region for several years now and has facilities in Dubai and satellite operations throughout the region.

Aiming highConstruction of the Burj Khalifa, which boasts 1,044 luxurious apartments, began in 2004 - at the very height of the economic boom, with plans to further include a 160-room Armani hotel. Following the recent economic downturn and its catastrophic impact on the global

property market however, investors are facing huge losses - indeed some apartments are now selling at less than half the original price.

Although reports are that developers are now suspending proceedings on new flagship projects, indicating that Burj Khalifa could be the last in a sky-scraping era for the Gulf, the sheer brilliance and innovative design of today’s tallest building remains unrivalled. Construction on such an immense scale does, however, come with additional and hugely complex technical challenges. The region’s susceptibility to high winds, coupled with its proximity to a major geographical fault line, has seen the Burj Khalifa survive both a powerful earthquake in 2009 and - disproving popular myth - two separate lightning strikes.

Reaching new heightsThe Council on Tall Buildings and Urban Habitat (CTBUH) is the not for profit international authority which maintains a register of the 100 tallest buildings and formally announces the official record holder. According to CTBUH standards, only completed or ‘topped-out’ buildings with continuous, habitable floors are to be included in the list and it ranks its structures in line with particular specifications. Following a dispute in 1996 as to whether the Petronas or Willis (formally the Sears) Tower was taller, the council introduced a further four categories for evaluation: the height of the architectural top; height of the highest occupied floor; height to the top of any part of the building and lastly, height to the top of the roof - although this was removed as a valid measurement in November 2009. Astonishingly, Burj Khalifa broke the record for structural height in all CTBUH categories.

The earliest recording of the world’s tallest structures dates as far back as the Pyramid of Djoser in Egypt in 2700 BCE which, in comparison to today’s skyscrapers, measured in at a somewhat diminutive 62m (203ft). The first European building to be formally recognised was Lincoln Cathedral, England, holding the record from 1311-1549 AD at 160m (525ft).

Architecturally resplendent and often infused in great historical tradition, it is unsurprising

The prestige behind building the world’s tallest structure has

been spurring on architectural minds to design ever more

gravity-defying buildings and Dubai now holds

the record

Teipei 101Taiwan

Petronas Towers Kuala Lumpur

Willis TowerChicago

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that the world’s tallest buildings continue to attract millions of visitors each year. The immediately recognisable and highly evocative image of the Eiffel Tower, for example, has become a symbol of Paris - with hundreds of people flocking to the top of its 1,710 steps every day. Similarly, the Empire State Building, which was the first building to have more than 100 stories, is as representative of the famous city in which it stands as New Yorkers are themselves. The 2001 attacks on the Twin Towers of the World Trade Centre meanwhile, have left an irreplaceable and unforgettable gap in the New York skyline.

The ‘Vertical City’London’s Shard of Glass will be the latest addition to tall building records, when construction is completed in 2012. Designed in 2000 by the Italian architect, Renzo Piano, the Shard will stand at 310m (1,017ft) tall and have 72 floors, plus 15 further radiator floors in the roof, making it the tallest building in the UK. Evoking the image of an iceberg emerging from the River Thames, the earliest designs of the structure were among the first to be developed following the US National Institute of Standards and Technology (NIST) report into the collapse of the World Trade Centre. This ensures that the building is designed to maintain stability under unexpected and extreme conditions.

Incorporating 586,509sq ft of office space as well as a five star hotel and a variety of restaurants, some of the Shard’s interior capacity has already been pre-let to The Shangri La Hotel. A public viewing gallery, located at the top of this striking structure, adds another interesting dimension to the developing design and is expected to draw over two million visitors a year. It is likely to be visable from Hunting’s HQ next to Trafalgar Square.

Blue sky thinkingThe relationship between the world’s tallest buildings and the places they represent is somewhat inexplicable. They are cultural references, symbolic not only of the time when they were built, but of future prosperity and are often a source of inherent pride. Perhaps this, coupled with the unrivalled and spectacular views and sheer amazement at what human endeavour can achieve, is why people remain so fascinated by these landmarks of innovation.

Burj Khalifa facts 95: distance in km at which its spire can be seen 504: rise in metres of its main service lift 57: number of lifts 49: number of office floors 1,044: number of residential apartments 900: length in feet of the fountain at the foot of the tower, the world’s tallest performing fountain 28,261: number of glass cladding panels on the exterior of the tower

900800700600500400300200100

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World’s tallest buildings as of January 2010(height in metres to architectural top)

Burj TeiPei World Petronas Willis Nelson’s Khalifa 101 Financial Towers Tower Column Centre

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Although a mature oil province, the UK Continental Shelf (UKCS) continues to play an important part in the UK’s

energy strategy. Continuity of production will depend on factors such as optimising existing production, bringing on stream new fields and continuing the exploration and appraisal efforts to add overall reserves.

A consequence of the maturing province is that new oil and gas finds are smaller, often within geologically complex structures and far from existing infrastructure. As a result, the traditional majors have moved away from the UKCS and sought to increase their reserves through focusing their exploration budget in other locations. This created new opportunities for dynamic small and medium sized operators to step in and inject new life and investment into existing fields, utilising the infrastructure to seek additional reserves. An excellent example of this is independent operator Apache Corporation which, after acquiring the Forties asset from BP, has instigated a dynamic programme of workovers and new drilling to increase production.

