Company
Plexus Holdings PLC
LON:POS
Plexus Holdings PLC is an IP led company focussed on establishing its patented leak-proof POS-GRIP® wellhead and associated equipment as the go-to technology for energy markets. The company is making a genuine contribution to the oil and gas industry's ESG and NetZero goals by championing "through the BOP" (Blow-out Preventer) designs, and lifetime leak-proof HG® metal-to-metal sealing systems.
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Plexus gets six year extension to deal with SLB
SLB, the former Schlumberger business is developing a new range of well heads using the technology
Plexus says it is on shortlist in two categories of the Offshore Network's OWI Global Awards 2022
Plexus' CEO Ben Van Bilderbeek said: "We are absolutely delighted to be included in these two categories and thank the OWI for the nominations"
Plexus Holdings wins first plug and abandonment order
Plexus expects revenues of £500,000 from the order in the calendar year 2023
Plexus chief says he is increasingly confident company is at a tipping point
“New oil and gas exploration and production drilling activities are increasing, oil is back at record prices and meeting ESG requirements is no longer optional," CEO Ben van Bilderbeek said
Plexus suspends dealings with Russian partner
A partnership with Schlumberger division Cameron is progressing well with numerous opportunities being pursued outside of Russia.
Plexus wins wellhead technology order from North Sea operator
The equipment is scheduled for delivery in the second quarter of 2022
Plexus Holdings can be “an essential contributor to the green revolution”
The services firm holds its AGM, as a closed meeting, later today.
Plexus and Schlumberger arm Cameron expand wellhead engineering arrangement
The variation agreement extends the territory of the licence to worldwide
Plexus Holdings upbeat on ‘leakproof’ POS-GRIP technology as annual revenues rise
The company expects increasingly high demand for its leak-free wellhead equipment.
Plexus enters partnership with Schlumberger’s Cameron
The partners expect to see ample opportunities as the exploration market cycles upward again
Plexus given LSE’s Green Economy Mark
“I am delighted that the LSE has established that there are significant environmental benefits to using our products," said chief executive Ben van Bilderbeek
Plexus's POS-GRIP technology offers way to cleaner gas
POS-GRIP, invented by the company’s chief executive Ben van Bilderbeek, is designed to prevent gas leaks, particularly methane, in wellheads and other connectors
Plexus Holdings expects to benefit amidst industry transition
“We believe that Plexus, with our field proven POS-GRIP leak-proof technology, is well positioned to maximise the opportunities that are now beginning to open up to us, especially in relation to natural gas, the cleanest fossil fuel,” said
Plexus confident best days for POS-GRIP technology lie ahead
In an AGM statement, the company said it now has agreements in place with “two of the top three oil and gas services providers in the world” and POS-GRIP is beginning to “gain the recognition that it deserves”
Archive
Little on UK agenda aside from deal-or-no-deal over Brexit, but Tesla's S&P promotion, US stimulus eyed over festive fortnight
It is still likely that 2020 will still throw up more surprises before it comes to an end
Plexus Holdings says it is well positioned for market’s return to growth
"We are well prepared to benefit from the return to growth that the industry will undoubtedly see in 2021," said chief executive Ben van Bilderbeek
Plexus signs licence agreement with Schlumberger company
"We are looking forward to working with Plexus to explore the use of friction-grip technology in our wellhead systems, " said Paul Sims, Global Business Director - Surface Production at Schlumberger
Plexus Holdings receives North Sea order for POS-GRIP from Centrica’s Spirit Energy
The equipment has been ordered for a new gas well in the UK North Sea.
Plexus CEO hails resilience of business model as firm predicts narrower full year loss
Ben Van Bilderbeek said the firm’s debt free balance sheet and its partnerships with fellow engineering groups meant it was “well placed to withstand the downturn" in the oil and gas markets
Plexus expects 2020 revenue to be in-line with expectations, says coronavirus impact is not yet known
"It is difficult to evaluate all of the potential implications [of coronavirus] on the company's trade, customers, suppliers and the wider economy”
Plexus’s Russian partner orders more POS-GRIP equipment following Gazprom install
The successful POS-GRIP install for Gazprom has opened a larger opportunity for Russian licensing partner Gusar
Plexus continues to see progress in talks with potential new partners
Ahead of today's AGM, chairman Jeff Thrall updated investors as the company focuses on “a growing suite” of proprietary products based around its POS-GRIP technology
Plexus' POS-GRIP sealing system verified for use in extreme temperatures
The oil and gas engineer the test, which it believes to be an industry first, will further the capabilities of POS-GRIP technology in Arctic conditions
Plexus Holdings is “working behind the scenes” to gain traction in the production market
"The industry knows the benefits of our technology on the exploration space, so hopefully we will have a bit of a standing start on the production space”
Plexus boosted by first Gazprom POS-GRIP installation
"The deployment of this first wellhead avails Gazprom of the many technical advantages of POS-GRIP technology,” said Ben Van Bilderbeek.
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Plexus forms new xmas tree and valves joint venture
"The formation of PPC enables Plexus to supply xmas trees as part of a 'package solution' for the first time,” said Ben Van Bilderbeek, Plexus chief executive.
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FTSE 100 closes higher despite continued trade worries
The UK's blue-chip benchmark added over 23 points to close at 7,184
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Plexus reports narrower losses and strong revenue upswing in first half
The group, which sells its POS-GRIP wellhead sealing technology, reported an underlying (EBITDA) loss from continuing operations of £1.5mln, less than the £1.88mln loss a year ago, while sales revenues jumped to £1.3mln from £40,000
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Plexus Holdings to pay out £1mln through interim dividend
The balance sheet is also being restructured so that it can make additional payments in future.
FTSE 100 closes marginally higher ahead of next Parliamentary vote on Brexit
The January US Durable Goods Orders and Shipments Report showed that business equipment investment got off to a sluggish start this year, Berenberg Capital Markets noted
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Plexus Holdings highlights POS-GRIP rental deal with Gasprom
"This is the breakthrough rental wellhead order that both Gusar and Plexus have been working towards since we signed the licensing agreement in January 2016,” said Ben Van Bilderbeek, Plexus chief executive.
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Higher spending on POS-Grip technology will affect numbers says Plexus
Revenues are on track with enquiries for its POS-Grip technology rising but margins have been affected
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FTSE 100 closes in red amid lower volumes but Reckitt Benckiser jumps
Footsie closed down around 17 points at 7,219 but FTSE 250 added over 140 at 19,127
Plexus shareholders back buyback deal with Russian partner Gusar
The proceeds of the buyback will allow Gusar to finance the purchase of two POS-GRIP jack-up exploration wellhead systems from Plexus
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Plexus Holdings to expedite Russia push with new Gusar transaction
"Plexus sees the share buyback as a practical and positive move that enables the acceleration of the delivery of the equipment into Russia," said CEO Ben Van Bilderbeek
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FTSE 100 closes lower as Chinese data and Brexit weighs
Footsie closed down over 63 points at 6,855 on the day
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