Plexus Holdings PLC has received an additional purchase order ('PO') from Centrica Plc ('Centrica') to supply surface wellhead and mudline equipment services for a gas appraisal well in the Southern North Sea. The value of the order is estimated at approximately £900,000 with revenues expected to commence in April 2014.
Under the terms of the PO, which is expected to have a duration of 100 days, Plexus will supply its 18-3/4' adjustable surface wellhead and mudline systems for use on the Pegasus West appraisal well. Plexus' wellhead equipment was selected for Pegasus West as it provides a metal to metal annular seal which was a key requirement of Centrica. Plexus has a long standing relationship with Centrica having provided the operator with equipment for use on its first well drilled offshore Norway.