Hunting Energy Services Completes $62 Million Expansion Near Houma, Louisiana
The company is an energy services provider to the world’s leading national and international oil and gas companies, manufacturing and distributing products that enable the extraction of oil and gas. With this project Hunting expects to create 20 new direct jobs.
“Hunting’s investment in this region is a testament to the people and culture of this area and reflects its commitment to providing quality products and services to the oil industry,” General Manager Bill Price said. “The current state of the oil industry is challenging, but Hunting is committed to a long-term growth plan for the South Louisiana region. This project will allow Hunting to expand its customer base and product offering, thereby allowing the expansion of jobs and community economic development well into the future.”
The new manufacturing facility near Houma will position Hunting to increase both its productivity and its reliability of deliveries to sites involved in oil exploration and production along the Louisiana and Texas coasts. The plant also will manufacture and ship products to Hunting’s global network of distribution outlets. The company maintains substantial operations in Europe, the Middle East and Asia, in addition to North America.
Louisiana Economic Development began working with Hunting Energy Services on this phase of its Houma expansion in August 2013. To secure the project, LED offered the company a competitive incentive package that includes a $750,000 Modernization Tax Credit to reimburse a portion of the project’s new equipment and capital costs. Hunting also is expected to utilize the state’s Quality Jobs and Industrial Tax Exemption programs.
Governor Bobby Jindal said, “Once again, Louisiana’s top-notch business climate and best-in-class workforce are making good things happen for our state. We are delighted that an international company such as Hunting has chosen to continue to operate in coastal Louisiana and expand with a major capital investment. This project will create exciting employment opportunities in Terrebonne Parish, enabling our citizens to find quality jobs right here at home.”
Hunting Energy Services began operations in Terrebonne Parish in 1981. In June 2013, Governor Jindal announced a previous expansion by the company that represented a $19.6 million capital investment in a 97,000-square-foot manufacturing and distribution facility. Hunting Energy Services is a Houston-based subsidiary of London-headquartered Hunting PLC. Hunting’s global footprint of facilities provides well construction, well completion and well intervention products, including wireline and coiled tubing and completion accessories manufactured by its Houma facility.
“As our energy service companies like Hunting continue to strive in meeting the ever-increasing demands and challenges of the oil and gas industry, so will it be for our working community that will man those skilled positions that fuel the growth and progress of our energy sector,” said President/CEO Vic Lafont of the South Louisiana Economic Council. “The infusion of our state’s award-winning LED FastStart® program will help our workforce to do just that.”
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