Hunting PLC announced that it has secured a $145 million OCTG order with Kuwait Oil Company (?KOC?) through the company?s distributor in Kuwait. The order comprises a large quantity of premium OCTG casing, to be supplied by Hunting via its end-to-end integrated OCTG supply chain in Asia Pacific. The casing will be threaded with Hunting's proprietary SEAL-LOCK premium connection technology at its facilities across Asia Pacific, with revenue expected to be recognised from late fourth quarter of 2024 and into 2025.

The order will be funded from the Group's existing $150 million Asset Based Lending facility and, in addition, accelerated receivable solutions and bank acceptance bonds are also being put in place to shorten the overall cash conversion cycle.