Hunting rides ‘Shale 2.0’

Timing is everything in markets, whether foreseen or fortuitous. Last September, with West Texas crude changing hands for $47 (£34) a barrel and commentators predicting another round of pain and cutbacks for US onshore drillers, Jim Johnson was installed as chief executive of oilfield services group Hunting (HTG). Six months on, the oil price is 30 per cent higher, Hunting shares are up 58 per cent, and Mr Johnson can preside over his first set of full-year results while basking in the reflected glow of a resurgent industry.