LONDON (ShareCast) - Flexible pipeline supplier Wellstream Holdings has secured 90% of 2009's anticipated revenues at the halfway point.
The company, which designs and manufactures flexible risers and flow-lines used by the oil and
gas industry, said its order backlog remains in excess of £220m.
The company has maintained a strong operational performance since its last trading update with trading broadly in line with the board’s expectations.
The Pyrenees project for BHP Billiton (LSE: BLT.L - news) is progressing well, with final pipe deliveries complete while Seastream’s offshore installation work is expected to complete before the end of the year.
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