Economic influences

Unfortunately, while this sea change was underway, the smaller independents have been hit hard by the recent economic malaise, with lack of available credit facilities dramatically affecting the activity levels in the North Sea in recent times.

Whilst the economic climate is uncertain, what remains clear is that the demand for world energy continues to grow. In addition to their decreasing prominence in the North Sea, on a global basis, International Oil Companies (IOCs) control less than 10 per cent of the world’s oil and gas resources. The vast majority of reserves are held by National Oil Companies (NOCs) - companies partially or fully owned by a national government. Traditionally established with a domestic role to manage licensing and passive participation in local energy projects, these organisations are increasingly looking to foreign regions to supplement their energy portfolio and reserve base. Could the NOCs, following the path of the large independents, be ready to take up

NorthSea change

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the challenges left by the IOC’s? In the UKCS, Hunting has developed a

tubular supply model specifically for these resource-light organisations, positioning itself specifically to assist customers in tubular selection and supply. Tubular product leadtimes are reduced by Hunting’s decision to invest heavily in strategic stocks. Given that standard mill leadtimes are between five and seven months, such a stockholding allows Hunting to respond quickly to programme mobilisation or changes in forecasted well design.

Streamlined supportContinued investment in plant and equipment has allowed Hunting to offer a seamless supply

chain from planning to completion. Using an integrated services portfolio, Hunting reduces the need to subcontract to many vendors, simplifying the process for new entrants, whatever their size, whilst removing layered profit margins, administration costs and reducing the risk of delivery failure. Hunting’s world class facility in Fordoun, just south of Aberdeen, allows material preparation, storage, slinging and dispatch within custom built areas. Rig return processing is efficiently completed, allowing for quick restocking and the optimisation of inventory levels. All activities are completed with safety and the environment in mind, with strict adherence to policies such as working at height or water

The North Sea has seen a change in ownership from National Oil Companies to International Oil Companies and latterly independent operators. Is it now the turn of a new breed of NOC?

separation and entrapment to prevent local pollution. In order to consolidate operators’ stockholding demands, the Operations Centre at Fordoun is also able to offer storage services for non-tubular oilfield products. This includes both indoor and outdoor storage in accordance with relevant industry guidance.

As this new type of customer becomes more active in the North Sea, so this mature region could extend its life into another productive phase. At this stage in the cycle, Hunting is positioned alongside as ever, to assist in continued field developments whether that is during well construction for the provision of tubulars, or well intervention activities that prolong the life of the producing asset.

NorthSea change

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Artistic achievementMarking its 30th anniversary this year, the Hunting Art Prize continues to gather momentum producing some surprising and remarkable work

Earlier this year, prominent figures from the American art community gathered once again to review the latest offerings

from the Texan art scene for the 30th annual Hunting Art Prize. An impressive 1,400 entries were submitted for judging this year from more than 200 cities and towns across the state - an all time record in the award’s history. Open to amateur, budding and established Texan artists, aged 18 and over, this is the fifth year the competition has taken place in Texas after running for 25 years in the UK before crossing the Atlantic to be held in Houston, near Hunting’s North American HQ and the centre of the Upstream energy industry.

A percentage of proceeds of the work sold during the gala event is matched by Hunting meaning that this year’s charity Oilfield Helping Hands (OHH) is expected to benefit from more than $100,000 as a result of the event. The charity was established to lend a hand to those in the energy industry who find themselves faced with serious personal and economic challenges through no fault of their own.

An unusual arts venue was chosen

Richard Hunting, Philamena Baird & Dennis Proctor

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Artistic achievement

Picking a winner

Initial deliberations concentrated on drawing up a shortlist of the top finalists’ pieces from which 137 subsequently went through to the second stage of judging, before a decision on the winner was ultimately made in April. To ensure the judging process is completely unbiased, judges analyse the works individually and score them in secret using four specific sets of criteria - a system described by judge Sarah Cash, Bechhoefer Curator of American Art at the Corcoran Gallery of Art in Washington DC as an interesting, but very difficult undertaking. This is due not only to the sheer number, but also the exceptionally high calibre of the entries. Assessed on composition, subject matter/content, originality/creativity and lastly, execution, the panel was finally able to reveal the result of its much anticipated decision at the awards gala evening on May 1 where the majority of finalists work was hung for more than 1,000 guests including artists and energy industry executives from around the world who had assembled

to enjoy a cultural kick start to the Offshore Technology Conference. The event was held within the architecturally striking environment of the Friedkin Corporate Campus, Toyota Gulf States.

Literary linksDennis Proctor revealed the winner of the $50,000 prize - 24-year old Lane Hagood, one of the award’s youngest ever winners. A 2008 graduate of the University of Houston, his works have been exhibited at BiRDHOUSE Gallery, which supports eclectic and emerging artists; the Joanna in Houston; and Domy Books in Houston and Austin.

‘I’m really thankful to Hunting and to the jury, and really surprised,’ said Hagood. ‘There are a lot of artists who have more experience or a longer track record. But that’s one of the great things about this competition: the jury looks at your work, not your resumé, so everybody’s on equal footing. That gives unknown or lesser-known artists the kind of chance they might not otherwise get,’ - a point that is clearly reflected in the thorough judging criteria.

