Energy services provider Expro Group Holdings (NYSE:XPRO) has bagged a contract with a major operator for the use of its single shear and seal-debris 15K ball valve assembly.
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Importantly, this is the first contract win for the company’s advanced subsea solution which helps in well safety while also lowering costs. The company is designing a subsea deepwater system for a subsea field at nearly 2,000 meters in the Gulf of Mexico and the valve assembly will be a part of this system.
The contract is for a period of three years with a value of more than $15 million. Moreover, this win positions Expro as a leading name in rental and customized subsea well access offerings.
Overall, the Street has a $81 consensus price target on Expro alongside a Moderate Buy consensus rating. This points to an eye-popping 355.6% potential upside in the stock on top of a 71.3% price surge over the past year.
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