US energy firm Hunt Oil looking to buy oil drilling services in Romania

Texas-based energy company Hunt Oil plans to buy oil drilling services worth up to EUR 5.6 million in eastern Romania.

The drilling will be performed in Adjud, Vrancea, and the costs are estimated to be between around EUR 4.8 million and EUR 5.5 million, according to reports.

Hunt Oil is a large private oil company focused on the exploration and production of oil and natural gas in America and internationally.

In Romania, Hunt Oil has a partnership with OMV Petrom, to explore two oil fields in Adjud and Urziceni. The company moved its London office to Bucharest in 2010.

In 2011 Romanian drilling company Dafora Medias has started to bore the first well on behalf of Hunt Oil in Romania.

As a privately held company, Hunt has not releases its financial statements or other financial data to the public. However it lists its investment grade credit ratings of BBB from Standard and Poor’s and Baa2 from Moody’s Investors Service.

Adapted from Romania-Insider