$50,000 prizewinner Lane Hagood with ‘Books I Have Possessed’

Nancy Lamb‘Glittered & Feathered’

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Technique, content and subjectBooks I Have Possessed is an evocative portrayal of a variety of well-known literary titles, selected by Hagood, who depicts each by its front cover. Innovatively using acrylic on coffee stained paper, the striking 54in x 42in piece clearly adheres to the competition’s requirement for the artist, ‘to express and present ideas in an individual and effective manner’.

Commenting on the panel’s decision, judge Sarah Cash described how, ‘the work seemed very personal, to really bring out the artist’s spirit and process - from the self-consciously primitive rendition of the book covers to the coffee stains. It also conveyed the sense of enjoyment of books and coffee in this increasingly electronic age - a very thoughtful and handmade biographical aesthetic that is also quite visually pleasing.’

Also distinguishing Hagood’s art was the unique way it seemed to capture universality while still remaining a clearly very personal piece. The very nature of the painting is that it appeals to all, yet to each in a different way. Indeed, one’s eye automatically identifies familiar, perhaps highly cherished titles - instantly creating an almost subliminal connection between the individual and the work. Ultimately, says Sarah Cash, it is, ‘the best combination of artistic technique, content and subject matter’.

Amy Prasad‘Henry (Home-Ruler)’

Amy Newland ‘Albuquerque’

Jerry Defrese‘In Your Dreams’

Veronica Jaeger‘Manicomio’

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This year’s judges were:

Sarah Cash, Bechhoefer Curator of American Art, Corcoran Gallery of Art, Washington, DC

Rita Aida Gonzalez, Assistant Curator, Contemporary Art, Los Angeles County Museum of Art

Lorelei Stewart, Director of Gallery 400, University of Illinois, Chicago

Trenton Doyle‘Legends’

Bethany Gouldin‘Niigata 2009’

Williams Young‘Five Parrots Perform King Lear’

ShawnSaumell

‘Breathe’

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Putting the fizz into gas

The sense of excitement across the energy industry about what has been dubbed the shale

rush feels akin to the scramble for America’s

gold rush in the mid nineteenth

century. So, what is the potential for shale

gas and is this a long term trend?

Estimated shale gas in place, by region (in trillion cubic feet)4000

3000

2000

1000

0 North China Australia Middle Latin Fmr. Soviet Europe Africa America Other Asia Other East America UnionSource: Society of Petroleum Engineers

Shale gas basins

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Is shale gas really set to become the game-changing energy resource of the decade? A number of economic, technological and

geopolitical factors have certainly converged over the last three years to make the future for these natural gas basins glow with potential.

The existence of shale gas, and other so called unconventional resources such as coal-bed methane and ‘tight gas’ sands, have been well documented for many years. What has changed is that the technology now exists to extract this gas, which has traditionally been unrecoverable at a viable cost to energy operators. The Hunting response to these developments is given more light on pages 20 to 22 of the Review.

Shale and heartyTechnological advancements have also led to major new discoveries of large tracts of natural gas trapped in shale deposits as well as the reappraisal of previously uneconomic reserves. According to IHS Cambridge Energy Research Associates, the doubling of the known natural gas resource in North America could be enough to satisfy more than 100 years of consumption at current rates.

The American shale gas breakthrough has centred on sites such as the Barnett Shale near Fort Worth in Texas; here pioneering drillers have been experimenting since the early 1990s to find the best way to extract the gas that lies beneath. New techniques were developed such as ‘hydro fracking’ on the back of rising energy prices, which afforded the industry an opportunity to develop more innovative methods of extraction. Broadly this is the process whereby sand and water are blasted into the rock formation to fracture the structure and prop open the fissures to allow the gas to flow back to the surface. The Barnett Shale alone accounts for 7 per cent of American natural gas supplies. Indeed shale gas, and its fellow unconventional resources that were until fairly recently considered unexploitable, are already meeting half the country’s demand for natural gas.

Flash in the pan?This is quite a turnaround in comparison with the Western world’s previous worries about securing continuity of energy supply, particularly with many of the world’s largest oil deposits residing in politically volatile countries.

The availability of abundant natural gas reserves in North America offers a stark contrast with Western energy operators’ declining oil prospects elsewhere in recent years. Apart from very deep water search ‘elephants’, which are high cost with additional risk, other energy opportunities tend to be in countries where resources are controlled by National Oil Companies that are not easily accessible to Western operators.

The biggest impact of the shale boom is likely to be that Western and Chinese consumers will be able to source fuel suppliers that are closer to home. A particular feature for successful shale gas exploitation is the proximity of the market to the producing area which can make even comparatively small deposits attractive. This could well reduce the muscle power of the likes of Russia which has been dominant in the natural gas export market using its geopolitical

influence and vast infrastructure. Although in 2001 Russia was the world’s largest gas producer, it’s likely that America has now leapfrogged it. Northern Europe and China could potentially reap the benefits of closely located shale beds and urban populations.

Excess gasThe explosion in production over the last three years has inevitably caused a gas glut, which comes at a cost. At almost the same time as America was experiencing this surge in natural gas production, the global economic crisis caused a slump in world demand. This meant that prices in the US have slumped, uncoupling the traditional link between fuel sources that for years was predicated on the six times value of spot crude oil to spot natural gas. Good news for the end consumer, mixed news for the producer depending on his cost base. The picture is also further complicated by an increased availability of LNG after exporters had geared up to meet an expected demand from the USA, which has now not materialised. Indeed some of import terminals could now be assessed for export potential.

