Honghua Group Ltd. (4HB)

Overview

Honghua Group Limited, headquartered in Chengdu, People's Republic of China, is a leading investment holding company that specializes in the research, design, manufacture, setting, and sale of land rigs, as well as related parts and components. Established in 1997, the company has broadened its portfolio to include a variety of services and products that cater to the oil and gas industry. Honghua Group operates across multiple segments, including Land Drilling Rigs; Parts and Components and Others; Drilling Engineering Services; and Fracturing. It holds a significant presence not only in the domestic market but also internationally, extending its reach to the Americas, the Middle East, Europe, Africa, and various parts of Asia. The company’s dedication to innovation and quality has made it a preferred choice for illustrious clients such as CNOOC, SHELL, MOGE, PTTEP, and NOBEL. Beyond manufacturing, Honghua Group also extends its expertise to oil and gas engineering services, leasing solutions, and technical support, ensuring comprehensive solutions for its clientele.

Products and Services

• Land Drilling Rigs and Components:

  Honghua Group is well-known for its high-quality manufacturing of land drilling rigs. This includes the production of essential parts such as mast and substructures, hoisting systems, rotating systems, high and low-pressure mud systems, and auxiliary system parts. Their in-depth research and innovative design processes ensure that these rigs meet the evolving needs of the oil and gas drilling industry.

• Electrical Equipment Manufacturing:

  The company manufactures and assembles a wide range of rig electrical equipment to complement its drilling rigs. This includes Variable Frequency Drive (VFD) systems, Silicon Controlled Rectifier (SCR) systems, Motor Control Center (MCC) systems, drilling motors, well site circuitry and lighting systems, ensuring the efficient and safe operation of drilling operations.

• Mud Management and Solids Control Equipment:

  Efficient management of drilling mud is critical in the drilling process. Honghua Group manufactures mud tanks, solids control equipment, drill floor tools, mud manifolds, and personnel camps to manage and recycle drilling mud efficiently, reducing environmental impact and costs.

• Drilling Engineering and Seismic Services:

  With a comprehensive suite of services, Honghua Group offers well and integrated EPC drilling, directional drilling, and seismic services. These services are tailored to meet the specific requirements of major oil companies, maximizing efficiency and minimizing risks associated with drilling operations.

• Financing and Leasing Services:

  To facilitate the acquisition and utilization of drilling rigs and equipment, Honghua Group provides diverse financing solutions such as direct financing leases, operating leasing, sale and leaseback, sublease, and trust and joint lease financing services. This flexibility in financial solutions allows clients to optimize their capital expenditure.

• After-Sales Service and Technical Support:

  Honghua Group prides itself on offering exceptional after-sales service and technical support, covering rig installation, commissioning, and solution provision. Their dedication to customer service ensures operational excellence and the longevity of the drilling equipment.