News

February 03, 2010

Oil Services Companies Plexus Holdings And Rheochem Bag New Contracts

Much of the success of Plexus Holdings, the specialist wellhead supplier, has been its ability, even against a backdrop of falling rig counts, to win repeat business and grow its order book. This, says Plexus says, demonstrates the advantages of its proprietary POS-GRIP technology, which deforms one tubular pipe against another in such a way as to create a substantial and effective metal-to-metal seal that is less vulnerable to buckling or corrosion than a conventional seal. This makes the system safer, more reliable and cheaper than conventional systems. Plexus manufactures the wellheads and rents them out to operators as well as supplying associated services.

In recent months, the AIM-listed engineering company has won repeat business from Wintershall, Maersk Oil and Applied Drilling Technology International (ADTI), a turnkey drilling division of Transocean Drilling, the world's largest offshore drilling contractor.  Its client list also includes big names like Shell, BP Conoco Phillips, and Talisman Energy.

But the company is also reaching out to new customers.  This year it has already won first-time contracts with AIM-quoted Bowleven,...