The future in terms of pricing is difficult to predict. America’s Energy Information Administration points to decades of relatively weak prices for gas. Others think the low cost base will stimulate demand so that over the coming two decades we will probably see natural gas demand for power generation double.

Overall the current low price of gas is not a deal killer for the shale plays, while lower rewards are met by technical solutions to reduce cost. Initially it has been some of the energy sector’s smaller independent operators that have invested in developing the skills and technologies to extract from these reservoirs. Increasingly the majors are now involved and consolidation in the sector is underway, which will help to bring economies of scale to a fragmented market. ExxonMobil spent $41bn acquiring XTO, the US shale gas specialist last December and Shell has just announced the $5bn purchase of the Pennsylvania based East Resources, following further billions invested by its international cohorts - a clear indication that the oil majors view shale as the next big thing.

Ironically additional help to the industry may appear in the form of environmental penalties on carbon emissions; this would be at the expense of ‘dirtier’ fuels such as coal. Natural gas produces about half the CO2 of coal. In the US there is also a campaign to promote the use of natural gas for transport; one energy company is advocating ‘natural gas transportation corridors’ - highways served by filling stations offering natural gas. This could well be a dream that never comes to fruition but it is yet another ‘flag waving’ influence in the championing of natural gas that is currently taking place, from the corridors of political power to the boardrooms of energy operators around the world. It should also be considered that the new found lower cost of production levels and longevity of supply could weigh on the higher priced alternative energy sources if there is a political willingness to accept natural gas as the fuel of choice.

Global potential

But what of the picture outside America? No-one knows how much shale gas could be available in other parts of the world. The International Energy Agency (IEA) estimates the global total to be more than five times the world’s proven conventional reserves as they currently stand. Some analysts think this is a conservative figure, others are wary of the levels of exploration that needs to take place before assessing individual pockets of shale gas across Europe and the East.

The Chinese are certainly acutely aware of the potential that lies within their own country. In November last year the American and Chinese presidents met and the White House announced a US-China shale gas initiative - American technological know how in exchange for investment opportunities.

And exploration is now just starting in the likes of Poland, Germany, France - and indeed England. European operators are vying to play catch up with their international counterparts who have acquired a head start in both experience and acreage leased.

There are many obstacles to overcome before Europe and China will be able to develop their respective potentials including the vexed question of land ownership, mineral rights and the possibility of environmental challenges. Environmental groups in America have been questioning whether the production process for shale tracts could contaminate the water supply. However, several companies are already self-regulating and switching to using non-toxic fluids and other measures to protect the water table.

Another anticipated hurdle in Europe, as opposed to the US, is equipment shortages. America has around 2,000 onshore drilling rigs operating at any one time but in Europe there are usually less than 100. Shale plays require continuous drilling and other stimulation practices such as fracking to maintain production flows. Once tapped, each well starts to produce quickly and then loses between 70 to 90 per cent of its volume within one or two years. However, one man’s hurdle is another’s opportunity so there is plenty of potential here for a global drilling equipment provider like Hunting to exploit the European market at the same time as servicing the more established US shale gas sector.

Consensus forecast for US shale gas production

bcf25

20

15

10

5

0 ‘98 ‘00 ‘02 ‘04 ‘06 ‘08 ‘10 ‘12 ‘14 ‘16 ‘18

Estimated

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Shale reaction

Hunting continues to position itself to take advantage of the opportunities offered by the energy

industry’s much talked about new resource - shale gas

Economies of scale and improvements in techniques have radically reduced the costs of producing natural gas from

shale formations making it cheaper, in some cases, than conventional sources. Companies such as Hunting have been investigating both the development of new tools as well as ways of evolving existing technology to work successfully in the complex ‘new’ geology created by the shale plays.

Hunting already has a well known drilling tools portfolio of mud motors, drill collars and accessories which have been helping oil and gas companies drill in established geological environments for some years now. Originally founded in Casper, Wyoming to service the Rocky Mountain Region, the service areas have been expanded from satellite facilities southwards to Grand Junction, eastwards to Oklahoma City and to north of the Canadian border at Nisku in western Alberta. Under the leadership of Mike Hooper, General Manager Drilling Tools, the team has continued to develop a range of Hunting products sharing core components and design elements, configured to local requirements. With this heritage the company is looking to take advantage of the race to develop tracts of gas-bearing shale - particularly in the Marcellus, Fayetteville and Barnett Shale regions.

North east service The Marcellus Shale play extends from West Virginia to southern New York State, sitting close to one of the largest prospective gas markets in the country. To satisfy this potential, growth in the number of rigs in this region has been rapid - from an average of 40 in 2009 to around 70 this year. To service this increasing activity the Hunting team selected

New facility at Conroe

Mike Hooper

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Oklahoma City

Casper

Grand Junction

Odessa Conroe

HoustonHouma

Latrobe

Shale gas deposits

The operator blasts holes through the well casing and into the surrounding shale

Fracking fluids are pumped in at higher pressure to further fracture the rock

The gas is released through fissures opened by the fracking and flows to the surface

Latrobe, in Westmoreland County, in south west Pennsylvania as the prime location to site a new facility - right in the heart of Marcellus’s growth area. Located some 40 miles to the east of Pittsburgh, the Latrobe facility measures 28,000sq ft but has plenty of potential for expansion. Hunter A Wood II has been appointed as Regional Manager and by the end of July it is anticipated that the operation will comprise ten employees, once the property conversion is completed from former tea warehouse to modern tool service facility.

