Oil and Gas

Oilfield services firm Hunting warns on profit as U.S. market slows

Oct 29 (Reuters) - British oilfield services firm Hunting Plc warned on Tuesday its annual core profit would be at the lower end of market expectations as it grapples with a slowdown in the U.S. onshore drilling market.

Without giving numbers, the company said profit for the third-quarter had declined compared with the two preceding quarters while quarterly revenue and operating profit at its biggest unit Hunting Titan also fell.

“Management continue to anticipate a slowing in drilling across North America in Q4, which will further impact the results for the second half of the year,” the company, which counts Halliburton, Chevron and Anadarko as clients said in a statement. (Reporting by Yadarisa Shabong in Bengaluru; editing by Patrick Graham)