Hunting (HTG): Middle East conflict exposure
This situation live
HTG Hunting
5 Mar 2026 · Possible order slippage; company sees minimal 2026 exposure · −3% until the next step
While we are closely monitoring the evolving situation in the Middle East, the Group's financial outlook remains robust.
15 Apr 2026 · Tender slippage; minimal profit impact expected · −16% until the next step
Some slippage in the issuance of tenders has occurred in the Middle East since March 2026; however, management still anticipates that these will be published in Q2 2026.
21 Aug 2026 · Tender delays now hitting 2026 guidance · +0% since
Whilst current instability in the Middle East has caused some delays to tendering, we expect activity in the region to rapidly recover once stability returns
Middle East conflict exposure
Tender delays now hitting 2026 guidance
Next: KOC OCTG tender re-issue in Q3 2026
Every step · 3
- 5 Mar 2026 Possible order slippage; company sees minimal 2026 exposure – While we are closely monitoring the evolving situation in the Middle East, the Group's financial outlook remains robust. ↗
- 15 Apr 2026 Tender slippage; minimal profit impact expected – Some slippage in the issuance of tenders has occurred in the Middle East since March 2026; however, management still anticipates that these will be... ↗
- 21 Aug 2026 Tender delays now hitting 2026 guidance – Whilst current instability in the Middle East has caused some delays to tendering, we expect activity in the region to rapidly recover once stability returns ↗
What is happening
Hunting: Middle East conflict exposure – Tender delays now hitting 2026 guidance. ['Tender delays now hitting 2026 guidance']
- In short
- Middle East conflict was flagged in March 2026 as a tender slippage risk with minimal 2026 profit impact expected. By 21 Aug 2026 the delay has become material: the KOC tender re-run cuts 2026 EBITDA by c.$10m. Management expects a rapid recovery once stability returns.
- Announced
- 5 Mar 2026 · Possible order slippage; company sees minimal 2026 exposure
- Latest
- 21 Aug 2026 · Tender delays now hitting 2026 guidance
- Tender slippage
- Some in the Middle East since March 2026; publication still expected in Q2 2026
- Profit impact
- Minimal expected on current year profitability, dependent on conflict tenure
- Operations
- Dubai and Saudi Arabia personnel safe, generally unaffected
- Rig count
- Higher commodity prices not yet lifting US or international rig count
- Impact
- c.$10m 2026 EBITDA cut via KOC tender delay
- Earlier view
- Minimal 2026 profit impact expected (April 2026)
- Recovery view
- Activity expected to recover rapidly once stability returns
What comes next
KOC OCTG tender re-issue in Q3 2026.
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