Most of the Marcellus operations involve drilling horizontal wells - typically to vertical depths of around 6,000 to 8,000ft and then extending horizontally to around 4,000 to 6,000ft. In this arena pricing is critical for all components. The Latrobe site is being set up as a hub for servicing local needs, taking time and distance costs out of the equation. Drill motors, vibration dampeners and drill collars are all part of the lineup, much of which will be carbide coated instead of chrome to suit the local geology. Carbide is extremely hard wearing and immune from chemical attack, making repair and refurbishment costs lower as it reduces the out of service time in the maintenance cycle.

Southern supportAt the southern end of the shale regions to serve plays such as Barnett, Eagle Ford, Fayetville and Haynesville, the opening of the latest Hunting greenfield facility is also eagerly anticipated. Scheduled for July 2010, the company’s Conroe, Texas facility has progressed swiftly from architect’s drawing board to fruition. The 36,000sq ft machine shop and service centre sits in the middle of a ten acre site that has the potential for further

Hunting technology is well suited for exploiting these new shale plays, both in its horizontal and vertical operations

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expansion as the need arises.Located in Montgomery County, just to the

north of Houston, Conroe boasts excellent truck access to the large number of rigs running within that market footprint. It also has historical ties to the energy services sector which means that expertise and an experienced workforce bring an added advantage. The working practice is for distributed stock points near the major concentrations of rigs, so that staff and products are available to customers at short notice while portable breakout units can be mobilised to meet particular in-field needs.

Product rebirthWith the majority of shale plays being accessed and developed by directional drilling and horizontal well technology, there has been a renewed demand for evolving the associated technology as well as service locations. As Bob Sivley, General Manager of Engineering at Hunting Energy Services, puts it: ‘The thing that costs the most and does the least is the thing that has to be made better. It’s all going to be about looking at ways an operator can save time. Tripping in and out is one of the most unproductive times in a rig’s existence so looking at ways to make this faster, easier, more

reliable and more consistent will be important. A minute of rig time can cost $360, so anything that saves five minutes is automatically worth more than $1,500.’

As an example Bob refers to a technique termed ‘drilling with casing’ which in the right conditions reduces the need for multiple operations but brings its own challenges. Based on connection technology that was originally developed for the Canadian heavy oil industry some 40 years ago, Hunting has reapplied the ‘huff and puff ’ concepts that were first devised for steam injection to hydraulic ‘fracking’. This addresses the high pressure operation when fluids are forced down the drill string at high pressure to fracture the sub formation and release the gas from the shale. Axial, radial and circumferential stresses can be compounded by the huge internal pressures of the fracking process, so significant improvements were needed while keeping costs down.

Shale connectionThe result is the latest specialty casing connection known as the TKC 4040 RTC. The 4040 refers to the thread height and the incline of the taper that forms the connection. RTC stands for Rotation, Torque and Compression. This recent development was championed by Aaron Walsh, who believes this semi-premium product offers a real niche in the market as it has a shallower taper and smaller thread height that makes it a great technical improvement on the current API thread forms. It reduces the risk of failure due to the inherent stresses in bending and rotating the casing string. Crucially it is also much less expensive than the full premium connection which tends to be economically unattractive.

Proving its prowessThe equipment has recently gone through pressure testing to prove that the leak resistance of the connection is equal to that of the pipe body. Engineering continues to perform Finite Element Analysis (FEA) or computer modeling of the TKC 4040 RTC to help Hunting, as well as operators, understand stresses in the connection at given operating conditions. Extensive FEA modelling is currently being performed for a major operator that is active in most US shale plays.

The bigger picture

Hunting is well positioned due to the sheer demand that the shale plays are generating in the US. The Fayetteville and Marcellus shales in particular are demanding huge volumes of pipe to meet their drilling schedules. Failure to keep up with a programme means millions of dollars could be lost in lease reversions if drilling is not performed as per the contract.

The techniques recently honed in America are of course not confined to that market and the shale bonanza is expected to spread around the world. The technology and business model being developed by Hunting will be assessed in relation to other locations including Northern Europe where the first licenses have been granted, the Middle East and China.

Bob Sivley Aaron Walsh

Hunter A Wood II TKC 4040 RTC This is a non-upset threaded and coupled connection that uses the established Hunting TKC 4040 thread form and mating pin ends to create a positive torque stop. Initially wells are drilled using standard API and then the hole is cased with TKC 4040 RTC and cemented into place. The topside infrastructure is then added and the well can be put into production.

Delivering high torque and compression with multiple make and break capabilities, the beauty of the TKC 4040 RTC is that its close-tolerance thread form and shouldering pin noses eliminate the open ‘J’ area of API-style connections, creating a flush ID for trouble-free operation with no turbulence.

