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Pin to quick picksPlexus Share News (POS)

Share Price Information for Plexus (POS)

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Share Price: 14.00
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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.
More News
24 Sep 2019 16:01

Plexus technology enters service with Gazprom

(Sharecast News) - Oil and gas engineering services business Plexus Holdings announced on Tuesday that its Russian licensee Gusar has successfully installed the first wellhead for Gazprom as part of the previously-announced contract to supply 'POS-GRIP' rental wellhead gas exploration equipment to the Russia-based energy giant.

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24 Sep 2019 13:59

Plexus Installs First POS-GRIP Jack-Up Wellhead For Russia's Gazprom

Plexus Installs First POS-GRIP Jack-Up Wellhead For Russia's Gazprom

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3 Jun 2019 12:45

Plexus Partners With BEL Valves To Supply Flow Control Equipment

LONDON (Alliance News) - Plexus Holdings PLC on Monday announced the establishment of Plexus Pressure Control Ltd, a majority owned joint venture with BEL Valves Ltd, which will exclusively supply

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3 Jun 2019 12:11

Plexus forms JV for xmas tree and wellhead supply

(Sharecast News) - Plexus Holdings on Monday formed Plexus Pressure Control Limited (PPC), a majority-owned joint venture formed with British Engines Group subsidiary BEL Valves Limited, to supply surface production xmas tree valve assemblies and wellhead annulus outlet valves.

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28 Mar 2019 11:40

Plexus Holdings Interim Loss Narrows As It Ceases Jack-Up Business

LONDON (Alliance News) - Plexus Holdings PLC on Thursday said its pretax loss narrowed in the first half of the current financial year due to a change in focus to wellhead equipment AIM-listed for

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13 Mar 2019 14:42

Plexus Declares Interim Dividend; Plans Premium Account Cancellation

LONDON (Alliance News) - Plexus Holdings PLC on Wednesday declared an interim dividend of GBP1.0 million in total, equivalent to 0.99566 pence per share, following the sale of a business to FMC in

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4 Mar 2019 10:05

Plexus Holdings Russian Licensee Signs Equipment Contract With Gazprom

LONDON (Alliance News) - Shares in Plexus Holdings PLC spiked Monday after the oil and gas engineering services company said its Russian licensing partner secured an exploration wellhead equipment

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4 Mar 2019 09:34

Plexus local supplier wins contract with Gazprom

(Sharecast News) - Oil and gas engineering services business Plexus Holdings announced on Monday that its Russian licensee, LLC Gusar, has secured its first major contract to supply 'POS-GRIP' rental wellhead gas exploration equipment to Russian energy giant Gazprom.

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18 Feb 2019 09:44

Plexus Holdings Annual Earnings To Fall On Lower Margins, Higher Costs

LONDON (Alliance News) - Plexus Holdings PLC on Monday said annual revenue is "broadly in line with expectations", however, lower margins and higher overheads will hurt in the jack-up at

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18 Feb 2019 09:37

Plexus margins squeezed by increased investment

(Sharecast News) - Oil and gas engineering services business Plexus will fall short of earnings expectations in its current trading year as a result of an increased investment into its POS-Grip wellhead sealing technology.

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17 Dec 2018 09:26

Plexus coughs up £0.74m for minority share in KMS

(Sharecast News) - Oil and gas engineering services business Plexus Holdings has made an investment of £0.74m to acquire a 49% interest in independent precision engineering business KMS, it announced on Monday.

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27 Sep 2018 14:30

Plexus product gets Russian deployment via licensee Gusar

(Sharecast News) - Oil and gas engineering services business Plexus Holdings announced on Thursday that its Russian licensee, Gusevsky Valves Plant (Gusar), has entered into an initial agreement to supply Gazprom with two sets of its 'Tersus TRT Mudline Suspension System' (MLS) products for the construction of shallow water exploration gas wells on the Kara Sea Shelf in 2019.

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27 Sep 2018 10:37

Plexus Holdings Licensee Wins Equipment Supply Agreement With Gazprom

LONDON (Alliance News) - Oil & gas engineering services company Plexus Holdings PLC on Thursday said its licensee has been contracted to supply two sets of its Tersus - TRT Mudline Suspension

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8 Aug 2018 10:48

Plexus Holdings nails down second POS-SET connector order

(Sharecast News) - Plexus Holdings on Wednesday secured a purchase order to supply and rent its POS-GRIP enabled POS-SET Connector technology for well abandonment operations in the North Sea.

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2 Feb 2017 10:23

Plexus Holdings Extends Brunei Shell Contract By Two Years

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