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Share Price Information for Plexus (POS)

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Share Price: 14.00
Bid: 13.50
Ask: 14.50
Change: -0.25 (-1.75%)
Spread: 1.00 (7.407%)
Open: 14.25
High: 14.25
Low: 14.00
Prev. Close: 14.25
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Plexus wins two-year contract extension from Brunei Shell Petroleum

Thu, 02nd Feb 2017 08:55

(ShareCast News) - Oil and gas engineering service provider Plexus Holdings' existing contract to supply wellhead and mudline equipment to Brunei Shell Petroleum (BSP) has been extended by a further two years.This is the fourth contract that AIM-listed Plexus has signed with BSP and is an extension of the current four-year agreement between the two companies, which started in late 2012.The extension covers the supply of Plexus' high pressure/high temperature and standard pressured wellhead and mudline systems and services for three exploration wells in Brunei.Plexus first supplied its wellhead equipment to BSP in 2006 and is said that it is committed to developing local business in Brunei by recruiting and training local employees.Chief executive Ben van Bilderbeek said: "The extension of our framework agreement with BSP validates our confidence in our ability to maintain relationships with long term customers, and be ready to secure orders when there is business to be won."In addition to offering operators wellhead equipment that meets the toughest industry standards, and in particular for high pressure/high temperature application, the company has an inventory of wellhead sets in stock which enables us to fulfil orders at short notice."However, for our wellheads to be fully utilised we need to see a pick-up in exploration activity from current historic low levels. Encouragingly, with production set to fall following the recent OPEC meeting agreeing to cuts, demand for hydrocarbons predicted to continue to grow, and mature fields in decline, we believe the seeds are in place for the next cyclical upturn to take root."He said that thanks to a debt free balance sheet, and despite its recent trading update, Plexus is well placed for when sentiment recovers, while it sees the remainder of this financial year as challenging, it believes that the 2017/18 financial year will be a turning point for Plexus and the exploration industry.The company's wellheads have been used on over 400 exploration wells worldwide in both high pressure/high temperature and standard pressure environments by large oil companies including Shell, Centrica, Statoil and Total.Shares in Plexus Holdings were up 7.46% to 89.19p at 1009 GMT.
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28 Feb 2014 08:34

UK MORNING BRIEFING: Shares Gain; Serco Up 10% On New CEO

LONDON (Alliance News) - UK shares are adding to their gains at the open Friday amid some positive UK and European economic data.

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25 Feb 2014 13:12

Plexus Holdings Gets New Partner On Subsea Wellhead Project

LONDON (Alliance News) - Plexus Holdings PLC Tuesday said that Senergy Holdings Ltd has signed up as an additional consulting partner to its Joint Industry Project to develop and commercialise a new and safer subsea wellhead using Plexus' POS-GRIP technology. The oil and gas engineering ser

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13 Feb 2014 09:48

Plexus Holdings Receives Purchase Order Worth GBP1.5 Million

LONDON (Alliance News) - Plexus Holdings PLC Thursday said it received a purchase order worth GBP1.5 million from GDF Suez E&P UK Ltd, for exploration activities in the UK Central North Sea. The AIM-quoted oil and gas engineering services business said the deal is to supply its POS-GRIP tec

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13 Feb 2014 08:24

UK MORNING BRIEFING: Lloyds To Set Out New Strategy By End Of 2014

LONDON (Alliance News) - The market is dissecting the Lloyds Banking Group earnings statement early Thursday. The state-controlled bank said it swung to profit in 2013, while confirming its intentions to restart paying a dividend and to sell off more of the UK government's sha

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12 Feb 2014 10:16

Plexus Holdings Gets GBP1.1 Million Contract With Maersk

LONDON (Alliance News) - Plexus Holdings PLC Wednesday said it has been awarded a contract with Maersk Group to supply wellhead equipment services for an exploration well in the North Sea. The AIM-quoted oil and gas engineering services business said the value of the contract, with Maersk O

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10 Feb 2014 09:14

Plexus Secures 3-Year Contract Renewal With Wintershall Noordzee

LONDON (Alliance News) - Plexus Holdings PLC Monday said it has achieved a three-year contract renewal for the supply of its POS-GRIP wellhead equipment to Wintershall Noordzee BV. The Aberdeen-based, AIM-quoted oil and gas engineering services business said details for the final renewal co

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28 Nov 2013 14:40

Plexus Holdings secures contract with Glencore

Oil and gas engineering services company Plexus Holdings has agreed to supply its POS-GRIP wellhead equipment to Glencore Exploration Cameroon for drilling at the Parrot prospect, offshore Cameroon. A second call-off to supply wellhead equipment for another well, Malimbe, is currently being reviewe

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28 Nov 2013 12:32

Plexus Holdings Gets GBP1.6 Million Order Extension From Glencore

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19 Nov 2013 13:07

Plexus Holdings Extend Key Wellhead Contract With Centrica

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19 Nov 2013 12:38

Plexus does 0.85m-pound deal with Centrica

Oil and gas engineering service business Plexus Holdings has extended a contract with Centrica North Sea Gas in a deal worth up to 850,000 pounds. Plexus has agreed to supply the gas production arm of the owner of British Gas with supply extra drilling equipment for the GROVE 49/10a-4 (G1) product

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19 Nov 2013 08:07

AIM IN BRIEF: Centamin Further Reduces Stake In Nyota Minerals

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23 Oct 2013 11:50

Plexus Profit Jump as Sales Of Drilling Solution Increase

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23 Oct 2013 11:22

Plexus invests for further growth after record full year results

Market demand for its Pos-Grip offshore oil drilling technology drove strong full-year revenue and profit growth ahead of forecasts at engineer Plexus. Profits before tax gushed 38% to £4.3m from sales that spurted 30% higher to £25.6m in the year to end-June, leading to 24% earnings growth to 3.69

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16 Oct 2013 09:49

Plexus Holdings Wins Egyptian Oil Technology Contract

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7 Oct 2013 10:20

Plexus Receives Additional Order From Centrica Energi Norway

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