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This year marks the seventh anniversary of OHH, a registered 501(c)(3) charity designed to assist people in the energy

industry who find themselves faced with serious personal and economic challenges through no fault of their own. OHH began following a clay shooting tournament organised in 2003 by a group of oilfield friends wanting to help a former colleague’s family, who had been devastated by his debilitating death from cancer. The success of this first event gave the same group the urge to carry on for the continued benefit of other oilfield families in critical need of financial assistance. It is about raising money, having fun and keeping costs down. Since its inception, OHH has provided assistance to 94 families with close to $1m having been disbursed.

Hunting Energy Services is a core top level corporate sponsor of OHH. There’s also a personal link to the charity through Gary Brooks who is part of the sales department for connection products and OCTG. Gary became a Director of the charity four years ago, and now chairs the nine person selection committee. The purpose of this is to vet applications, verify the crisis situation and make recommendations at the monthly meetings. Emergency situations can be addressed with a discretionary $2,000 maximum payment between meetings. More applications are received than grants can be made and the hardest part for the committee is dealing with non-qualifying applicants. The requirements include having to have lived or worked in Houston or the eight counties surrounding the metropolitan area, and having more than five years of experience in the oilfield

Lending a hand

Oilfield Helping Hands (OHH) is the nominated charity that will benefit from the $100,000 raised under the umbrella of this year’s Hunting Art Prize

Richard SaxonPresidentof OHH

Layla - Feb 2008 in hospital and (right) as she is today

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sector. The nomination of OHH by Hunting PLC as this year’s designated charity will potentially allow the concept to be rolled out into regional chapters each supporting their local crisis programmes. A second chapter, which uses OHH guidelines, is currently being set up in Dallas and the expectation is for further chapters to be established across the country.

Different companies and individuals raise funds in their own way. One example is an employee donation scheme set up through United Way, which means Halliburton is able to send a quarterly cheque. Others are both regular and one-off fundraising events that often double as major social gatherings such as the Hunting Art Prize. On that occasion Richard Saxon, President of OHH gave a remarkable insight into the practical workings of the charity and the benefits achieved through individual tales.

Now there are spring and autumn clay shoots, a motorcycle ride, custom/classic car show, a golf tournament, cook-offs as well as an annual fishing competition and donation for Bluebonnet Youth Ranch - a separate children’s charity that is linked to OHH by a common interest. These alone raise somewhere in the region of $150-170,000 per annum, while the Rig Riders (motorcyclists) and Bootstrap Foundation, doubling as social clubs, are examples of supporters who can regularly donate five figure sums. Of the nearly 500 people who are individual members, about half are volunteers at the fundraising events themselves - after all a central theme running through these occasions is to have fun. With only one part-time OHH employee, the aim is to put the money to work as quickly as possible. This usually constitutes total distributions of 95 per cent from funds raised, intentionally leaving only small cash balances and enough for very constrained costs.

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Our HuntingCommunity

Richard Hugh Hunting CBE

Hunting PLC Chairman Richard Hunting has been appointed a Commander of the Order of the British Empire (CBE) in the Queen’s Birthday Honours List. The award is for services to the Arts and to Heritage, in which he has been involved for over 30 years, including the Hunting Art Prize. Outside the firm, he is Chairman of the Battle of Britain Memorial Trust, CORDA (which researches into the prevention of cardiovascular disease) and is on the board for the Royal Brompton and Harefield hospital. From 2000-2009 he was Chairman of the Trustees of the Geffrye Museum in London, which vividly presents a historical commentary on the quintessential English home.

Going for gold Hunting staff in Aberdeen are midway through competing in the Aberdeen ActivityMix Corporate Decathlon 2010. Comprising ten events with training throughout the year, the team has been enjoying the variety of competitions which so far have included: badminton, darts, mountain biking and ballroom dancing. Challenges still to come include Highland Games, canoeing, touch rugby, lawn bowls and volleyball with the whole competition finishing in October.

Gibson Shipbrokers in Norway

Oslo officeGibson Shiprokers is pleased to announced the opening of Gibson Oslo as of 1 June 2010. The office will be run by Mr Arild Brune (above, right), formerly of Norse Chartering and Stolt Tankers, whose career spans 30 years in shipping. He will be assisted by Mr Christian Klemmetsen (above, left).

Gibson Oslo will initially be based around the Specialised markets of Vegoils and Chemicals, working closely with the teams in London and Singapore.

Shanghai revisitedGibson has been recruiting brokers to rejuvenate its presence in Shanghai. The Dry Bulk section is now expanding and a larger more suitable office is being sought. Gibson Dry Bulk currently operates from its offices in London, Hong Kong, Singapore and Shanghai.

Nigel Richardson MD sticks to his mantra, ‘We are very good at what we do but we need to do more of it and in more places.’ Gibson Shipbrokers has grown from around 110-115 people three years ago to 150 currently and is still looking to recruit and expand.

Sam McClements 30th anniversary and the West Highland Way

A champagne reception was held in Cockspur Street to celebrate the 30 year long service award for Sam McClements, a Director of Hunting Energy Services, who was surprised by Hunting PLC CEO Dennis Proctor and Chairman Richard Hunting on what he thought was a routine visit to London.

