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Pin to quick picksPlexus Share News (POS)

Share Price Information for Plexus (POS)

London Stock Exchange
Share Price is delayed by 15 minutes
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Share Price: 14.50
Bid: 14.00
Ask: 15.00
Change: 0.25 (1.75%)
Spread: 1.00 (7.143%)
Open: 14.25
High: 14.50
Low: 14.00
Prev. Close: 14.25
POS Live PriceLast checked at -

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Plexus shares soar on GBP1 million plug and abandonment North Sea deal

Fri, 16th Feb 2024 11:14

(Alliance News) - Plexus Holdings PLC on Friday said it has won a deal worth GBP1 million to provide services for multiple plug and abandonment activities in the North Sea.

Shares in Plexus jumped 21% to 18.10 pence each in London on Friday morning.

The Aberdeen-based oil and gas engineering services business said it will provide an unnamed customer with wellhead equipment in the Dutch sector of the North Sea.

Work begins in the second quarter of the year and runs for nine months, it said.

"The number of wells that must be permanently plugged and abandoned is fast growing, particularly in mature offshore locations such as the North Sea, where the OEUK indicated that decommissioning would account for 25% of oil and gas expenditure in 2023, up from 12% in 2022, and encouragingly I believe this trend will continue. We are therefore delighted that Plexus' reputation is strengthening within this sector, and that our range of customers is broadening," Chief Executive Officer Ben Van Bilderbeek explained.

By Sabrina Penty, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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