Sam is celebrating his tenure this summer with members of the Hunting Walking Club on a fundraising march along the West Highland Way (100 miles from Milgavie to Fort William); the two charities chosen by the walkers are Cancer Research UK and CHAS (Children’s Hospice Association Scotland). Team members comprise: Stan and Doreen Work, Sam and Margaret McClements, Diane Grubb, Michelle Grubb, Bruce Ferguson, Alun Roberts, Graham Vickers and Ron Martin.

Long serviceLesley Farquhar, Contract Manager at HES UK in Aberdeen, celebrated the milestone achievement of 35 years with the company in May of this year. Lesley joined the company as a secretary in what was the Wellington Road office before moving into Contract Management during the 1990s and the subsequent move to Badentoy. In this role she has dedicated herself to looking after some of the company’s longest established accounts.

and also...Many congratulations are offered to Cormac Gilmore, who has completed 25 years of dedicated service to the company. Cormac started with Hunting Petroleum Services in Reigate, England before transferring to London on the formation of Hunting PLC in 1989.

Much appreciation is also expressed to Diane Grubb and Deborah Cumming (Badentoy), Fiona Shankey and David Hunting (London) for 21 years of service to the company.

Whistle Blowing Policy10 June 2010

Notice to All StaffCorporate Governance requires public companies to put in place arrangements for all employees to raise, in confidence, any concerns they have about possible financial improprieties or other matters.

The Board of Hunting PLC has nominated the senior independent Director, Mr John Hofmeister, as this point of contact.

Contact can be made directly by telephone or email with Mr Hofmeister or through the Chairman of Hunting PLC, Mr Richard Hunting.

Mr John Hofmeister’s contact details are as follows:Telephone: +1 713 405 1399Email: john.hofmeister@jkhgroup.org

Richard Hunting Dennis ProctorCHAIRMAN CHIEF EXECUTIVE

Saudi Aramco Well Services Forum

Dave Adams of Hunting Well Intervention gave a presentation on Pushing the angle for Slickline Operations and was rewarded with a trophy in recognition of his contribution to the event, in Saudi Arabia during May. The forum provides a platform for the exchange of well intervention experiences, development of best practices and introduction to the latest technology. The gathering of 150 specialists is attended by the world’s leading energy service companies.

Below: National Coupling Company’s (NCC) state of the art hypobaric chamber is now fully commissioned and is available for use by both internal and third parties.

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Our HuntingCommunity

Hunting PLC

Ben Willey, Company Secretary

Dr Ben Willey has been appointed to the position of Company Secretary and will be based in the Cockspur Street office, London. He joins from Buchanan where he held the financial communications brief for Hunting PLC after experience gained as an analyst in the City of London and a period of industrial research and development, following the award of his PhD in Platinum Group Metals (PGM) Metallurgy.

Premium Connections

Bob Sivley, General Manager of Engineering, Hunting Premium Connections

After extensive industry experience of Premium Connection design and development, Bob Sivley has joined Hunting as General Manager of Engineering for Premium Connections based at Northpoint, Houston. He will be responsible for managing engineering activities associated with Hunting’s Premium Connections unit.

US Manufacturing

Randy Lejeune, US Manufacturing Purchasing Manager

Randy has worked for Hunting since 1993 holding a variety of roles within the commercial group including at Casper, WY, Halliburton Dallas, TX and Baker Oil Tools in Lafayette, LA.

John Pitre, Manufacturing Outside Sales

John will be located within the Baker Oil Tools facility in Lafayette. His previous roles for Hunting include inside sales representative at the Woodlawn Ranch Road facility in Houma, LA.

Hunting Well Intervention

Frank Pirie,Hunting Welltonic, Regional Manager Asia Pacific

A new Regional Manager has been appointed for Singapore who will be responsible for operations within the Asia Pacific Region. Frank Pirie has been involved in the oil and gas industry for 26 years and brings with him a wealth of experience of Thru Tubing Operations in this region.

Jeff Brown,National Coupling Company, Comptroller

A certified Public Accountant, Jeff Brown has been appointed to the position of Comptroller for Hunting’s subsea operation, National Coupling Company in Stafford TX. He joins from Pannell Kerr Forster with broad experience in accounting and financial management.

Appointments, Promotions and Retirements

North American Drilling Tools

Mike Hooper, General Manager

Following the recent consolidation of US Drilling Tools and Canada Drilling Tools into one business unit, Mike Hooper will assume total responsibility for Hunting Drilling Tools. Mike will be responsible for developing strategies and maximising synergies of all the drilling tool product lines – enhancing overall profitability.

Hunter A Wood II,Regional Manager, Northeast US

After experience in the energy sector, sub-sea manufactured products and offshore drilling rig development, Hunter A Wood II joins Hunting as Regional Manager for Northeast US. Hunter holds a Bachelor’s Degree in Industrial Engineering from the University of Pennsylvania and has further certifications in APICS and Lean Manufacturing.

Klane Kirby,Sales Trenchless Division,Oklahoma City

With an extensive background in the Trenchless and Underground Construction industries, Klane Kirby joins Hunting to assist in the ongoing development of the distribution network and product development.

The 30th annual Hunting Art Prize has been awarded to Houston artist, Lane Hagood for his evocative piece Books I Have Possessed. The work, which was selected from the competition’s 134 other finalists, portrays a variety of well-known literary titles, selected by Lane, who depicts each by its front cover. The result was announced at a gala event held in Houston on May 1. The competition, which takes place in Houston, near Hunting’s North American Headquarters is open to amateur, budding and established Texan artists, aged 18+. This year saw over 1,400 entries for the $50,000 prize - with applicants hailing from more than 200 cities and towns across the state. Plans for the 2011 competition are now underway.

Hunting PLC

Chris BerrisGroup Treasurer

On the well earned retirement of Chris St Quintin, after a commendable 20 years of service, it has been announced that Chris Berris will be promoted to the position of Group Treasurer, based in Cockspur St. He joined from First National Bank of Chicago in London 11 years ago as a Treasury Assistant and has recently been awarded his Certificate in International Treasury Management by the Association of Corporate Treasurers.

Chris St Quintin (below) and (right) at his retirement party

Hunting Art Prize result

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The travel chaos caused by a volcanic ash cloud in April made for an interesting journey home for Patrick Allen, a Director of Gibson Shipbrokers. The prospect of an indefinite delay in Finland, with a pregnant wife at home, called for some extra effort and help. The journey started in Lapland, Finland, where Patrick had been visiting Neste, the Finnish Oil company and started with a 12-hour bus ride back to Helsinki. It soon became clear that car hire was impossible but a ferry to Stockholm in Sweden and train across the country to Gothenburg could open new options. On arrival three days later Patrick found that colleagues in London had also been busy alerting the market with the message -Cargo: Distressed brokerLoad: GothenburgDischarge: UKLaycan: 19th April onwardsLuckily a small oil tanker was identified sailing from Brofjorden, a little port 100km north of Gothenburg, that evening to Grangemouth near Edinburgh. A short ferry and taxi dash eventually delivered Patrick to the M/T Alice whose Russian master and Philippino crew found the whole episode extremely amusing. Finally berthing in Scotland after suffering the tail of a force eight gale, the epic journey back to London was completed by hire car exactly seven days after it had begun.

Blooming marvellousThe Open Garden Squares Weekend organised by the London Parks and Gardens Trust, of which Hunting is a sponsor, took place in London this June - providing a rare opportunity to visit gardens in the city, not usually open to the public. The gardens and squares, scattered throughout the capital, are one of the defining features of London and play a vital part in the city’s fabric - providing a focus for local communities, while also attractive to tourists and pleasant places for Londoners to relax in. Havens for wildlife, London’s green spaces are an important link in the environmental chain between the city’s parks and back gardens. Often tucked away from the hustle and bustle of the busy streets, London is home to some real gems of tranquility – rarely on show to the general public. Some of the 200 gardens that took part this year, ensuring that their contribution to London’s environment could be appreciated by all, included: Chiswick House Walled Gardens; Holland House Garden; Kensington Palace and Westminster Abbey’s College Garden.

PwC 5-a-side ‘World Cup’ tournamentTo coincide with the start of the FIFA World Cup™ in South Africa, PwC held a ‘Force for Good’ 5-a-side football tournament where companies participating, represented the countries that made it to South Africa. Hunting Aberdeen fielded two teams -‘Italy’ in blue and ‘Spain’ in yellow - facing competitors from throughout the North East of Scotland. This tournament supports CLAN’s 1-2-3 appeal. CLAN is an independent charity for anyone affected by cancer at any time from diagnosis onwards, whether personally or through close association. Both teams made it through the group stages, but were unable to go any further in the knock out rounds. ‘Spain’ comprised Kenny Jamieson, Clarke Bain, Alan Morrison, Gavin Steele, Gary Wright and David Munro, while ‘Italy’ were Ingrid McNiven, Sophie Hubbard, Steve Innes, Blair Reid, Mike Mullen and David Headley.

Competing in the

Posidonia CupA team from Gibson Shipbrokers set off from the Hellenic Offshore Racing Club recently to compete in the 5th Posidonia Cup. Headed up by Managing Director, Nigel Richardson, the team included a handful of brokers as well as company guests - chartering managers from high profile tanker and oil companies.

Team Gibson raced its yacht, Aera, around the course in two hours 29 mins and came a very respectable 16th out of 52 entries in the IRC division, with one crew member even ‘fixing’ two tankers via his Blackberry during the course of the race.

The long way home

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Hunting PLC3 Cockspur Street, London SW1Y 5BQ, United KingdomTel +44 (0) 20 7321 0123Fax +44 (0) 20 7839 2072www.hunting.plc.uk

Hunting PLC (USA)24 Waterway, Suite 700, The Woodlands, Houston, Texas 77380, USATel +1 713 595 2950Fax +1 281 907 5075www.hunting-intl.com

Hunting Energy (North America)2 Northpoint Drive, Suite 400, Houston, Texas 77060, USATel +1 281 442 7382Fax +1 281 442 5771www.hunting-intl.com

Hunting Energy (Europe)Badentoy Avenue, Badentoy Park, Porthlethen, Aberdeen AB12 4YBTel +44 (0) 1224 787000 Fax +44 (0) 1224 787100www.hunting-intl.com

Hunting Energy (Asia)34 Benoi Road, Singapore 629901, SingaporeTel +65 (0) 686 16176 Fax +65 (0) 686 15010www.hunting-intl.com

Gibson Shipbrokers16 Ely Place, London EC1P 1HP, United KingdomTel +44 (0) 20 7667 1000Fax +44 (0) 20 7430 0571www.eagibson.co.uk